Fed Waller: Crypto Euphoria Snuffed Out, BTC at 69K

Federal Reserve member Chris Waller stated that the enthusiasm brought to the cryptocurrency market by US President Donald Trump’s election victory has diminished and the market has become more integrated with traditional finance. Waller, who said the euphoria in the crypto sector has faded, expressed that sales have increased due to traditional financial firms adjusting their risk positions. Despite traditional finance players increasing their crypto exposure under the Trump administration, Congress’s delay in quickly passing the crypto market structure law created uncertainty. Bitcoin (BTC) fell 45% from its October peak of 125.000 dollars, dropped below 60.000 dollars on Friday, and is currently trading around 69.218 dollars (-1.68% 24h change). Waller described market declines as the nature of crypto and advised getting used to fluctuations. RSI at 32.44 gives an oversold signal, while the downtrend continues.

Waller speaking at a Federal Reserve conference on payments in October. Source: YouTube

Waller also announced that the Fed will introduce “skinny master accounts” providing limited access to fintech and crypto firms, i.e., payment accounts, this year. These accounts will include restrictions such as no interest earning and balance limits compared to master accounts owned by large banks. The Fed received feedback until Friday, and Waller aims to complete it by year-end. This step aims to support rapid developments in payment technologies while keeping the system secure.

Critical Support and Resistance Levels for BTC

• Support 1: 62.909$ (Score: 80/100 ⭐ Strong, -9.29% distance)
• Support 2: 68.342$ (Score: 65/100 ⭐ Strong, -1.46% distance)
• Resistance 1: 70.937$ (Score: 74/100 ⭐ Strong, +2.29% distance)
• Resistance 2: 77.356$ (EMA 20, Score: 61/100 ⭐ Strong, +11.54% distance)

Supertrend bearish, EMA 20: 77.356$. For detailed chart, check BTC detailed analysis.

Breaking News: BTC ETF Flows and Binance Purchases

February 9 ETF data positive: Bitcoin ETFs net inflow 144.9M$, Ethereum 57M$. Binance SAFU Fund added 4225 BTC (299.6M$) reaching total 10455 BTC (734M$). These flows give an accumulation signal during the decline. For futures positions, BTC futures.

Frequently Asked Questions About BTC

Why has BTC fallen recently?
Trump euphoria faded, traditional finance sales increased, Congress delay created uncertainty.

Does the Fed’s skinny master accounts affect BTC?
Yes, it can accelerate integration by increasing fintech/crypto access.

Will BTC break the 70K resistance?
RSI oversold, ETF inflows supportive; 70.937$ critical.