Bitcoin under pressure and bearish signals strengthen in global crypto markets

The weekend of 01 February 2026 marked a new phase of weakness for Bitcoin, which slipped below $78,000, to its lowest level since April. The decline occurred in a context of profit taking, reduced liquidity and lack of new buyers, after the push deriving from corporate purchases, in particular those of Strategy, lost effectiveness. According to several traders, the market now appears more exposed to forced sales and liquidations on derivatives. Technical signals and operator positioning For Eric Crown, a former options trader at NYSE Arca, the move is part of a bearish pattern that has been underway for months. Indicators such as the monthly MACD declining since November, the bearish crossover between the 21 and 55 weekly EMAs and the 2025 annual “shooting star” close suggest an extended corrective phase. The options market also confirms the change in sentiment: bets on a Bitcoin below 75,000 dollars almost equal those on a return towards 100,000. ETFs, macros and institutional implications The recent decline has pushed the aggregate returns of investors in BlackRock's iShares Bitcoin Trust, calculated on dollar-weighted flows, back into negative territory. In parallel, alternative data on US inflation show a cooling of price pressures, which could influence expectations on the Fed and, indirectly, on risky assets. PepsCrypto reading The picture that emerges is that of a crypto market that has entered a phase of greater caution, where technical signals, operator positioning and macro dynamics invite us to carefully monitor the next key levels of Bitcoin.