On January 31, forced liquidations across crypto derivatives exceeded $2 billion within 24 hours, as prices broke below key supports. Bitcoin saw about $700 million in wiped positions, while Ethereum lost roughly $300 million after falling under $2,500 and moving toward $2,400. Market capitalization fell more than 7% intraday before stabilizing.

On January 31, 2026, Bitcoin and Ethereum extended their declines as a sharp wave of derivatives liquidations swept the crypto market, with total liquidations over 24 hours reaching about $1.59 billion and long positions making up the bulk. Bitcoin fell under $80,000 at one stage, briefly dropping below MicroStrategy's reported average cost basis near $76,037 before partially rebounding, while Ethereum slid under $2,500 amid similar leverage-driven pressures. The pullback is being framed as a leverage and market-structure event rather than a shift in underlying fundamentals.

Over the past two days, while Bitcoin slid 6.95% from its $89.3k high and altcoins dropped 7.98%, Enso's ENSO token showed relative strength. After falling to $1.15 following last week's $2.45 peak, ENSO rebounded sharply, climbing 51.74% on 30 January and gaining 30.8% in the last 24 hours, with key support and resistance levels now clustered between $1.30 and $2.45.

On January 31, 2026, Solana-based DeFi platform Step Finance reported that attackers had compromised several treasury and fee wallets, moving roughly 261,854 SOL valued at about $30 million. Following the incident, the team began an investigation, contacted cybersecurity firms, and Defillama data showed the project's TVL had fallen to zero while the STEP token price dropped sharply.

On 31 January 2026, the crypto market cap held at $2.63T as traders stayed cautious. Cardano traded in the $0.28–$0.30 band, while Zcash consolidated around $285–$295. The ZKP network aims to verify medical data via zk-SNARKs under HIPAA compliance; analysts forecast a potential 7,000x ROI as its presale narrows.

Ethereum dropped from $2,700 to roughly $2,400 on January 31 after losing multiple support levels. Analysts caution that failing to regain those zones could open a deeper drawdown toward $1,435.

Bitcoin dropped more than 7% over the weekend, pushing BTC price under $80,000 and close to its April 2025 low around $74,500. The move sent Bitcoin below the $80,700 true market mean and threatened Strategy's more than 700,000 BTC corporate treasury, which turns negative around $76,037. Analysts highlighted mounting liquidations and key downside levels, including the prior cycle peak at $69,000.

On 31 January 2026 at 21:09, Bitcoin slid to about $77,900, a 7.36% daily decline that coincided with forced unwinds across major tokens. The total crypto market value fell to roughly $2.62 trillion, down 7.48% and erasing over $200 billion, while liquidations topped $2.53 billion, mostly from long positions as Ethereum and Solana underperformed.