The sharp decline in the cryptocurrency market (especially in Bitcoin and altcoins) continues in recent days, and as of today (February 1, 2026), Bitcoin has dropped to the range of 77,000-80,000 dollars (with a loss of around 6-8% in the last 24 hours and over 15% weekly decline). The total market value has fallen to levels of 2.6-2.7 trillion dollars, with billions of dollars in liquidation experienced. Main reasons (along with the most recent developments) Geopolitical tensions are at their peak → The explosion at Iran's Bandar Abbas port (a critical oil passage controlling 20% of the Strait of Hormuz), the escalation of US-Iran tensions, and Trump's sharing that the IRGC is in "panic mode" have created panic in the markets. Investors are fleeing risky assets (crypto, stocks) and moving towards safe havens – this has hit Bitcoin.
Technical breakouts + risk-off mode → Bitcoin broke the critical support at 84,600 dollars, then fell below 80,000. While Nasdaq/tech stocks (led by Microsoft) fell, crypto moved in parallel. Even gold/silver experienced a sharp correction on the same day – meaning it's a "everything is being sold" mode.
Brief summary table (main triggers) Cause
Impact level
Explanation
US-Iran tension + explosion
Very high
Triggered risk flight
Kevin Warsh's FED candidacy
Very high
Tight monetary expectations ↑
Liquidation cascade
High
1.7B$+ liquidation
ETF outflows
Medium-high
Institutional selling pressure
Technical support breakdown
Medium
Fall below 80K
This decline is likely seen as a short-medium term correction – a realization of profits after the peaks at the end of 2025 (120K+ levels) combined with macro shocks. However, recovery may be difficult as long as geopolitical risks (Middle East) and FED uncertainties are not resolved. If the level below 75,000 dollars is broken, a deeper decline (even in the 60-70K range) will start to be discussed. If you want details about a specific coin (ETH, SOL, etc.) or chart level, let me know, and we can look more specifically!
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