Winter Consolidation: BTC and ETH Slow Down as Macro Uncertainty Weighs

Par DCN Editorial Team
Publié le 1 February 2026

Analyse

The week ends on a mixed note for crypto markets. Bitcoin (BTC) is trading at $67,849, slightly down from the start of the week, while Ethereum (ETH) stagnates at $2,053. Trading volumes remained moderate, signaling widespread investor caution.

Analysis: A Week Under the Sign of Wait-and-See

Several factors contributed to this consolidation climate:

– Tight macro conditions: Persistent recession fears in the US, coupled with still-elevated inflation indicators (CPI at 3.4% in February), pushed the Fed to maintain a hawkish tone. Equity markets wobbled, and crypto assets — often correlated with the Nasdaq — followed suit.
– Regulation in limbo: The lack of a clear SEC decision on multiple spot Ethereum ETF applications dampened institutional enthusiasm. Rumors of rejection or delay fuel uncertainty.
– Capital flows: Net inflows into crypto investment products (index funds, ETPs) decreased 40% from the previous week, according to CoinShares. Investors prefer liquidity over risk.

Technically, Bitcoin has oscillated between $66,000 and $69,000 for ten days, forming a narrow range. ETH struggles to break through $2,100, a key psychological resistance. Altcoins, with a few DeFi exceptions, remain broadly sluggish.

Outlook: Recovery or Correction?

In the short term, two scenarios emerge. 1) Bullish: A break above $69,000 for BTC could trigger a move toward $72,000. Macro data next week could provide the catalyst. 2) Bearish: A loss of $66,000 support would open the door to $63,000. For ETH, the $1,950-$2,200 range defines the battle lines.

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