Crypto Market Crucial Week: Rise from Correction or Fall Deeper?

Jakarta, Pintu News – The crypto market is entering another crucial phase after a huge selling pressure dragged the global market capitalization down sharply. In the last 24 hours, the cryptocurrency market value shrank by around 2.66% to around USD 2.58 trillion or equivalent to Rp 43,332 trillion.

The liquidation of leveraged positions worth USD 704 million or around IDR 11.82 trillion accelerated the sell-off and worsened sentiment. Investors are now waiting to see if the market is forming a bottom or if it is preparing for a further correction.

Bitcoin and Altcoin Price Pressure Triggers Concerns

Bitcoin’s (BTC) decline to below USD 80,000 or around Rp 1.34 billion is the main trigger for the crypto market weakness this week. Currently, Bitcoin (BTC) was trading in the area of USD 78,537 or equivalent to IDR 1.32 billion, indicating that selling pressure is still dominant. The weakness also dragged Ethereum (ETH) below USD 2,300 or around IDR 38.63 million, showing weak risk appetite in major crypto assets.

Major altcoins such as Ripple (XRP), Cardano (ADA), Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE) also recorded significant declines. Analysts believe this was triggered by a combination of heavy liquidation and macroeconomic concerns. Bitcoin’s (BTC) correlation with gold, which is said to reach 63%, shows that macro factors are increasingly influencing the cryptocurrency market. The situation makes price movements more sensitive to global economic data releases.

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US Economic Data and Fed Policy in the Spotlight

This week, the crypto market is keeping a close eye on a series of economic agendas in the United States that could potentially trigger volatility. The January ISM Manufacturing PMI data is projected to increase slightly to 48.3 from 47.9, an important indicator of the condition of the US manufacturing sector. In addition, the Federal Open Market Committee (FOMC) decided to hold the benchmark interest rate in the range of 3.50%-3.75%, according to market expectations.

Although the interest rate decision was relatively neutral, market participants are paying attention to the future direction of policy. The next FOMC meeting on March 17-18, 2026 is seen as crucial to read the global liquidity outlook. Under these conditions of uncertainty, crypto investors are likely to hold exposure while waiting for clearer signals from the US central bank.

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Liquidity Injection and Fed Chair Transition

Another factor influencing sentiment was the Federal Reserve’s move to inject liquidity through the purchase of Treasury bills worth USD 6.9 billion or around IDR 115.9 trillion. This move was seen as an effort to stabilize financial conditions after concerns of liquidity pressures emerged. Further injections until early February could potentially provide short-term support for the crypto market.

At the same time, market attention was drawn to the appointment of Kevin Warsh as the Fed Chair nominee to replace Jerome Powell. Warsh is scheduled to take office in May 2026 following his confirmation process. This transition is fueling speculation regarding the direction of monetary policy, including the approach to the balance sheet and interest rates. The uncertainty has kept the cryptocurrency market in a cautious mode.

Conclusion

This week has been a pivotal period for the crypto market with selling pressure, the US economic agenda, and the Fed’s policy dynamics all overlapping. Bitcoin (BTC) and Ethereum (ETH) declines confirmed that sentiment is still fragile. With so many macro catalysts in a short period of time, the cryptocurrency market has the potential to be volatile before a clearer direction is established. Investors are now waiting to see if these factors will trigger a recovery or deepen the correction.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Crypto Events to Watch This Week: Will the Market Recover or Crash More?. Accessed February 3, 2026
• Featured Image: Generated by AI