Bitcoin was down by 6.53% at $78,719.63 on Saturday, January 31, 2026, continuing its decline from the previous session.
On Friday, bitcoin, the world’s largest cryptocurrency by market value, fell to as low as $81,104, the lowest since November 21, 2025, while the United States dollar gained after former Federal Reserve Governor Kevin Warsh was selected as the next Fed chair.
Some investors and traders are concerned he might tighten up on cash in the financial system.
Bitcoin and other cryptocurrencies have been regarded as beneficiaries of a large balance sheet, having tended to rally while the Fed greased money markets with liquidity – a support for speculative assets.
Ether also fell 11.76% to $2,387.77 on Saturday afternoon.
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Cryptocurrencies have been struggling for direction since tumbling last year, having been left behind by big rallies in gold and stocks, according to Reuters.
Cryptocurrencies are having a rough time in what was once hoped to be a golden era of flows and friendly regulation under United States President Donald Trump.
Market-leading bitcoin has lost a third of its value since striking record highs in October 2025.
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