On Saturday, Ethereum, XRP and the wider crypto market saw a sharp pullback, wiping roughly $100 billion from total market value while Bitcoin declined more moderately. The move coincided with reports of Israeli airstrikes in Gaza and unfolded in thin weekend liquidity, with Ethereum leading liquidations and altcoins generally underperforming BTC. By 3:41 pm UTC on Jan. 31, 2026, Ethereum traded at $2,539.70, down 6.22% over 24 hours, as total crypto market capitalization hovered around $2.73 trillion.

On Jan. 30, 2026, analyst Liam 'Akiba' Wright updated his medium-term Bitcoin bear thesis calling for a potential move toward $49,000, noting that key network and flow metrics look more stressed than when he first outlined it in November. While Bitcoin trades in the low $80,000s, he points to extremely weak fee contribution to miner revenue, negative year-to-date ETF flows exceeding $1 billion, and miners pivoting into AI and HPC hosting as signs of underlying fragility. Wright argues that these structural pressures are building tension beneath the price and could act as a liquidity magnet if Bitcoin eventually drops into the high-$40,000 zone.

U.S. spot Bitcoin ETFs saw $1.29 billion in net outflows from Dec. 15–31, 2025, followed by $681 million in the first full week of Jan. 2026 and a four-day $1.32 billion drawdown from Jan. 20–23. A single-day inflow of $840.6 million hit Jan. 14 as BTC traded above $97,000. The FOMC meets Jan. 27–28, setting a near-term policy test.

Price targets for 2026 range from $75,000 to $250,000, with several institutions anchoring around $150,000 after a December 2025 downgrade. Anticipated ETF inflows span roughly $15 billion to $50 billion, and early 2026 U.S. spot funds briefly added about $1.1 billion in two days before reversing. Bearish views still allow $35,000–$70,000 if demand and macro weaken.

NYSE said it is developing an on-chain platform to trade and settle tokenized U.S. equities and ETFs, and will seek regulatory approvals for a proposed venue built on that infrastructure. According to ICE, the system targets 24/7 operations, instant settlement, dollar-sized orders, and stablecoin-based funding, with post-trade systems capable of supporting multiple chains for settlement and custody.

Bitcoin is trading close to $96,000 while sizable US spot ETF inflows and options dealers’ long gamma positioning are pulling price in opposite directions. Recent flows of roughly $1.06 billion into spot Bitcoin ETFs since Jan. 8 and compressed volatility near 32% realized and 33% implied have kept price confined around the $90,000–$94,000 band, with key levels now highlighted near $91,500 on the downside and just under $97,800 on the upside.

As U.S. lawmakers advance the CLARITY Act, a policy battle is intensifying over whether stablecoin rewards should be treated as illegal interest and how that definition impacts banks and crypto platforms. FDIC data from Dec. 15, 2025 shows national savings and checking rates far below a 3.89% Treasury reference yield, while programs such as Coinbase's 3.50% USDC rewards and Binance's Simple Earn promotions highlight competing cash-like returns. The drafting dispute is now focused on drawing a line between "hold-to-earn" yield and activity-based loyalty incentives, with banks warning that stablecoin rewards threaten both their deposits and customer relationships.

On January 5, 2026, Bank of America's Merrill, Private Bank, and Merrill Edge platforms will begin allowing advisers to recommend Bitcoin-focused exchange-traded products with an internally framed "modest" 1%–4% allocation for suitable clients. The move channels part of the bank's roughly $4.6 trillion in managed wealth into regulated crypto access, potentially directing billions into Bitcoin over time while explicitly acknowledging the asset's volatility and macro sensitivity.

When oil futures opened on Monday after the U.S. captured Venezuelan president Nicolás Maduro over the weekend, crude prices unexpectedly slipped while Bitcoin traded in the low $90,000s and moved higher. Markets are treating the event as a long-term supply story that could ease inflation and rate pressures, which may give Bitcoin more room as a high-beta macro asset, provided weaker oil reflects future supply rather than collapsing demand.