#Bitcoin BTC Price News & Insights Today 31-1-2026 - Elliott Wave and technical analysis of #BTC, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin (BTC) is trading at approximately $83,876.95 (USDT) as of January 31, 2026. The market is currently experiencing significant bearish pressure, with the price having dropped nearly $10,000 over the past 24 hours, hitting fresh 2026 lows. This downturn has triggered roughly $1.75 billion in total crypto liquidations.
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Bitcoin Insights Today
-Technical Breakdown: Bitcoin recently formed a "Death Cross" on the daily chart, a bearish technical signal where the 50-day moving average crosses below the 200-day moving average, intensifying selling pressure.
-Whale Activity: Data indicates some large-scale traders are beginning to reduce short positions, potentially signaling that a local bottom is near as they reap profits from the recent plunge.
-Institutional Inflows: Despite the price drop, institutional adoption remains a core pillar; Bitcoin spot ETFs have accumulated over $50 billion in total inflows since their inception, providing a structural demand base.
-Macro Environment: Market participants are closely watching a potential U.S. Federal Reserve shakeup, with reports suggesting Kevin Warsh may be nominated to replace Jerome Powell as Fed Chair in May 2026.
Recent News & Developments
-Global Reserves: El Salvador's central bank recently announced further additions to its Bitcoin reserves in January 2026.
-US Politics: The U.S. "Clarity Act," aimed at creating a federal framework for digital assets, is a major legislative focus for investors this year.
-Market Sentiment: The Fear & Greed Index has plunged into the "Extreme Fear" zone (24–27), historically a level that has preceded market rebounds.
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