New York, Feb 3, 2026, 06:03 EST — Premarket action underway.
- After a steep selloff over the weekend, Bitcoin ticked up early Tuesday.
- Traders are parsing Fed-policy cues amid a disrupted U.S. data schedule.
- On Monday, spot bitcoin ETF flows flipped back into positive territory.
Bitcoin, the largest cryptocurrency by market cap, climbed roughly 0.8% to $78,067, bouncing between $77,434 and $79,155 during the session. Ether inched up 0.2% to $2,282.
The Bitcoin price drop follows a harsh slide triggered by a wider selloff in risk assets, fueled by weak Microsoft earnings and a steep decline in precious metals that rattled investors. Data provider CoinGlass reported recent bitcoin liquidations — forced closures of leveraged positions when losses exceed margin limits — at around $2.56 billion. “Investors were looking for an excuse to lighten up and they finally got several,” said David Morrison, senior market analyst at Trade Nation. Reuters
Why it matters now: Bitcoin has behaved like a risk barometer, with traders debating if the recent forced selling marked a cleanup or the beginning of tougher times. Liquidity has been uneven, and the next move could hinge more on policy updates than crypto-specific developments.
Kevin Warsh, Donald Trump’s pick to head the Federal Reserve, remains in focus. Joe Abate of SMBC Capital Markets warned that shrinking the Fed’s balance sheet—its stash of bonds and assets—won’t happen swiftly. “Actually reducing the size of the balance sheet is a nonstarter…Banks want this level of reserves,” he said. Reuters
U.S.-listed spot bitcoin ETFs—funds that hold bitcoin and trade like stocks—saw net inflows of $561.8 million on Feb. 2, according to Farside Investors data. BlackRock’s iShares Bitcoin Trust attracted $142.0 million, Fidelity Investments’s FBTC added $153.3 million, and Bitwise Asset Management’s BITB recorded $96.5 million.
That flow support doesn’t offer a clear-cut signal. In crypto, funds can shift quickly, and one volatile session is enough to change the story entirely.
Nerves remain high. Thin trading can magnify swings, and any fresh shock to risk appetite or funding markets might trigger another round of forced selling.
In Washington, the U.S. Bureau of Labor Statistics announced that January’s employment report won’t come out Friday due to the partial government shutdown. “The release will be rescheduled upon the resumption of government funding,” said Emily Liddel. Lawmakers are pushing for a House vote expected Tuesday. Reuters
The next major inflation marker is the consumer price index, set for release on Feb. 11 at 8:30 a.m. ET, per the agency’s schedule.
Traders are eyeing steadier ETF flows and a drop in liquidation spikes, hoping for a more predictable data rhythm. The next key date is the CPI release on Feb. 11, with Washington’s funding vote and a possible rescheduled jobs report not far behind.
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