This is part of The Rio Times’ daily coverage of cryptocurrency markets and Latin American financial markets.
Key Points
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- Bitcoin traded near $89,110 after a $87,897–$91,320 swing; perps showed $89,076, down about 2.35%.
- ETF outflows and liquidation selling replaced the usual excuses, as macro fear hit all risk assets.
- Charts are oversold short-term, but $88,000 is the gate before $85,000, $80,000, and the $76,000 debate.
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\nBitcoin hovered around $89,110, after dipping near $87,897 and probing about $91,320.
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\nThe tone came from outside crypto. Coverage tied the move to renewed tariff threats and falling equities, while money rotated toward gold and silver.
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\nLeverage made the drop sharper. Market commentary put liquidations near $1 billion, with Bitcoin and Ethereum doing most of the damage.
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\nFlows then confirmed the stress. U.S. spot Bitcoin ETFs posted about $479.7 million of net outflows on Jan. 20. U.S. spot Ethereum ETFs shed about $230.0 million the same day.
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\nProfessional takes converged. A Delta Exchange analyst blamed macro headwinds and geopolitics. CoinSwitch pointed to US-Europe trade tensions. Giottus’s CEO cited a lack of fresh inflows and slower institutional allocation.
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\nMudrex noted Bitcoin near $89,000 as Ethereum lost $3,000. A WazirX founder said large caps are tracking global risk assets, not crypto narratives.
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Oversold bounce risks still dominate
\nThe technical picture is consistent with that caution. Weekly prints showed O $93,627, H $93,632, L $87,777, C $89,018, with RSI near 40 and a long-term average near $57,805.
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\nDaily RSI sat near 42. Four-hour RSI sank near 27, an oversold zone that often sparks short covering, not a new uptrend.
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\nFor bears, the map is simple. Lose the high-$87,000s, and $85,000 becomes the next test. Break that, and $80,000 becomes the magnet, with $76,000 back on the table.
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\nAltcoin action was scattered. NAORIS surged about 84%, RIVER rose about 22%, AXS gained about 21%, and ARC jumped, while XAUT climbed with bullion. On the downside, XMR fell about 15% and BERA about 11%, while ETH was about 5% lower in perps.
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\nBy the tape, ETH traded near $2,966, SOL near $127.48, XRP near $1.907, LTC near $68.84, and ZEC near $353.16. ZEC’s weakness also carried a governance overhang tied to a developer-team resignation dispute.
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