Bitcoin Breaks Below $93K Support After Risk-Off Liquidations

Bitcoin (BTC) has slipped below the $93,000 area, a level highlighted as a key support in recent market coverage, as broader risk-off conditions and long liquidations weighed on crypto majors. From a technical perspective, the immediate focus shifts to whether BTC can reclaim this zone or whether follow-through selling keeps price acceptance below it.

Market Context

According to CoinDesk, the move lower unfolded alongside a wider risk-off tone tied to tariff-related headlines, with crypto majors sliding while gold pushed to record highs. The reports also noted a sharp rise in forced selling, with roughly $680 million in long positions liquidated, adding mechanical downside pressure during the decline. In practical chart terms, that combination often coincides with faster-than-normal moves through previously defended levels, making post-break retests and market “acceptance” above/below the broken area especially important for near-term structure.

Data is limited in the provided sources regarding the full higher-timeframe trend and exact prior swing points beyond the $93,000 reference. As a result, the most defensible approach is to frame levels and scenarios around the clearly cited support area and the behavior around it (reclaim vs. rejection), rather than assuming additional unconfirmed pivots.

Key Levels

• Support: The immediate downside focus is the area below $93,000, as BTC is described as trading beneath this former support. If selling persists, traders often monitor for stabilization (slowing downside and tighter ranges) before inferring any base.
• Resistance: $93,000 now acts as the primary near-term resistance/invalidation zone. A sustained reclaim could suggest the breakdown lacked follow-through, while repeated rejection could reinforce it as supply.
• Critical zones: The $93,000 region is the key “decision zone” in the sources: acceptance back above it vs. continued trading below it may shape the next short-term leg.

Indicators Snapshot

The provided sources emphasize positioning and flows (risk-off sentiment and liquidations) rather than classic chart indicators like RSI, MACD, or moving averages. With $680 million of longs reportedly liquidated, the tape may reflect forced selling and thinner order books, which can exaggerate intraday swings and increase the odds of sharp retests around $93,000. Further confirmation would be needed from indicator-based data before drawing conclusions about momentum divergence or trend strength.

Scenarios (Next 24–72h)

• Bullish scenario: If BTC reclaims $93,000 and holds it on a retest (price acceptance back above the prior support), then the breakdown could be treated as a temporary sweep, with scope for a bounce as liquidation pressure cools.
• Base case: If BTC chops around $93,000 with mixed follow-through, then a range could develop as the market digests the risk-off impulse and liquidation-driven volatility fades.
• Bearish scenario: If BTC remains below $93,000 and rallies into that area get rejected, then the level may act as resistance and downside continuation could remain the higher-probability path until a clearer base forms.

Risk Notes

This analysis is for educational purposes only and does not constitute financial advice. Market conditions can change rapidly. Always conduct your own research and manage risk appropriately.

Sources

• https://www.coindesk.com/markets/2026/01/19/bitcoin-slips-below-key-support-as-tariff-talk-rattles-crypto-crypto-markets-today
• https://www.coindesk.com/markets/2026/01/19/crypto-majors-slide-as-tariff-fears-spark-risk-off-move-gold-zooms-to-record-highs
• https://www.coindesk.com/markets/2026/01/19/bitcoin-slides-below-usd93-000-as-usd680-million-longs-are-liquidated-asia-morning-briefing