[Weekly Market Analysis by Virtual NISHI] Bitcoin Hits a New Year-to-Date Low, Briefly Plunging Toward the $60,000 Level (Feb. 6, 2026)

Bitcoin recorded fresh year-to-date lows on consecutive days this week. The initial trigger was U.S. President Donald Trump’s nomination of Kevin Warsh—widely regarded as a monetary hawk—as the next chair of the Federal Reserve.

The announcement unsettled markets that had been pricing in a shift toward monetary easing, rapidly heightening risk aversion across risk assets.

Subsequently, gold—long viewed as a safe-haven asset—posted its largest decline in 46 years. This move sparked a broader sell-off in equity markets, particularly in technology stocks, and spillover selling pressure reached the cryptoasset market in the form of loss-covering trades, reflecting cross-asset deleveraging.

As a result, Bitcoin fell below the psychologically significant $70,000 level.

Additional downward pressure came from reports that discussions at the White House over the “Clarity Act,” a proposed regulatory framework for cryptoassets, failed to reach an agreement. Uncertainty surrounding the future of regulation dampened investor sentiment further, accelerating the price decline.