The 'Path of Least Resistance' is currently straight down, and the stock market is the only thing left standing. I'm watching my $74,500 Bitcoin level closely, but that $35k 'Worst Case' is on the table if stocks drop 20%. Are you buying this dip, or are you waiting for the Stock Market to flush first? Let me know your plan! Video by Gareth Soloway.
In this video, Gareth breaks down the "Bear Flag" he's been warning about for weeks and shows how the "Path of Least Resistance" has led us straight into this nosedive. We dive deep into the technicals of the Bitcoin Head & Shoulders pattern and why a stock market correction could trigger a "Worst Case" drop to $35,000.
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Bitcoin (BTC) is experiencing a significant sell-off today, January 31, 2026, plunging as much as 7.1% to a daily low of approximately $78,159. The price has broken below the critical $80,000 psychological support level, reaching its lowest valuation since April 2025. This downturn follows a week of intense volatility, with BTC losing roughly 11% over the last seven days.
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Bitcoin Insights Today
The sharp decline is attributed to a combination of geopolitical and macro factors:
-Geopolitical Tensions: Reports of explosions at Iran's Bandar Abbas port and subsequent U.S. sanctions on Iranian-linked crypto exchanges have triggered a "risk-off" sentiment.
-Macro Economic Stress: Sentiment was rattled by the selection of Kevin Warsh as the next Federal Reserve chair, which markets perceived as a hawkish signal, alongside concerns over a brief U.S. government shutdown.
-Liquidity Squeeze: The sell-off occurred during thin weekend trading liquidity, which magnified the downward pressure and led to over $1.7 billion in liquidations across the broader crypto market.
Key News & Insights
-Market Sentiment: Bitcoin "fear" sentiment has hit a 2026 high. However, analytics firm Santiment notes that such extreme negativity often signals a period of capitulation, which may limit further downside if the price stabilizes near $78,000.
-Market Dominance: Despite the price drop, Bitcoin maintains a market dominance of approximately 59.2% to 61%, as altcoins like Ether and Solana posted even steeper losses of 10-11% today.
-Corporate Holdings: Analysts are watching a potential SpaceX-Tesla merger that could consolidate nearly 20,000 BTC under a single entity.
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