Bitcoin Headed to $80,000? Analysts Predict a Possible Free Fall

Updated

January 23, 2026

Gambar Bitcoin Headed to $80,000? Analysts Predict a Possible Free Fall

Jakarta, Pintu News – Bitcoin has experienced a sharp decline to its lowest point in recent weeks, erasing all the gains it made in 2026. Now, the cryptocurrency is struggling to hold a critical level that could determine the direction of its next move.

Losing Key Support

$BTC is testing the yearly open and POC, a critical level to hold.

Failure to hold here could send price back to the low $80Ks. pic.twitter.com/rqhkCwNErO
— Crypto | Stocks | News (@Wealthmanager) January 21, 2026

On Wednesday, Bitcoin (BTC) continued to decline and hit a three-week low of $87,263. Previously, the currency traded in the $90,000-$96,000 range after experiencing a surge at the beginning of the year, even touching $97,924, which was the peak two months ago. However, the high crypto market volatility of recent days, triggered by heightened geopolitical tensions, saw Bitcoin (BTC) lose about 10% of its value in the past week.

Also Read: Is Gen Z Investing Only in Crypto a Smart Decision or Not? Here’s What Analysts Say!

Technical Analysis Shows Downside Potential

$BTC has now formed a clear channel/flag structure.

Historically, many of these end up breaking down.

Lose the current lows again, and bears will be fully back in the driver's seat. pic.twitter.com/2P9JFQ7umi
— Jelle (@CryptoJelleNL) January 21, 2026

Wealthmanager, a trader, notes that Bitcoin (BTC) has erased all the gains made in 2026, even falling below its annual opening. According to him, this is a critical level to defend in the next few days, as losing this area could push the price back to the $80,000 range. Meanwhile, Crypto analyst Jelle observed a two-month bear flag structure on Bitcoin’s (BTC) daily chart, indicating a high probability of further declines.

Possible Repeat of 2022 Price Action

$BTC – Bear flag breakdown is happening and the purple box is breaking. Momentum is fully in the bears’ control, and if it sustains, we could see a free fall.

Let’s wait for the next base and observe the market. https://t.co/ww8bTHb19M pic.twitter.com/nE2Tg2aJGB
— Lyvo (@LyvoCrypto) January 21, 2026

Crypto Bullet, another analyst, draws a parallel between the current price action and Bitcoin’s (BTC) performance in early 2022. According to him, the pattern is similar to the 2022 fractal, which could indicate a major correction to come. At that time, Bitcoin (BTC) experienced a retracement of more than 40% from the late 2021 cycle peak, followed by a “dead cat bounce” in early 2022 and a second major correction towards a new low. However, there are two significant differences from the 2022 correction worth noting.

What’s Next for Bitcoin?

People ask me what I think about that 2022 $BTC fractal

Well, as you can see it perfectly matches the current PA but there’re two significant differences:

1. 👉 We haven’t yet tested the 50-Week MA (or 200-Day MA) – in 2022 we did;
2. 👉 Timing: if we match the 2022 fractal’s… https://t.co/pDlJhNozmj pic.twitter.com/HQu3Ox8N7y
— CryptoBullet (@CryptoBullet1) January 21, 2026

Currently, Bitcoin (BTC) is trading at $89,890, an increase of 1.2% in the daily time frame. While there is potential for one more surge above $100,000, it is important to remain vigilant as key supports are being tested. With volatile market conditions, investors and traders should prepare for the worst-case scenario while still hoping for the best.

Also Read: XRP price slumps, will it surge at the end of January 2026?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.