- Bitcoin fell below $85,000 and touched a low of $84,250.
- CoinGlass data shows total liquidations hit $804 million over the past 24 hours.
- The crash happened as gold fell from its peak above $5,500 on Thursday.
Cryptocurrency markets saw a sharp risk-off move on Thursday, with Bitcoin sliding to a low of $84,250.
The sell-off swept through major tokens, sending shockwaves across the crypto derivatives market.
Long positions bore the brunt of the move, as the drop pushed total liquidations over the past 24 hours above $800 million.
The downturn coincided with an abrupt reversal in gold prices, with the metal retreating from recent highs above $5,500.
Analysts cited mounting macroeconomic and geopolitical tensions as key drivers of the sudden shift in sentiment.
Bitcoin tanks as gold sheds gains
Bitcoin has struggled to reclaim the $90,000 support level, with a brief move toward that mark fading as gold surged.
During Asian and early European trading on January 29, the cryptocurrency began a steady decline, slipping below $88,000.
Selling accelerated as the US session opened, with Bitcoin sliding on above-average trading volumes.
The sell-off pushed the benchmark asset to an intraday low near $84,000, its weakest level since December 2025.
The same area had seen a bearish retest in November, a move that may have prompted at least one large holder to sell roughly 200 BTC.
Over the past 24 hours, Bitcoin was down about 5%.
The broader market sell-off dragged Ethereum to around $2,800, XRP to $1.79, and Solana below $120.
Crypto investor Ted wrote on X that the latest drop has left Bitcoin trading near a critical technical level.
$BTC is now back into its strong support zone.
Nearly $140,000,000 in spot bids have been placed between the $80,000-$84,000 level.
If this zone is lost, Bitcoin will go straight to April 2025 lows. pic.twitter.com/QBbW294Rc0
— Ted (@TedPillows) January 29, 2026
The Bitcoin sell-off unfolded amid a broader shift to risk aversion across global markets.
Equities moved lower, led by a sharp decline in Microsoft shares, while investors also reacted to a sudden reversal in precious metals.
Gold, which had climbed to a record high above $5,500 an ounce earlier on Thursday, reversed course and fell toward $5,300. Silver also retreated sharply from recent highs.
Analysts said the move reflects a mix of macroeconomic pressures and heightened geopolitical risks, including rising tensions between the United States and Iran.
The Federal Reserve’s decision to hold interest rates on Wednesday, alongside guidance suggesting rate cuts may be delayed until late 2026, further weighed on risk assets, prompting investors to favour short-term cash positions over digital assets or traditional safe havens.
Over $800 million was wiped out amid a surge in derivatives liquidations
Bitcoin’s sharp decline was mirrored in the derivatives market, where leveraged positions were unwound aggressively.
Data from crypto analytics platform Coinglass show that more than $800 million in positions across spot and futures markets were liquidated over the past 24 hours, with the bulk of losses borne by long traders.
Bitcoin alone accounted for $332 million in liquidations during the period, of which more than $318 million were long positions, according to the data.
While the scale of the sell-off and liquidations was smaller than the market dislocation seen on October 10, 2025, analysts say the episode underscores ongoing fragility in market positioning.
A small Chinese company has announced plans to acquire a large portfolio of cryptocurrency assets, including Bitcoin and the meme-based TRUMP token, using stock-based financing. Addentax Group Corp. (Nasdaq: ATXG), a textile and logistics firm, disclosed that it is in talks with several cryptocurrency holders to acquire digital assets worth up to $800 million.
These discussions are centered around acquiring up to 8,000 Bitcoins and other tokens like Official Trump through the issuance of new shares of common stock. No binding agreements have been made yet, but the company said that the talks involve influential crypto holders with a strong presence in the sector.
ATXG Plans to Issue Stock in Exchange for Crypto Assets
Addentax stated that its approach involves issuing new common stock to holders of various cryptocurrencies in exchange for digital assets. According to the company, the goal is to use these assets as part of a long-term investment and holding strategy.
The firm explained that discussions have been held with individuals and entities believed to collectively hold approximately 8,000 BTC. ATXG described them as experienced market participants with extensive networks in the cryptocurrency world.
“This initiative supports the Company’s broader blockchain strategy,” said CEO Hong Zhida. He also added that the move will help bring experienced crypto investors onto the company’s shareholder register.
Addentax Group believes that this move could improve its balance sheet by bringing in liquid and widely traded digital assets, while also attracting shareholders with experience in digital markets.
