Bitcoin Price Crash To $76,000: Why This Analyst Is Warning Against Buying
Since the latest Bitcoin worth crash to $76,000, the broader crypto market has been on high alert, with sentiment shifting to extreme fear levels. A crypto analyst who has shared insights on Bitcoin’s newest market actions predicts more pain for the main cryptocurrency. He has additionally warned buyers towards profiting from the decline and shopping for BTC throughout this extremely risky and unpredictable interval.
Analyst Warns Not To Go Long After Bitcoin Price Crash
Crypto analyst Tyrex has warned buyers towards going lengthy on Bitcoin following the latest worth crash. Over the weekend, BTC experienced another devastating decline, dropping by greater than 14% in accordance with CoinMarketCap. For some buyers, this drop might seem as a possibility to buy the dip and go lengthy on the main cryptocurrency. However, Tyrex advises towards making such a transfer.
The analyst said in an X publish on February 1, 2026, that Bitcoin had crashed to a brand new low round $76,000 on January 31, confirming a bearish breakout. He famous that, primarily based on previous market actions during which comparable setups occurred, excluding fakeouts, Bitcoin is very unlikely to stage a full restoration again to $85,000. Instead, he stated the worth is extra prone to keep dumping till it completes its draw back transfer and reaches a worth discovery at decrease ranges.
Tyrex cited Bitcoin’s worth motion in May 2021, May 2022, and June 22, noting that huge worth crashes occurred throughout these intervals after comparable breaks in market construction. He stated Bitcoin failed to recover quickly in every case and truly continued to crash on the day by day chart after the primary red candle was printed.
The analyst’s accompanying Bitcoin chart exhibits the cryptocurrency buying and selling above $79,000 on the time of his evaluation, after it initiated a slight restoration from its earlier low close to $76,000. He projected on the chart that Bitcoin may quickly resume its decline and fall towards the $75,400 area, representing a greater than 4.5% decline.
Tyrex added {that a} main help stage sits across the $74,000 stage on the weekly chart, which may briefly maintain off additional draw back. According to Tyrex, this stage is equal to a key help close to $2,100 for Ethereum.
Analyst Shares Highly Likely BTC Decline
In his evaluation, Tyrex said that, given Bitcoin’s newest worth crash, structural weakness, and previous cycle traits, he expects the cryptocurrency to retest latest lows as soon as once more. Considering his view {that a} restoration is unlikely, the analyst means that the near-term outlook for BTC is predominantly bearish.
He famous that the $74,000 help is the primary space for potential lengthy positions. However, he expressed warning, noting that this stage is probably not notably sturdy since it’s comparatively distant on the weekly chart and might be damaged if Bitcoin continues its downward pattern.
