February 2 News, U.S. President Trump nominated Kevin Warsh to serve as Federal Reserve Chair, triggering intense fluctuations in global financial markets. As the market generally perceives Warsh to have independence and crisis management experience, this appointment is seen as a “stability signal,” causing the dollar to strengthen immediately, while risk assets were heavily sold off.
Former Federal Reserve Board member Warsh served from 2006 to 2011 and experienced the global financial crisis. Richard Saperstein, Chief Investment Officer of Treasury Partners, stated that Warsh’s nomination is exactly what the market was expecting, and his reputation within the financial system helps maintain policy credibility.
Following the announcement, commodities led the plunge. Spot gold dropped nearly 9% in a single day, spot silver plummeted 31.4%, marking the largest decline since 1980. During Monday’s Asian session, precious metals continued to be under pressure, with gold falling about 8% and silver dropping over 10%. The failure of safe-haven assets has caused market sentiment to shift clearly toward defense.
Cryptocurrencies also came under pressure, with Bitcoin falling to approximately $75,103, the first time since April 2025 to break below the $80,000 mark. Weakness in tech stocks also dragged down the U.S. stock market, with major indices declining consecutively.
The Asia-Pacific markets also faced shocks. South Korea’s KOSPI index fell over 5%, temporarily suspending trading; Hong Kong’s Hang Seng Index retreated nearly 3%; Japan’s Nikkei 225 declined about 1%. In the energy market, Brent crude and U.S. crude both fell more than 5%, partly due to Trump stating that Iran is engaging in “serious dialogue” with the U.S., easing supply tension expectations.
Looking ahead this week, markets will focus on tech giants’ earnings reports. Alphabet and Amazon are about to release their results, and investors hope that fundamental data can provide new direction amid market turbulence.
This event highlights the powerful influence of policy expectations on global asset prices. The combination of Federal Reserve personnel changes, a strengthening dollar, and the failure of safe-haven assets has increased uncertainty in the financial markets into early 2026.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
A newly created wallet transferred 2,000 BTC from a CEX, worth approximately 140 million US dollars.
Gate News Report, March 11 — According to Lookonchain monitoring, a newly created wallet address "3CziMF" withdrew 2,000 BTC from a certain CEX, worth approximately $140 million.
GateNews11m ago
"Pig-butchering" scam leader Lawyer Chen Zhi submits a motion to the U.S. court, requesting the dismissal of the government's seizure of his Bitcoin.
Chen Zhi's lawyer filed a motion with the U.S. Federal Court in New York to dismiss the government's seizure of the Bitcoin he controls, arguing that there is a lack of evidence supporting the fraud charges and questioning the timeline of the seizure. Last year, the U.S. Department of Justice announced the forfeiture of 127,271 Bitcoins, worth approximately $15 billion. Human rights organizations warn that after the scam camp was shut down, many trafficked workers face the risk of re-sale.
GateNews57m ago
Netflix Blocks Bitcoin Sponsors from Boxer's Gear During Jake Paul vs Anthony Joshua Broadcast
Netflix prohibited Bitcoin-related sponsors from appearing on professional boxer Justin Cardona's fight trunks and gear during the December 19, 2025, Jake Paul vs Anthony Joshua event, forcing last-minute changes just one week before the bout despite prior approval of the sponsorships.
CryptopulseElite1h ago
Yesterday, the US Bitcoin spot ETF had a net inflow of $246.9 million, and the Ethereum ETF had a net inflow of $12.6 million.
On March 11, Farside Investors reported a net inflow of $246.9 million into the U.S. Bitcoin spot ETF, with BlackRock, Fidelity, and Bitwise as the main contributors. At the same time, the Ethereum spot ETF saw a net inflow of $12.6 million.
GateNews1h ago
BTC and ETH short-term holder SOPR has rebounded since late February, indicating increased market resilience.
Gate News Report, March 11 — A research institution released a report indicating that short-term holders of BTC and ETH have been experiencing a rebound in the spent output profit ratio (SOPR) since late February. SOPR is used to measure whether recent sellers are in profit when selling assets. The rebound of this indicator suggests that spot demand has been strong enough recently to absorb reverse selling pressure, making market positioning more resilient.
GateNews1h ago
