BTCUSD Today, January 20: Dollar Slide, PCE Fears Fuel Schiff Crash Call
The bitcoin price slipped as BTCUSD fell from near US$96,000 to just over US$90,000. Gold printed fresh highs while the US dollar softened, adding to volatility. Peter Schiff issued a crash warning that rattled risk appetite. With PCE inflation due Thursday, traders in Australia are preparing for bigger swings. We track support around US$88,000 and a widely watched 200‑day EMA near US$69,000, plus intraday signals that could shape the next leg for local investors.
What moved markets today
Gold’s record run and a softer dollar usually support crypto, yet the bitcoin price still dipped as investors sought safety. A deeper dollar drawdown could later ease liquidity stress, but near term, caution rules. Markets also price currency risk and funding costs. Some analysts warn of broader shocks tied to the greenback and gold moves source.
Peter Schiff’s latest comments flagged a potential “spectacular crash,” arguing that strength in gold and silver signals stress building in risk assets. His view weighed on mood, even if contested by crypto bulls. For Aussies, such warnings can tighten risk limits around events. Schiff also suggested this setup is not positive for bitcoin source.
Key levels and technical setup
The bitcoin price hovers near US$93,600 with today’s high at US$95,485 and low at US$93,560. ATR around 3,253 suggests wide intraday ranges. RSI near 48.9 sits neutral, while ADX at 25.9 implies a firm trend. Bollinger middle near US$88,709 and upper near US$93,209 frame resistance zones. Watching closes versus these bands can help judge momentum shifts.
Traders cite US$88,000 as first support from recent swing lows. A deeper slide points to the 200‑day EMA near US$69,000 mentioned in market chatter. The 50‑day average around US$90,254 is an interim pivot. Failure to reclaim US$96,000 keeps bears active. A daily close back above the Keltner midline near US$90,105 would steady tone for Aussie hours.
PCE inflation and macro backdrop
Thursday’s US PCE inflation print could reset rate‑cut odds. A hot core reading may revive stagflation fears, pressure tech and squeeze liquidity, which can weigh on the bitcoin price. A benign print would ease real‑yield headwinds and support risk. Watch breakevens, front‑end yields, and dollar reactions as early tells for crypto direction.
For Australian investors, USD moves also affect AUD returns. A softer greenback can lift AUD, trimming local gains if BTC is flat in USD terms. If gold stays firm while PCE runs hot, risk appetite on ASX may cool. Consider spreads on ASX‑listed crypto ETFs, funding costs on local platforms, and timing around the data window.
Tactics for Australian investors
Keep sizing modest into PCE, use defined stops, and avoid chasing moves. ATR near 3,253 suggests allowing wider buffers. Some prefer staged entries or a small dollar‑cost‑average plan while volatility is high. Others hedge with cash or a gold sleeve. Whatever the approach, set alerts around US$88,000 and US$96,000 to act, not react.
If price reclaims and holds above US$96,000 on rising volume, a push toward recent ranges could follow. Failure there keeps chop likely. A break below US$88,000 opens a test of US$85,000–US$82,000, then the debated US$69,000 200‑day EMA. Map entries and exits in advance and review slippage, fees, and AUD/USD impacts.
Final Thoughts
The bitcoin price is caught between safe‑haven demand for gold, a softer dollar, and rising event risk. Schiff’s warning adds to the cautious tone, while charts highlight US$96,000 as near‑term resistance and US$88,000 as key support. For Australians, the AUD’s path and local product costs can tilt outcomes even if USD prices go sideways. Ahead of Thursday’s PCE inflation, keep positions sized for turbulence, place alerts at the main levels, and track yields and the dollar for early clues. If the data cools, risk may catch a bid. If it runs hot, defense first, then reassess. Stay disciplined and review plans daily.
FAQs
Why did bitcoin drop even as the US dollar weakened?
A weaker dollar often helps risk assets, but gold’s surge pulled flows to safety while traders de‑risked ahead of PCE. Liquidity conditions, rate expectations, and profit‑taking also matter. Together, they overpowered any short‑term currency boost to the bitcoin price during today’s session.
What are the most important levels to watch now?
US$96,000 is near‑term resistance, with US$93,200–US$95,500 acting as a supply zone on bands. First support sits near US$88,000. Below that, traders point to US$85,000–US$82,000 and the debated 200‑day EMA around US$69,000. A daily close back above the 50‑day near US$90,254 would steady tone.
How could Thursday’s PCE inflation affect bitcoin?
A hot PCE, especially core, could revive stagflation fears, lift real yields, and pressure the bitcoin price. A cooler print would support risk by easing rate worries and the dollar. Watch front‑end US yields, breakevens, and initial USD reactions for direction cues after the release.
What should Australian investors consider besides price?
Track AUD/USD because currency swings change local returns. Check spreads, funding rates, and fees on Australian platforms or ASX‑listed crypto ETFs. Set alerts around US$88,000 and US$96,000, and avoid oversized positions into data. Review tax records and keep a written plan to manage decisions during volatility.
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.
