I came across this article after reading a comment on Twitter about the new BTC Futures market. It basically shows how futures are most likely steering the wheel and why the price has dropped/major price stops.
(I take no credit for this article, just sharing what I find to be interesting and possibly valuable info.)
https://www.tradingview.com/chart/BTCUSD/E25dvVua-BTCUSD-Potential-new-low-on-26th-of-January/