No Good News, How Low Will Bitcoin Go

By: blockbeats|2026/02/01 08:00:01
0
Share
copy

The only resilient asset in the crypto world, Bitcoin, has also started to falter. In the early hours of the first day of February, a sharp correction brought it down to $75,000, piercing through the whale manipulations we have long trusted.

After nearly a year, we are once again seeing Bitcoin starting with a 7. The peak of the 2021 bull market was $69,000, very close indeed.

As usual, we must still look for reasons.

Geopolitical Conflict

First is international conflict. On the self-proclaimed fastest news source, platform X, several videos show explosions in various parts of Iran. Currently, the U.S. and Israel have not made any statements, and the authenticity is yet to be confirmed.

Iran is also conducting military exercises in a sensitive area, boldly displaying its lack of fear.

The conflict between the U.S. and Iran appears to be something already known but not confirmed in the market. The recent movements of a U.S. aircraft carrier and Iran's response caused a plunge in global risk assets, including gold. Increased uncertainty always leads Bitcoin, a 24/7 traded asset, to fluctuate first.

Government Shutdown

In the early hours of the 31st local time, the U.S. government officially began a partial shutdown. How fast, it feels like the last shutdown was just last year.

Prior to this, the U.S. Senate passed a spending bill to fund most federal government agencies and sent it to the House for consideration. However, since House members were not in Washington and would not return until Monday (February 2), a partial shutdown could not be avoided after the Senate vote.

Compared to the last record-breaking shutdown, this one seems less severe, but it's still not a good sign. The main issue is the locking up of hundreds of billions of dollars in liquidity, happening over the weekend when liquidity is already scarce. It can't get any worse.

Fear of Monday

The epic plunge of gold and silver, rumors of U.S. banks already collapsing, and the market still pricing in uncertainty; what will happen on February 2 is a global focus.

-- Price

--

Where Will It Drop To

Placeholder VC Partner Chris Burniske previously stated the need to focus on key support levels such as $80,000, $74,000, $70,000, $58,000, and $50,000 and below. Short-term price movements are not the core focus. If the price rebounds, hold and gradually diversify. If there is a significant pullback, consider it an opportunity to increase holdings of Bitcoin and high-quality crypto assets.

Trader Merlijn The Trader previously stated that Bitcoin's key support level was around $80,000. Historical data shows that approximately 127,000 BTC were bought in that price range.

You may also like

The arrival of the Web 3.0 era: A review of Hong Kong court rulings on digital assets

Hong Kong judiciary landmark: The court officially recognizes cryptocurrency as legal property and introduces the "tokenized injunction" to track and freeze involved funds, comprehensively upgrading the protection of digital asset investors.

Track Markets At a Glance: New WEEX Price Widgets for iOS & Android

To streamline your market data access, WEEX has officially launched "Market Watchlist" desktop widgets

The billion-dollar lesson: The focus of DeFi security is shifting from code to operational governance

Warning of nearly $1 billion loss in DeFi: Security pain points have shifted from code vulnerabilities to permissions and operations. Introducing TradFi bank-level risk control and AI defenses is the way to balance openness and security.

A Brief Analysis of Stablecoin Licenses and On-Chain Funding

Hong Kong accelerates the layout of digital finance, providing a panoramic analysis of the evolution of three major on-chain financial forms: central bank digital currency, deposit tokens, and stablecoins, along with future opportunities.

BVNK Founder: Three Stages of Stablecoin Development

Once payments become faster, cheaper, and globally interconnected, stablecoins will not just open up a new market, but a new realm with boundaries that are not yet visible today.

The truth about Trump's son's Bitcoin game: he made a staggering $100 million while retail investors lost $500 million

The Trump family has a family skill: to exaggerate and make something sound bigger than it actually is.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com