Bitcoin price today slides under $80,000 as risk appetite thins into the weekend

Bitcoin price today is sharply lower, extending a late-January slide that has pulled the market back into a zone traders have been watching for weeks. As of Saturday, January 31, 2026 (ET), bitcoin was trading around $77,395, down about 8.2% on the day after swinging between roughly $84,326 and $76,686. Ether fell even harder, hovering near $2,388, off about 11.7% over the same window.

The timing matters: weekend liquidity is typically thinner, which can exaggerate moves once a selloff gathers momentum. But the forces behind this drop go beyond a single low-volume flush—today’s action reflects a broader re-pricing of macro risk, positioning, and confidence in the “bitcoin as a defensive asset” story.

Why bitcoin is falling today

A few overlapping themes are driving the weakness:

Rates and the dollar are back in the driver’s seat. Markets have been recalibrating expectations for U.S. monetary policy, and any shift toward “higher for longer” tends to pressure speculative assets first. Crypto has traded more like a high-beta risk asset than a pure hedge for long stretches, and today’s tape fits that pattern.

Leadership uncertainty at the Federal Reserve is feeding volatility. Fresh attention around Kevin Warsh—and what a change at the top could signal—has added another layer of macro sensitivity. Whether traders interpret that as tighter policy risk or simply more uncertainty, the near-term result is the same: less willingness to pay up for risk.

ETF flows and positioning appear to be working against price. After periods where demand from U.S.-listed spot products helped stabilize dips, recent outflows have been a headwind. When incremental buyers step back, bitcoin can feel “air pockets” quickly—especially if leveraged positions are forced to unwind.

Geopolitical headlines and “risk-off” rotation are pulling attention toward traditional havens. The last few sessions have seen a noticeable divergence between bitcoin and assets that typically benefit from fear-driven flows. When that divergence widens, it often changes trader behavior: dips get sold faster, rallies get faded sooner.

What the intraday range says about sentiment

The day’s wide range—roughly $76.7K to $84.3K—isn’t just noise. It suggests two things happening at once:

1. Buyers are still present, but they’re demanding lower prices and quicker confirmation.

2. Sellers are more urgent, willing to hit bids rather than wait for a better bounce.

That combination is common in corrective phases: sharp rebounds inside a down day, followed by renewed selling once the bounce stalls.

Levels traders are watching after the $80K break

Round numbers matter in crypto because they influence behavior, not because they’re magical. With bitcoin trading below $80,000, the market tends to treat that level as a psychological “line in the sand” until price proves otherwise.

Here are the zones getting the most attention now:

• $80,000: The obvious reclaim level. Sustained trading back above it would help calm the tape.

• Mid-$70,000s: A nearby area where buyers may try to defend the move from turning into a deeper slide.

• $85,000 area: A rough “damage repair” zone—if bitcoin can’t regain it on rebounds, sentiment often stays fragile.

None of these levels guarantee anything, but they’re useful for understanding how traders will interpret the next push up or down.

Why ether is dropping more than bitcoin

Ether’s larger percentage decline is consistent with how markets behave during stress. When risk appetite fades, investors often sell “second-tier” exposures harder—especially those tied to broader altcoin activity, leverage, and ecosystem narratives. Ether can still lead in strong markets, but during sharp drawdowns it frequently absorbs more forced selling.

Today’s action also reinforces a familiar pattern: bitcoin acts as the sector’s “core” risk, while ether and other majors amplify the move.

What happens next: catalysts that could decide the direction

The next move likely depends on whether macro conditions keep tightening financial conditions—or whether risk appetite stabilizes. A few near-term catalysts to watch:

• Upcoming U.S. economic data (jobs, inflation indicators): Surprises can quickly shift rate expectations.

• Dollar strength: A rising dollar often tightens pressure on global risk assets, crypto included.

• ETF flow trends: Stabilizing flows can support a base; accelerating outflows can keep rallies capped.

For now, the simplest read is this: bitcoin price today is being driven less by crypto-specific optimism and more by the same crosswinds hitting broader risk markets. If those crosswinds ease, a rebound is plausible. If they intensify, the market may need time—and lower prices—to find steadier footing.