{"id":21044,"date":"2026-01-31T15:15:43","date_gmt":"2026-01-31T15:15:43","guid":{"rendered":"https:\/\/bitunikey.com\/news\/heres-why-bitcoin-price-is-crashing-today-jan-31\/"},"modified":"2026-01-31T15:15:49","modified_gmt":"2026-01-31T15:15:49","slug":"heres-why-bitcoin-price-is-crashing-today-jan-31","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/heres-why-bitcoin-price-is-crashing-today-jan-31\/","title":{"rendered":"Here\u2019s why Bitcoin price is crashing today (Jan. 31)"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin price continued its strong downward trend as ETF outflows accelerated, geopolitical risks rose, and the government shutdown continued.<\/p>\n<div id=\"cn-block-summary-block_5bbb0070f6329a82872cdbf21fa466b9\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin price continued its strong downward trend on Saturday.<\/li>\n<li>The crash happened after Donald Trump nominated Kevin Warsh to be the next Fed Chair.<\/li>\n<li>It also dropped due to geopolitical risks, and the government shutdown started.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin (BTC) dropped below the key support level at $81,000 and hit its lowest level since October last year. It has moved into a bear market by falling by 35% from its highest point in 2025.<\/p>\n<p>BTC dropped as third-party data shows that ETF outflows continued. It shed over $509 million in assets last Friday, after losing $817 million on Thursday. They have shed assets in the last four consecutive days, bringing the monthly outflow to over $1 billion. It was the third consecutive month of outflows.<\/p>\n<p>Bitcoin price also slumped after President Donald Trump nominated Kevin Warsh to become the next Federal Reserve Chairman. Warsh is widely seen as a hawk who has criticized the Federal Reserve for cutting interest rates. Therefore, there is a likelihood that he will embrace a more hawkish view at the Fed.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Meanwhile, there is a possibility that Trump will attack Iran. According to the WSJ, Trump is considering a kinetic attack that will avoid a prolonged war in the country.\u00a0<\/p>\n<p>On the other hand, Iran has warned that it may hit Israel, US installations in the region, and shut the Strait of Hormuz, a move that will disrupt the energy market.\u00a0<\/p>\n<p>Bitcoin has constantly proven that it is not a safe-haven asset. Instead, investors have embraced other assets like gold and the Swiss franc as risks have continued rising. Bitcoin also slipped as the US government moved to a shutdown.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily timeframe chart shows that the BTC price has crashed and erased all the gains it made earlier this year. It has now slipped below the psychological point at $85,000 and the key point at $83,885, its lowest level in December last year.<\/p>\n<p>Bitcoin price has crashed below the 50-day and 100-day moving averages and the Supertrend indicator. It dropped below the Ultimate Support of the Murrey Math Lines tool.<\/p>\n<p>The Average Directional Index has continued rising, a sign that the momentum is continuing. Therefore, the most likely BTC price forecast is bearish, with the next key target being at $80,000. A drop below that level will point to more downside to last year\u2019s low of $74,000.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price continued its strong downward trend as ETF outflows accelerated, geopolitical risks rose, and the government shutdown continued. Summary Bitcoin price continued its strong downward trend on Saturday. The&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21044"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21044\/revisions"}],"predecessor-version":[{"id":21045,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21044\/revisions\/21045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15459"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}