In this video: Let's provide a Bitcoin damage report. Video by Benjamin Cowen.
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Bitcoin (BTC) is trading at approximately $78,989 (roughly €73,115) as of February 1, 2026, experiencing a sharp 6% to 7.5% decline over the past 24 hours. This selloff has pushed Bitcoin below the critical $80,000 psychological threshold for the first time since April 2025, driven by heightened geopolitical tensions in the Middle East and the nomination of hawkish Kevin Warsh as the next Federal Reserve Chair.
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Market Summary & News Today
-Massive Liquidations: The sudden drop triggered approximately $1.6 billion in crypto liquidations, with long positions bearing the brunt of the damage.
-Macro Headwinds: The nomination of Kevin Warsh, known for favoring higher interest rates, sparked fears of tighter monetary policy, leading to record single-day outflows of $817 million from U.S. spot Bitcoin ETFs on January 29.
-Geopolitical Stress: Tensions between the U.S. and Iran have reinforced a "risk-off" sentiment, causing investors to rotate capital from digital assets into traditional safe havens like gold and silver.
-Critical Technical Levels: Analysts identify $74,500 to $75,000 as the next major support zone; a failure to hold this could lead to a deeper decline toward $58,000.
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