The post Bitcoin Falls To New 2026 Low, Altcoins Crumble: Is $56K BTC Next? appeared on BitcoinEthereumNews.com.

Key points: Bitcoin remains under pressure as the bears attempt to hold the price below the crucial $74,508 level. Several major altcoins are struggling to bounce off their support levels, increasing the likelihood of the resumption of the downtrend. Bitcoin (BTC) bulls attempted to start a recovery, but the bears sold at higher levels and pulled the price below $72,169. Galaxy Digital research lead Alex Thorn said in a note on Monday that BTC may plunge to its realized price of $56,000 over the coming weeks due to the lack of catalysts to reverse the trend. Not everyone is bearish on BTC as select analysts anticipate a bottom soon. Bitwise chief investment officer Matt Hougan said in an article on X that the crypto markets are likely to “come roaring back sooner rather than later.”  Crypto market data daily view. Source: TradingView However, according to one historical pattern, BTC’s recovery may take time. Crypto proponent Brett said in a post on X that BTC has closed below the 100-week simple moving average (SMA). During previous instances of a break below the 100-week SMA, BTC stayed below the level for 182 to 532 days. The only outlier was the 2020 COVID-19 flash crash when BTC rose back above the 100-week SMA in 35 days. Could BTC and the major altcoins start a relief rally, or will the support levels give way? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price prediction Buyers are struggling to hold BTC above the critical $74,508 support, indicating aggressive selling by the bears. BTC/USDT daily chart. Source: Cointelegraph/TradingView If Bitcoin price continues lower and slips below $72,945, it signals the resumption of the downtrend. The BTC/USDT pair may then collapse to the strong support at $60,000. The relative strength index (RSI)…

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Filed under: News - @ February 5, 2026 4:28 pm