#Bitcoin BTC Price News & Insights Today 31-1-2026 - Elliott Wave and technical analysis of #BTC, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin (BTC) is trading at approximately $82,927 as of January 31, 2026. The market is currently experiencing a period of high volatility and renewed downward pressure, with the price having dropped roughly 7% over the past week and nearly 34% below its all-time high of $126,210 reached in October 2025.
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Bitcoin Insights Today
-Price Action: BTC dropped below the $83,000 support level today before recovering slightly to hover near $84,000. This follows a broader "buy-the-dip" sentiment as investors reassess risk amid recent market turbulence.
-Macro Pressures: The market is reacting to significant leadership shifts at the U.S. Federal Reserve (nomination of Kevin Warsh), a partial U.S. government shutdown, and the closure of Metropolitan Capital Bank & Trust, the first bank failure of 2026.
-Institutional Shift: While Bitcoin's "digital gold" narrative has faced recent challenges as traders pivot to physical gold and silver, major institutions like Wells Fargo, Morgan Stanley, and BlackRock (via its $70B IBIT ETF) continue to be primary drivers of the market.
-Predictions: Analysts remain split for 2026. While some industry figures like CZ see $200,000 as an "inevitable" target, standard institutional forecasts currently cluster between $120,000 and $170,000.
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