New York, Jan 29, 2026, 17:21 EST — After-hours
Bitcoin dropped 5.4% to $84,280 on Thursday, hitting a low of $83,340 earlier in the session. Ether tumbled 6.6% to $2,809.
The selloff gathered pace as investors pulled back from riskier assets. Volatility rattled stocks and commodities amid concerns about U.S.-Iran tensions and the prospect of another U.S. government shutdown. At the same time, costly AI bets dragged the Nasdaq and S&P 500 down. (Reuters)
The Federal Reserve offered little relief to market sentiment. It left rates unchanged in the 3.50%-3.75% band on Wednesday, while Chair Jerome Powell noted the economy had “once again surprised us with its strength.” Michael Pearce, chief U.S. economist at Oxford Economics, said the Fed would likely “remain on an extended pause,” a stance that keeps pressure on assets dependent on easier monetary policy. (Reuters)
Flows have offered no relief recently. U.S. spot bitcoin exchange-traded funds — which hold bitcoin directly — recorded net outflows of roughly $147.4 million on Jan. 27, followed by another $19.6 million on Jan. 28, according to Farside Investors data. (Farside)
Gold attracted the biggest safe-haven demand this week, despite a steep drop on Thursday. “There’s been a dramatic sell-off after precious metals hit recent record highs,” said David Meger, director of metals trading at High Ridge Futures, commenting on gold’s sharp move from a record peak to a deep intraday slide. (Reuters)
Crypto-related U.S. stocks tracked the token’s slump. Coinbase slipped roughly 4.8% in late trading. The bitcoin-focused Strategy tumbled nearly 9.7%. Miners Marathon Digital and Riot Platforms dropped around 4.8% and 3.3%, respectively.
Washington introduced another angle for traders to monitor. The Senate Agriculture Committee pushed forward a crypto market-structure bill along party lines, granting the Commodity Futures Trading Commission oversight of spot crypto markets. Yet Democrats argued the bill still misses crucial protections. Senator Cory Booker commented that lawmakers were “almost in the red zone” but insisted on more work regarding decentralized finance. (Reuters)
The White House plans to meet with bank and crypto leaders on Monday, aiming to end the deadlock over the broader package, Reuters reported. Summer Mersinger, CEO of the Blockchain Association, said the group was “proud to participate.” Digital Chamber CEO Cody Carbone praised the administration for “pulling all sides to the negotiating table.” (Reuters)
The downside risk stands out clearly in a tape like this. Should equity volatility stick around, geopolitical tensions escalate, or ETF outflows pick up pace, bitcoin could drop sharply as momentum traders rush to exit their positions.
Next on the calendar: U.S. producer price inflation for December, set for release Jan. 30 at 8:30 a.m. ET. Eyes will also be on the January Employment Situation report due Feb. 6, along with the Fed’s upcoming meeting March 17-18. (Bureau of Labor Statistics)
