New York, February 2, 2026, 17:33 EST — After-hours trading
- After slipping under $75,000 earlier, Bitcoin climbed roughly 1.9% to hover near $78,600
- According to CoinGlass, recent days saw $2.56 billion in bitcoin positions wiped out through liquidations
- Traders are focused on Fed policy clues and a U.S. shutdown that pushed back Friday’s January jobs report
Bitcoin climbed roughly 1.9% to $78,653 in late U.S. trading Monday, recovering from an earlier drop to $74,609.
The bounce back followed a tough kickoff to the week for risk assets, as declines in precious metals dragged down equity futures and crypto during Asian trading. Bitcoin dropped up to 2.4%, hitting roughly $74,546 at one stage, according to Reuters data.
Data from CoinGlass revealed that $2.56 billion in bitcoin positions were liquidated over the past few days, as leveraged bets were forcibly closed when traders failed to meet margin calls. “People taking a step back” to reevaluate risk has been a recurring trend lately, said Adam McCarthy, senior research analyst at digital market data firm Kaiko. Reuters
Tensions around the Federal Reserve outlook have picked up since President Donald Trump named Kevin Warsh as his pick for Fed chair. Investors are also weighing how fast the central bank might shrink its bond holdings. Joe Abate, U.S. rates strategist at SMBC Capital Markets, called shrinking the balance sheet “a nonstarter,” citing strong demand for reserves from banks. Reuters
Ether climbed roughly 1.2% to $2,344 in late trading, bouncing back from earlier losses.
Crypto-related U.S. stocks slid in late trading: Coinbase fell about 3.5%, Strategy dropped nearly 6.7%, and Robinhood plunged around 9.6%.
Microsoft shares dropped roughly 1.6% on the day, deepening the jitters surrounding big tech and risk exposure.
That bitcoin bounce doesn’t answer the bigger question: has forced selling run its course? Traders warn that if the dollar holds strong and yields creep higher once more, the market might plunge back to last week’s lows fast, particularly given the thin liquidity.
Investors now face a new hurdle: the U.S. Bureau of Labor Statistics announced the January jobs report won’t drop on Friday due to a partial government shutdown. “The release will be rescheduled upon the resumption of government funding,” said BLS associate commissioner Emily Liddel. A final House vote on the funding is expected Tuesday. Reuters
Tuesday’s U.S. session will focus on any clues about a shutdown resolution, potential shifts in the Fed narrative following Warsh’s remarks, and whether bitcoin can maintain its footing above $75,000 ahead of upcoming data releases.
