NEW YORK – Bitcoin fell sharply in early Jan 31 afternoon trading in New York, tumbling below US$80,000 mark to hit levels last seen in April 2025.

The decline came amid thin liquidity and limited buying interest, deepening a drawdown that has erased more than 30 per cent from the world’s largest cryptocurrency. 

Bitcoin fell as much as 7.1 per cent to US$78,159.41 at midday during New York trading hours on Jan 31, while other tokens posted steeper losses.

Ether, the second-largest digital asset, shed more than 10 per ceny, while Solana fell over 11 per cent.

The selloff knocked about US$111 billion off the crypto market’s total value in the past 24 hours, according to CoinGecko data.

The retreat adds to weeks of macro disappointment…