Bitcoin fell below $85,000 and touched a low of $84,250. CoinGlass data shows total liquidations hit $804 million over the past 24 hours. The crash happened as gold fell from its peak above $5,500 on Thursday. Cryptocurrency markets saw a sharp risk-off move on Thursday, with Bitcoin sliding to a low of $84,250. The sell-off
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Bitcoin fell below $85,000 and touched a low of $84,250.
CoinGlass data shows total liquidations hit $804 million over the past 24 hours.
The crash happened as gold fell from its peak above $5,500 on Thursday.
Cryptocurrency markets saw a sharp risk-off move on Thursday, with Bitcoin sliding to a low of $84,250.
The sell-off swept through major tokens, sending shockwaves across the crypto derivatives market.
Long positions bore the brunt of the move, as the drop pushed total liquidations over the past 24 hours above $800 million.
The downturn coincided with an abrupt reversal in gold prices, with the metal retreating from recent highs above $5,500.
Analysts cited mounting macroeconomic and geopolitical tensions as key drivers of the sudden shift in sentiment.
Bitcoin price chart by CoinMarketCap
Bitcoin tanks as gold sheds gains
Bitcoin has struggled to reclaim the $90,000 support level, with a brief move toward that mark fading as gold surged.
During Asian and early European trading on January 29, the cryptocurrency began a steady decline, slipping below $88,000.
Selling accelerated as the US session opened, with Bitcoin sliding on above-average trading volumes.
The sell-off pushed the benchmark asset to an intraday low near $84,000, its weakest level since December 2025.
The same area had seen a bearish retest in November, a move that may have prompted at least one large holder to sell roughly 200 BTC.
Over the past 24 hours, Bitcoin was down about 5%.
The broader market sell-off dragged Ethereum to around $2,800, XRP to $1.79, and Solana below $120.
Crypto investor Ted wrote on X that the latest drop has left Bitcoin trading near a critical technical level.
$BTC is now back into its strong support zone.
Nearly $140,000,000 in spot bids have been placed between the $80,000-$84,000 level.
If this zone is lost, Bitcoin will go straight to April 2025 lows. pic.twitter.com/QBbW294Rc0
— Ted (@TedPillows) January 29, 2026
The Bitcoin sell-off unfolded amid a broader shift to risk aversion across global markets.
Equities moved lower, led by a sharp decline in Microsoft shares, while investors also reacted to a sudden reversal in precious metals.
Gold, which had climbed to a record high above $5,500 an ounce earlier on Thursday, reversed course and fell toward $5,300. Silver also retreated sharply from recent highs.
Analysts said the move reflects a mix of macroeconomic pressures and heightened geopolitical risks, including rising tensions between the United States and Iran.
The Federal Reserve’s decision to hold interest rates on Wednesday, alongside guidance suggesting rate cuts may be delayed until late 2026, further weighed on risk assets, prompting investors to favour short-term cash posi
Chiliz (CHZ) price fell sharply on Thursday, with a more than 15% plunge sending prices to lows of $0.046. Losses for the token comes as Bitcoin price drops sharply to impact top altcoins. Upbeat sentiment around CHZ remains amid roadmap plans and World Cup 2026 anticipation. The CHZ token, native to the leading blockchain platform
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Chiliz (CHZ) price fell sharply on Thursday, with a more than 15% plunge sending prices to lows of $0.046.
Losses for the token comes as Bitcoin price drops sharply to impact top altcoins.
Upbeat sentiment around CHZ remains amid roadmap plans and World Cup 2026 anticipation.
The CHZ token, native to the leading blockchain platform powering fan engagement in sports, saw its value tumble as the broader altcoin market faced a fresh downturn.
Chiliz traded to its intraday lows as Bitcoin dropped to under $85,000 again.
BTC’s sharp plunge has altcoins in peril mode, with Ethereum down to $2,800, XRP to $1.79, and Solana to $117. CHZ ranked as one of the biggest losers in the top 100 by market cap.
CHZ dips after recent surge
The Chiliz price enjoyed a robust 30% weekly rally leading into late January, with a sudden pump outpacing a slumping global crypto market. CHZ pumped to near $0.06.
In reality, the upswing can be traced back to the momentum of mid-December 2025, when bulls shattered the $0.035 resistance level.
The uptick coincided with heightened anticipation for the FIFA World Cup 2026 set for the summer in the United States, Mexico, and Canada.
Chiliz’s Fan Token ecosystem, which powers tokens for clubs like FC Barcelona and Juventus, has positioned itself as a key blockchain partner.
Event-driven sentiment and Chiliz Chain 2.0 upgrades bolstered bulls. However, concerns over fan attendance amid US visa bans and boycott calls have slightly dampened the outlook.
Chiliz price chart by CoinMarketCap
Sharp declines come amid this, with widespread profit-taking by short-term holders and mounting weakness across altcoins, exacerbating the situation.
Chiliz price forecast: any bullish catalysts?
The current market conditions could allow bears to target the $0.040-$0.035 support zone.
However, beyond its recent volatility, Chiliz’s price may ride broader tailwinds.
The FIFA World Cup in June-July 2026 looms as a centerpiece, while upgrades and regulatory developments could ignite further Fan Token launches.
Chiliz’s “2030 Vision” roadmap, which emphasizes DeFi integrations and institutional tie-ups, also adds to the potential bullish catalysts.
The optimism for Chiliz also lies around the implementation of a transaction fee burning model similar to Ethereum’s EIP-1559.
With this mechanism, a portion of CHZ is burned every time users trade Fan Tokens, mint real-world assets, or transfer a media rights asset.
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