On Thursday, Bitcoin slid back under $90,000 and traded around $87,700 after the Federal Reserve's first 2026 decision to leave interest rates in the 3.50%–3.75% range. The broader crypto market value hovered near $3.11 trillion, with Ethereum retreating toward $3,000 as traders weighed rate-cut timing, shifting flows into gold and silver, and heavy leverage that could trigger liquidations between $75,000 and $105,000.

On January 26, 2026, Hyperliquid founder Jeff Yan claimed on X that the decentralized exchange had become the world's most liquid venue for crypto price discovery, overtaking Binance. He cited tighter spreads and deeper order-book depth on BTC perpetuals, boosted by HIP-3 and HYPE staking, even as critics argued Binance still leads on core liquidity metrics and overall trading volume.

The Federal Reserve has injected $8.306 billion in liquidity, with settlement scheduled for the next day, while its broader monthly operations now total $55.4 billion. Gold has climbed to a new all-time high of $4,717 per ounce as Bitcoin trades around the $95,000 support zone, with market conditions showing rising DeFi value and strong BTC dominance. These dynamics are building against a backdrop of muted liquidations and ongoing dollar weakness, raising questions about whether Bitcoin will follow gold's breakout.

On January 19, Bitcoin fell toward $92,000 and Ether slipped below $3,200 as liquidations hit a yearly high, according to Coinglass. CoinGecko showed total crypto market cap at $3.217 trillion, down more than $100 billion in 24 hours, while geopolitical headlines and elevated leverage pressured risk sentiment.

On January 16, 2026, the total crypto market cap stood at $3.32 trillion as Bitcoin hovered near $95,000. TradingView data showed $139 billion in session volume and dominance around 59%, while Coin Bureau noted $1.8 billion of ETF inflows over four days. DefiLlama reported DeFi TVL at $129 billion, with Ethereum's TVL near $71 billion.

On January 6, 2026, Bitcoin briefly traded above $94,000 amid fresh Federal Reserve liquidity operations. Repo injections totaling $74.6 billion coincided with risk-on flows, while spot Bitcoin ETFs saw $287 million into BlackRock and $471 million across funds. Altcoin activity picked up as Bitcoin dominance dipped below 60%.

As of January 2, Bitcoin trades just below $90,000 while Ethereum nears $3,000 amid heightened on‑chain activity. Ethereum daily transactions recently reached 2.2 million, and Q4 saw Bitcoin down more than 23% with Ethereum losing over 28%, as gold and silver rose 64% and 120% last year.

Bitwise Asset Management said on 30 December 2025 it filed with the SEC for 11 crypto strategy ETFs covering tokens such as AAVE, UNI, ZEC, TAO, CC, ENA, HYPE, NEAR, STRK, SUI, and TRX. According to its filings, each fund may invest up to 60% directly in the applicable token and 40% via ETPs, with derivatives counted at notional value to meet an 80% minimum. Pending approval, the launch is targeted around 16 March 2026.

In 2025, Tron's TRX quietly outpaced Bitcoin and Ethereum as the token posted roughly 12% year-to-date gains while BTC and ETH declined. Tron's market cap stands near $27 Bn, TRX trades around the $0.28–$0.29 range after an August peak near $0.36, and about $4.413 Bn is locked in its DeFi protocols. Technical indicators currently show firm long-term moving averages and fading sell pressure as the network heads into 2026.