Bitcoin Drops Below $93K as Privacy Coins Surge; Key Token Unlocks Today

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve is expected to keep rates steady in January, supporting current crypto valuations. US CPI and PPI data releases are in focus, with PCE data likely to influence market sentiment. Regulatory uncertainty persists as the US Senate delays the Digital Asset Market Clarity Act, impacting DeFi and stablecoin sectors.

Crypto Market

Bitcoin (BTC) trades at $92,574, down 2.56% in 24h, while Ethereum (ETH) is at $3,211.05, down 2.83%. DASH (DASH) outperformed, rising 8.54% to $78.94 on privacy coin demand. MYX Finance (MYX) gained 1.52% to $5.20, and LayerZero (ZRO) fell 3.54% to $1.68. Altcoins showed mixed trends, with privacy and DeFi narratives driving sector rotation.

Today's Outlook

Today, several small- and mid-cap tokens, including SOON, PZP, KARRAT, and SAROS, have scheduled unlocks, potentially increasing market volatility. No major large-cap unlocks or macroeconomic data releases are expected, so attention may shift to sector-specific developments and liquidity impacts from these token events.

Fear and Greed Index

2.00% Annual Percentile

49 Neutral

Total Crypto Market Cap

$3.13T

2.81%

Total Market Trading Volume

$89.82B

52.02%

Altcoin Season Index

0.00%

Quarterly Percentile

23 / 100

Total Futures Market Open Interest

3.73B

0.55%

Futures

630.16B

16.87%

Perpetuals

II. Industry Updates

Macro-economic Policies

Bitcoin experienced a sharp flash crash to $91,900 early Monday, down 3.79% in one hour, as global risk sentiment shifted amid rising gold and silver prices and escalating US-EU trade tensions. This volatility increases liquidation risk and may impact DeFi liquidity and crypto market stability.

The US Consumer Price Index (CPI) met expectations last week, while the Producer Price Index (PPI) exceeded forecasts. Market focus now turns to the upcoming US Personal Consumption Expenditures (PCE) data, which could influence Bitcoin price direction and overall crypto market sentiment.

Kevin Warsh has emerged as the leading candidate for US Federal Reserve Chair after Kevin Hassett withdrew. Prediction markets now assign Warsh a 60% probability, with the final decision expected this month. Fed leadership changes can affect monetary policy outlook and crypto asset volatility.

The Federal Reserve is expected to keep interest rates unchanged in January, with a 95% probability, according to CME FedWatch. Stable rates may support current Bitcoin price levels and maintain DeFi borrowing costs, but any surprise move could trigger significant crypto market reactions.

China's mBridge CBDC project has processed $55 billion in cross-border payments, highlighting growing adoption of digital currencies for international settlements. This development may enhance blockchain-based payment infrastructure and support increased crypto transaction volumes globally.

Cryptocurrency Regulatory Trends

The U.S. Senate Banking Committee postponed the Digital Asset Market Clarity Act after Coinbase withdrew support, citing concerns over stablecoin yield bans and DeFi restrictions, increasing regulatory uncertainty for the crypto sector.

Kazakhstan updated its banking law to formally regulate digital assets, requiring crypto exchanges and service providers to obtain licenses and comply with AML and investor protection standards, aligning with global regulatory trends.

Dubai's financial regulator implemented a ban on privacy coins in the DIFC, prohibiting trading and promotion of tokens like Monero and Zcash, reflecting a global push for greater transparency and anti-money laundering compliance.

South Korea amended its capital markets laws to recognize tokenized securities as regulated financial products, mandating licensing and disclosure for issuers and intermediaries, which may boost institutional participation in digital assets.

DASH (DASH): DASH surged over 13% in the past 24 hours, driven by renewed demand for privacy coins amid regulatory surveillance. Trading volume exceeded $521M, with the price reaching $86.27 as capital rotated into privacy narratives.

MYX Finance (MYX): MYX Finance rose 3.4% in 24 hours, with market cap at $1.32B and TVL at $22.85M. The uptrend follows successful resistance breakouts and increased airdrop and trading activity, boosting community engagement.

