BTCUSD Today: $80K Support in Focus as Markets Sell Off — February 01
Bitcoin price usd is testing the key $80,000 support after a sharp global risk-off move. The BTCUSD pair trades near 78,648, between today’s low at 75,644 and high at 84,138. Losses accelerated as over $800 million in long liquidations hit leveraged positions, making $80K the near-term pivot. Price opened 84,110 and is down 6.94% from the 84,513 prior close. For Hong Kong investors, the USD peg means local quotes track this move closely. Traders now watch whether the bitcoin price usd can reclaim and hold above $80,000.
$80K in focus after the cross-asset slide
A broad selloff across global markets spilled into digital assets, knocking confidence and pushing prices through key levels. The move mirrors weakness in equities and other risk assets as liquidity tightened and sentiment soured. Coverage of the sweep lower across markets is detailed here source. For HK traders, this macro hit matters because local crypto liquidity often reflects US session risk tone.
Over $800 million in long liquidations forced rapid deleveraging, adding momentum to the slide and increasing intraday volatility. These events can reset positioning and set up two-way opportunities, but the path depends on whether dip demand rebuilds near $80,000. With the bitcoin price usd beneath recent support, market depth around $80K becomes the key gauge for a stabilizing bounce versus another leg lower.
Bitcoin briefly fell out of the global top-10 assets by market cap, a sentiment drag that may deter fast risk-on exposure until stability returns. That shift underscores how closely crypto now trades with broader risk cycles. See report here source. For Hong Kong participants, this headline risk can influence short-term flows via regional platforms.
Key levels and indicators to watch
Today’s range spans 75,644 to 84,138 after an 84,110 open and 84,513 prior close. Price sits below the 50-day average at 89,813.60 and the 200-day at 104,526.08, so bears hold the trend edge. The bitcoin price usd pivot remains $80,000. A sustained close back above that zone would signal sellers losing grip, especially if volume cools.
RSI at 48.91 shows neutral momentum rather than true oversold. MACD is negative at -245.82, but the histogram is positive at 721.64, hinting at early stabilization attempts. ADX at 25.89 indicates a strong trend still in play. If the BTC USD price firms while MACD improves toward zero, bulls could press for a larger bounce.
ATR of 3,252.65 highlights wide intraday swings that can trap late entries. Price is trading below the Bollinger lower band at 84,208.69 and the Keltner lower bound at 83,600.01, a stretched condition that often mean-reverts. Still, without a close back above band floors, the bitcoin price usd stays vulnerable to stop cascades on fresh lows.
Short-term scenarios into the next 72 hours
A fast reclaim of 80,000 to 84,000 would reduce downside momentum and improve the tape. Clearing the Bollinger lower band near 84,209 opens a move toward the middle band at 88,709.05 and the 50-day at 89,813.60. If that zone holds as support on a retest, traders may lean long with tight risk controls.
A stabilization band between 76,000 and 80,000 would let funding, spreads, and positioning normalize. With ATR near 3,253, intraday swings can still be large, so patience matters. In this path, the bitcoin price usd grinds, tests liquidity pockets, and waits for a clear catalyst before a trend move resumes.
A decisive break under 75,600 risks a quick slide to the year low at 74,420.69 as stops trigger. Below that, downside momentum could accelerate if liquidity thins. Traders may look for exhaustion wicks or a reclaim of broken levels before considering countertrend setups, especially during lower-liquidity Asia hours.
What this means for Hong Kong investors
Keep position sizes modest until volatility cools. The HKD peg reduces FX noise versus USD quotes, so PnL largely reflects crypto direction. Focus on defined risk with stop-loss placement and avoid oversized leverage during a crypto market selloff. If the bitcoin price usd stays under pressure, stagger entries rather than buying full size.
Use the intraday low at 75,644 and the 80,000 pivot for structure. Consider partial buys near support and scale out into strength toward 84,000–88,700. If momentum fades, respect stops. Avoid chasing rebounds after liquidation spikes. For shorter time frames, track order flow at round numbers where liquidity often clusters.
Watch if spot reclaims $80K and closes back above volatility band floors. Monitor volume versus the 657,956,204 average and whether sell pressure eases. Keep an eye on macro headlines that sway risk assets, as they can quickly impact the bitcoin price usd. During US hours, trend follow-through often sets the tone for Asia.
Final Thoughts
Bitcoin’s pullback put $80,000 at center stage. Price trades near 78,648 after a wide range and heavy liquidations, leaving the immediate battle around the pivot. Trend still favors sellers with spot below the 50-day and 200-day averages, while RSI sits neutral and volatility runs hot. A close back above band floors and $80K would improve odds of a deeper bounce toward 88,700 to 89,800. Failure to hold 75,600 risks a quick test of 74,420. For Hong Kong investors, respect the tape and size positions for volatility. Let the chart confirm, then act. The bitcoin price usd can recover quickly, but discipline matters more than speed.
FAQs
Why did Bitcoin drop below $80,000 today?
A broad risk-off move hit global markets and spilled into crypto, prompting over $800 million in long liquidations. That forced deleveraging accelerated downside and broke key levels. As positioning resets, the market is watching if $80,000 turns back into support or if sellers press toward recent lows.
What key technical levels are relevant now?
$80,000 is the near-term pivot. Intraday low is 75,644, with the year low at 74,420.69. On the upside, watch the Bollinger middle band near 88,709 and the 50-day average at 89,813.60. A close back above band floors would signal improving conditions for a rebound.
Is Bitcoin oversold on momentum indicators?
RSI at 48.91 is neutral, not oversold. MACD is negative, but the positive histogram suggests downside momentum may be easing. Price trades below Bollinger and Keltner lower bounds, a stretched setup that often mean-reverts. A sustained reclaim above $80K would strengthen that case, especially with lighter selling.
How should HK investors react to this volatility?
Consider smaller positions and clear stop-losses while volatility is high. The HKD peg limits FX swings versus USD, so returns mainly follow crypto direction. Focus on the $80,000 pivot. If the bitcoin price usd closes above volatility bands, partial adds can make sense. Avoid chasing spikes after liquidation events.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
