Bitcoin has taken a 3% dip over the past 24 hours, now standing at $101,530.19. Its market cap has fallen to $2.01 trillion, marking a 2.44% decrease, while 24-hour trading volume rose by 15.20% to $43.41 billion.
This decline is being attributed to the upcoming tariff policies from Donald Trump, which are set to take effect on February 1. Traders are preparing for potential economic shifts, which could also affect the cryptocurrency market.

In the past 24 hours, Bitcoin worth $64.04 million was liquidated, with $45.34 million coming from long liquidations and $18.69 million from short liquidations, indicating that bullish traders were caught off guard by the sharp drop.
Despite the drop, renowned investor Robert Kiyosaki sees it as a buying opportunity. He tweeted, “TRUMP TARIFFS BEGIN: Gold, silver, Bitcoin could crash. GOOD. Will buy more after prices crash. Real problem is DEBT… which will only get worse.”
Glassnode analysts point to a key price range of $94,000 to $101,000, with $98,000 being a critical support level. A breach below this could see Bitcoin fall to $90,000 or lower.
Bitcoin appears to be forming a double-bottom pattern on the charts, dropping from $106,000 to $101,000, then rebounding to $102,000 before dropping again. If it bounces back to $102,000, it could break above the $106,000 resistance. However, if support fails, further losses may follow.
With the looming tariffs, market volatility remains high. Some expect more downside, while others view this as an ideal buying moment.