BlockBeats news: On February 2, QCP released a report stating that Bitcoin fell below the key support level of $80,000 on Saturday, reaching as low as $74,500, while Ethereum also dropped below $2,170. This round of decline occurred as Kevin Warsh was confirmed as the next Federal Reserve Chair, raising market expectations for tighter monetary policy. According to reports, over $2.5 billion in leveraged long positions were liquidated, further intensifying downward pressure on prices.
Bitcoin is currently seeking stability around the $74,500 level, which aligns with the low point of the 2025 cycle. The options market continues to show cautious sentiment, but downside hedging is weaker than during previous periods of market pressure. Analysts note that recent price movements will depend on whether institutional capital re-enters the market, geopolitical risks ease, and on statements regarding policy by Warsh. This marks Bitcoin's fourth consecutive month of decline.