Article editing time: February 5, 2026, 22:00. All opinions do not constitute any investment advice! For learning and communication purposes only.

Self-discipline hides infinite possibilities in life, and its depth also measures the height of life. Every step of deep cultivation has its own echo; the more disciplined one is, the farther they go. I am Fuzhu, deeply analyzing mainstream cryptocurrency trends, breaking down market logic with professional expertise, and providing pragmatic trading ideas.

Market Overview

Today, the cryptocurrency market continued to plummet significantly, extending this week's wave of selling. The price of Bitcoin briefly fell below the $70,000 mark, hitting a low of around $69,100, the lowest level since November 6, 2024. Since reaching an all-time high last October, Bitcoin has accumulated a decline of about 42%, and the market situation has taken a sharp downturn. The current market trend is still quite fierce, with no decent rebound in the short term, indicating that this wave of market movement has not yet ended.

The Fear and Greed Index remains at 12, indicating extreme fear. In the short term, the retreat of risk assets continues to dominate the market.

Trend Analysis

Bitcoin (BTC): Breaks Key Support, Selling Pressure Continues

The 24-hour decline reached 8.2%, breaking below the $70,000 mark. As mentioned yesterday, if it falls below $70,000, we should look at $65,000, which is the last defense line of this bull market. If it breaks below this, it will revert to the state of 2023. If the support holds, a significant rebound is likely to occur. Macroeconomic factors such as the lack of interest rate cuts from the Federal Reserve and a decline in global risk appetite are exacerbating selling pressure, increasing the floating losses for institutional holdings. In the short term, if it can rebound above $75,000, it may relieve some pressure, but the technical analysis shows that the head and shoulders pattern risk still exists.

Ethereum (ETH): Plummets with the Market, Confidence Low

Ethereum fell 7% within 24 hours, with the price dropping below $2,100. Unlike Bitcoin, Ethereum did not experience a significant drop during yesterday's downturn; instead, it remained relatively stable, fluctuating around $2,100. However, based on the current hourly trend of Ethereum, further declines are expected. In the short term, watch the $2,000 mark; if it breaks below, it may test the $1,800 or even $1,600 area. If it breaks below $1,600, the mid-term upward structure will be completely damaged, entering a deep correction cycle. Current trading volume continues to shrink, with bullish momentum clearly insufficient and bearish pressure increasing, making a reversal signal difficult to see in the short term.

Potential Influencing Factors and Outlook

Currently, the market generally believes that the bear market has entered its "final stage," but caution is still needed for further declines to $65,000 or even $60,000. Progress in U.S. regulation, such as discussions on the cryptocurrency market structure bill, may bring a turning point. In the short term, the market may fluctuate around $70,000; if positive signals appear, a rebound to $80,000 is possible. In terms of operations, it is recommended to maintain light positions with a focus on shorting; Bitcoin can be shorted around $70,500, and Ethereum can be considered for shorting above $2,100. (Remember to control contract positions within 10% and set stop-loss orders.)

Disclaimer: The above content is personal opinion, and the strategies are for reference only, not as investment basis. Any risks taken are at your own discretion.

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