Bitcoin hits ‘fire‑sale’ value as capital flows capitulate; Galaxy warns it may fall to $56K

first published 2026-02-02T17:43:38Z

Bitcoin lost the key $84,000 support, dropped to an intrawweek low of $75,600 and closed the week at $76,919 (‑13% weekly). Short‑term resistance sits at $79K–$81K with stronger resistance at $84K and the POC $87.6K; immediate support is $75.6K and a deeper high‑volume node zone from $72K–$68K (losing $67K would open a path toward $58K). RSI is oversold and market sentiment is described as “Extremely Bearish.” The report says the market remains in a longer‑term bear phase while price stays below the 100‑week SMA.

AI Analysis

Bitcoin lost the $84,000 support, fell to $75,600 and closed the week at $76,919 (a 13% weekly drop); RSI is oversold and sentiment is “Extremely Bearish”; price remains below the 100‑week SMA — facts that support a strongly bearish view and make this actionable for short‑term traders given the listed support/resistance levels.

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