**Market Brief: Crypto Liquidation Flush & Macro Reset** **Bitcoin & Broad Market** Bitcoin plunged to a **two-month low**, briefly touching **$81,000** today (Jan 30, 2026). The sharp sell-off was driven by a "mechanical breakdown" in market structure, exacerbated by escalating US-EU trade tariff threats and a risk-off shift in US equities. * **Sentiment:** The Crypto Fear & Greed Index plummeted to **16** (Extreme Fear). * **Liquidations:** Over **$1.68 billion** in leveraged positions were wiped out in 24 hours. * **Long Squeeze:** **93%** of liquidations were long positions, with Bitcoin alone accounting for nearly **$780 million** and Ethereum losing over **$400 million**. **Macro Triggers** The crash correlates with broader macro anxiety. Renewed geopolitical posturing and tariff risks from the US administration pushed global markets into defensive modes. Institutional exposure was cut rapidly, removing critical liquidity during the dip. **Outlier: Hyperliquid (HYPE)** Bucking the bearish trend, **Hyperliquid** demonstrated significant resilience. The platform saw a surge in activity driven by non-crypto perpetuals (Silver and Gold), causing the **HYPE** token to outperform the broader market correction. Analysts credit this decoupling to the platform's utility in commodities trading and reduced team token unlocks. **Outlook** Market structure has reset. Support at **$84,000** failed to hold, and traders are now eyeing the **$75,000–$78,000** zone for potential stabilization. A recovery depends heavily on the cooling of macro trade tensions and the holding of these lower support levels.