Bitcoin price rebounded to $82,893 after dipping to $80,000, its sharpest fall in 2026.
Trump nominated Kevin Warsh as Fed Chair, while reports said the US crypto market bill passed a committee vote.
Altcoins, including Ethereum, Solana, and XRP, dropped over 5%, pulling total crypto market capitalization down 5%.
Crypto prices today, on January 30, suffered from a wave of selling pressure. Bitcoin price fell to $82,893 at press time. The downward momentum has created a broader risk-off mood in the market. Altcoins traded in the red zone. The global crypto market cap dipped 5.11% to $2.82 trillion. Traders are grappling with the leadership change at the US Fed Chair, Crypto Bill news, and other global cues.
Here’s what happened in the crypto market today based on CoinMarketCap data.
Bitcoin price fell 5.79% in the last 24 hours to $82,893.33. In the early hours, Bitcoin was trading at $80,477. One of its sharpest selloffs in 2026, wiping out billions in value from its $1.65 trillion market cap.
CoinSwitch Markets Desk, “BTC slipped below the $85,000 level in an already fragile market environment, where escalating US-Iran tensions and increasing probability of a US government shutdown triggered a broad risk-off response. The break of key support levels activated a classic long-liquidation cascade, as heavily crowded leveraged long positions below price were forcefully unwound in thin liquidity conditions, accelerating the downside move.”
CoinSwitch analysts further explained, “In the near term, BTC is likely to consolidate as weaker leverage has been flushed, reducing immediate downside pressure. However, a decisive break below $82,000 could expose $79,000–$80,000, while sustained upside requires acceptance above $88,500, supported by improving spot demand and ETF flows.”
Ethereum price dropped 6.35% to $2,757.63, with its market cap at $332.83 billion. Trading volume for ETH reached $41.62 billion. The second-largest cryptocurrency by market cap followed Bitcoin's downward move. Earlier reports showed Ethereum trading at $2,736 during peak selling.
Solana price declined 6.11% to $115.08 with a $65.15 billion market cap. XRP price fell 5.75%, going below the $2 support level to $1.76. BNB dropped 5.16% to $850.45, and Dogecoin slipped 5.36%.
Cardano decreased 5.85% to $0.3285. At the same time, TRON showed some resilience, down just 0.62% to $0.2923. The stablecoins Tether (USDT) and USDC traded steadily near their $1 peg, serving as safe havens during the selloff.
Here are the latest developments in the market impacting crypto prices today.
Blockchain News reported that the US crypto market structure bill passed a committee vote by 12-11. Republicans voted in favor while Democrats unanimously opposed the measure. The news was first broken by X account @BullTheoryio in a post which stated:
The bill's advancement to the next legislative stage could bring clearer regulation for the crypto industry. Traders view this as progress toward establishing formal oversight from the SEC and CFTC. It is expected to benefit US-compliant exchanges and highly liquid assets like Bitcoin and Ethereum in the long term.
However, the immediate market reaction was muted as investors waited for official implementation and further legislative steps. Reuters reported that the bill needs at least seven Democrats to back it. Until that happens, it can’t be passed on to US President Donald Trump for Approval. Crypto prices today reflected more concern about near-term headline risk than optimism about eventual regulatory clarity.
Another factor weighing on crypto prices today was news that President Trump nominated Kevin Warsh as the next Federal Reserve Chair. Warsh, a former Fed governor and Stanford professor, accepted the role after discussions with the President.
The potential leadership change at the Fed creates uncertainty around future monetary policy. Markets are watching closely to see if Warsh might shift interest rate policies differently from the current chair, Jerome Powell. Changes in the US Fed policy directly impact risk assets like cryptocurrencies.
The crypto market showed immediate sensitivity to this news, with Bitcoin initially dropping over 6% to around $80,477 before recovering slightly. The announcement adds another layer of macro uncertainty that typically pressures crypto prices.
Crypto prices today weren't the only assets under pressure. Gold futures crashed $300 in just two hours, falling from above $5,200 to around $5,100 per ounce as reported by Cryptopolitan. The speed and size of gold's decline matched volatility levels last seen during the 2008 financial crisis.
This simultaneous selloff in both gold and crypto shows broad-based risk reduction across markets. When traditional safe havens like gold experience forced selling, it typically signals institutional deleveraging that hits cryptocurrencies even harder.
US equity futures also turned negative. S&P 500 futures down 0.3%, Nasdaq 100 futures falling 0.3%, and Dow futures dropping 139 points. The coordinated decline in stocks, gold, and crypto shows investors pulling back from risk everywhere at once.
Ethereum advocate Griff Green announced that unclaimed funds from the infamous 2016 DAO hack will fund a new security initiative. Around $200 million worth of ETH that was never claimed after the hard fork will now support Ethereum network security.
Green explained that while over 80% of the recovered funds were claimed, the remaining balance has grown substantially in value. The funds will be staked, with the revenue supporting security projects through various decentralized distribution methods. This could provide long-term support for Ethereum's value proposition.
Also Read: Bitcoin News Today: BTC Traders Target $93,500 Liquidity Zone After Fed Holds Rates Steady
Crypto prices today reflect a combination of regulatory uncertainty, Federal Reserve leadership changes, and technical selling pressure. When we see Bitcoin and gold sell off simultaneously, it usually indicates that the ‘liquidity tap’ is being questioned. Kevin Warsh’s nomination for Fed Chair is really important.
The next market move will depend upon whether the new nominee turns out to be a dove or a hawk. If Warsh takes a ‘hawkish’ stance, the $80,000 support level for Bitcoin becomes the line in the sand. Watching the DXY (US Dollar Index) and Treasury yields will be as important as watching the charts in the coming days.
Also Read: Crypto News Today: Russia Crypto Law Targets 2027 Roll Out With Retail and Institutional Access
1. Why is Bitcoin falling today?
Bitcoin's dropping today mostly because of a lot of selling and liquidations in the derivatives market. As prices went down, traders using leverage got pushed out, which made selling even worse. Also, uncertainty about who will lead the US Federal Reserve and weakness in the overall market made investors cautious, so they reduced their investments in risky stuff like Bitcoin.
2. Why is the crypto market down today?
The crypto market’s down today because of general uncertainty, liquidations, and a move away from risky investments in markets all over the world. Bitcoin's drop caused losses in other altcoins, and news about changes in Federal Reserve leadership didn't help. Besides that, gold prices are also falling, and US stocks aren't doing well, which shows investors are avoiding risky assets.
3. What's the latest crypto news today?
Today's big crypto news? Prices of Bitcoin and altcoins are way down, with over $770 million liquidated. Also, there's some progress on a US crypto market bill. On top of that, news about Kevin Warsh being nominated as the next Federal Reserve Chair has made the future of interest rates unclear, which put pressure on crypto prices.
4. Did the US crypto bill pass?
The US crypto market bill hasn't completely passed yet, but it did pass a committee vote in Congress. Now the bill moves on to the next step. People think this is good for getting some clear rules, but people are waiting for it to be approved and to get all the details.
5. Will crypto prices go back up after this selloff?
It depends on whether the selling and liquidations slow down. Investors are watching where Bitcoin stops falling, what happens with US stocks and gold, and what the Federal Reserve says. If things calm down and the market settles, crypto prices might go back up. However, if things stay uncertain, markets will probably stay under pressure for a while.
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