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#欧美关税风波冲击市场 BTC breaks below 93,000, ETH loses support at 3,230, the bullish and bearish struggle in the crypto market intensifies. Is it time to bottom fish or wait and see?

On January 19, 2026, the crypto market experienced a nerve-wracking moment! Bitcoin (BTC) sharply plunged below the $93,000 mark, Ethereum (ETH) fell over 3% simultaneously, and the total liquidation volume across the network soared, spreading panic. Is this correction a brief pause in the upward trend or the start of a new round of decline?
Technical indicators flashing red: Two major coins show signs of correction
From a technical perspective, both BTC and ETH are entering short-term correction cycles, with multiple key indicators issuing warning signals that warrant close attention.
1. Bitcoin (BTC): Daily chart turns weak, caution for death cross risk
On the daily chart, BTC has clearly broken below the EMA20 moving average ($92,673.25), and the Supertrend indicator has turned bearish. This indicates that the short-term bullish momentum has been exhausted, and the correction cycle has officially begun. The RSI is currently at 59.83, still in the neutral zone but showing a downward trend, with upward momentum clearly lacking; more critically, the MACD shows signs of forming a death cross. Once confirmed, it will likely accelerate the price decline. From a multi-timeframe perspective, the hourly chart shows a clear downward trend, with prices moving below short-term moving averages. Each rebound appears weak, and the fight around $92,000 has become intense. If this level is lost, the next target will be directly at $91,000. On the weekly chart, there is a risk of bearish divergence; the previous long wick top pattern indicates enormous resistance at the $100,000 level. Short-term, it’s unlikely to break through easily, and high-level oscillation is expected to continue.
2. Ethereum (ETH): Lengthening green bars, support levels at risk
ETH’s technical pattern is weaker than BTC’s. The daily chart also shows a break below the EMA20 at $3,256.8, and the Supertrend indicator has turned bearish. The RSI is at 52.3, showing a neutral to weak pattern with insufficient upward momentum. The MACD green bars are lengthening, and the death cross signs are becoming more apparent. Support near the zero line is crucial; once broken, the correction could deepen further. Regarding Bollinger Bands, ETH’s price has fallen below the midline, with the opening narrowing, indicating increased market volatility. The lower band around $3,180 is a key short-term support. If broken, it could trigger a move down to $3,150. The hourly chart also shows weak rebounds, with repeated tests of the $3,200 support. If this level cannot hold, market sentiment may further deteriorate.

Bearish resonance: macro + regulatory pressure
This correction in the crypto market is not an isolated event but a result of macroeconomic and market sentiment resonance. Three major bearish factors deserve attention:
1. Changing macro environment: The change in the Federal Reserve chairperson candidate has significantly cooled expectations for rate cuts, leading to rising US Treasury yields and a strengthening dollar. Under this background, global risk assets are under pressure. As representatives of high-risk assets, Bitcoin and Ethereum naturally decline in tandem. Additionally, ongoing trade tensions between Europe and the US continue to ferment, increasing global stock market volatility and further dampening crypto market sentiment.
2. Deteriorating capital sentiment: The total liquidation volume across the network has been increasing over the past 24 hours, with short positions rising. Market panic is intensifying. Historically, concentrated liquidations of high-leverage positions often trigger chain reactions, and once key support levels are broken, a cascade of sell-offs may occur. Current signs show capital fleeing the market, making it difficult for short-term sentiment to recover quickly.
3. Regulatory uncertainty: The progress of the US “Clear Law” bill is closely watched, but its passage within the year remains uncertain. Regulatory disagreements directly impact institutional capital inflows. Without additional capital support, the market will struggle to sustain previous upward momentum, and a sideways correction is likely in the short term.

Bottom fishing or wait-and-see?
The most prudent approach to the current correction is to avoid blindly bottom fishing or panicking sell-offs. Combining short-term volatility with medium- and long-term trends, here are two strategies for different risk preferences:
1. Short-term trading (intraday/4-hour): Light positions, strict risk control
For short-term traders, it’s recommended to adopt a “light trading” approach, avoiding high leverage:
- BTC short opportunities: When rebounding to $94,000–$95,000, if RSI has not broken above 60 and MACD confirms a death cross, consider small short positions with stop-loss above $95,500 (near intraday highs), targeting $92,000–$91,000.
- BTC long opportunities: If the price stabilizes at $91,900 and RSI rises above 50, try small long positions with stop-loss below $91,000, targeting $93,500–$94,000.
- ETH short opportunities: When rebounding to $3,270–$3,300, if RSI remains below 55 and MACD shows a death cross, consider small shorts with stop-loss above $3,340, targeting $3,200–$3,180.
- ETH long opportunities: If the price stabilizes at $3,190 and RSI rises above 50, try small longs with stop-loss at $3,150, targeting $3,260–$3,280.
2. Medium-term positioning (daily/weekly): Patience and wait for stabilization
For medium-term investors, the key strategy is “waiting for stabilization” before entering positions:
- BTC: Focus on the $90,000 support level. If it stabilizes here, consider phased building with stop-loss below $88,000, targeting $98,000–$100,000. If it breaks below $90,000, it’s better to wait for clearer stabilization signals.
- ETH: Watch the critical support zone at $3,150–$3,180. If it stabilizes, consider phased entries with stop-loss at $3,100, targeting $3,350–$3,400. If it breaks below $3,150, consider exiting to avoid further correction risk. Risk control: regardless of short- or medium-term, keep positions within 30%, avoiding high leverage. Keep a close eye on US stocks, the dollar index, and ETF fund flows. If macro sentiment worsens, adjust strategies immediately.

Market outlook: oscillation or correction? The key signals
In the short term, BTC is likely to oscillate between $91,000 and $95,000, while ETH trades within $3,190–$3,300.
Market direction depends mainly on two key signals:
First, whether macro sentiment improves. If expectations for Fed rate cuts reignite and US stocks stabilize, capital may flow back into crypto, with BTC potentially challenging $98,000–$100,000, and ETH testing $3,350–$3,400. Second, whether key support levels hold. If BTC falls below $90,000 or ETH below $3,150, it could trigger a deep correction, with BTC targets at $88,000–$85,000 and ETH at $3,100–$3,050.
Finally, a reminder: the current market is highly volatile with intense bullish and bearish battles. All operations should prioritize risk management. It’s recommended to adjust strategies based on technical indicators and news developments, avoiding blindly chasing gains or panic selling.