Technical Analysis

Bitcoin has slipped into a bearish setup after dropping below the key $82,000 low from November 2025, with the price recently trading around $78,560 and touching $77,082 in the last 24 hours. Crypto analyst XForceGlobal argues that this breakdown invalidates the prior bullish Elliott Wave structure and forces a new corrective wave count. His updated scenarios outline two distinct bearish paths that both point toward potential downside targets near the $60,000 area before any larger recovery unfolds.

Story Protocol's token IP fell about 18% over the past 24 hours as derivatives flows turned decisively risk-off. Roughly $17 million exited IP perpetuals and open liquidity slid to $68.93 million, while total liquidations reached about $1.19 million and funding turned negative. Price is tracking a $1.7–$1.0 support band and hovering near the mid-range around $1.4, with the $1 low from February 2025 back in view.

On 24 January, Nietzschean Penguin (PENGUIN) spiked from under $0.01 to a $0.167 all-time high before sliding about 75% to the $0.037–$0.042 area. A wallet "8cgRT" exited with a $92,700 loss after $305,300 in buys as momentum reversed. Fixed 1 billion supply and over 45,000 holders by late January 2026 did not halt the decline.

On February 1, 2026, Bitcoin slid toward the 77,000 dollar area, testing a key support after several weeks of declines. The 24 hour snapshot showed BTC at 77,028 dollars, down 0.98 percent. Michael Saylor hinted at continued accumulation and said Strategy would not be liquidated even if prices fall further.

Over the past week, Bitcoin moved toward $78K while Ethereum weakened, according to AMBCrypto. Select altcoins diverged: Hyperliquid rallied from the low $20s to test $32-$34, Canton advanced about 29%, and Stable spiked to $0.026 before easing to $0.023. Meanwhile, Solana fell ~15% and WLFI dropped ~26%.

According to Alphractal, total crypto liquidations hit $2.59 billion in the latest sell-off, with Ethereum accounting for $1.16 billion as ETH slid near $2,300. On-chain data showed whales "7 Siblings" and "0xB7" bought a combined $57.44 million in ETH, while MFI hovered around 41 and CMF stayed negative, signaling lingering downside risk.

Bitcoin entered February 2026 about $45,000 below its cycle peak after a 10.1% January slide to roughly $78,700. Historical CryptoRank data show February delivered +13.4% average and +11.6% median returns, topping most months except April and October. Strategy's 712,647 BTC stack near $73,000-$76,000 is seen as a pivotal support zone for any rebound.

Bitcoin stayed below $80,000 after a drop of more than 6%, and traders on X highlighted $74,400 and $49,180 as downside liquidity. Rekt Capital noted a 21–50 week EMA crossover last seen in April 2022, with BTC down 17% from $90,000 to $78,000, while a CME futures gap near $84,000 may pull price short term.

According to U.Today, the whale cohort known as '7 Siblings' accumulated 12,771 ETH for roughly $31 million at an average near $2,427 over the past 10 hours as Ethereum slid toward $2,400. ETH has broken below key moving averages and a January range; if $2,400 gives way, price could approach $2,200, while continued accumulation may aid stabilization.

Solana's price has retreated toward the $100 support area after repeated failures to overcome the $150 supply zone, with its weekly chart showing a confirmed bearish break since April 2025. Despite reports of rising on-chain activity and long-term targets ranging from $1,000 to $3,200, technical indicators such as an oversold RSI near 22 and multi-month lows on OBV point to further downside, with key levels at $95, $78, $64, and $47.9 in focus.