Bitcoin falls below $80,000, continuing decline as liquidity worries mount
The Hindu
Bitcoin, the world’s largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET (1748 GMT) on Saturday, continuing its decline from the previous session.
Bitcoin, the world’s largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET (1748 GMT) on Saturday, continuing its decline from the previous session.
On Friday, bitcoin fell to as low as $81,104, the lowest since November 21, while the U.S. dollar gained after former Federal Reserve Governor Kevin Warsh was selected as the next Fed chair. Some investors and traders are concerned he might tighten up on cash in the financial system.
Warsh has called for regime change at the central bank and wants, among other things, a smaller Fed balance sheet.
Bitcoin and other cryptocurrencies have been regarded as beneficiaries of a large balance sheet, having tended to rally while the Fed greased money markets with liquidity - a support for speculative assets.
Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin, said the Fed’s “bloated balance sheet combined with heavy-handed bank regulation” had kept liquidity trapped on Wall Street instead of flowing to Main Street, helping fuel bubbles in assets such as bonds, crypto, metals and meme stocks.
Ether also fell 11.76% to $2,387.77 on Saturday afternoon. Cryptocurrencies have been struggling for direction since tumbling last year, having been left behind by big rallies in gold and stocks.
P. Chidambaram claims India should buy oil from any source, addressing U.S. threats impacting Russian oil purchases.
West Bengal leaders criticise the 2026-27 Budget for lacking support, while BJP highlights infrastructure plans to boost the economy.
Vijayapura police uncover land grabbing scheme, arresting 200 suspects and are in the process of returning 158 acres to rightful owners.
Kerala CM Pinarayi Vijayan calls for a judicial inquiry into realtor C.J. Roy's suspected suicide during an IT raid.
Karnataka government orders investigation into Molakera explosion, in which six persons, including children, were injuring; ensures medical care for victims.
Follow The Hindu's live updates of the fourth day of the Parliament's Budget session, as both Houses take up the motion of thanks on President Murmu's address, on February 2, 2026
CM Naidu vows to protect law and order amidst YSRCP's violent rhetoric and accusations of misdeeds in Andhra Pradesh.
IUML's Thangal predicts UDF victory in Kerala Assembly polls, criticizing LDF for corporate favoritism and anti-labour policies.
Elon Musk’s social media platform X was back up after a brief outage affected more than 19,000 U.S. users on Sunday
Vijay emphasizes the need for clarity and strategy to secure electoral success for the Tamilaga Vettri Kazhagam party.
IIT-Gn develops a precise synthetic membrane for efficient molecular separation, enhancing water purification and carbon capture technologies.
V. Sivankutty criticises the Union Budget for neglecting public education and workers' rights while favouring corporate interests.
The Union Budget 2026 signals a concerning fiscal contraction for urban India, prioritizing metros over essential services like housing and sanitation.