Bitcoin Plunges to New Yearly Low Amid Precious Metals Selloff

Bitcoin plummeted to $80,000 on January 31, reaching its lowest level since April 2025. The decline follows Thursday's rejection at $90,000 and coincides with sharp selloffs in precious metals markets.

The largest liquidation wave occurred across cryptocurrency markets, with approximately $1.7 billion in forced position closures within 24 hours. CoinGlass data shows that roughly 267,000 traders faced liquidations, with long positions accounting for around 93% of total liquidation volume.

Major altcoins such as Ethereum, BNB, and XRP declined by 5-7% in the same period. The broader cryptocurrency market capitalization decreased by approximately $200 billion during this time.