Bitcoin Struggles to Hold $83 K as Risk‑On Sentiment Erodes
All major cryptocurrencies extend recent losses while the total crypto market cap hovers near $2.9 trillion.
Market snapshot (Jan 30, 2026)
| Asset | Price change (24 h) | Weekly change |
|---|---|---|
| Bitcoin (BTC) | –3 % → ≈ $83,200 (touched $81,300 intraday) | –6.5 % |
| Ethereum (ETH) | –3 % → ≈ $2,740 | –6 % |
| XRP | – | –7 % |
| Solana (SOL) | – | –8 % |
| Total market cap | – | ≈ $2.9 trillion |
The top‑ten tokens by market value are all in the red, with XRP and SOL posting the steepest weekly declines. The broader market is caught in a choppy range after a series of sharp tech earnings reports and volatile moves in gold and silver that sparked a multi‑trillion‑dollar risk‑off wave across global markets.
What’s driving the sell‑off?
- Macro‑uncertainty – Renewed concerns over U.S. economic data and the upcoming Federal Reserve leadership transition have revived risk‑averse behaviour.
- Technical earnings pressure – Recent earnings releases from major tech firms have prompted investors to trim exposure to higher‑volatility assets.
- Precious‑metal turbulence – Rapid swings in gold and silver prices have amplified the broader “flight to safety” sentiment, pulling capital away from crypto.
On‑chain dynamics add to the pressure
Glassnode analysts highlighted that long‑term Bitcoin holders continue to move coins into the market during weakness. Over the past month, they have been distributing an average of 12,000 BTC per day—roughly 370,000 BTC per month—which adds a steady stream of supply to the order books. Miner activity mirrors this trend, with regular BTC transfers to exchanges further increasing sell‑side pressure.
Sentiment metrics
The Crypto Fear & Greed Index, a widely‑cited barometer of market mood, slipped into the “extreme fear” zone on Friday, underscoring heightened caution among traders.
Liquidations and ETF flows
- $1.8 billion in crypto positions were liquidated in the last 24 hours, according to CoinGlass data. Long positions dominated the wipe‑out, accounting for about $1.68 billion of that total.
- Bitcoin led the liquidation tally with roughly $793 million cleared, followed by Ethereum at $425 million. Silver perpetual futures on the TradeXYZ platform were the third biggest loser, with $96 million liquidated.
- Spot Bitcoin ETFs saw net outflows of $818 million, shrinking total assets under management to $107.6 billion. Spot Ethereum ETFs recorded $156 million in outflows, bringing their net assets down to $16.7 billion.
Federal Reserve leadership news
President Donald Trump announced the nomination of former Fed governor Kevin Warsh as the next chair of the Federal Reserve, ending weeks of speculation about the central bank’s direction. Market‑maker Paul Howard (Wincent) described the immediate market reaction as a knee‑jerk risk‑off move, noting that the nomination itself does not yet signal a fundamental shift in monetary policy expectations. He added that, over a longer horizon, a Warsh‑led Fed could accelerate structural changes in macro‑policy implementation—especially if the administration continues to pursue a more crypto‑friendly regulatory stance.
Key takeaways
- Bitcoin’s support at $83 K is fragile; a breach could accelerate the current downtrend, especially as on‑chain supply pressure persists.
- Long‑term holders and miners are actively feeding the market, increasing the odds of further price depreciation in the short term.
- Risk sentiment remains subdued, reflected in extreme‑fear readings and sizable outflows from both spot crypto ETFs and leveraged positions.
- Liquidity events are material: nearly $800 million in BTC liquidations and $1.8 billion total crypto liquidations underline the heightened volatility.
- Macro developments, particularly the Fed chair nomination, are likely to influence sentiment more through perception than through immediate policy changes.
Traders and investors should monitor Bitcoin’s price action around the $83 K level, keep an eye on on‑chain distribution metrics, and stay attuned to macro news that could sway risk appetite in the days ahead.
Source: https://thedefiant.io/news/markets/market-sell-off-deepends-jan-30-2026
