El Salvador President Nayib Bukele holds a 91.9% approval rating in a poll of 1,200 people, with security gains cited as the key driver. On February 5, 2026, he responded on X, while Bitcoin usage remains limited despite 2021 legal‑tender status and amid ongoing IMF talks over policy and the Chivo wallet.

On 5 February, Hyperliquid's perpetual DEX booked a record $6.84 million in daily revenue, largely driven by surging real-world asset markets such as silver and gold. A sizeable $5.25 million from that haul was routed into HYPE buybacks, bringing total repurchased tokens to 40.5 million, but after an 84% price rally the token has slipped below its 200-day SMA and may face extended consolidation.

On 8 February 2026, the U.S. Commodity Futures Trading Commission updated its no-action framework to confirm that stablecoins issued by federally chartered national trust banks can be used as collateral in regulated derivatives markets. The move aligns collateral rules with the GENIUS Act’s federal stablecoin framework and is already supporting greater institutional use of compliant, bank-issued digital assets.

Bitcoin has recently advanced by about 4%, even as the wider crypto market climbed roughly 7% and some altcoins posted double-digit gains. At the same time, a large holder moved more than 5,000 BTC worth around $345 million to Binance, while short-term holder liquidations, deeply negative social sentiment and a break in Bitcoin's historical correlation with global M2 money supply have all added to sell-side pressure. These overlapping trends have left BTC under notable bearish control until capital flows turn back in its favor.

On 8 February 2026, analysts pointed to dealer hedging around iShares Bitcoin Trust (IBIT) structured notes as a key driver of Bitcoin’s latest price swings, rather than broad spot market selling. Arthur Hayes argued that these bank-issued products can force mechanical buying or selling when trigger levels are hit, while Mike McGlone highlighted $64,000 as a critical technical zone that could determine whether the market stabilizes or undergoes a deeper reset. Together, these structural flows and macro pressures suggest Bitcoin remains exposed to sharp, non-fundamental moves.

Bullish CEO Tom Farley said in a CNBC interview that the crypto sector is set for large‑scale consolidation, with bigger players acquiring smaller projects. He argued the recent market slide has reset expectations, noting Bitcoin is nearly 45% below its October all‑time high and around $69,405 at publication. Farley added many firms will need to merge and scale.

On 06 February, after three sessions of outflows, crypto markets saw a single-day swing above 10%, and Solana began outperforming Ethereum on several metrics. Solana’s perpetuals volume reached $12.1 billion versus Ethereum’s $9.6 billion, while its stablecoin market rose 8.5% versus 0.2%. The SOL/ETH ratio hovered near 0.04, a historically important area.

President Donald Trump's nomination of Kevin Warsh as the next Federal Reserve chair has lifted market-implied odds of a March interest rate cut to about 23%, up from roughly 18.4% just days earlier. Traders are largely pricing in a 25-basis-point cut, while Polymarket participants assign a 27% chance of two cuts in 2026 and crypto analysts say Bitcoin's next major rally could emerge even if the asset climbs under persistently high Fed rates.