Cryptocurrency market maker Wintermute released its latest analysis on 2 Feb.

Regarding the factors behind $BTC prices falling below $80,000, it presented the view that this was a “delayed risk-off” driven not by a single negative catalyst, but by a convergence of multiple macro factors and deleveraging such as

・Doubts about the AI boom due to the decline of the Mag7 stocks

(seven major U.S. tech stocks)

・Caution over Fed Chair Nomination: Kevin Warsh's Surprise Nomination as Next Chair

・Withdrawal of funds from the precious metals market

Bitcoin fell below $80,000 for the first time since the Trump tariff shock in April 2025, with liquidations reaching $2.55 billion (approximately ¥397 billion) over the weekend. According to the firm, this marks the 10th largest liquidation event in cryptocurrency market history.

#fundamentalanalysis #bitcoin #Macro