Has Bitcoin fallen below $80,000? Is a market turning point imminent? This week's macro events may determine the direction of the crypto market. February 2 News: The cryptocurrency market has experienced another period of intense volatility. In the past 24 hours, the overall market cap has decreased by approximately 2.66%, evaporating to around $2.58 trillion. A high-leverage position worth up to $704 million was forcibly liquidated, triggering a chain reaction that led to panic selling. Bitcoin lost the $80,000 level, Ethereum retreated below $2,300, and major tokens like XRP, ADA, BNB, SOL, DOGE, and others weakened simultaneously, with market sentiment clearly under pressure. Some analysts suggest that this downward move could be one of the most severe corrections since 2026. Data shows that the correlation between crypto assets and gold prices has risen to 63%, indicating that macroeconomic variables are now dominating risk asset trends. Investors are paying close attention to a series of key events this week, which could determine Bitcoin's price movement and the short-term direction of the crypto market.

First, the United States will release several key economic data points. The January ISM Manufacturing PMI, scheduled for Monday, is expected to be 48.3, up from the previous 47.9. This indicator is considered an important signal for assessing economic momentum. On Wednesday, the Federal Open Market Committee announced that the benchmark interest rate will remain in the 3.50% to 3.75% range, with the next meeting scheduled for March 17-18. On Friday, the U.S. Bureau of Labor Statistics will publish the January employment report, with market expectations of approximately 55,000 new jobs and an unemployment rate holding steady at 4.4%. This data often directly influences risk asset prices and is a key reference for short-term Bitcoin trends.

In terms of liquidity, the Federal Reserve has injected about $6.9 billion into the market through Treasury bond purchases to ease short-term financing pressures. Meanwhile, Trump has appointed Kevin Warsh to succeed Powell as the new Federal Reserve Chair, expected to take office in May 2026. This personnel change adds uncertainty to future monetary policy directions.

Globally, markets will also focus on the progress of the Fed's balance sheet adjustments and China's upcoming foreign exchange reserve data. The convergence of multiple macro signals makes this week a critical window for influencing the trajectory of the cryptocurrency market.