CryptoQuant CEO Ki Young Ju said on Feb. 1 that Bitcoin's recent decline reflects persistent selling pressure and the absence of fresh capital inflows, BlockBeats reports. He noted that early holders, whose unrealized gains were supported by ETF and MSTR buying, began locking in profits from early last year, and while strong inflows at the time helped keep the price around $100,000, those inflows have now largely dried up. Ju described MSTR as the main driver of Bitcoin's latest advance and said that unless Saylor sells holdings aggressively, a 70% decline similar to earlier cycles is unlikely. He added that the market bottom is not yet identifiable and this bear phase could develop into a broad, range-bound consolidation.

Bitcoin returned -10.17% in January, its fifth-worst January performance since 2013 and well below the historical January average of 2.81%, Coinglass data show on Feb. 1. Ethereum recorded a -17.52% January return, its third-weakest January since 2017 and significantly under the long-term average of 16.81%. Bitcoin's historical February average stands at 12.2% with only 3 negative instances, while Ethereum shows a 10.37% February average with 2 negative instances.

US spot Bitcoin exchange-traded funds recorded more than $1.6 billion in net outflows in January, Farside Investors data show. FBTC saw approximately $841.7 million withdrawn, GBTC recorded around $449.5 million in net redemptions, and IBIT posted about $136.5 million of net outflows.

Glassnode updated Bitcoin's on-chain key price distribution on Feb. 1 as the price fell to $78,000, BlockBeats reports. Short-term holder cost basis stood at $95,400, active investors at $87,300, realized market mean at $80,500, spot price at $78,600, and network average cost basis at $55,900.

Bitcoin fell below $76,000 on Feb. 1, down 40% from its 2025 high and marking the longest monthly slide since 2018, Bloomberg reported. Market participants cited vanishing bids, shrinking liquidity and weaker confidence, with spot ETFs recording net outflows. Kaiko expects a meaningful recovery may take 6–9 months.

Bitcoin briefly fell below $78,000 on Feb. 1, then traded at $78,184 with a 24-hour decline of 6.52%, HTX market data show. BlockBeats reported the figures.

Centralized exchanges recorded net inflows of 2,735.75 BTC in the past 24 hours on Feb. 1, Coinglass data show. Binance saw net inflows of 1,894.20 BTC, Bybit 1,331.39 BTC, and OKX 467.36 BTC. Gemini posted the largest net outflow at 767.86 BTC.

The Bitcoin ahr999 hoarding indicator fell below 0.45 on Feb. 1 for the first time since Oct. 16, 2023, Sea Bitcoin said via BlockBeats. The ahr999 metric equals (current Bitcoin price / 200-day DCA cost) × (current Bitcoin price / exponential growth estimate), where the 200-day DCA cost represents the average cost of buying equal amounts daily over the past 200 days and the exponential growth estimate is a log growth fit based on historical price and block height or time.

Bitcoin is being positioned as a core asset in the "Anti-Dollar Trade" as debate over crypto's impact on the traditional financial system intensified around the 2026 Davos Forum on Feb. 1, Forbes reports. JPMorgan became the first U.S. large bank to issue a dollar deposit token on a public blockchain in November 2025, and while CEO Jamie Dimon has not fully embraced Bitcoin, he has acknowledged that "blockchain is real" and continued to advance blockchain services for institutional clients. Nigel Green, CEO of deVere Group, warned that the dollar's dominance shows structural cracks as recurring fiscal standoffs and partial government shutdown risks threaten over $1.2 trillion in federal spending, undermining institutional stability, fiscal credibility, and policy predictability. Green said a more multipolar currency setup is becoming more realistic, with digital assets joining euros, yen, and some emerging-market currencies in strategic hedging, while global central banks have been lowering dollar reserves and increasing gold and other currencies, and political shocks are accelerating this trend.