#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 $78,291 as of January 31, 2026, following a sharp 6-7% plunge over the last 24 hours. The cryptocurrency dropped below the critical $80,000 psychological support level for the first time in months, hitting lows near $78,160 during early afternoon trading in New York.
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Bitcoin Insights Today
-Macroeconomic Shift: Market sentiment soured following the selection of former Federal Reserve Governor Kevin Warsh as the next Fed chair, whom investors perceive as a "hardliner" likely to maintain higher interest rates for longer.
-Geopolitical Tensions: Reports of an explosion at Iran's Bandar Abbas port and a brief U.S. government shutdown triggered a "risk-off" environment, driving investors away from volatile assets.
-Regulatory Actions: On January 30, 2026, the U.S. Treasury's OFAC designated two UK-based crypto exchanges for the first time for processing transactions for the IRGC, heightening regulatory fears.
-Liquidation Wave: The price break below key levels triggered over $1 billion in liquidations of bullish "long" positions within a 24-hour period, accelerating the downward spiral.
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