Bitcoin plunges under $80,000 as U.S-Iran attacks deepen

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin plunges under $80,000 as U.S-Iran attacks deepen Bitcoin slid under $80,000 on Saturday as thin weekend liquidity magnified selling pressure, with traders pointing to Middle East tensions, U.S. political risk and lingering crypto-specific uncertainty. By Shaurya Malwa , Francisco Rodrigues Updated Jan 31, 2026, 5:30 p.m. Published Jan 31, 2026, 2:46 p.m. Make us preferred on Google What to know : Bitcoin slipped below $80,000 in thin weekend trading, extending a bout of weakness as risk appetite faded. Geopolitical tensions, including an explosion at Iran’s Bandar Abbas port and a brief U.S. government shutdown, pushed investors away from riskier assets like cryptocurrencies. Crypto-specific pressures, from negative spot bitcoin ETF flows to ongoing deleveraging and industry infighting, have left bitcoin rangebound around $80,000 to $82,000 and vulnerable to further downside. Bitcoin fell below $80,000 on Saturday, extending price weakness into the weekend as traders stayed defensive amid geopolitical headlines, political uncertainty in the U.S. and lingering unease across crypto markets. The world’s largest cryptocurrency fell as much as 2.2% over the past 24 hours, per CoinGecko data. Trading volumes thinned into the weekend, a setup that often leaves prices more vulnerable to abrupt moves. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Risk sentiment took a hit after reports of an explosion at Iran’s Bandar Abbas port, a key shipping hub on the Strait of Hormuz that handles roughly a fifth of the world’s seaborne oil. Further reigniting tensions in the region, Trump has now republished on Truth Social a post saying that the Islamic Revolutionary Guard Corps (IRGC), a military branch of the Iranian Armed Forces, is in “full panic mode.” The post is accompanied by a video showing chaos in the streets of Tehran. "This looks like a broad-based sell-off. We have an event risk over the weekend with an aircraft carrier battle fleet sitting off of Iran. Trump is sabre rattling, which isn't helping,” Russell Thompson, Chief Investment Officer at Hilbert Group told CoinDesk. “This isn't BTC specific, but BTC is obviously a high delta product, so the move has been much higher and more volatile in BTC,” Thompson added. While Iranian authorities said the cause was still under investigation, the incident added to already elevated tensions between Tehran and Washington, nudging investors away from riskier assets. Political uncertainty in the U.S. also weighed on markets. A brief federal government shutdown began over the weekend after Congress failed to pass a full-year funding bill ahead of a midnight deadline. While expected to be short-lived, the lapse added to a growing list of macro concerns that have kept traders cautious. Crypto-specific factors compounded the pressure. Bitcoin has struggled to attract sustained buying interest after a volatile January, with flows into spot bitcoin ETFs turning negative this week and derivatives markets still unwinding leverage built up late last year. The backdrop has left price action choppy and prone to selloffs during quieter trading hours. Recent public sparring among prominent industry figures over the causes of October’s historic liquidation event has also kept nerves frayed, reinforcing a sense that confidence has yet to fully return. For now, bitcoin remains rangebound, with traders watching whether the $80,000–$82,000 zone draws fresh demand or gives way to deeper downside if weekend selling persists. Bitcoin News