On Feb. 3, 2026, Bitcoin reclaimed the $78,000 level after a recent crash. It had fallen below $74,000 on Feb. 2 as markets reacted to President Trump‘s Fed chair pick.
BTC rose about 3.7% over 24 hours, according to CoinGecko data. Other assets tracked Bitcoin’s early gains.
President Trump made pro-crypto remarks that lifted investor sentiment. He said, “I’m a big crypto person. I helped crypto more than anybody else because I believe in it.”
Markets corrected when Kevin Warsh was named Federal Reserve Chair on Feb. 3. Warsh’s current pro-crypto tone contrasts with prior criticisms and had unsettled some traders.
Traders view the appointment as raising odds of future rate cuts under new Fed leadership. President Trump had publicly criticized Jerome Powell for not cutting rates more aggressively.
The broader crypto market remains fragile after a bearish run since last October. Institutional and ETF holders, including MicroStrategy and BlackRock‘s IBIT investors, reported losses from the recent correction.
Macroeconomic worries may keep some investors sidelined despite the rebound. A drop in gold and silver prices led some funds toward riskier assets (Ed. note: this move could affect short-term flows).
