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
BTC Price Today: Bitcoin Stabilizes Near $70K as Oscillators Flash Neutral Signals
As of March 12, 2026, bitcoin traded around $70,523 per unit, with a market capitalization of roughly $1.41 trillion and 24-hour trading volume near $47.04 billion. The session’s price range stretched from $69,034 to $71,230, leaving the market hovering near the middle of that band while technical i
Coinpedia9m ago
What will end the crypto bear market in 2026?
With Bitcoin's price having declined more than 40% from its all-time high in October last year, within just 5 months, and the total cryptocurrency market capitalization losing nearly 2 trillion USD, there is no doubt that we are going through a bear market phase. However, the big question remains: When will the recovery happen?
TapChiBitcoin9m ago
Victims in the Qian Zhimin Case File Objection with UK High Court Over 61,000 BTC Compensation Plan
In the Qian Zhimin case, Chinese victims have objected to a compensation plan proposed in the UK High Court, arguing that the plan could allow UK authorities to profit from the appreciation of seized Bitcoin. The case involves fraud from 2014 to 2017 that affected over 128,000 Chinese investors, with legal representatives claiming the compensation arrangement may be unfair.
GateNews32m ago
Arthur Hayes Reveals Bitcoin Price Prediction for 2026, But There's a Catch
March 12, 2026 3:50 am EDT
TheCoinRepublic32m ago
Bitcoin Maintains Resilience Near $70,000, Analysts Say Deleveraging Paves Way for Next Rally
On March 12, analyst Omkar Godbole noted that Bloomberg predicted Bitcoin could fall to $10,000, but the industry considered this forecast unreasonable. The Deribit platform showed that approximately $800 million in put options are concentrated at $20,000, with some traders preparing for a possible crash. Despite external market volatility, Bitcoin remained around $70,000, demonstrating resilience. Analysis indicated that market consolidation could lay the foundation for subsequent price movements.
GateNews42m ago
