Why crypto is going down today and why crypto is falling can be summed up in one sentence: this is a classic macro-driven risk-off move hitting a technically weak market, with my charts on Bitcoin, Ethereum, XRP and Dogecoin all pointing lower.

The cryptocurrency market extended its selloff on Wednesday, January 21, 2026, as Bitcoin dropped below $89,000 to trade around $88,626, Ethereum slipped to $2,920, and XRP logged its seventh consecutive down session at $1.89.

Let’s check together why crypto is falling today. We’ll take a look at the charts and go through XRP/USDT, BTC/USDT, ETH/USDT, and DOGE/USDT, walking step by step through a technical analysis based on my more than ten years of experience as an investor and analyst.

Why Crypto Is Going Down Today?

Tariffs, Greenland and Risk-Off

President Trump's arrival at Davos with his "Greenland-or-tariffs" ultimatum has pushed US-Europe relations to a breaking point, triggering a rotation out of high-beta assets like Bitcoin and altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception, countless cryptos have been launched. Many of these have met varying levels of success, though few have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There are currently over 5,000 altcoins and this number seems to grow constantly. The leading altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins c Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception, countless cryptos have been launched. Many of these have met varying levels of success, though few have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There are currently over 5,000 altcoins and this number seems to grow constantly. The leading altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins c Read this Term. The proposed tariffs, aimed at pressuring Denmark to reconsider control of Greenland, have met firm resistance from European leaders, raising fears of a prolonged trade confrontation that could escalate into a full-blown transatlantic trade war.

European Commission President Ursula von der Leyen stated that any EU response to US measures would be "unflinching, united, and proportional," reinforcing market concerns about broader economic spillovers. As one European politician put it, Trump's rhetoric serves as a "Nero warning" to the established international order, and this fracture in Western alliances is making Bitcoin and altcoins look even riskier in the near term.

Why crypto is falling today extends beyond just tariff headlines. Safe-haven repricing has accelerated as the EU weighs its "anti-coercion tool" and potential retaliatory trade actions, with gold investors now watching the $5,000 level as concerns mount. Meanwhile, billionaire investor Ray Dalio warned that the global economy may be entering a "new phase of financial conflict," telling CNBC that geopolitical disputes increasingly risk spilling into capital flows and asset allocation decisions.

Roughly $1.7 billion was liquidated from the crypto market in the last 24 hours according to Coinglass, while the Crypto Fear & Greed Index lingers in "Fear" territory. US spot Bitcoin ETFs have reversed course to post nearly $500 million in outflows over just two sessions, suggesting that last week's record inflows were driven by speculative hot money rather than solid, long-term accumulation.

For real-time Bitcoin, Ethereum, XRP and Dogecoin technical analysis as my charts test critical support zones with extreme downside risk, follow me on X (Twitter) @ChmielDk. I provide moving average updates, Fibonacci projections, and macro impact insights on why crypto is falling today.

Macro Pressure Points Driving Crypto Lower

As Filip Dzięciołowski from Cryps.pl warns, as long as "geopolitical turmoil from Greenland to Iran" persists, safe bets like gold look more attractive while "stocks and bitcoin" look riskier, which is exactly the kind of environment where crypto is going down today instead of bouncing.

Bitcoin Price and Technical Analysis: Why Bitcoin Is Falling?

Bitcoin has just completed six straight down sessions, with only a tiny 0.2% uptick today and is trading around $88,626. As you can see on my chart, Bitcoin remains locked in a consolidation below the 200 EMA, which confirms that in my technical view the market is officially in a downtrend.

According to my short-term chart, the immediate scenario is a test of the lower boundary of the sideways range around $74,000. Bitcoin's current price of $88,626 sits only 5% above this critical support zone, which represents the November consolidation lows and the April 2025 yearly minimum of $74,420.

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My technical analysis shows that the first downside target from the daily chart is $74,000, followed by $68,000 from the weekly chart, where the 200-week EMA is currently running. If we reach that weekly level, Bitcoin would be trading nearly 23% below current prices and testing a zone that has historically marked major cycle lows.

My extreme bearish scenario, based on Fibonacci extensions, points to around $52,000 on the Bitcoin chart, which would be the lowest since August 2024. From current levels near $88,626, this represents a potential decline of over 41%, though such a move would require a complete breakdown of market structure and sustained macro stress.

