Bitcoin Faces Selling Pressure Amid Mixed Market Sentiment
By John Nada·Jan 27, 2026·2 min read
Bitcoin struggles to maintain upward momentum as bears sell at higher levels. Mixed sentiment surrounds the crypto market, with key altcoins also facing pressure.
Bitcoin is attempting a recovery, but according to Cointelegraph, higher levels are likely to attract solid selling from bears. Bitcoin (BTC) bounced off the $86,000 level, but bulls are struggling to sustain these higher levels, evident in the selling on rallies.
While analysts are divided about BTC's near-term prospects, Binance co-founder Changpeng Zhao suggested in an interview with CNBC that BTC may witness a super cycle in the next 12 months. In contrast, Bloomberg Intelligence strategist Mike McGlone expressed a bearish outlook, stating that BTC has put in a long-term top. He remarked that while he doesn't know where the bottom is, it may resemble a "low-price cure."
Despite the bearish sentiments, several institutional investors believe BTC is undervalued, with Coinbase reporting that 80% of surveyed institutional investors plan to either hold or increase their crypto positions in the event of a further decline.
In the broader market, the S&P 500 Index (SPX) showed signs of buying on dips after rebounding sharply off the 50-day simple moving average. However, sellers may seek to pull the price below this average, signaling a deeper correction.
The US Dollar Index (DXY) slipped below key support levels, with sellers aiming for a significant support threshold at 96.21. Meanwhile, altcoins such as Ethereum (ETH) and XRP are also facing challenges, with ETH breaking below critical support and XRP gradually falling within a descending channel.
As the market navigates these fluctuations, investors will need to closely monitor price movements and market sentiment to make informed decisions.