Kevin Wash Confirmed as Federal Reserve Chairman, Cryptocurrency Market Faces Policy Expectation Adjustments

After the dust settled on the Federal Reserve Chair nomination, the cryptocurrency market experienced a significant correction. With Kevin Woor confirmed as the Fed Chair nominee, concerns about future policy directions intensified, triggering a multi-chain asset decline from Bitcoin to Ethereum. Industry-leading research firm QCP Capital pointed out that this shift in policy signals became the core trigger for this round of adjustment. ## Rapid Price Decline, Liquidation Volume Exceeds Expectations According to records, Bitcoin briefly fell below the $80,000 mark, reaching a low of $74,500, a decline of over 7%. Meanwhile, Ethereum also failed to stay resilient, quickly dropping from above $2,170. This coordinated decline resulted in over $2.5 billion in long liquidations, and the market risk appetite index dropped accordingly. As of mid-February 2026, Bitcoin was trading around $65,980, down 0.35% in 24 hours; Ethereum was quoted at around $1,920. ## ETF Outflows Persisting Amid Policy Uncertainty Behind the continued pressure on prices, persistent net outflows from ETF products have been a key driver. Institutional investors remain cautious about the policy stance of the new Fed Chair Kevin Woor, with increased uncertainty about interest rates and liquidity prospects adding to their risk exposure. Data shows Bitcoin has now declined for four consecutive months, breaking the growth momentum seen in the second half of last year, reflecting market caution toward macro policy environments. ## Key Support Levels Under Pressure, Policy Signals as Turning Points In the short term, the market will focus on two critical support levels at $74,000 and $80,000. As the new Fed Chair, Kevin Woor’s initial policy statements and rate decisions will directly influence the subsequent trend of the crypto market. Additionally, whether institutional funds will re-enter the market depends on the specific direction of Fed liquidity policies and the recovery of market risk appetite. Investors should closely monitor every move by the Fed and the flow of large institutional capital.