:Crypto Daybook Americas
By Omkar Godbole (All times ET unless otherwise noted)
The crypto market’s woes on Thursday prompted industry heavyweights to go into “dive protection” mode, a term for coordinated measures aimed at stabilizing a sinking ship.
As bitcoin neared $81,000, the lowest since November, and analysts warned of a deeper decline, Binance sprang into action. The largest cryptocurrency exchange by traded volume said it would roll its user protection fund into Bitcoin from stablecoins and, more importantly, buy BTC to replenish the fund to $1 billion if the value fell below $800 million.
Crypto billionaire and Tron founder Justin Sun acknowledged Binance’s efforts, announcing on X that Tron would also buy more bitcoins in the future.
These measures are likely aimed at calming market nerves and, potentially, setting a floor under BTC prices. But traditional markets teach us that such efforts can be neutralized by larger forces. For example, how many times has the intervention of the Bank of Japan failed to stem the fall of the yen?
In other words, the market needs a clear bullish catalyst to stabilize and the odds seem to be against that. Dollar liquidity is tightening, as Maelstrom CIO Arthur Hayes noted, and the rise of Kevin Warsh, a hawkish former Fed official who cited inflation risks after the 2008 crash, as the preferred candidate for central bank president, is seen as a generally unfavorable development for BTC and other risk assets. Yet despite being a hawk, Warsh has sometimes spoken positively about bitcoin and has invested in crypto-adjacent projects in the past.
Bitcoin has shown no respite so far. It recently traded near $82,700, up slightly from overnight lows but still down more than 6% over 24 hours. Other major tokens, ether XRP Solana , and BNB recorded similar losses.
At the same time, BTC’s dominance in the market fell to 59.16%. This could signal the relative resilience of altcoins to underlying demand, setting them up for a strong rally once sentiment stabilizes. But that’s not necessarily true: Altcoins underperformed throughout Bitcoin’s bull run from early 2023 to October 2025, with limited participation it could just be that they are holding up better as the bull market unwinds.
In traditional markets, precious metals like gold and silver, as well as industrial copper, have fallen sharply from their record levels. Analysts noted earlier this month that once these trends run out of steam, money could flow back into crypto. We’ll see if that happens. Stay vigilant!
Read more: For analysis of current altcoin and derivatives activity, see Crypto Markets Today
What to watch
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Cryptocurrency
- Macro
- January 30, 5 a.m.: European Economic Area GDP growth rate year-on-year (Flash) for the fourth quarter (previously 1.4%), QoQ (Flash) (previously 0.3%)
- January 30, 8:30 a.m.: US PPI YoY for December (previous 3), Core PPI YoY (previous 3)
- Earnings (Estimates based on FactSet data)
Token Events
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Votes and calls on governance
- January 30: Conflux Network will host its quarterly community call.
- GMX DAO votes on a two-year funding framework for GMX Labs, establishing an annual operating budget of $7-9 million from V2 protocol fees. Voting closes on January 30.
- Unlocks
- January 30: to unlock 3.68% of its circulating supply worth $11.22 million.
- February 1: to unlock 1.15% of its circulating supply worth $65.29 million.
- February 1: EigenLayer (EIGEN) will unlock 8.88% of its circulating supply worth $12.53 million.
- Token Launches
- January 30: Kindred Labs (KIN) will be listed on Binance Alpha, KuCoin and others.
- February 1: The IP token buyback program planned by the Story Foundation ends.
Conferences
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is down 2.49% from 4 p.m. ET Thursday at $82,293.08 (24 hours: -5.69%)
- ETH is down 3.37% at $2,720.41 (24 hours: -6.45%)
- CoinDesk 20 is down 2.9% at 2,499.34 (24 hours: -5.92%)
- Ether CESR Composite Staking Rate Up 6 Basis Points to 2.87%
- BTC funding rate is 0.0009% (1.0063% annualized) on Binance
- The DXY is up 0.33% at 96.60
- Gold futures are down 4.61% at $5,108.00
- Silver futures are down 12.69% at $99.90
- The Nikkei 225 closed down 0.1% at 53,322.85
- Hang Seng closed 2.08% lower at 27,387.11
- The FTSE is up 0.16% at 10,188.28
- The Euro Stoxx 50 is up 0.58% at 5,926.34
- DJIA closed Thursday up 0.11% at 49,071.56
- The S&P 500 closed down 0.13% at 6,969.01
- The Nasdaq Composite closed down 0.72% at 23,685.12
- The S&P/TSX Composite Index closed down 0.48% at 33,016.13
- The S&P 40 Latin America closed up 0.24% at 3,760.03
- The 10-year U.S. Treasury yield is up 3 basis points to 4.257%
- E-mini S&P 500 futures are down 0.75% at 6,940.50
- E-mini Nasdaq-100 futures are down 0.87% at 25,773.75
- E-mini Dow Jones Industrial Average futures are down 0.72% at 48,815.00
Bitcoin Statistics
- BTC dominance: 59.29% (-0.09%)
- Ether-bitcoin ratio: 0.03305 (-0.85%)
- Hashrate (seven-day moving average): 837 EH/s
- Hash price (spot): $36.83
- Total fees: 2.74 BTC / $236,749
- Open Interest on CME Futures: 117,145 BTC
- BTC valued in gold: 16.1 ounces.
- BTC vs. gold market capitalization: 5.54%
Technical analysis
- The chart shows weekly fluctuations in the 10-year US Treasury yield since the end of 2024.
- The yield rose more than two basis points to 2.27% this week, testing the downtrend line characterizing a one-year decline.
- A move above this trendline would confirm what analysts call a bullish breakout – a sign that the downtrend is over and more gains are to come.
- Further hardening of yields could undermine the attractiveness of stocks and other risky assets.
Crypto Stocks
- Coinbase Global (COIN): Closed Thursday at $199.18 (-4.89%), -2.63% at $193.95 in pre-market
- Circle Internet (CRCL): closed at $67.55 (-7.26%), -2.16% at $66.09
- Galaxy Digital (GLXY): closed at $29.96 (-6.08%), -3.81% at $28.82
- Bullish (BLSH): closed at $32.66 (-4.86%), -2.63% at $31.80
- MARA Holdings (MARA): closed at $9.86 (-4.92%), -3.45% at $9.52
- Riot Platforms (RIOT): close at $16.97 (-3.30%), -3.71% at $16.34
- Core Scientific (CORZ): closed at $18.84 (-3.34%), -2.97% at $18.28
- CleanSpark (CLSK): closed at $12.59 (-6.39%), -4.61% at $12.01
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): Closed at $48.74 (-5.12%), -2.67% at $47.44
- Exodus Movement (EXOD): closed at $13.98 (-2.44%)
Crypto Cash Companies
- Strategy (MSTR): closed at $143.19 (-9.63%), -3.45% at $138.25
- Strive (ASST): closed at $0.79 (-2.00%), -2.93% at $0.76
- SharpLink Gaming (SBET): closed at $9.37 (-6.02%), -3.42% at $9.05
- Upexi (UPXI): closed at $1.83 (-6.63%)
- Lite Strategy (LITS): closed at $1.25 (-4.58%)
ETF Feed
Spot BTC ETF
- Daily net flows: -$817.8 million
- Cumulative net flows: $55.5 billion
- Total BTC holdings ~1.29 million
ETH Spot ETF
- Daily net flows: -$155.7 million
- Cumulative net flows: $12.26 billion
- Total ETH holdings ~6.05 million
Source: Farside Investors
