The Currency analytics
By Evie Vavasseur
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…
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.
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.
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.
But here's something interesting that's getting overlooked. On-chain data shows a spike in new Bitcoin addresses over the past 24 hours.
The crypto market got hit harder than traditional assets, but Bitcoin actually held up better than gold, which suffered an even steeper fall.
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.
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 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…
Sarah Thompson, a prominent crypto analyst, thinks the market's reaction shows just how jumpy traders have gotten about macroeconomic stuff.
Institutional players are getting cautious too. Grayscale Investments reported on January 30, 2026, that it's temporarily pausing activity in its Bitcoin Trust fund.
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.
Binance CEO Changpeng Zhao weighed in on Twitter on January 31, 2026, saying the volatility is unsettling but not unprecedented.