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29/01/26 22:54 UTC-04

Geopolitical tensions pushed Bitcoin below $84,000

Cryptocurrency Cryptocurrency
Cryptocurrency Geopolitical tensions pushed Bitcoin below $84,000

Geopolitical escalation became the main catalyst for a sharp collapse in financial markets. President Donald Trump stated that a massive armada led by the aircraft carrier USS Abraham Lincoln is heading toward Iran, and that time for a new nuclear deal is running out. He threatened military actions that would surpass previous operations.

Iran’s foreign minister responded that Iranian forces are “on alert,” intensifying fears of a regional conflict that could disrupt operations in the Strait of Hormuz.

As a result, U.S. equities came under pressure from a sharp sell-off, with technology stocks suffering the most, including shares of Microsoft.

Additional negative pressure came from the prospect of a U.S. government shutdown related to a standoff over funding for the Department of Homeland Security. All of this added even more uncertainty to market conditions.

After trading above the $87,000 level, Bitcoin fell below $84,000, reaching an intraday low of $83,407. Over the past 24 hours, the price of BTC declined by 6.6%.

The cryptocurrency economy as a whole lost 5.29%, with total market capitalization falling to $2.87 trillion on the evening of January 29.

Daily trading volume increased by approximately $15 billion, although most of this activity reflected selling pressure and profit-taking after BTC had surpassed the $90,000 level the previous day.


Hourly BTC/USD chart on Bitstamp, January 29, 2026

Bitcoin is facing pressure from multiple fronts, starting with the hawkish stance of the U.S. Federal Reserve, which kept the federal funds rate unchanged. This has been compounded by growing concerns over military conflicts between states. On top of that, heavily leveraged long positions continue to trigger liquidation cascades amid low liquidity.

See also: "The Trump family’s USD1 enters the top five stablecoins"

#Bitcoin (BTC) #Price drop

Editor: Yuliya Soroka
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