BTCUSDT Perpetual – Quick Update: Bitcoin Dips Below $80K (Jan 31, 2026)
Bitcoin perpetual futures just broke below the psychological $80,000 level.
Current levels (Binance BTCUSDT perp):
Last / Mark Price: ~$79,028 – $79,014
24h change: -5.08%
24h low: ~$78,010
Supertrend (20,3.5): $80,377 (still acting as resistance above)
Key observations from the charts:
Top Traders (Positions): Long 68.03% / Short 31.97% → Long/Short Ratio 2.13 (heavily long-biased among large positions)
Top Traders (Accounts): Long 71.84% / Short 28.16% → Ratio 2.55
Overall Accounts: Long/Short Ratio spiked to ~2.55–3.20 in the last hour → retail & top traders are piling into longs even as price bleeds
Taker Buy/Sell Volume (30m): Mixed, but recent bars show decent buy aggression trying to defend – not enough to stop the dump yet
Open Interest: Dropping steadily from ~101K → ~97–98K BTC notional → longs getting liquidated or de-risking
Basis: Deep negative (backwardation) → futures trading well below spot/index → short funding rewards are high
Quick take:
Crowded longs + falling OI + negative basis + price under $80K = classic setup for either:
capitulation flush lower (possible re-test of $78K or lower if momentum stays bearish), or
violent short squeeze if buyers absorb the selling and flip the structure above $80K.
Right now the chart is still bearish (RSI(6) ~23, MACD deeply negative, price below Supertrend), but the extreme long skew among top traders could fuel a sharp rebound if any positive catalyst appears.
Watching closely for:
Break & close above $80,376 (Supertrend flip) → bullish signal
Continued OI bleed + more liquidations → downside pressure
What are you doing here – adding longs on the dip, waiting for confirmation, or riding shorts?
DYOR | NFA | High volatility – trade with caution 🚀🐂🐻