Bitcoin (BTC) plunged below $80,000, causing a widespread cryptocurrency market crash. On January 31, Bitcoin dropped 5% to $78,479.21, leading to losses in Ethereum, BNB, XRP, and Solana. The crypto market cap fell by over 6% to $2.73 trillion, with $100 billion disappearing in just five hours.

Data from CoinGlass showed $1.61 billion worth of crypto positions liquidated, with Ether, Bitcoin, and Solana leading. The market hit its lowest since April 2025, sparking concerns about Bitcoin’s role in investment portfolios. The crash underscores the high-risk nature of cryptocurrency investments and the need for diversification.

Bitcoin’s sharp decline raises doubts about digital currency stability and reliability. The massive liquidation of crypto positions highlights the risks associated with crypto investments. Gold’s simultaneous crash emphasizes the importance of diversified portfolios and risk management in the volatile crypto market.

Read more at Yahoo Finance: Bitcoin Falls Below $80,000, Down 5% Over Past 24 Hours