QCP: The near-term trend will depend on whether institutional funds re-enter, geopolitical risks ease, and other factors

BlockBeats News, February 2nd, QCP released a brief stating that Bitcoin broke below the key support level of $80,000 on Saturday, hitting a low of $74,500, and Ethereum also dropped below $2,170. This round of decline coincided with Kevin Warsh being confirmed as the next Federal Reserve chairman, sparking market expectations of policy tightening. It is reported that over $25 billion in leveraged long positions were liquidated, intensifying the downward pressure on prices.

Bitcoin is currently seeking stability around $74,500, a level that aligns with the 2025 cycle low. The options market continues to show cautious sentiment, but the downside hedging intensity is lower than during the previous market stress period. Analysts point out that the recent trend will depend on whether institutional funds re-enter, geopolitical risks ease, and Warsh's policy stance. This marks the fourth consecutive month of decline for Bitcoin.