Bitcoin, the world's leading cryptocurrency, experienced a significant downturn on Thursday, January 29, 2026, dropping over 5% to reach a new low of $84,410. This decline marks the token's lowest level since early December, reflecting a broader market sell-off that has impacted digital assets.
Sharp Decline in Bitcoin Prices
According to data from CoinMarketCap, Bitcoin prices fell by 5.43% to $84,409.77 at 9:41 PM on Thursday. This drop represents a notable retreat from recent highs, as the cryptocurrency market faces increased volatility and selling pressure. The decline underscores the ongoing challenges in the crypto space, where prices can fluctuate rapidly based on market sentiment and external factors.
Market Capitalisation and Trading Volume
Despite the price drop, Bitcoin's market capitalisation remains substantial at $1.68 trillion, highlighting its dominant position in the cryptocurrency ecosystem. In the past 24 hours, the trading volume for Bitcoin was reported at $50.59 billion, indicating high liquidity and active participation from traders and investors. This volume suggests that while prices are falling, there is still significant interest and movement in the market.
Context of the Sell-Off
The sell-off that led to Bitcoin's decline is part of a wider trend affecting various cryptocurrencies. Market analysts point to factors such as regulatory concerns, macroeconomic conditions, and profit-taking by investors as potential drivers behind the downturn. Bitcoin's drop to its lowest since December serves as a reminder of the inherent risks and volatility associated with digital currencies.
As the situation evolves, stakeholders in the crypto market are closely monitoring price movements and market dynamics. The current data provides a snapshot of Bitcoin's performance, but further developments could influence future trends. For real-time updates and more detailed analysis, following reliable financial news sources is recommended.
