“`html
Bitcoin, Ethereum, and Solana experienced a significant downturn on Saturday, February 1, 2026, as retail traders reacted to a volatile week in commodity markets and the announcement of Kevin Warsh as President Donald Trump‘s nominee for Federal Reserve chairman.
As of late Saturday trading,Bitcoin, the largest cryptocurrency by market capitalization, fell below $79,000, a decrease of 6.1%. Ethereum slid approximately 9% to $2,445.31, while Solana lost 9.9%, closing at $105.50.
Trump’s Fed Chair Pick and Market Reaction
The decline in cryptocurrency values follows President Trump’s selection of Kevin Warsh to lead the Federal Reserve. This announcement strengthened the U.S. dollar, alleviating concerns about the central bank’s independence. A stronger dollar