<div id="readability-page-1">Bitcoin fell below $90,000 on 21 January. The drop extends a broader pullback that a sharp wave of forced unwinds has accompanied across the crypto derivatives market.On the 12-hour timeframe, Bitcoin traded as low as $89,162 before settling around $89,368, down roughly 1.9% on the session. The move also pushed the Relative Strength Index [RSI] to -33.7. This level typically signals weakening momentum after sustained selling pressure.<div id="attachment_563590"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/BTCUSD_2026-01-20_19-44-07.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2230" height="1414" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/BTCUSD_2026-01-20_19-44-07.png"/>Source: TradingView</div><h2>A leverage flush dominated by long liquidations</h2>Liquidation data showed the sell-off was driven largely by long-side leverage being taken out.According to CoinGlass figures, total liquidations reached $708.88m over the past 24 hours. $648.78m was from long positions versus $60.09m from shorts.<div id="attachment_563591"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-20-at-19.47.10.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="974" height="954" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-20-at-19.47.10.png"/>Source: Coinglass</div>Over the past 12 hours, liquidations totaled $466.40m, again skewed heavily toward longs [$422.68m] compared with shorts [$43.72m].CoinGlass also reported that 166,432 traders were liquidated during the 24-hour window.This kind of imbalance typically points to a market that was positioned for continuation or a bounce. However, it was caught offside as spot prices pushed lower, triggering cascading stop-outs.<h2>Bitcoin leads the downturn as traders watch key levels</h2>With Bitcoin losing the $90k handle, attention is likely to shift to whether price can quickly reclaim that psychological level, or whether sellers continue to defend it on any rebound.From a market structure perspective, the combination of a sub-$90k print and RSI near the low-30s suggests the move has entered a more fragile phase. The bounces can occur, but are often volatile and sensitive to headline-driven risk sentiment and funding positioning.Still, the clearest signal from the data is positioning. The liquidation skew shows the market has been deleveraging aggressively. This can sometimes reduce near-term sell pressure once forced liquidations slow.<hr/><h2>Final Thoughts</h2><ul><li>Bitcoin breaking below $90k coincided with a leverage reset, with roughly $708.9m liquidated in 24 hours and longs taking the bulk of the hit.</li><li>With RSI near -34 on the 12-hour chart, BTC is weakening at support, making the next moves around $90k a key indicator of sentiment and positioning.</li></ul><hr/></div>

Bitcoin fell below $90,000 on January 21, marking a significant drop accompanied by $708.88 million in liquidations, primarily from long positions. The price reached a low of $89,162 before settling at $89,368, down 1.9%. The market is experiencing a leverage flush, with 166,432 traders liquidated. The Relative Strength Index (RSI) indicates weakening momentum, suggesting a fragile market phase. Attention is now on whether Bitcoin can reclaim the $90k level, as the market has been aggressively deleveraging, potentially reducing near-term sell pressure.

- Bitcoin fell below $90,000 on January 21, continuing a pullback linked to forced liquidations in the crypto derivatives market.  
- Total liquidations reached approximately $708.88 million, predominantly impacting long positions, resulting in 166,432 traders being liquidated.  
- The market's weakening momentum, indicated by the relative strength index near -34, suggests that the price dynamics around the $90k level will be critical for future sentiment.

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Bitcoin drops below $90k as $708.9m crypto liquidations hit leveraged longs