- Trend: On January 24, 2026, BTC experienced a sharp rise followed by a pullback and wide-range oscillation downward. After briefly touching $90,000, it quickly declined, with the lowest around $87,282. It closed near $89,000, with a slight decrease of about 0.02%-1.4% over 24 hours. The entire network saw over $300 million in liquidations within 24 hours, and market sentiment was extremely fearful.

- Causes: First, the Federal Reserve's rate cut expectations were delayed (only a 15%-20% chance of a rate cut in March), leading to decreased risk appetite among funds; second, high leverage liquidations triggered chain liquidations, amplifying the decline; third, changes in institutional fund flows, with ETF funds marginally tightening and liquidity thinning; fourth, market sentiment was fragile, fear spread, and selling pressure increased.