Ah, the fickle dance of Bitcoin, that digital chimera, has once again taken a dramatic turn. As the winds of fortune shift, so too does the price of this modern-day folly, plummeting with the grace of a fallen aristocrat. The ETF outflows, those harbingers of distrust, have accelerated their exodus, while geopolitical tensions simmer like a pot left unattended on the stove of global affairs. And let us not forget the government shutdown, a spectacle of inertia that would make even the most lethargic of Tolstoy’s characters blush with embarrassment.
- Bitcoin’s descent continued on Saturday, a day as unremarkable as the coin’s promises of stability.
- The catalyst? Donald Trump, that maestro of chaos, nominated Kevin Warsh to helm the Federal Reserve. A hawk, they say, though one wonders if he will merely squawk louder than the rest.
- Geopolitical risks and the government’s slumbering shutdown added their own notes to this symphony of decline.
Bitcoin, that darling of the digital age, has tumbled below its vaunted $81,000 support level, reaching depths not seen since the leaves turned last October. A bear market, they call it, though one might as well call it a circus of despair, with a 35% fall from its 2025 peak.
The ETFs, those fickle vessels of trust, have bled over $509 million on Friday alone, following Thursday’s $817 million exodus. Four days of outflows, a billion dollars vanished-a testament to the fleeting nature of confidence. And yet, this is but the third month of such hemorrhaging. How long before the patient expires?
Trump’s nomination of Warsh, a man whose hawkish tendencies are as predictable as a Tolstoy novel’s tragic ending, has sent ripples through the markets. Will he tighten the screws? Undoubtedly. Will Bitcoin survive? One can only laugh at the question.
Meanwhile, the drums of war beat softly. Trump, ever the provocateur, contemplates a “kinetic attack” on Iran-a phrase as absurd as it is terrifying. Iran, not one to shy away from drama, threatens to strike Israel, US installations, and close the Strait of Hormuz. The energy market quivers, but Bitcoin? It falls, proving once again that it is no safe haven, merely a mirror reflecting the chaos of its creators.
Gold and the Swiss franc, those stalwarts of stability, have been embraced by investors, while Bitcoin flounders like a fish out of water. Even the US government shutdown, a farce of bureaucratic ineptitude, has added to its woes.
Bitcoin Price Technical Analysis
The daily chart, a canvas of despair, shows Bitcoin erasing its gains with the fervor of a man wiping away tears. Below $85,000, below $83,885-it has fallen further than a protagonist in a Russian novel. The 50-day and 100-day moving averages, the Supertrend indicator, the Ultimate Support of the Murrey Math Lines-all breached, all meaningless in the face of such calamity.
The Average Directional Index rises, a grim reminder that momentum is but a cruel mistress. The forecast? Bearish, of course. $80,000 looms, a precipice beyond which lies $74,000, last year’s nadir. And yet, in this tragedy, there is humor-for what is Bitcoin but a grand experiment in human folly?
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2026-01-31 18:23