Bitcoin (BTC) fell to its lowest level in two months on Thursday as the crypto joined stocks and precious metals in a flash sell-off.
Key points:
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Bitcoin plunges below $85,000 as macro assets suddenly fall from record highs.
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Gold and silver are shocking market watchers as nerves over global financial stability grow.
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BTC price action faces an uphill battle to avoid “Beearadise” at the monthly close.
Gold meltdown takes Bitcoin in its wake
Data from Trading View hit new lows in 2026 for Bitcoin, which reached $83,156 on Bitstamp, bringing daily losses to almost 6%.
Support at the 2026 annual open, as well as nearby moving averages, failed to curb sellers as cryptocurrency liquidations exceeded $500 million in four hours.
Bitcoin and altcoins were not alone in their sudden fall, reacting to global asset jitters that surprised traders. Gold, which hit $5,600 for the first time in history earlier today, fell $400 in just 30 minutes.
In doing so, the precious metal erased more value than the entire market capitalization of Bitcoin.
In response, Bitcoin market participants balanced macroeconomic volatility with hopes that a reset could finally give the bulls pause.
Rate cuts cannot pump BTC.
The pro-crypto president cannot pump BTC.
A weak dollar cannot pump BTC.
Institutional adoption cannot pump BTC.
Increasing global liquidity cannot pump BTC.
The Fed injecting liquidity cannot pump BTC.
Stocks of the new ATH cannot pump BTC.Is there anything that could pump BTC… pic.twitter.com/GK5OAHHP4m
– BitBull (@AkaBull_) January 29, 2026
“Wild markets today as gold and silver wipe out billions in minutes. Yes, $BTC is falling during this panic wave, and we will likely see lower levels,” crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in an article on X.
“Bitcoin’s time to shine is coming.”
Nic Puckrin, CEO of crypto education resource Coin Bureau, was among those who warned that the erratic movements of precious metals were abnormal.
“Gold and silver don’t do that,” he says. said X followers, calling the latest price action “crazy.”
Puckrin argued that the US dollar, the world’s reserve currency, was facing an “erosion of confidence” and that global demand for gold and silver was a sign that investors and central banks were bracing for turmoil.
“They are prepositioning,” he concluded.
“Be excited about the metals, but realize that these purchases are essentially insurance. And, when gold and silver ‘do that,’ we need to pay attention.”
All eyes on BTC price monthly close
Earlier, Cointelegraph reported on manipulative moves on Bitcoin exchange order books involving an unknown whale entity “suppressing” the price.
Related: Bitcoin Trendline Cross Mimics 2022 Amid “Insane” BTC Versus Silver Breakdown
Keith Alan, co-founder of Material Indicators, who reported the phenomenon, then reiterated the need to reclaim the 2026 open by the monthly candle close.
“$BTC is once again testing support at what I consider the most important level on the chart. The rapidly drawing monthly close of the candle makes this an inflection point for the trend,” he said. wrote on X.
“A monthly close above the yearly open will fuel hope for the bulls. A close below this Timescape level ($87.5k) will put us on the path to Bearadise.”
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