January 27 News, as January 2026 approaches its end, Bitcoin is under multiple downward pressures, and market concerns about breaking below $70,000 are rapidly intensifying. The sharp decline in stablecoin market capitalization, worsening US investor sentiment, and extreme weather impacts on mining hash rate are simultaneously undermining Bitcoin’s support foundation.
First is the liquidity alert. Santiment data shows that the top 12 stablecoins by market cap shrank by approximately $2.24 billion in just 10 days, highly synchronized with Bitcoin’s roughly 8% decline during the same period. Unlike previous fund rotations within the crypto ecosystem, many investors are choosing to cash out directly to fiat, weakening the market’s absorption capacity. Analysts believe some funds are flowing into safe-haven assets like gold and silver, which also puts more pressure on altcoins.
Sell-off signals in the US market are also clear. The mainstream CEX premium index has fallen to a one-year low and entered negative territory, indicating US users are selling Bitcoin at prices below the global average. CryptoQuant data shows the 7-day average premium has hit its lowest point since the beginning of the year, reflecting a significant cooling of risk appetite among institutions and retail investors.
Meanwhile, an American ice storm has hit the Bitcoin mining network. The US accounts for about one-third of global hash rate. Due to extreme cold weather, electricity costs have soared, and many mining farms have been forced to reduce load. CryptoQuant analyst Darkfost pointed out that hash rate for miners like MARA has dropped sharply in a short period. If revenue remains under pressure, miners may sell Bitcoin to cover fixed expenses, adding further selling pressure.
The technical outlook is also pessimistic. Veteran trader Peter Brandt stated that Bitcoin has broken below the upward channel since December 2025, and the daily chart structure has weakened. His model indicates that if Bitcoin cannot regain above $93,000, the price could fall back to the $81,800 or even $66,800 region.
With the combined effects of shrinking stablecoin liquidity, increased US market selling pressure, and potential miner sell-offs, Bitcoin’s short-term trend faces severe tests, and $70,000 is becoming a key psychological level for both bulls and bears.
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