Bitcoin drops below $80,000 followed by other cryptocurrencies
Photo: Ethereum and Solana lead crypto losses (Getty Images)
On January 31, Bitcoin plunged sharply, falling below $80,000 and hitting its lowest levels since April 2025, Bloomberg reports.
According to media reports, the decline occurred amid low liquidity and limited buying interest, which intensified the selloff and caused the world's largest cryptocurrency to lose more than 30% of its value.
By midday Saturday, Bitcoin had dropped 7.1% to $78,159.41. Other tokens saw even steeper losses: Ethereum, the second-largest digital asset, fell more than 10%, while Solana dropped over 11%.
The collapse is also reflected on the Binance exchange, confirming the downward trend for BTC.
"The selloff knocked about $111 billion off the crypto market's total value in the past 24 hours, according to CoinGecko data," Bloomberg reports.
Analytics firm Coinglass added that during the same period, roughly $1.6 billion in short and long positions were liquidated, most of it occurring in the last four hours, primarily affecting Bitcoin and Ethereum.
Cryptocurrency and broader market
Just a few weeks ago, on January 14, Bitcoin's price surged for the first time since November 2025, climbing above $95,000 per coin.
At the same time, prices for gold, silver, and copper were also rising. However, on January 30, they all fell.
Reuters attributed the decline to investors taking profits as hopes for aggressive US interest rate cuts faded and the dollar stabilized.
