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.

Global Market Insights

BTCUSD Today: $80K Support in Focus as Markets Sell Off — February 01

ByHuzaifa Zahoor February 1, 2026February 1, 2026

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.