According to news on January 30, the price of Bitcoin continued to fall during Thursday’s U.S. stock trading session, falling to a low of $81,000 at one point, and then rebounding to around $82,000. Bitcoin has fallen by nearly $10,000 in the past 24 hours, and the global cryptocurrency market is also under pressure, with Ethereum hovering around $2,700, BNB around $843, and XRP around $1.74.
CoinGlass data shows that more than $777 million in cryptocurrency long positions have been liquidated in the past hour, and the cumulative liquidation amount in 24 hours has reached $1.75 billion. This shows that the selling pressure in the market is still significant. Analysts point out that Bitcoin’s break below $85,000 could signal further downward pressure, with the November low currently held at $81,000 being a key support and potential support further down likely to be around $75,000.
The recent market decline is closely related to macro events. U.S. President Donald Trump announced that he would nominate former Federal Reserve member Kevin Wash to replace current Chairman Jerome Powell, raising high concerns about the market’s monetary policy prospects. Polymarket data shows that the probability of Walsh becoming Fed chairman soared to 87% in a short period of time, compared to only 37% previously. Prior to the announcement, BlackRock’s head of fixed income, Rick Riedel, had been considered more likely to be nominated and took a more dovish stance.
Market analysts believe that Walsh’s nomination may mean that monetary policy is becoming looser, which is both positive and uncertain for risk assets. Investor sentiment is intertwined between cryptocurrencies and traditional markets, leading to wild fluctuations in Bitcoin and major digital assets.
Overall, Bitcoin still faces downside risks in the short term, but there is still a chance to rebound above key support levels. Traders are closely monitoring U.S. policy movements and the impact of potential interest rate changes on the digital currency market, particularly the price fluctuations of Bitcoin and Ethereum.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Hit a Major Milestone—Most Miners Won't Be Around for the Next One
In brief
The Bitcoin network mined its 20 millionth coin this week, leaving just 1 million remaining—a supply that could take 115 years to fully unlock.
Analysts expect many publicly traded Bitcoin miners to exit the business entirely by 2027 and 2028, liquidating Bitcoin holdings to fund
Decrypt12m ago
Bitcoin Price Move Could Trigger $1 Billion Crypto Short Liquidation
Bitcoin once again approaches a major turning point as traders monitor a massive liquidation zone. Market data shows that more than one billion dollars in leveraged short trades sit dangerously close to forced closure levels. A price increase of roughly three thousand dollars could wipe out these tr
Coinfomania16m ago
Bitcoin Spot ETF Cumulative Inflows Eye $100B Milestone Despite 2026 Price Consolidation
The crypto markets have had a tremendous shift in the overall market since the launch of Bitcoin Spot ETFs. Bitcoin has shifted from being a niche speculative instrument into being more incorporated into the traditional financial (TradFi) space. Daan Crypto Trades, a well-known market analyst,
BlockChainReporter19m ago
Kaspa (KAS) Leads Bitcoin, Monero, and Others as Favorite Proof Of Work Crypto
A new on chain poll has started to attract attention across the Proof of Work crypto community. The vote asks a simple question. Which Proof of Work cryptocurrency stands out as the favorite among participants today? Early results show Kaspa (KAS) taking the lead over several well known names s
CaptainAltcoin22m ago
Ark Invest Warns Quantum Computing Could Threaten Bitcoin
The essay discusses the vulnerability of Bitcoin’s security model to quantum computing threats and the potential exploitation of private keys. It highlights the industry's research into Post-Quantum Cryptography, including proposals like BIP-360, aimed at enhancing Bitcoin's resilience against future attacks, while emphasizing the importance of careful implementation and community consensus.
Coinfomania26m ago
Bitcoin MVRV Z-Score Drops Below 1 Again
The MVRV Z-Score is a key on-chain indicator for assessing Bitcoin's value by comparing market and realized capitalizations. Historical data shows that when the score drops below 1, it often signals significant market recovery. However, changing market dynamics and institutional influences may alter future patterns.
Coinfomania26m ago
