Guy Fawkes 
Considering the current state of the crypto market, only the brave are buying Bitcoin and cryptos. Even “value” traders are feeling shaky. Retail traders have largely exited, and most are just watching from the sidelines, observing how prices evolve.
Every tick of the Bitcoin price is being closely tracked. The last time the BTC USD price traded at these spot levels was in mid-2025. Unlike the start of last year, the political landscape and institutional sentiment are different. Although the BTC USDT price bounced from similar spot levels before soaring to $126,000 in October 2025, the trading community doesn’t expect immediate technical or fundamental triggers in the short term.
Still, confidence is recovering. Earlier today, the Bitcoin price snapped higher after last week’s sharp sell-off. Of note, the BTC USD price is still trading within the range of the January 31 bear bar. For bulls, however, the fact that prices didn’t sink below $74,000 is reason enough to smile.
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Why Did The Bitcoin Price Crash Over the Weekend?
The bounce is what every Bitcoin and crypto trader wants to see. Earlier today, the Bitcoin price fell below $75,000, inching closer to historical support levels. If this trend had continued, it would have exerted maximum pain on traders.
Part of this sell-off was due to forced liquidations. Nearly $2.5Bn has been liquidated in the last five days alone. There was a spike of over $1.68 billion, mostly leveraged long unwinding, on January 31 when prices collapsed. Usually, when prices drop, leveraged long traders are forced to exit by selling; this heaps pressure on the underlying asset since liquidations cascade into the spot market.
(Source: Coinglass)
Besides liquidations, the nomination of Kevin Warsh as the next Fed Chair, replacing Jerome Powell once his term ends in May 2026, signals a possible shift to a more “hawkish” monetary policy. Warsh is known for opposing aggressive interest rate cuts. Now that he is set to take over from Powell, investors fear the era of cheap money is over, a net negative for crypto bulls.
In the Middle East, increasing friction between Israel and Iran is causing further geopolitical jitters. In times of crisis, capital usually flows from risky assets like crypto into stable instruments, including the USD and Treasuries.
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Will BTC USD Bulls Press On?
Some traders are defiant, even with the Bitcoin price crashing for the fourth consecutive month. On X, some traders think bulls are getting ready to push prices higher.
Your daily dose of Bitcoin Hopium
Same structure
Same price level
Same bullish divergence pic.twitter.com/sxcDc2mpZ7— Ash Crypto (@AshCrypto) February 2, 2026
However, before this happens, outflows from spot Bitcoin ETFs must steady. Over $1.4 billion worth of shares were redeemed by the close of last week, damaging retail sentiment. Liquidity should also improve today, stabilizing prices.
(Source: SosoValue)
On weekdays, there are more traders; however, this changes during weekends. Active participation drops, and liquidity thins. Fewer buyers and sellers mean one large order can shove prices fast. On January 31, stop‑loss orders triggered in sequence. Leverage unwound. Prices slid faster than they usually do during the week. This explains why Bitcoin crashed so quickly without a single breaking headline.
The current rebound tells us Bitcoin buyers still exist at these levels. Many of them wait for weekdays, when banks, funds, and Bitcoin ETFs are active again. ETFs matter because they act like a bridge, letting traditional investors buy Bitcoin through stock accounts. Still, whether they are in or out depends on whether inflows turn positive again. If they do, it will be a confidence boost for battered bulls to HODL and not capitulate.
𝐇𝐨𝐰 𝐥𝐨𝐧𝐠 𝐰𝐢𝐥𝐥 𝐭𝐡𝐞 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐒𝐡𝐮𝐭𝐝𝐨𝐰𝐧 𝐥𝐚𝐬𝐭?
> The partial shutdown of the US federal government occurred on the night of January 31, 2026
> The Democrats did not support this version. They blocked this budget package
> The House of… pic.twitter.com/7EYIfJr9el
— vvtentt (@Vvtentt101) January 31, 2026
Meanwhile, eyes will be on the House. If there is any resolution that sees normal operations resume in government offices, it is likely that Bitcoin and other top cryptos will recover as liquidity flows back.
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The post Bitcoin Price Bounces After -11% Weekend Drop as Weekday Buyers Return appeared first on 99Bitcoins.
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