Bitcoin tumbles by whooping 5.9% – Will it drop to $75,000?

2026-01-30 - 05:56

NEW YORK – Bitcoin, leading cryptocurrency, has recorded a whooping decline of 5.9 percent or $5198 in the last 24 hours to drop to $82,888.74, according to Binance. At the time of reporting, the live price of Bitcoin stands at $82,888.74 per (BTC / USD) with a current market cap of $1,656.30 billion while 24-hour trading volume has been recorded at $76.50 billion. The development comes amid fears that the US Federal Reserve is likely to tighten up on cash in the financial system, hitting cryptocurrencies. Meanwhile, Ethereum saw a dip of 6.79 percent or $200 to drop to $2,745.95 per (ETH / USD) with a current market cap of $331.42B USD. 24-hour trading volume is $42.23B USD. Amid the bearish trend, some experts fear that the Bitcoin may drop to $75,000 if the US Federal Reserve implement strict measures on money supply. On the other hand, gold attracted investors from across the globe as price touched historic highs near $5,600 per ounce. But that rally came to a sudden halt, as bullion witnessed sharpest one-day crash in years, coming down over 8% and wiping out nearly $3.4 trillion in global market value. The sudden downturn was triggered by a liquidity scramble in the wake of steep losses in American tech sector, forcing investors to sell even their “safe-haven” gold holdings. The unprecedented shake-up comes as the global gold market plunged dramatically on Thursday, January 29, erasing nearly $3.4 trillion in market value in a single day. The metal had recently crossed the $5,000 mark for the first time, nearly doubling in value over the past year. Silver wasn’t spared either, falling 1.6%, while Bitcoin plunged over 5%, dipping below $85,000. Investors had flocked to these assets seeking safety amid a volatile global backdrop of an expensive U.S. stock market, political uncertainty, trade threats, and soaring government debt—but the surge proved unsustainable. The sell-off was triggered not by fundamentals but by a liquidity crunch. A tech-sector meltdown, led by a nearly 12% crash in Microsoft, forced institutional investors to liquidate gold holdings to cover losses and margin calls. What was once the “safe-haven” asset suddenly became a source of urgent cash, accelerating the freefall.