Week of February 3 - 9, 2026

Donald Trump announced that he is preparing to nominate Kevin Warsh as the next Chair of the U.S. Federal Reserve (Fed). Warsh is seen as having a noticeably more positive stance toward Bitcoin than Jerome Powell. However, the market remains concerned about his hawkish monetary policy views.

The U.S. Senate Committee on Agriculture voted to advance the CLARITY Act, moving the cryptocurrency market structure bill to the next stage under the Senate Banking Committee, which is expected to be more rigorous and challenging—particularly on issues related to stablecoin yields.

River, a Bitcoin (BTC) financial services firm, revealed that more than 60% of major U.S. banks are already offering or planning to offer Bitcoin-related services, including trading and custody. JPMorgan, for example, is reportedly considering launching crypto trading services.

Standard Chartered reported that the growth of stablecoins poses increasing risks to traditional banks. It estimates that by the end of 2028, up to USD 500 billion in deposits could flow out of U.S. banks into stablecoins, with regional banks being the most vulnerable.

Tesla reported its Q4 earnings and confirmed that it continues to hold 11,509 BTC with no sales, valued at approximately USD 1 billion. However, Bitcoin’s decline to around USD 88,000 toward the end of 2025 forced Tesla to record a mark-to-market impairment loss of USD 239 million.

Japan’s Financial Services Agency (FSA) plans to allow the issuance of crypto ETFs as early as 2028, enabling retail investors to gain exposure to crypto through brokerage accounts. Major financial groups such as Nomura Holdings and SBI Holdings are expected to be among the first to launch these ETFs.

Spot Bitcoin ETFs saw net outflows of approximately USD 1.49 billion during the final week of January, bringing total net outflows for the month to USD 1.6 billion—the third-worst month since their launch. Meanwhile, Spot Ethereum ETFs recorded net outflows of USD 353 million for the month, while SOL and XRP ETFs saw modest net inflows.

Technical Analysis

Bitcoin (BTC) 

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.

• Support: 2,200,000 THB / 70,000 USD
• Resistance: 2,600,000 THB / 80,000 USD

Ethereum (ETH)

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.

• Support: 60,000 THB / 2,100 USD
• Resistance: 84,000 THB / 2,600 USD

Kite (KITE)

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.

• Support: 4.1035 THB / 0.130 USD
• Resistance: 4.9146 THB / 0.1634 USD

Pump.fun (PUMP)

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.

• Support: 0.065 THB / 0.0020 USD
• Resistance: 0.103 THB / 0.0033 USD

Investment Trends    

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.

References

• https://cointelegraph.com/news/kevin-warsh-officially-picked-federal-reserve-chair
• https://www.coindesk.com/policy/2026/01/29/crypto-bill-clears-u-s-senate-milestone-as-effort-advanced-through-first-committee
• https://cointelegraph.com/news/top-us-banks-bitcoin-services-trading-custody
• https://www.theblock.co/post/387211/standard-chartered-warns-stablecoins-could-drain-500-billion-from-u-s-bank-deposits-by-2028
• https://www.coindesk.com/markets/2026/01/28/tesla-made-no-changes-to-bitcoin-holdings-in-q4-as-it-booked-usd239-million-digital-asset-loss
• https://cointelegraph.com/news/japan-considers-crypto-etfs-2028-nikkei
• https://www.theblock.co/post/387923/btc-drops-below-80000-following-1-6-billion-in-monthly-etf-outflows-third-worst-month-on-record

Disclaimers

• Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. It is important to study information carefully and invest based on your own risk profile.
• Past returns or performance of digital assets do not guarantee future returns or performance.

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.