Bitcoin dropped below $80,000 over the weekend following the confirmation of Kevin Warsh as the next Federal Reserve Chair, triggering a deleveraging in the crypto market. The cryptocurrency briefly touched $74,500, while Ethereum fell below $2,170. The market saw over $2.5 billion in long positions liquidated. QCP Capital noted that Bitcoin has recorded its fourth consecutive monthly decline amid ongoing ETF outflows and cooling risk appetite. The short-term focus remains on the critical $74,000 to $80,000 range, with future movements dependent on institutional fund flows and Federal Reserve policy signals.