Bitcoin’s spot price is hovering near $91,000, while options markets are marking up short‑term turbulence. One‑week implied volatility is spiking around and below the current level even as three‑month IV cools, pointing to heavier demand for downside hedges. With resistance still near $95,000, traders appear braced for a sharp move.

Dubai's DFSA implemented updated crypto rules that took effect on 12 January 2026. The measures ban privacy tokens and "privacy devices" within the DIFC and replace the regulator's token whitelist with firm-led suitability assessments, while easing limits on fund participation and opening access for brokers and custodians using compliant assets.

On 9 January, Ripple filed a policy letter with the U.S. SEC's Crypto Task Force proposing a "promise-based" framework. It argues tokens like XRP should fall outside securities law once original fundraising obligations end, as Congress advances market-structure rules and the SEC begins rulemaking through its new crypto unit.

On 12 January, Bitcoin's advance faded around the $91,000–$92,000 zone while U.S. spot Bitcoin ETFs posted another day of net outflows. BlackRock's IBIT vehicle drove most of the more than 3,700 BTC in redemptions, with on-chain data showing thousands of coins moved to Coinbase Prime and adding visible sell pressure to the market.

On 9 January, the latest U.S. nonfarm payrolls report showed 50,000 jobs added and an unemployment rate near 4.4%, with average hourly earnings around 3.8% YoY. Despite the softer-than-expected labour figures, the total cryptocurrency market capitalisation remained broadly stable above $3 trillion, hovering near $3.07 trillion after a volatile fourth quarter. This muted price response points to a cautious, wait-and-see stance as investors focus more on future inflation data and Federal Reserve guidance than on single data releases.

Large Bitcoin addresses reduced balances over the past year, while long-term holders showed little spending. The cohort has seen a steady drawdown rather than disorderly selling, and BTC traded around $91,000 as momentum cooled but market structure held. On-chain signals imply rotation rather than broad distribution.

On 7 January, Truebit reported a security breach in its "Truebit Protocol: Purchase" smart contract that led to the loss of more than 8,500 ETH, valued around $26–26.5 million. An on-chain pricing flaw allegedly allowed attackers to mint tokens for free, sell them back through the bonding curve, and later move roughly half the stolen funds via Tornado Cash, while the TRU token price plunged by over 60%.

The U.S. Senate Banking Committee is scheduled to mark up its long-awaited market structure bill next week, reopening debate on whether stablecoin issuers may offer rewards, an issue previously addressed in the GENIUS Act. The discussion centers on how rewards could affect competition in payments, community bank deposits, and the role of the U.S. dollar in onchain commerce, with industry research and geopolitical considerations shaping lawmakers' positions.

Between 5 and 7 January, XRP saw consecutive liquidation waves across major exchanges, with Binance handling the largest share. Short liquidations reached about $24.4m on 5 January, then long-side losses jumped to roughly $22.9m on 6 January, signaling an ongoing leverage reset rather than trend confirmation.