Bitcoin has fallen below $80,000 in the last few hours amid yet another wave of liquidations as January comes to a rather volatile end. Analysts in Kobeissi It should be noted that there have been three significant liquidations in the last 12 hours, with a total loss of $1.3 billion.
Such events, combined with a very scary market following last week’s price drop, have pushed Bitcoin below a key price level. According to renowned market expert Burak Kesmeci, Bitcoin’s behavior in the $80,000 price zone has significant consequences for the market trajectory.
Bitcoin falls below the ETF’s realized price as the risk of loss increases
In recent Post XKesmeci’s burak outlines the technical and on-chain significance of the $80,000 price level for the Bitcoin market. Before Bitcoin’s recent crash below $80,000, the asset retested this zone twice after a correction phase that began in early October 2025.
Each successful bounce following these retests reinforced $80,000 as a critical support level, with some chart patterns even pointing to a potential trend reversal. This highlighted the market’s technical sensitivity to this level prior to the recent loss. However, Kesmeci highlights the importance of the $80,000 price on the chain as it also functions as the cost basis for the Bitcoin Spot ETFs. Therefore, the recent price decline below $80,000 puts a gigantic group of institutional investors at risk of suffering unrealized losses.
In January 2026 alone, Bitcoin ETFs have already seen massive levels of withdrawals, resulting in a total net outflow of $1.61 billion. However, these numbers are likely to rise as sustained price declines below the ETF’s cost basis are expected to trigger large-scale panic buying among investors. In addition to the chain and technical importance, Kesmeci also notes that $80,000 is currently the true market average.
What’s next for Bitcoin?
According to Burak Kesmeci, a bearish scenario would require a weekly close below the $80,000 support level. If this is confirmed, the analyst warns that the bearish momentum could intensify, potentially pushing Bitcoin down the sequence towards $72,000, $68,000 and ultimately $62,000. This is because these levels coincide with noticeable clusters in the volume profile, representing potential areas where liquidity may accumulate and the price may stabilize temporarily.
On the other hand, in a bullish scenario, Kesmeci notes that a sustained bounce from current levels could shift the dynamics back to the bulls’ favor. The first major upside hurdle is at $90,000, followed by the 111-period plain moving average (SMA111) near $95,000, which is referred to as a critical level confirming a medium-term trend reversal.
A decisive break above the psychological resistance at $100,000 would further strengthen the uptrend and signal a potential resumption of the broader uptrend. At the time of publication, Bitcoin was trading at $77,832, reflecting a loss of 7.1% over the past day.
