Bitcoin dropped 6.4% to $83,383 on January 29, 2026, due to five consecutive days of ETF outflows totaling $1.137 billion, capital rotation into surging precious metals (gold $5,600, silver $120), US rare earth tariff announcements spiking volatility above 40, and bearish options market positioning with 97% of calls out-of-the-money.

What is the Bitcoin price now?

Bitcoin is trading at $84,233-84,623 as of Thursday, January 29, 2026, after hitting an intraday low of $83,383, the lowest level since November, representing a 33% decline from October's $126,000 peak.

Why is crypto crashing today?

The broader crypto market is down due to institutional repositioning (concentrated exits from three major ETFs representing 92% of outflows), Fed maintaining rates at 3.50%-3.75% without dovish guidance, geopolitical tensions, and capital flowing into precious metals which are significantly outperforming cryptocurrencies.

Will Bitcoin fall to $70,000?