February 6, 2026 – The cryptocurrency market is experiencing a significant correction, with Bitcoin briefly dropping to around $60,000, its lowest level since late 2024. The intense selloff has erased recent gains, creating heightened volatility and uncertainty among traders.
Kevin Warsh’s Upcoming Speech
All eyes are now on Kevin Warsh, the newly nominated Chairman of the U.S. Federal Reserve. His first public speech is highly anticipated by investors, as it could influence macroeconomic sentiment and the trajectory of risk assets, including crypto. Analysts suggest that even one well-phrased statement from Warsh could trigger bullish momentum in Bitcoin and major altcoins.
Market Context
Bitcoin’s recent slide to $60,000 marks its largest weekly drop since 2022.
Ethereum and other top altcoins have mirrored BTC’s decline, reflecting broad market weakness.
The selloff also triggered hundreds of millions of dollars in liquidations, amplifying short-term downside pressure.
Why Kevin Warsh Matters
The first speech of a new Fed Chair often sets expectations for future monetary policy. Crypto markets are highly sensitive to Fed guidance:
A dovish or neutral tone could weaken the U.S. dollar and support crypto prices.
Clear communication about economic stability may encourage renewed risk appetite.
Outlook
Currently, the market is in a “wait-and-see” mode, with traders on the sidelines.
Once Kevin Warsh delivers his first speech, it could act as a catalyst for a bullish reversal, sparking renewed buying interest and shifting sentiment from fear to confidence.#MarketCorrection #WhenWillBTCRebound #EthereumLayer2Rethink? #Market_Update #Write2Earn
