Bitcoin crashed hard today. The digital currency plunged into the $75,000 range after sellers dumped massive amounts, wiping out more than 10% from recent highs and pushing prices below the $80,000 mark for the first time since April 2025.
The drop happened fast and brutal. Within just a few hours, Bitcoin fell from its 24-hour peak of $84,356 all the way down to $75,644. That’s a pretty nasty dive that caught a lot of traders off guard. The selling pressure got so intense that it triggered widespread liquidations across derivatives markets, with sellers basically steamrolling any buyers who tried to step in.
Things got really ugly once Bitcoin couldn’t hold $82,500.
After that support level broke, prices just fell through what traders call “thin liquidity zones” – basically areas where there aren’t many orders to catch the falling knife. Most pros didn’t see it as a normal pullback. They called it a deleveraging event, which is Wall Street speak for “people got forced out of their positions.”
The daily chart tells the whole story. Bitcoin broke below a key rising trendline and also smashed through the 50-day exponential moving average sitting near $90,000. That level’s now turned into resistance, which means Bitcoin will have to fight to get back above it. Volume surged during the drop too, and that’s important because it shows this wasn’t just weak hands selling – it was forced exits.
But here’s something interesting that’s getting overlooked. On-chain data shows a spike in new Bitcoin addresses over the past 24 hours. That’s actually the highest number we’ve seen in nearly two months. So while prices are getting hammered, new people are still jumping into Bitcoin.
The crypto market got hit harder than traditional assets, but Bitcoin actually held up better than gold, which suffered an even steeper fall. With Bitcoin down 6% to 8%, everyone’s watching to see if it can find its footing or maybe even reclaim that $82,000 to $84,000 range.
And there’s more drama happening in Washington. The U.S. government faces a partial shutdown after Congress missed the deadline to pass a full-year spending plan. Several departments had to temporarily halt funding. The Senate approved a deal to keep most agencies open, but it still needs House approval. Lawmakers return from recess on Monday, so that’s another thing markets are watching.
Right now Bitcoin trades at $77,825, down 7% over 24 hours. Trading volumes hit $75 billion, which shows just how intense the selling got. The digital currency sits 8% below its seven-day high but only 1% above its weekly low.
The Federal Reserve’s upcoming policy meeting on February 15, 2026, has investors on edge. Any unexpected announcements about interest rates or monetary policy could really shake things up, especially given how sensitive crypto markets have become to macro factors.
Sarah Thompson, a prominent crypto analyst, thinks the market’s reaction shows just how jumpy traders have gotten about macroeconomic stuff. She said any shifts in global financial conditions could make crypto volatility even worse.
Institutional players are getting cautious too. Grayscale Investments reported on January 30, 2026, that it’s temporarily pausing activity in its Bitcoin Trust fund. The company said it needs to evaluate market conditions, which just adds more uncertainty about where Bitcoin goes from here.
Traders are now eyeing the next big support level around $70,000. That’s basically the line in the sand – if Bitcoin can’t hold above there, things could get really messy.
The sell-off didn’t just hit Bitcoin either. Ethereum, the second-biggest crypto, fell to $4,850, marking a decline of more than 9% in the same 24-hour period. Altcoins like Solana and Cardano got crushed too.
Binance CEO Changpeng Zhao weighed in on Twitter on January 31, 2026, saying the volatility is unsettling but not unprecedented. He told investors to keep long-term perspectives and remember that crypto markets are cyclical. Easy for him to say when he’s not watching his portfolio get destroyed.
Some investors are running to stablecoins for safety. Tether and USD Coin have seen increased trading volumes as traders try to avoid the price swings. That shows just how scared people are getting.
The U.S. Department of Labor releases its latest employment report on February 1, 2026. Market watchers are really focused on this data because it might give clues about what the Federal Reserve does next with interest rates. Any hint of tighter monetary policy could make this market volatility even worse.
Coinbase announced on January 30, 2026, that it’s beefing up its risk management protocols because of all the market chaos. The exchange wants to keep trading stable for users despite the challenging conditions.
The European Central Bank meets on February 3, 2026, to discuss monetary policy amid rising inflation worries. Their decisions could ripple through global markets, including crypto. Investors are particularly watching for any changes to the ECB’s asset purchase program.
Michael Saylor tweeted on January 31, 2026, saying he still believes in Bitcoin as a store of value long-term. His company MicroStrategy holds a ton of Bitcoin, so his words carry weight in the crypto community. But reassuring tweets don’t stop the bleeding when markets are in freefall mode.
Bitcoin remains trapped below $80,000 with $75 billion in daily volume showing the intensity of current selling pressure.
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