Bitcoin Falls Below $80,000 as $2.5B in Long Positions Liquidated Amid Fed Chair Confirmation

Bitcoin dropped below $80,000 on Saturday and touched $74,500, while Ethereum fell under $2,170, BlockBeats data show. The decline coincided with Kevin Warsh's confirmation as the next Federal Reserve Chair, with over $2.5 billion in leveraged long positions liquidated. QCP said Bitcoin is now attempting to stabilize around $74,500, aligned with the 2025 cycle low, and that near-term direction will depend on institutional flows, geopolitical risks, and Warsh's policy signals—marking Bitcoin's fourth consecutive monthly decline.