BTC Plunges 6.2% to $78.9K, Below MSTR $76K Basis
The post BTC Plunges 6.2% to $78.9K, Below MSTR $76K Basis appeared on BitcoinEthereumNews.com.
Key Metrics Current Price: $78,928.98 24h Change: -6.20% (High: $84,146.22 | Low: $75,719.90) 24h Volume: $38,795,700,593 RSI (14): 25.73 (Oversold) Stochastic K/D: 17.68 / 18.19 (Oversold) Trend: Downtrend (Below EMA 200 at $103,957.72) Bollinger Bands position: Below lower BAND ($79,435.43), signaling oversold conditions amid ATR volatility of 2,973.82. Price Action Analysis Bitcoin dropped 6.2% in 24h, breaching $80,000 for the first time since April 2025 (Jan 31 news) and MicroStrategy’s cost basis of $76,037 since Oct 2023. This aligns with broader market weakness: DXY +0.4%, BTC -4%, gold -2.5%, Nasdaq -0.8% (Jan 30). Price sits below EMA 20 ($87,392.89), EMA 50 ($89,879.40), and SMA 200 ($103,957.72). MACD bearish (-2,479.77 line vs. -1,158.47 signal). Technical Levels Key Supports (Strong ⭐): Level Price Distance Score S1 $75,769.87 -3.96% 73/100 ⭐ MTF S1 $75,765.90 -4.00% 79/100 ⭐ MTF S2 $74,508.00 -5.60% 78/100 ⭐ Key Resistances (Strong ⭐): Level Price Distance Score R1 $80,357.43 +1.86% 70/100 ⭐ MTF R3 $80,357.43 +1.86% 70/100 ⭐ MTF R2 $85,518.56 +8.32% 76/100 ⭐ Pivot Point: $78,867.20. Crash targets: $58,878 (-25.4%), $50,580 (-36%). MTF confluence: 9 strong levels (1D/3D/1W). Market Outlook Bearish momentum persists with Supertrend signal and price below all MAs, but oversold RSI/Stoch and lower BB suggest potential short-term bounce toward R1 $80,357. Deeper supports at $75,770 critical; failure risks $64,655 (-18%). Source: https://en.coinotag.com/btc-plunges-6-2pct-78-9k-below-mstr-76k-basis
Filed under: News - @ February 1, 2026 4:40 am