Bitcoin is in a downturn: A critical $84,000 level has been determined.

The sharp decline in Bitcoin's (BTC) price has become a new source of concern for investors. In the last trading day of the week, Bitcoin fell below the 95 thousand dollars level, marking its lowest performance since May. The intense selling in the markets has created a renewed atmosphere of anxiety in the cryptocurrency world. Bitcoin started the week at around 105 thousand dollars, but as of Friday evening during U.S. trading hours, it tested its lowest levels and recorded a weekly loss of approximately 9 percent.

During this period, the outlook for major altcoins became even more negative; Ether (ETH) experienced a loss of over 11 percent, while Solana (SOL) fell by 15 percent. However, a notable exception this week was XRP, which was launched as a spot ETF in the U.S. and only dropped by 1 percent, showing a stronger stance.

According to analysts, the primary reason for Bitcoin's pullback is the transition into a “information vacuum” period due to the lack of incoming economic data in the U.S. The government shutdown that has been ongoing since early October has halted data flow, making it difficult for investors to find direction. The Bitfinex team noted that this uncertainty stems entirely from the lack of political and economic data.

Macroeconomic uncertainties continue to increase pressure on Bitcoin. The funding bill that ended the government's shutdown is only valid until January 30, which has led to a decrease in risk appetite. Macro analyst Noelle Acheson characterized this sharp correction in Bitcoin as an “inevitable cleansing process” after months of sideways movement. Acheson stated that a more favorable outlook for Bitcoin could arise if expectations for liquidity expansion and financial easing strengthen in the long term. However, it is emphasized that the current wave of selling must be completed for this to occur.

John Glover, the investment director of Ledn, pointed out that critical levels on the Bitcoin chart have been broken downwards, indicating that Bitcoin’s loss of the 23.6 Fibonacci support just below 100 thousand dollars could push the price towards the next significant support level of 84 thousand dollars. Glover added that the decline will not progress entirely linearly and that there could be occasional breakouts above the 100 thousand dollar level during this process, but the overall correction could last until summer 2026. The analyst stated that Bitcoin is currently in a “bear market correction” and that volatile movements will continue in the coming months.