[DigitalToday AI Reporter] The cryptocurrency market is extending an unstable trend after a sharp drop.

As of 9:30 a.m. on Jan. 31, Bitcoin (BTC) was trading at $84,139, down 0.61 percent from a day earlier, Coin360 data showed. Losses have narrowed somewhat since the earlier plunge, but it has been fluctuating in a weak range without finding a short-term direction. Bitcoin's market share stood at 52.39 percent, keeping its central position in the market despite the price correction.

Major altcoins also remained broadly weak. Ethereum (ETH) fell 4.18 percent to $2,703, and Ripple (XRP) slid 4.05 percent to $1.73. Solana (SOL) also dipped slightly to $117 and did not break from the slump in investor sentiment. Binance Coin (BNB) traded weak at $857.

The market is seeing that additional selling pressure has eased somewhat after the plunge, but an analysis says wait-and-see sentiment is dominant because no clear buying force has emerged. A limited defensive trend was observed in some tokens, but it was assessed as insufficient to reverse the overall market mood.

Experts say bitcoin is trying to find support around the $84,000 level, but the volatile phase is likely to continue for some time, intertwined with volatility in global financial markets.