HOT MOMENTS: Bitcoin Price Falls Below $80,000 for the First Time Since April – Here’s the Latest Situation, Reason for the Drop, and Data

2026/02/01 01:22

2 min read

As selling pressure deepens in the cryptocurrency market, the price of Bitcoin has fallen below $80,000 for the first time since April 2025.

BTC fell by more than 4% during the day, dropping to $79,294. At the time of writing, the BTC price is trading around the $79,000 mark.

Bitcoin’s weekly loss exceeded 11%. Its total market capitalization fell to $1.58 trillion.

The price drop triggered sharp liquidations in the futures market. A total of $1.59 billion in positions were liquidated in the last 24 hours, with $1.47 billion of that being long positions. The fact that over $1 billion in liquidations occurred in just the last four hours highlights the speed and severity of the decline.

This table shows the extent of liquidations in the market over the last hour.

Related News: Will Bitcoin Price Reach $100,000 Again This Year? Here Are the Latest Odds

The pullback in Bitcoin led to sharp losses in the altcoin market as well. Ethereum fell to $2,433, losing more than 10% in the last 24 hours, while Solana dropped over 10% to $103. XRP, Dogecoin, and Cardano also experienced losses approaching double digits. BNB fell by over 7% to $786. The total market value decreased by approximately 4.7% in the last 24 hours.

The sell-off wasn’t limited to major cryptocurrencies. PAX Gold (PAXG), known as tokenized gold, fell 1.65% to $4,875, while Tesla (TSLAX), a tokenized stock product, also lost over 2% of its value. This indicates that the risk-aversion trend has spread throughout the crypto ecosystem.

According to current data, Bitcoin’s price needs to rise to approximately $1.69 million to reach the market capitalization of gold.

The reasons cited for the decline include Donald Trump nominating Kevin Warsh, considered a hawk, as his candidate for Fed Chairman, the market expecting fewer interest rate cuts than before, and geopolitical tensions.

*This is not investment advice.

Continue Reading: HOT MOMENTS: Bitcoin Price Falls Below $80,000 for the First Time Since April – Here’s the Latest Situation, Reason for the Drop, and Data

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Tags:

#Futures #Liquidation