Here’s why Bitcoin price is crashing today (Jan. 31)
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 crash happened after Donald Trump nominated Kevin Warsh to be the next Fed Chair.
- It also dropped due to geopolitical risks, and the government shutdown started.
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.
BTC dropped as third-party data shows that ETF outflows continued. It shed over $509 million in…
