Week of February 3 - 9, 2026
Bitcoin (BTC) has broken below the key support level of USD 80,000, putting the overall outlook under pressure with a bearish trend. There is still a possibility that the price could decline further to test the USD 70,000 level, which was the previous all-time high since 2022. It is advisable to wait for the price to stabilize before gradually accumulating. Resistance is at the USD 80,000 level; only a sustained move above this level would signal a price recovery.
Ethereum (ETH) has broken below the key support level at USD 2,600, turning the trend decisively bearish. The next support could be as low as USD 2,100. It is not yet an appropriate time to enter positions until the price begins to stabilize. A move back above USD 2,600 would be needed for the trend to recover and turn bullish again.
Kite (KITE) delivered a return of 14.42% over the past week, with the short-term trend remaining bullish. Look for buying opportunities on pullbacks near the support level at USD 0.130. If this support fails, consider cutting losses. Short-term profit-taking is suggested near the resistance level at USD 0.1634.
Pump.fun (PUMP) delivered a return of 9.79% over the past week, with the trend showing signs of recovery from a bearish phase. Look for buying opportunities on pullbacks that hold above USD 0.0020, and take profits at the resistance level of USD 0.0033. If the price can break above this level, the trend may reverse into a bullish one.
The Federal Open Market Committee (FOMC) meeting concluded with interest rates left unchanged, in line with expectations, and no signals that materially impacted the market. However, Bitcoin (BTC) and gold were sold off after Donald Trump announced his intention to nominate Kevin Warsh as the next Chair of the U.S. Federal Reserve. Warsh is known for his hawkish monetary policy stance, raising concerns that additional liquidity may not be injected into the market, triggering selling pressure.
Bitcoin prices are also under pressure as they remain below the average cost basis of Spot Bitcoin ETF holders, short-term holders, and Strategy’s holding cost, increasing the likelihood of further downside.
Key factors to watch this week include discussions around the crypto regulation CLARITY Act at the White House, where greater clarity could provide a positive catalyst for the market. In addition, on Friday, February 6, 2026, the U.S. Nonfarm Payrolls report will be released. Employment is expected to increase by 67,000 jobs, up from 50,000 in the previous month. A weaker-than-expected figure would increase the likelihood of an FOMC rate cut.
Investment strategy: The crypto market remains highly fragile, with no major positive catalysts at present. The overall trend continues to be pressured by selling. It may be prudent to pause investments this week, both in Bitcoin and alternative coins (altcoins), until positive factors emerge to restore market confidence.
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Remark: The views, information, knowledge, and opinions expressed herein are those of the individuals involved and do not represent the views of Bitazza or its employees. Neither this email nor the content presented constitutes investment advice.