Bitcoin Technical Roadmap

Current price: $88,626 (Wednesday, Jan 21, 2026)
Intraday low: $88,965 (lowest in 2+ weeks)
Six-session decline: From ~$98,000 peak on Jan 17 (-9.6%)

My downside targets:

• Immediate: $74,000 (November consolidation lower band, April lows, -16%)
• Medium-term: $68,000 (200-week EMA zone, -23%)
• Extreme Fibonacci: $52,000 (100% extension, August 2024 lows, -41%)

Invalidation levels:

• Reclaim $98,000 (recent peak)
• Break above 200 EMA
• Establish higher highs on daily chart

Joel Kruger, the LMAX strategist, still views Bitcoin's pullback as "corrective rather than trend-breaking," noting that the asset has fallen back into a familiar consolidation range and remains above its November lows, preserving the broader medium-term uptrend structure. He adds that Bitcoin is increasingly viewed as the "defensive anchor within the sector" compared with high-beta alts, but in the near term, my chart still points lower.

Ethereum Price and Technical Analysis: Why Ethereum Is Going Down Today

Ethereum (ETH) price is logging its fourth straight losing session, currently down about 0.7% on Wednesday and trading near $2,920. As you can see on my chart, ETH is clearly targeting at least $2,750, which is the lower boundary of a two-month-long consolidation range.

The upper boundary of this range sits around $3,400, which I define as the zone created by the 9 October lows and the local highs from December and early January. Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term fell below the $3,000 mark for the first time in three weeks during Tuesday's selloff, recording steeper declines than Bitcoin and shedding nearly 4% in a 24-hour window.

My medium-term downside target is the June lows near $2,100, extending toward the round psychological support at $2,000. From current prices around $2,920, this represents a potential decline of roughly 28-32%, which would take Ethereum back to levels last seen during the summer consolidation phase.

My extreme bearish scenario, based on Fibonacci extensions, points toward the $1,000 area, which would mark the weakest Ethereum price since November 2022 and represent a stunning 66% decline from current levels. While this is an outlier scenario, it illustrates the tail risk embedded in the current technical structure on my chart.

Ethereum Technical Levels

Current price: $2,920 (down 0.7% Wednesday)
Recent low: $2,965 (below $3K for first time in 3 weeks)
Consolidation range: $2,750-$3,400 (two-month sideways pattern)

My downside targets:

• Immediate: $2,750 (lower consolidation band, -6%)
• Medium-term: $2,100 (June lows, -28%)
• Round support: $2,000 (psychological level, -32%)
• Extreme Fibonacci: $1,000 (Nov 2022 lows, -66%)

Bullish invalidation on my chart:

• Reclaim 200 EMA
• Break back above $3,400 (upper consolidation band)
• Push through $3,800 (cluster of autumn 2025 lows/highs)

XRP Price and Technical Analysis: Why XRP Is Falling

XRP has just logged seven straight red sessions, and today (Wednesday, 21 January 2026) it is drifting toward the lower end of the range, trading around $1.89. Since the early-January test of two-month highs on January 6, there has been just one meaningful up session on January 13, with the rest of the days dominated by declines, that's exactly what my chart is highlighting.

XRP recorded a 3.42% decline in Monday's session and continues to trade defensively as the broader crypto market selloff intensifies. As you can see on my technical setup, XRP is now facing a direct test of local support at $1.80, which overlaps with this year's and last year's lows.

The moving averages on my XRP chart clearly point to a bearish trend, and my technical analysis shows that a clean break below $1.80 opens the way to deeper depreciation. In an environment where investors are running from risk, higher-beta, litigation-scarred names like XRP tend to suffer more, which aligns with the seven-session losing streak visible on my candles.

XRP Downside Roadmap on My Chart

Current price: $1.89 (Wednesday, 7th down session)
Critical support: $1.80 (yearly/prior-year lows)
Sessions: 7 straight declines (only 1 up day since Jan 6)

My downside targets if $1.80 breaks:

• First major target: $1.25 (flash-crash low from October 10)
• Extreme Fibonacci scenario: $0.50 (lowest XRP price since November 2024)

If this support band at $1.80 breaks on my technical setup, XRP could accelerate lower toward the $1.25 zone, which I identify as the flash-crash low from 10 October. That would represent a 34% decline from current levels and would likely trigger significant stop-loss cascades among leveraged traders.

