Bitcoin breaks key support level as Glassnode warns of further price breakdown

In a significant development for the cryptocurrency market, Bitcoin has recently breached a crucial support level, raising concerns among investors and analysts alike. This downward movement has led Glassnode, a prominent blockchain analytics firm, to issue a warning about the potential for further price breakdowns in the near future. The breaking of such a vital support level not only signals a shift in market sentiment but also suggests that the cryptocurrency could face increased volatility and downward pressure, prompting many to reevaluate their investment strategies. As traders watch the situation closely, the implications of this price action could reverberate throughout the broader market, influencing other cryptocurrencies and overall investor confidence. source: https://www.coindesk.com/markets/2026/01/31/bitcoin-breakdown-opens-path-to-usd80-000-true-market-mean-glassnode-says