The nomination of Kevin Warsh as Fed chair was the latest in a long line of hits absorbed by bitcoin in recent months.

ETF flows already appear to be flashing warning signs. According to Burry, Bitcoin ETFs have recorded some of their largest single-day outflows since late November, with three occurring in the final 10 days of January. In his view, once losses deepen, forced liquidations could kick in aggressively.

While no one has fond memories of the 2022 crypto winter — with the price of bitcoin falling 80% — the timeline was relatively brief, roughly one year from the blowoff top to the bottom. From there, bitcoin quickly doubled in price, rose through 2023, and ultimately hit a new record in early 2024.

In the worst case scenario, crypto miners could go bankrupt and the metals market could plummet if bitcoin keeps falling, Michael Burry said.

The bitcoin price has plummeted under the closely-watched $80,000 per bitcoin level, sparking fears that a full-blown bitcoin and crypto crash could be looming.

Bitcoin's relative strength index has fallen below 30, signaling oversold conditions as the cryptocurrency trades near a key $73,000 to $75,000 support zone.

With Bitcoin tagging a low of $74.5K yesterday, BTC is officially in the midst of its deepest drawdown of the current cycle. From the all time high near $126K set in October, last week’s pullback of around 12% means Bitcoin has corrected around 37% since the all time high.

Bitcoin, as well as other alternative cryptocurrencies, experienced sharp price declines on Thursday and have yet to bounce back just one day later. Bitcoin fell to the lower $84,00 range yesterday and continued to slip into the early morning hours, hitting as low as $81,600.

The bitcoin price has now retraced more than 40% from its all‑time highs reached in late 2025. According to Bitcoin Magazine Pro data, the one-year low for the bitcoin price is $74,747. Bitcoin is dancing near that number.

Both bitcoin (BTC-USD) and gold prices (GC=F) continue to slide from their record highs: bitcoin falling to a 10-month low and currently hovering above $78,000 per token, gold dips $4,700 per ounce as the metals sell-off extends.

A part of why many freelancers have begun to gravitate toward Bitcoin and other cryptocurrencies is the rising costs of using traditional global payment platforms. Many of them have started introducing fees and restrictions on transactions that noticeably cut into a freelancer’s bottom line.

On January 29, 2026, Bitcoin (CRYPTO:BTC) crashed 15% from $96,000 to $80,000 in one day. The remarkable part was not the crash itself. It was that Bitcoin fell when two opposite things happened at the same time.