The week of February 2, 2026, is ending on a bearish note for the crypto market. Bitcoin (BTC) is trading at $76,937, down nearly 4% over seven days. Ethereum (ETH) is under even greater pressure at $2,269, a drop of more than 6% over the same period. This retreat unfolds against a tense macroeconomic backdrop, marked by persistent fears over inflation and interest rates. Analysis: The Factors Behind the Decline Several elements explain this correction. First, U.S. economic data released this week reignited concerns: the January Consumer Price Index (CPI) came in slightly above expectations at 3.2% year-over-year. This reinforced the scenario of a Fed keeping rates higher for longer, weighing on risk assets like crypto. Second, the market digested significant sell flows on exchanges. According to on-chain data, addresses linked to miners transferred substantial volumes of BTC to trading platforms, signaling profit-taking after January’s rally. On the Ethereum side, the relative weakness is also explained by less institutional interest compared to Bitcoin, and persistent regulatory uncertainties in Europe over the status of smart contracts. Finally, overall sentiment remains cautious. The Fear & Greed Index has fallen to 42, in ‘fear’ territory, down from 55 the previous week. Trading volumes are down 12% on major platforms, a sign of cautious waiting. Outlook: What to Watch Next In the short term, Bitcoin is testing a key support around $76,000. A break below this level could open the door to $72,000, while a rebound above $80,000 would reignite bullish momentum. For Ethereum, the $2,200 level is critical. A sustained drop below it could accelerate losses toward $2,000.
