QCP released a briefing stating that Bitcoin broke below the key support level of $80,000 on Saturday, hitting a low of $74,500, while Ethereum also fell below $2,170. This decline coincided with Kevin Warsh's confirmation as the next Federal Reserve Chairman, fueling market expectations of policy tightening. Reports indicate that over $2.5 billion in leveraged long positions were liquidated, exacerbating downward pressure on prices. Bitcoin is currently seeking stability around $74,500, a level consistent with the 2025 cycle low. The options market continues to show cautious sentiment, but downside hedging is weaker than during previous periods of market pressure. Analysts point out that near-term movements will depend on whether institutional funds return, easing geopolitical risks, and Warsh's policy statements. This marks the fourth consecutive month of decline for Bitcoin.