Bitcoin traded at $82,699 on Saturday, Jan. 31, 2026, as the market struggled to regain confidence after a sharp recent decline.
The cryptocurrency moved within a 24-hour range of $81,953 to $84,367, reflecting heightened volatility but limited directional conviction.
Market capitalisation hovered around $1.65 trillion, keeping bitcoin just outside the ranks of the world’s most valuable global assets.
Daily trading volume reached $53.64 billion, signalling active participation but a lack of decisive bullish momentum.
Analysts noted that price action remains fragile following a rejection near the $97,900 level earlier this month.
The rejection formed a clear lower high on the daily chart, reinforcing a broader bearish-to-neutral market structure.
Selling pressure intensified as bitcoin broke below a key consolidation zone on increasing red volume.
A downside wick near $81,040 has emerged as a critical swing support level watched closely by traders.
Failure to reclaim the $88,500 to $90,000 range has left the broader trend without confirmation of a reversal.
On the four-hour chart, bitcoin continues to post lower highs and lower lows, indicating sustained seller control.
Repeated attempts to rise above $85,000 have been rejected, establishing the area as short-term supply.
The rebound from $81,040 lacked strength, suggesting corrective movement rather than renewed accumulation.
Momentum indicators on lower timeframes remain negative, keeping price capped below the $86,000 mark.
Short-term charts show tightening price action with descending highs, a pattern often associated with absorption.
Weak volume on upward moves has reinforced concerns about limited buying power in the current range.
Immediate support is clustered around $82,800, with a deeper test of $81,000 possible if selling resumes.
The relative strength index hovered near 31, remaining just above oversold territory without a clear bullish signal.
Other indicators such as the stochastic oscillator and ADX reflected neutral conditions and indecisive trend strength.
The commodity channel index signalled oversold conditions, while MACD readings continued to favour downside momentum.
All major moving averages remained positioned above current price levels, reinforcing technical resistance overhead.