BTCUSD Today: February 01 $80K Support Tested After $800M Liquidations
Bitcoin price USD wobbled as $80,000 support was tested after more than $800 million in long liquidations. As of publication, BTCUSD traded near $78,648, down 6.94% on the day, with an intraday low at $75,644 and high at $84,138. A sharp silver sell-off and a stronger dollar after reports on Trump’s preferred Fed chair pick weighed on risk assets. For Hong Kong investors, USD moves translate directly via the HKD peg, so swings can feel fast and large overnight.
What moved the market today
Bitcoin slid below $79,000, putting the $80,000 round number in play as supply overwhelmed bids. The Bitcoin price USD sits around $78,648, with a daily range of $75,644 to $84,138. The year high is $126,296 and year low is $74,420.69. The 50-day average at $89,813 is now a resistance zone that traders in HK will watch during Asia hours.
Risk appetite cooled after a sharp silver sell-off and a firmer dollar. Reports around Trump’s pick of Kevin Warsh for Fed chair added to policy uncertainty, lifting the greenback and pressuring crypto. Coverage from the Financial Times highlights the slide in context source, while CNBC details the silver-driven risk-off tone source.
Derivatives, liquidations, and HK takeaways
Over $800 million in long-side crypto liquidations accelerated the drop as stops and margin calls hit across venues. When liquidity thins, forced selling can push BTCUSD price through nearby levels, then snap back quickly. For retail traders, this means wider slippage and faster moves around key thresholds, especially when macro headlines hit during lower liquidity windows.
HK investors price exposure in HKD but most venues quote in USD. With the HKD pegged, a $1,000 move in Bitcoin is roughly HK$7,800. During Asia mornings, order books can be patchy after US-led headlines. Use limit orders, check platform fee tiers, and confirm whether your SFC-licensed exchange supports advanced risk controls before placing larger orders.
Technical picture and key levels
RSI at 48.91 is neutral, while ADX near 25.89 signals a firm trend. MACD at -245.82 with a rising histogram suggests bearish momentum is easing. Williams %R at -54.69 and CCI at 41 lean neutral. Together, these point to a choppy market where the Bitcoin price USD could consolidate before a clearer trend resumes.
Price trades below the lower Bollinger Band at $84,209 and the Keltner lower at $83,600, a sign of near-term overshoot. The middle Bollinger at $88,709 and the 50-day average at $89,814 are overhead resistance. On the downside, $80,000 is a psychological pivot, with $75,644 and $74,421 as nearby supports to monitor.
ATR at 3,252 implies typical daily swings near $3,250 per coin. For HK accounts, that is roughly HK$25,000 per BTC at the peg. Position sizing and staggered entries help manage gaps during US to Asia handover. Avoid overuse of leverage when crypto liquidations rise, since moves can widen spreads and force exits.
Scenarios, probabilities, and planning
Our models show a baseline glide path if conditions stabilize. Internal projections place monthly at $92,791, quarterly at $125,516.64, and yearly near $95,894. These are not guarantees. The Bitcoin price USD may rebound toward the Bollinger middle if selling fades, though resistance near the 50-day average will be a test.
If $80,000 fails again and the session low at $75,644 breaks, price could probe the $74,421 year low. Another wave of crypto liquidations or a stronger dollar would add pressure. A daily close back above $84,000 would ease stress, while reclaiming $89,800 would shift momentum toward range recovery.
Set alerts around $80,000, $84,000, and $89,800. Consider splitting orders to reduce slippage during Asia open. Factor HKD funding routes, withdrawal fees, and custody choices. For longer horizons, focus on total exposure and cost basis rather than minute-to-minute moves in BTCUSD price. Stay aligned to your risk limits and timeline.
Final Thoughts
Bitcoin price USD tested $80,000 as risk assets reeled from a silver sell-off and a stronger dollar. With over $800 million in long liquidations, intraday swings widened and liquidity thinned. Technically, price sits below lower volatility bands, with $80,000 as a key pivot, $75,644 and $74,421 as supports, and the 50-day average near $89,814 as resistance. For Hong Kong investors, the HKD peg means USD-driven swings translate quickly, so sizing and entry discipline are crucial. Actionable takeaway: set level-based alerts, use limit orders, and avoid excessive leverage into headline risk. A close above $84,000 would ease pressure, while a reclaim of $89,800 would improve the short-term backdrop.
FAQs
Why did Bitcoin fall below $80,000 today?
A sharp silver sell-off and a stronger US dollar dampened risk appetite, while over $800 million in long-side crypto liquidations sped up the decline. These factors pushed the Bitcoin price USD through key levels during thinner liquidity, especially between the US close and the Asia open.
What levels should Hong Kong traders watch now?
Watch $80,000 as the main pivot. Near-term support sits around $75,644 and $74,421. On the upside, $84,000 reduces stress, while $88,709 and the 50-day average near $89,814 are resistance zones. Use alerts and consider limit orders during Asia’s morning session.
Is Bitcoin oversold on technicals right now?
Price trades below the lower Bollinger Band at $84,209, which often signals near-term overshoot. However, RSI is around 48.91, which is neutral. Mixed signals suggest potential consolidation. A close back inside the bands and above $84,000 would hint at stabilizing momentum.
How should HK investors manage volatility in BTC?
Estimate risk using ATR. With ATR near $3,252, daily swings can reach about HK$25,000 per BTC at the peg. Consider smaller position sizes, staggered entries, and limit orders. Avoid high leverage when crypto liquidations are elevated, since spreads and slippage can widen quickly.
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.
