The post Bitcoin Traders Swing Bearish as BTC Price Languishes Below $80K appeared on BitcoinEthereumNews.com.

In brief Bitcoin remains below $80K after dipping below the $75K mark on Sunday. Prediction markets show a 68% likelihood of a further drop to $69K levels. The dip comes amid a partial U.S. government shutdown and following Trump’s Fed chair nomination. The likelihood of Bitcoin falling to $69,000 has jumped to 68%, according to users on Myriad. The prediction market platform, which is owned by Decrypt‘s parent company Dastan, shows that bearish sentiment around Bitcoin’s price leapt 35% in the past week as BTC has fallen below the $80,000 mark. At the time of writing, Bitcoin was changing hands for $78,453 after rising 1% in the past day but plunging 11% in the past week, according to crypto price aggregator CoinGecko.  Bitcoin broke below $80,000 on Saturday, falling as low as $74,591 on Sunday, as investors were still digesting the partial U.S. government shutdown, along with news that President Donald Trump had nominated Kevin Warsh to step into the Federal Reserve Chairman role when Jerome Powell’s term ends in May. Warsh is seen as more hawkish than Powell, especially given his past criticism of quantitative easing and the Fed’s balance sheet expansion, Shady El Damaty, CEO and co-founder at Holonym, told Decrypt last week. “That’s raising concern about how aggressive he might be with rate policy if inflation ticks up again,” El Damaty said. “For crypto, the real issue is uncertainty right now, nobody knows if he’d follow through on those views, especially in an election year where pressure to maintain liquidity will be intense.” Analysts at Singapore-based crypto trading firm QCP Capital said that while the drop for Bitcoin has been bad, there are signs that BTC is stabilizing. For example, they pointed out that Bitcoin options markets are signaling caution—but still less severe than in November, when the…

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Filed under: News - @ February 2, 2026 7:30 pm