The Bitcoin market has had a rather eventful start to 2026. As of today, January 29, 2026, the price is around $84,000 - $85,000, having fallen from levels close to $90,000 in recent days.
The drop at the end of January is due to a combination of macroeconomic and technical factors:
The Federal Reserve (Fed) and Interest Rates, the Fed decided to keep interest rates unchanged (between 3.5% and 3.75%) and sent a message of caution. This disappointed those who were expecting cuts soon, strengthening the dollar and reducing the appeal of risk assets like BTC.
Competition with Gold: While Bitcoin struggled, gold reached historic highs (surpassing $5,500/oz). Investors seem to be preferring the traditional safe haven of the metal amid geopolitical uncertainty, rather than the "digital gold".
Mass Liquidations: It is estimated that in the last 24 hours, over $800 million in long positions (bets that the price would rise) were liquidated, which accelerated the drop by forcing the sale of assets to cover margins.
Influence of Big Tech: Poor quarterly results in technology companies (like Microsoft) due to high spending on AI dragged down equity markets, and Bitcoin, which remains correlated with the tech sector, suffered the same blow.
