Hi guys, welcome to What Happened in Crypto Yesterday, your go-to no-fluff daily recap of the top headlines shaping the crypto world. On February 4th, Bitcoin continued its rough slide amid ongoing market weakness, slipping down to $72,000 as investors chose to flee risky assets. Despite the red screens, bold moves persisted: El Salvador doubled down on its Bitcoin strategy. Crypto.com rolled out a major new platform for U.S. users, and the U.S. Treasury Secretary delivered a clear message on government involvement in crypto. So let’s take you through each one of these stories.
El Salvador Keeps Buying the Dip: BTC Purchase Signals Long-Term Conviction
Even as Bitcoin faced sustained selling pressure and hovered in the low-to-mid $70,000s, El Salvador continued its steadfast accumulation strategy. The government, under President Nayib Bukele’s direction, added more Bitcoin to its national reserves in line with its ongoing daily purchase program.
El Salvador has consistently “bought the dip” during downturns, growing its holdings steadily over recent years. The latest addition highlights continued sovereign commitment to Bitcoin, even when global sentiment turns cautious.
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Crypto.com launches OG, a standalone prediction markets platform for U.S. users
Crypto.com officially launched OG, a dedicated, standalone prediction market platform targeted at the U.S. users. Powered by Crypto.com’s CFTC-regulated derivatives infrastructure, OG allows trading on real-world event outcomes. Users can bet on anything from Super Bowl winners to economic indicators, entertainment, and cultural trends. To drive early adoption, the first million sign-ups receive up to $500 in rewards.
The new platform will compete with existing prediction market players like Polymarket and Kalshi. OG also plans margin trading access and aims for eventual global expansion.
U.S. Treasury’s Scott Bessent Rules Out Bitcoin Bailout
In a Congressional testimony yesterday, U.S. Treasury Secretary Scott Bessent firmly rejected any notion of a government “bailout” for Bitcoin. Responding to direct questioning, Bessent stated that neither the Treasury Department nor federal regulators have the legal authority to compel banks to purchase BTC, invest taxpayer funds in cryptocurrency, or otherwise prop up the market during downturns.
Bessent emphasized that current U.S. exposure to Bitcoin remains limited to seized assets from law enforcement, which have significantly appreciated over the years. This is a clear indications that crypto markets will have to slog it out without federal backing especially during a market correction.
That concludes your recap for February 4, 2026, a day when market weakness challenged confidence, but key players remained steadfast.
