Markets
What to know:
- Alas, in the sorrowful twilight of Thursday, Bitcoin (BTC) has plummeted to a mere $81,000-a sight most unbecoming for our digital knight!
- A staggering $777 million in leveraged crypto long positions met their untimely demise in just one hour-truly, a massacre worthy of Shakespeare!
- Comments from the illustrious President Trump ignited a frenzy in Polymarket betting odds, with whispers that Kevin Warsh might ascend as the next Fed chair, leaving traders clutching their pearls over the more gentle Rick Rieder’s fate.
As evening fell, our dear Bitcoin continued its descent, like a hero in a tragic play, falling to $81,000 before feebly springing back to a paltry $82,000.
In the past 24 hours, the grand cryptocurrency has shed nearly $10,000-like a jester losing his crown in a cruel jest of fate. In this chaotic hour, over $777 million in crypto longs joined the ranks of the fallen, totaling a staggering $1.75 billion lost in mere hours, according to the wise sages at CoinGlass.
The broader cryptocurrency market joined the doom parade, tanking between 7% and 9%-with ether floundering around $2,700, BNB at $843, and XRP desperately clinging to $1.74.
A learned analysis from CoinDesk suggests that should Bitcoin descend below $85,000, we may be witnessing the start of a true cataclysm.
At this very moment, Bitcoin dangles precariously above its November low, just under the treacherous waters of $81,000. The next support might well be found at the fabled tariff-related April 2025 low of $75,000-if one dares venture that far!
Traders seem to have their ears perked up at reports that President Trump intends to nominate the former Federal Reserve Board member, Kevin Warsh, to oust the current Fed Chair Jerome Powell. Trump, in a dramatic fashion, proclaimed his nominee would be unveiled Friday morning, just after unleashing his scathing critique of Powell and the Fed’s reluctance to lower rates.
Polymarket odds on Warsh’s nomination soared to a dizzying 87%, a stark contrast to the mere 37% just two short hours ago. Before this wild turn of events, BlackRock’s fixed-income chief, Rick Rieder, was viewed as the more dovish candidate-perhaps with a touch of poetic irony.
On Thursday, Warsh was spotted at the White House, a sight that surely stirred the intrigue of many!
Read More
- BTC Plummets: Fed Cuts Ignored in Crypto’s Absurdist Farce! 🤡💸
- Bitcoin’s Laziest Coins Finally Roll Off Couch-What Happens Next Will Blow Your Mind! 🍿
- A Gentleman’s Guide to Dogecoin’s Imminent Gallop-Or Perhaps a Tumble
- Will SUI Soar to $7 Despite 6% Plunge? 📈🚀
- Ripple Swoops in on Bitcoin’s Heels: 2030 Gold Rush
- ETH Crash Incoming? 😱
- Silver Rate Forecast
- Pasternak’s Hot-ETH Ticket: Half a Billion Bucks & the Moon’s Already Jealous!
- Get Ready for Ether’s Dramatic Ascent-More Than Just a Craving for Fame! 🚀💥
- 📉DOW DOES THE FLAMINGO: 200-Point Faceplant on Red-Hot PPI Flambé!
2026-01-30 05:29