'Crypto King' Silbert: Crash is a Gift from Crypto Gods
Analysis
Price Impact
HighA significant market correction occurred on jan. 31, wiping out over $2.44 billion in positions, predominantly long positions ($2.27 billion). bitcoin plunged more than 5%, touching lows around $77,082.
Trustworthiness
HighThe analysis is based on statements from prominent industry figures like barry silbert (digital currency group) and michael saylor (microstrategy), supported by market data from coinglass.
Price Direction
BullishDespite the sharp correction, influential figures such as barry silbert see this 'flush' as a necessary event to clear speculative excess, which is ultimately healthy for the market's long-term growth. michael saylor also remains unfazed, reiterating his long-term commitment, suggesting a strong underlying belief in bitcoin's future appreciation after such a 'cleanse'.
Time Effect
LongThe described market flush, while painful in the short term, is perceived by key players as a foundational event that removes overleveraged positions, paving the way for more sustainable and robust growth over the long run.
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Article Content:
Cover image via U.Today Read U.TODAY on Google News The Jan. 31 market flush Saylor remains unfazed Advertisement On Jan. 31, retail traders reeled from an excruciating market correction that wiped out over $2 billion in positions However, Digital Currency Group founder Barry Silbert appears to be unfazed by the brutal wipeout. He labeled the crash a "gift from the crypto gods." Silbert took to X (formerly Twitter) to argue that the steep sell-off was a necessary event to flush out speculative excess. HOT Stories Leaked Email to Epstein Framed XRP Supporters as Enemy, Ex-Ripple CTO Says Ripple CTO Emeritus Breaks Silence on XRP and XLM in Epstein Files Crypto Market Review: Did XRP Downtrend End? Shiba Inu (SHIB) Taking a Beating, Bitcoin (BTC) Safe Above $80,000 U.Today Crypto Digest: XRP Millionaires Awaken, Shiba Inu Buyers Step In, Dogecoin Sees 10,782% Rise in Futures Volume The Jan. 31 market flush The market turbulence on Jan. 31 was extremely severe, and it has likely tested the faith of even the most ardent bulls. Advertisement Bitcoin (BTC), which had been trading near a 24-hour high of $83,125.88, lost critical support, plunging 5.2% to trade around $78,727. At its lowest point in the session, the leading cryptocurrency touched $77,082. You Might Also Like Thu, 01/29/2026 - 06:36 Saylor: 'We Buy Real Bitcoin' By Alex Dovbnya According to market data provided by CoinGlass, a staggering $2.44 billion was erased from the market. Advertisement Of the total liquidations, $2.27 billion came from long positions, compared to just $171.09 million in short liquidations. Saylor remains unfazed For the first time since October 2023, the spot price of Bitcoin has fallen below MicroStrategy’s cost basis. On the Bitstamp exchange, BTC reached an intraday low of $75,555. That was the lowes level that the cryptocurrency hit since early April, the month of the infamous tariff shock in the US. Saylor’s firm has an average cost basis of $76,037. Now that Bitcoin is trading in the $77,000–$78,000 range, the margin of safety for the largest corporate holder of Bitcoin has nearly evaporated. However, Saylor appears to be unfazed by the most recent market correction. In a recent social media post, he stated that he is built for "the long run" with an AI-generated picture of himself participating in a marathon. #Bitcoin Price Prediction