Just 30 days into 2026, and the crypto market is already entering a more bearish territory.
Bitcoin (BTC) and other cryptocurrencies has begun sliding and crashing in chunks. By Jan. 30, Bitcoin was trading at $81,847.15. This is a 21% slide in a year.
As Bitcoin sentiment continues to decline, analysts are predicting bear market conditions to last longer and with lower price targets.
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As per CoinGlass data, the total liquidation at press time stood at $1.38 billion in 24 hours, with BTC taking the largest share at $563.95 million.
According to trader and analyst Daan Crypto Trades, markets would retest the 200-week moving averages, which have “often been great value areas for long-term buys.”
The 200-week moving average (200 WMA) is a long-term technical indicator that smooths price data by averaging an asset’s closing prices over the past 200 weeks.
In crypto and stock markets, it helps identify long-term trends, support levels, and potential reversal zones for major assets like Bitcoin.
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“The closer you can accumulate to these MAs, the better value you’re getting,” the analyst said in a post on X, adding:
“Keep in mind, these are moving up by a few hundred bucks a week, so over time price can meet the moving averages even if it hovers sideways.”
Right now, the 200-week WMA is at $57,651.15 as per CoinGlass.
Such a move would mean a 30.23% decline from the current price and a 34.4% drop from the all-time high at $126,000.
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