Bitcoin pulls back to as low as $81,000 as horrendous day continues
The world’s largest cryptocurrency has shed nearly $10,000 over the past 24 hours, now threatening to take out its recent November low just under $81,000.
Jan 30, 2026, 2:12 a.m.
What to know:
- Bitcoin (BTC) continued to quickly decline in the U.S. evening hours on Thursday, the price falling all the way to $81,000.
- More than $777 million in leveraged crypto long positions were liquidated in the space of one hour.
- Comments from President Trump caused a surge in Polymarket betting odds on Kevin Warsh becoming the next Fed chair, perhaps disappointing some traders who hoped the more dovish Rick Rieder would be selected.
Bitcoin’s BTC$88,336.23 price continued to pull back in late Thursday evening U.S. hours, tumbling to as low as $81,000 before bouncing to the current $82,000.
The world’s largest cryptocurrency has now lost nearly $10,000 over the past 24 hours of trading. More than $777 million in crypto longs were liquidated over the past hour, with that sum rising to $1.75 billion over the past 24 hours, according to CoinGlass.
The broader cryptocurrency market likewise saw prices tank by 7% to 9% over the past 24 hours, with ether ETH$2,961.90 hovering around $2,700, BNB BNB$903.61 around $843, and XRP XRP$1.8885 around $1.74.
Read more: Bitcoin holds $84,000 — for now — but analysts warn of drop to $70,000 if support fails
A CoinDesk analysis suggested that bitcoin’s price falling below $85,000 would suggest a further collapse.
At current levels, bitcoin is barely hanging on above its November low, just under $81,000. Beyond that, the next level of support could be the tariff-related April 2025 low of $75,000.
Traders may be reacting to reports that U.S. President Donald Trump will nominate former Federal Reserve Board member Kevin Warsh to replace current Fed Chair Jerome Powell. Trump said late Thursday he would name his nominee on Friday morning, a day after lambasting Powell and the Fed for not choosing to reduce rates.
Polymarket odds on Warsh being the nominee have soared to 87% versus just 37% two hours ago. Prior to the surge in odds for Warsh, BlackRock fixed-income chief Rick Rieder — thought by some to be a more dovish selection — was considered to maybe have the inside track to the nomination.
Warsh was at the White House on Thursday, CNBC reported.
More For You
Pudgy Penguins: A New Blueprint for Tokenized Culture
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Circle’s biggest bear just threw in the towel, but warns the stock is still a crypto roller coaster
Circle’s rising correlation with ether and DeFi exposure drives the re-rating, despite valuation and competition concerns.
What to know:
- Compass Point’s Ed Engel upgraded Circle (CRCL) to Neutral from Sell and cut his price target to $60, arguing the stock now trades more as a proxy for crypto markets than as a standalone fintech.
- Engel notes that CRCL’s performance is increasingly tied to the ether and broader crypto cycles, with more than 75% of USDC supply used in DeFi or on exchanges, and the stock is still trading at a rich premium.
- Potential catalysts such as the CLARITY Act and tokenization of U.S. assets could support USDC growth, but Circle faces mounting competition from new stablecoins and bank-issued “deposit coins,” and its revenue may remain closely linked to speculative crypto activity for years.
