Bitcoin’s drop to around $84,000 on January 29, 2026, was reported alongside a Senate committee vote on crypto legislation—but the available sources do not establish that the vote caused the decline. Futurism reported that Bitcoin had been hovering around $90,000 and that Ethereum and Dogecoin fell by as much as 6 percent that day. Those are historical figures from the article, not current prices.
What happened to Bitcoin and other cryptocurrencies?
In a January 29, 2026 report, Futurism’s Joe Wilkins said Bitcoin had been hovering around $90,000 before falling to around $84,000 on Thursday, January 29. The article described that as Bitcoin’s nadir of 2026 so far at the time. It also reported that Ethereum and Dogecoin fell by as much as 6 percent.
These figures are Futurism’s historical account, not independently verified exchange data or live market quotes. They describe the move reported on January 29, 2026, and should not be read as the assets’ prices today.
Did the Senate committee action cause the price decline?
The sources establish that the market decline and committee action occurred on the same date, and that Futurism placed them in the same news narrative. They do not demonstrate that the legislation or committee vote caused Bitcoin’s fall. No causal explanation or quantified market impact is established by the sources cited here.
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On January 29, the U.S. Senate Committee on Agriculture, Nutrition, and Forestry advanced the Digital Commodity Intermediaries Act. The action was a step in considering legislation, not enactment of a law. The timing alone does not show how traders responded to the committee’s action or whether it drove prices.
What would the Digital Commodity Intermediaries Act do?
In a release about the committee action, Senator John Boozman’s office said the bill would give the Commodity Futures Trading Commission (CFTC) new authority to regulate digital commodities and strengthen consumer protections. That describes the proposal’s stated purpose; it does not mean the CFTC had already received those powers.
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CFTC Chairman Michael S. Selig applauded the committee action. His statement framed it as progress toward regulatory clarity for digital-asset innovators and said: “Today’s action builds on President Trump’s pledge to make America the Crypto Capital of the World, and I look forward to our continued work to ensure the future of finance is Made in America.” This is Selig’s view of the legislation, not evidence of its effect on prices.
Why did lawmakers disagree about the bill?
The committee chair’s office presented the bill as a way to expand CFTC authority and strengthen consumer protections. Senator Dick Durbin, a committee member, gave a sharply different account: he said the measure advanced along party lines and criticized its protections. In his January 29 statement, Durbin said, “Congress must regulate this industry, which is a risky, volatile, and unpredictable investment.” That is his stated position, not a neutral description of the bill or a consensus view among committee members.
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What did traders say online?
Futurism quoted trader João Leite reacting to the market action on X: “Stocks go up, crypto stays flat. Stocks go down, crypto goes down,” followed by “Amazing tech.” The article also quoted another post saying, “Make it make sense.” These are individual reactions reproduced by the publication; they illustrate frustration but do not establish what traders generally thought or why prices moved.
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