feelingbearish

$BTC Market Alert: Bitcoin Slips Below $80k Support
Bitcoin (BTC) is currently facing a sharp downturn, dropping below the critical $80,000 mark as of February 1, 2026. This sell-off is driven by a combination of macroeconomic shifts, geopolitical tensions, and technical liquidations:
​Fed Chair Succession: The nomination of Kevin Warsh to succeed Jerome Powell as Fed Chair has rattled markets. Investors perceive Warsh as "hawkish," leading to fears of tighter monetary policy, a smaller Fed balance sheet, and reduced liquidity.
​Geopolitical Instability:
Tensions in the Middle East have escalated following an explosion at Iran’s Bandar Abbas port (a critical oil hub). This "risk-off" sentiment has pushed investors out of volatile assets like crypto and into traditional safe havens.
​Massive Liquidations: Over $1.6 billion in leveraged crypto positions were wiped out in the last 24 hours. A decisive break below the $80,000 support level—which is also the cost basis for many Bitcoin Spot ETFs—triggered automated sell-offs.
​U.S. Political Uncertainty: A partial U.S. government shutdown began early Saturday after Congress failed to pass a funding bill, further dampening investor confidence in "risk-on" assets.
​Institutional Outflows: Spot Bitcoin ETFs saw net outflows exceeding $1.5 billion over the past week, signaling a retreat by institutional players.
​Sympathy Sell-off: The decline coincided with a "global meltdown" in commodities; gold and silver prices also saw dramatic intraday crashes, contributing to a broader panic across all asset classes.
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