Both BTC and ETH are having news about ETFs all over and that has caused the price to pump.
There were few large whales who took profits and dumped the price down which caused a huge volatility in the market.
So may be that's why people are not willing to place any bets this time.
It is possible that the price will touch below $40k in a short time but I am not sure that it will be right on January 31, possibly the price could be at the predicted $37,501 - $40,000
but the most likely thing is that at $40,001 - $45,000 they will maintain that price above $40k in the next few days, if that continues until the daily trend goes up again then the weekly charts will also return to an uptrend.
But I remain confident that the price will soar in the end so still the bitcoin halving will determine the final outcome compared to the ETF news out there. one more thing people will not sell it cheaply because probably most people know about the 4 year cycle.
Now as we have investors confidence is low, and no good activity is coming with this all momentum can go down and within next few days we can have another drop which is brought this more troubling, but currently any prediction is not possible, but negativity is happening around which is not good for the price to stay at any positive figure.