On the evening of January 29, 2026, a significant correction occurred in the cryptocurrency market: the price of Bitcoin dropped below the $85,000 mark for the first time in a while. According to TradingView, at the time of writing this news, the leading cryptocurrency is quoted at around $84,500, which indicates a decline of more than 5% over the day.
This is reported by Business • Media
Cryptocurrency Market: Mass Liquidation of Positions
The sharp drop in Bitcoin followed the decision of the U.S. Federal Reserve to keep interest rates unchanged, leading to increased macroeconomic uncertainty. This situation triggered a wave of liquidations in the futures market: over the past day, the volume of forced position closures exceeded $800 million, with most liquidations occurring in long positions. A total of over 212,000 traders were liquidated.
The correction also affected other digital assets. In particular, Ethereum lost over 6.5% of its value but is currently holding above $2,800. As a result of the decline in leading coins, the fear and greed index in the cryptocurrency market dropped to 26 points, indicating a dominance of negative sentiment among investors.
“The fear and greed index in the crypto market stands at 26 points. This indicates a predominance of fears and a desire to liquidate positions.”
Pressure on Traditional Markets and Rising Gold Prices
At the same time, the correction was also noted in global stock markets. Microsoft shares lost over 12% of their value, and the Nasdaq-100 index fell by 2.2%. Investors are seeking safe assets: the price of gold rose to $5,600 per ounce, marking a historical high. Against the backdrop of such increased demand for gold, Bitcoin is noticeably lagging behind the growth rates of precious metals, a point that experts have repeatedly highlighted.
Signs of correction on the Bitcoin chart appeared even the day before, following the announcement of the U.S. Federal Reserve’s decision on interest rates. Amid the overall market sell-off, investors are reducing risk positions and opting for a cautious strategy.