The crypto market took a sharp hit yesterday (January 31, 2026, into February 1), with Bitcoin plunging below $80,000 (hitting lows around $75,700–$78,000) and erasing significant value. Ethereum dropped even harder (up to ~17% in some reports, trading near $2,400–$2,450), while Solana and other majors fell 10–17%.

Total market cap shed roughly $111 billion in 24 hours, with $1.6–$2.2 billion in leveraged positions liquidated—mostly long bets wiped out in a cascade.
Key causes:
• Thinning weekend liquidity amplified selling pressure.
• Risk-off sentiment from macro factors, including persistent inflation (e.g., hot US PPI data), hawkish rate expectations, and a stronger dollar.
• Broader market correlation: Unwinding of over-leveraged positions after a prior rally (fueled by MicroStrategy-style buying) ran out of steam.
• Geopolitical/political uncertainty and fading new capital inflows added fuel.
This extends a tough stretch—Bitcoin’s now down sharply from recent highs, closing its fourth straight red month. Volatility remains high, but these shakeouts often clear weak hands before potential rebounds. Stay cautious! 🚀📉
#CryptoMarketPullback $BTC $ETH