Related Moves by GD Culture Group Raise Questions
Addentax Group’s announcement comes shortly after GD Culture Group, another little-known Chinese firm, revealed a large investment in crypto. According to a securities filing reported by The New York Times, GD Culture Group said it had acquired $300 million worth of Bitcoin and TRUMP tokens.
Despite having only eight employees and reporting zero revenue last year, GD Culture made the investment through a stock sale to an undisclosed entity based in the British Virgin Islands. The lack of details around the deal has drawn attention from market observers.
The TRUMP token, created as a meme coin with political associations, has seen rising attention, although it lacks any underlying use case or intrinsic value. Reports suggest some investors view it as a tool to gain influence or access in political circles.
Donald Trump-Linked Crypto Projects Face Regulatory Scrutiny
At the same time, there is growing regulatory attention on crypto ventures tied to President Donald Trump. On Capitol Hill, House Democrats are seeking records from the Treasury Department regarding suspicious financial activities involving Trump-related crypto efforts.
A letter sent to Treasury Secretary Scott Bessent requested access to suspicious activity reports (SARs) connected to Trump’s cryptocurrency projects. The letter was signed by leading Democrats from three major House committees.
Meanwhile, Movement Labs, which is backed by Donald Trump-affiliated World Liberty Financial (WLFI), is also facing criticism. Leaked documents suggest the project failed to disclose deals made with early investors, raising concerns about transparency. The price of MOVE, the project’s token, dropped more than 6% following these reports.
Lawmakers have pointed to possible conflicts of interest and are calling for further investigation. These developments come at a time when crypto-related political finance is under wider scrutiny from both federal regulators and watchdog groups.
ATXG Pursues Expansion into Digital Asset Market
ATXG emphasized that its current move is part of a broader plan to engage with blockchain technology and digital finance. Management sees digital assets like Bitcoin as being liquid and increasingly accepted by institutional investors.
By acquiring these assets and adding crypto-experienced investors to its shareholder base, ATXG aims to improve its market position and financial strength. The company also views this strategy as a step toward building closer relationships within the cryptocurrency ecosystem.
ATXG has not provided a timeline for when a deal may be finalized, and all talks are currently non-binding. However, the company described the acquisition plan as a “core action” of its crypto strategy.
The post Chinese Company ATXG Reveals $800M Plan to Buy BTC and TRUMP Tokens appeared first on CoinGape.
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On Monday, Marathon Digital (MARA), a Bitcoin miner company, saw its stock MARA price surge by quite a bit, bringing its market capitalization to almost $800 million. The rush followed the news that S&P Global had added Marathon Digital to its S&P SmallCap 600 index. This move pushed the shares of Marathon Digital higher by 18%, to $20.67 a share, according to Yahoo Finance’s Ycharts data. The company increased its value from $4.7 billion to $5.5 billion in market capitalization.
This index is intended to follow firms that have met the predefined criteria and is aimed at ensuring liquidity and financial health. The inclusion of Marathon Digital into this index is an indication that it occupies an increasingly important place in the market and strengthens its position in today’s cryptocurrency mining industry.
Executive Bonus Structure Unveiled as Marathon Digital Charts Growth Path
Together with the extraordinary rise in the stock price, Marathon Digital revealed an executive bonus plan through an 8-K filing with the Securities and Exchange Commission. With bonuses potentially rising to $32.9 million, the company demonstrates that it is all for aligning top executives’ interests with shareholder value. Among the executives identified for possible bonus payments are the following CEO Fred Thiel, CFO Salman Khan, and General Counsel Zabi Nowaid.
As per Marathon Digital’s filing, these awards are linked directly to the company’s stock price, making it clear that there is a mutual interest between the executives and the shareholders. This action not only reflects the company’s belief in its growth path but also steadies its focus on creating value for the shareholders through strategic management and performance-based rewards.
Bitcoin Price Fluctuations Amid Marathon Digital’s Stock Surge
Marathon Digital shares skyrocketed, and the price of Bitcoin fluctuated. The trading levels indicate that Bitcoin is about $63,200.23, with the support at $62,746.24 and resistance at $65,494.90. Even though there has been a recent increase in volume that typically points to a possible bullish trend in the market, Bitcoin’s price has been bearish for the last 24 hours.
Read Also: Polygon Launches Miden Alpha Testnet, What It Means For MATIC Price
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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