On February 2nd, according to Coinglass data, Bitcoin has been declining for four consecutive months since its last drop in October of last year, falling from a historical high of $126,000 to the current $76,500, with a maximum cumulative decline of 39.3%. Historically, only the declines from July to October 2014 and from August 2018 to January 2019 can be compared to this downturn. Meanwhile, ETH has been down for five consecutive months, with similar long-term decline periods in history being from December 2024 to April 2025, and from May to November 2018. How much longer do you think it will fall?

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QCP Capital analysis indicates that with Kevin Warsh confirmed as the next Federal Reserve Chair, BTC dropped below $80,000 over the weekend, triggering deleveraging in the crypto market. BTC briefly dipped to $74,500, ETH fell below $2,170, and long positions were liquidated by over $2.5 billion; amid continued ETF outflows and cooling risk appetite, BTC has closed lower for the fourth consecutive month. In the short term, focus is on the key levels of $74,000 and $80,000, with future movements depending on institutional capital flows and Federal Reserve policy signals.