Bitcoin Drops Sharply Amid Heavy Liquidations

The crypto market has just crossed a critical threshold at the beginning of this year. On Thursday, January 29, 2026, bitcoin abruptly fell below $83,000, triggering a wave of sales that wiped out the last hopes for stabilization. Such a drop occurs in an already tense macroeconomic climate, where investors are reducing their exposure to risky assets. More than a simple technical pullback, this movement revives fears of a deeper correction.

Bitcoin plunges below $83,000

The session of January 29, 2026 marked a sharp drop in the crypto market, with bitcoin falling below the $84,000 mark reaching a new annual low.

The factual elements converge on several key points :

• A wipeout of the early year rebound : bitcoin’s strong start was completely erased, its price falling to a new annual low below $83,000 ;
• A dominance of sales on derivative markets : sales volumes of several billion dollars were executed in a very short time, signaling rapid liquidations of long positions ;
• A movement synchronized with other risky assets : the decline occurred while stocks, especially related to AI, fell, and some investors took profits on gold.

These data indicate that the drop is not the result of a progressive withdrawal by spot investors but of a sudden unwinding of leveraged positions, which mechanically amplifies the speed and scale of the movement.

The simultaneity with the correction in stocks and profit-taking on gold shows that bitcoin behaved like a risky asset in this specific context, rather than as a safe haven. This configuration explains why the selling pressure was particularly intense on crypto compared to other market segments.

Market reactions and future implications

While market tension is high, analysts no longer rule out a deeper extension of this correction, with target levels significantly lower than those observed this week.

Several expert comments converge on the possibility that bitcoin could slide towards about $70,000 if current supports break, which would represent a pullback of about 40% from last October’s all-time highs.

The movement could ultimately lead BTC towards $71,000, a 43% loss compared to the $126,000 level reached in early October. Some market strategists highlight that the current momentum could prolong the corrective phase.

This scenario is not unanimous, but it illustrates the degree of uncertainty surrounding short-term forecasts of bitcoin price. Other observers point out that the pronounced price drop aligns with increased correlation between bitcoin and traditional risky assets, questioning its role as a safe haven during periods of financial stress.