Here’s Why Bitcoin’s Fall Below $80,000 Could Be a Deeper Pit – Analyst
In the past few hours, Bitcoin has fallen below $80,000 amid another wave of selling as January comes to a volatile end. Kobeissi analysts note that there have been three significant liquidation events in the past 12 hours, resulting in a combined loss of $1.3 billion.
Such a development, coupled with a very fearful market after last week’s price drop, has pushed Bitcoin below a key price level. According to the famous market expert Burak Kesmeci, the behavior of Bitcoin at this price point of $80,000 has important consequences for the market direction.
Bitcoin Slips Below Price Gained by ETF As Downside Risk Increases
In a recent X post, Burak Kesmeci puts the technical and on-chain importance of the $80,000 price level in the Bitcoin market. Before Bitcoin’s recent collapse below $80,000, the commodity had tested this area twice following a correction phase that began in early October 2025.
Each successful retracement from this retest cemented $80,000 as a key support level, with some chart formations even hinting at a potential trend reversal. This emphasized the technical sensitivity of the market at this level before the recent losses. However, Kesmeci highlights the on-chain importance of the $80,000 price point because it also serves as the basis for the cost of Bitcoin Spot ETFs. Therefore, a recent price drop below $80,000 puts a large group of institutional investors at risk of incurring unrealized losses.
In January 2026 alone, Bitcoin ETFs have already seen massive levels of withdrawals, resulting in a total outflow of 1.61 billion. However, these figures are likely to rise significantly as continued price declines below the ETF’s cost base are expected to trigger widespread, panic-driven redemptions among investors. In addition to its on-chain value and technology, Kesmeci also notes that $80,000 currently serves as the True Market Mean.
What’s Next for Bitcoin?
According to Burak Kesmeci, a bearish scenario will require a weekly close below the $80,000 support level. If confirmed, the analyst warns that bearish momentum could intensify, possibly driving Bitcoin down to $72,000, $68,000, and finally $62,000 respectively. This is because these levels correspond to clusters of significant volume profile, representing potential accumulation areas where liquidity can accumulate, and the price may stabilize temporarily.
Conversely, in a bullish scenario, Kesmeci notes that a sustained pullback from current levels may turn momentum back in favor of the bulls. The first major barrier is at $90,000, followed by the 111-period Simple Moving Average (SMA111) near $95,000, which is defined as an important level to confirm a reversal of the medium-term trend.
A decisive break above the psychological resistance of $100,000 will continue to strengthen the bullish case and indicate a possible resumption of the broader uptrend. At press time, Bitcoin is trading at $77,832, representing a 7.1% loss over the previous day.
