{"id":50191,"date":"2026-01-29T10:43:18","date_gmt":"2026-01-29T15:43:18","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=50191"},"modified":"2026-01-29T10:45:18","modified_gmt":"2026-01-29T15:45:18","slug":"bitcoin-price-crashes-5-to-85k","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-crashes-5-to-85k","title":{"rendered":"Bitcoin Price Crashes 6% to $84,000 As Market Braces for Next Catalyst\u00a0"},"content":{"rendered":"
<\/div>\n

Bitcoin price fell sharply<\/a> this morning, sliding to lows in the $84,000 range and extending a swift reversal from recent 24-hour highs above $90,000, as macro uncertainty and fragile market structure reasserted control.<\/p>\n\n\n\n

The bitcoin price dropped to as low as $84,416, down roughly 6% over the past 24 hours if accounting for daily highs, according to Bitcoin Magazine Pro data. <\/p>\n\n\n\n

The move came less than a day after bitcoin traded as high as $90,400, marking a rapid round-trip that underscored heightened volatility around this week\u2019s Federal Reserve meeting.<\/p>\n\n\n\n

Daily trading volume climbed to roughly $48 billion as the selloff accelerated, suggesting forced liquidations and short-term positioning unwind. Bitcoin\u2019s total market capitalization fell to about $1.72 trillion, down approximately 4% on the day.<\/p>\n\n\n\n

With unemployment at 4.4%, Powell emphasized<\/a> labor market resilience and refrained from signaling urgency around easing policy \u2014 an outcome that proved unfriendly for speculative assets. <\/p>\n\n\n\n

For crypto markets that had rallied into the decision, the meeting quickly turned into a \u201csell the news\u201d event.<\/p>\n\n\n\n

Bitcoin price needs to hold $84,000<\/h2>\n\n\n\n

The reversal also came as bitcoin struggled to reclaim key technical levels. After briefly clearing $90,000, the bitcoin price failed to hold above resistance near $91,000, triggering renewed selling pressure. <\/p>\n\n\n\n

Analysts have flagged<\/a> the $88,000 level as an important pivot for near-term stabilization, with $84,000 now emerging as critical downside support.<\/p>\n\n\n\n

A sustained break below that level could expose deeper retracements toward the $72,000\u2013$68,000 zone, according<\/a> to Bitcoin Magazine analysts.<\/p>\n\n\n\n

Bulls are expected to defend the $84,000 area aggressively to avoid a broader technical breakdown.<\/p>\n\n\n\n

Meanwhile, Gold surged to new all-time highs above $5,550 per ounce this week, highlighting continued demand for hard assets amid currency uncertainty. Bitcoin initially appeared to benefit from similar tailwinds but failed to sustain momentum.<\/p>\n\n\n\n

Next week, the White House will host<\/a> banking and crypto executives on February 2 to discuss reviving stalled U.S. crypto legislation. <\/p>\n\n\n\n

The meeting<\/a>, organized by the administration\u2019s crypto council, will focus on contentious issues \u2014 especially how proposed rules would treat interest and rewards paid on dollar-pegged stablecoins \u2014 as the Trump administration seeks to broker a compromise after talks broke down.<\/p>\n\n\n\n

At the time of writing, Bitcoin price is trading at $84,437, with a 24-hour trading volume of $48 billion. <\/p>\n\n\n\n

The cryptocurrency is down 4% over the past 24 hours and is trading 6% below its seven-day high of $90,316. Bitcoin price is sitting at its seven-day low, down roughly 0% from the $85,417 level.<\/p>\n\n\n\n

\"bitcoin<\/figure>\n","protected":false},"excerpt":{"rendered":"

The bitcoin price erased a rally above $90,000 in less than 24 hours as it dumped to $84,000.<\/p>\n","protected":false},"author":3817,"featured_media":50193,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[76,246,345,628],"class_list":{"0":"post-50191","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bitcoin","9":"tag-fed","10":"tag-price","11":"tag-white-house"},"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/01\/Bitcoin-Price-Crashes-5-to-85000-As-Market-Waits-for-Next-Catalyst-.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/50191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=50191"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/50191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/50193"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=50191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=50191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=50191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}