My extreme Fibonacci-based scenario on my chart points to around $0.50, which would be the lowest XRP price since November 2024 and represent a catastrophic 74% decline from current prices. While this is a tail-risk scenario, the technical structure on my longer-term charts keeps this level in play if the macro environment deteriorates further and liquidations accelerate.

Dogecoin Price and Technical Analysis: Why Dogecoin Is Going Down Today

Since 6 January, Dogecoin (DOGE) has had only one green session (13 January), and is now falling for the eighth straight day, down around 0.7% on Wednesday and changing hands near $0.1254. As you can see on my chart, DOGE is clearly pointed toward this year's lows in the $0.12065 region, which also lines up with the lower limit of the recent consolidation.

Dogecoin recorded a 2.23% decline in Monday's session, making it one of the better performers among major cryptocurrencies on a relative basis, though the absolute trend remains firmly negative. On my technical setup, Dogecoin could accelerate lower, potentially slipping below $0.08, which is the next major downside zone I am watching if the current support fails.

Dogecoin Technical Structure

Current price: $0.1254 (8th straight down day)
Winning sessions since Jan 6: Only 1 (out of 15 total sessions)
Current target: $0.12065 (2026 lows, lower consolidation limit)

My downside scenario:

• If support breaks: Below $0.08 (next major support zone, -36%)

Bullish reversal conditions on my chart:

• Reclaim $0.18 (200 EMA location)
• Break above mid-Oct lows / mid-Nov highs resistance cluster
• Reopen path toward $0.26 (last seen 3 months ago)

From my perspective, the negative scenario gets properly neutralized only if Dogecoin can reclaim at least $0.18, where the 200 EMA currently sits and where a key resistance cluster formed by the mid-October lows and mid-November highs is located. A move back above that region would reopen the way toward $0.26, last seen only three months ago in October 2025.

FAQ: Why Crypto Is Going Down Today

Why is crypto going down today?

Why crypto is going down today: Bitcoin fell to $88,626, Ethereum to $2,920, XRP logged 7th straight decline to $1.89, driven by Trump tariff threats over Greenland triggering risk-off rotation. According to my technical analysis, Bitcoin targets $74K consolidation lower band, with extreme risk to $52K on Fibonacci extensions. $1.7B liquidated in 24 hours, $500M ETF outflows in 2 sessions.

Why is Bitcoin falling?

Bitcoin is falling after 6 straight down sessions, now at $88,626, as you can see on my chart below 200 EMA in confirmed downtrend. My technical analysis shows immediate test of $74K (Nov consolidation/April lows), then $68K (200-week EMA), extreme scenario $52K (-41%). EU Commission President warns response will be "unflinching" to tariffs, JGB yields hit records, tightening global liquidity.

Why is Ethereum going down today?

Ethereum down 4th straight session to $2,920, fell below $3K for first time in 3 weeks. On my chart, ETH targeting $2,750 lower consolidation band, then $2,100 June lows (-28%), extreme $1,000 Fibonacci scenario (-66%). ETH/BTC ratio sliding as Ethereum trades "more like a growth asset with higher sensitivity to liquidity and risk sentiment" per LMAX analyst.

Why is XRP falling?

XRP falling 7th straight session to $1.89, only 1 up day since Jan 6 highs. Moving averages on my XRP chart clearly point to bearish trend, with direct test of $1.80 yearly/prior-year lows support. My technical analysis shows break below $1.80 opens way to $1.25 flash-crash lows (-34%), extreme Fibonacci $0.50 (-74%). Higher-beta, litigation-scarred names suffer more in risk-off.

Why is Dogecoin going down today?

Dogecoin down 8th straight day to $0.1254, only 1 green session since Jan 6 (out of 15 total). On my chart, DOGE targeting $0.12065 (2026 lows, lower consolidation), break opens path below $0.08 (-36%). Bullish invalidation only if reclaim $0.18 (200 EMA, Oct/Nov resistance cluster) toward $0.26. Macro risk-off draining liquidity from most speculative corners.