LayerZero (ZRO): LayerZero gained 2.6% in the last 24 hours, with $46M in trading volume. The price rebound is supported by strong fundamentals, recent buybacks, and its leading role in cross-chain DeFi infrastructure adoption.

Smart Money Movements

Strategy Inc. signaled a potential Bitcoin purchase exceeding $1.25 billion, which could raise its total holdings above 700,000 BTC, despite recent stock price declines and dilution concerns.

An early Bitcoin holder sold 500 BTC for $47.77 million, bringing total sales since December 2024 to 2,500 BTC ($265 million), while still retaining 2,500 BTC valued at $237.5 million.

Pantera Capital and Ondo Finance transferred over 200 million ONDO tokens, worth approximately $80 million, to a multi-signature address, with significant distributions to major exchanges including Binance.

Bitcoin holders accumulated 110,000 BTC in January 2026, the largest monthly increase since 2022, with the Fish-to-Shark cohort now controlling nearly 6.6 million coins.

Pump.fun repurchased $250 million worth of PUMP tokens, reducing the circulating supply by 19.45% through a buyback involving 431.3 million tokens.

Events to Watch

Jan 19 (Mon)

China Q4 GDP and December activity data will be released, with a 4.4% YoY growth estimate; Eurozone final December CPI and Canada December inflation rate data also due.

Jan 19 (Mon)

Newton Protocol unlocks 6.25 million tokens (1.82% of supply) at 12 AM UTC.

Jan 20 (Tue)

World Computer Day in Davos: ETH AI Center's Prof. Dr. Alexander Ilic to speak on blockchain and AI convergence.

Jan 21 (Wed)

UK December inflation rate and CPI data to be released, with annual inflation forecast at 3.2%.

Jan 22 (Thu)

US Q4 GDP, GDP Implicit Price Deflator, and PCE data releases; MBG (Multibank Group) unlocks 24.73 million tokens.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

Bitcoin experienced a sharp flash crash to $91,900 early Monday, down 3.79% in one hour, as global risk sentiment shifted amid rising gold and silver prices and escalating US-EU trade tensions. This volatility increases liquidation risk and may impact DeFi liquidity and crypto market stability.

The US Consumer Price Index (CPI) met expectations last week, while the Producer Price Index (PPI) exceeded forecasts. Market focus now turns to the upcoming US Personal Consumption Expenditures (PCE) data, which could influence Bitcoin price direction and overall crypto market sentiment.

Kevin Warsh has emerged as the leading candidate for US Federal Reserve Chair after Kevin Hassett withdrew. Prediction markets now assign Warsh a 60% probability, with the final decision expected this month. Fed leadership changes can affect monetary policy outlook and crypto asset volatility.

The Federal Reserve is expected to keep interest rates unchanged in January, with a 95% probability, according to CME FedWatch. Stable rates may support current Bitcoin price levels and maintain DeFi borrowing costs, but any surprise move could trigger significant crypto market reactions.

China's mBridge CBDC project has processed $55 billion in cross-border payments, highlighting growing adoption of digital currencies for international settlements. This development may enhance blockchain-based payment infrastructure and support increased crypto transaction volumes globally.

Cryptocurrency Regulatory Trends

The U.S. Senate Banking Committee postponed the Digital Asset Market Clarity Act after Coinbase withdrew support, citing concerns over stablecoin yield bans and DeFi restrictions, increasing regulatory uncertainty for the crypto sector.

Kazakhstan updated its banking law to formally regulate digital assets, requiring crypto exchanges and service providers to obtain licenses and comply with AML and investor protection standards, aligning with global regulatory trends.

Dubai's financial regulator implemented a ban on privacy coins in the DIFC, prohibiting trading and promotion of tokens like Monero and Zcash, reflecting a global push for greater transparency and anti-money laundering compliance.

South Korea amended its capital markets laws to recognize tokenized securities as regulated financial products, mandating licensing and disclosure for issuers and intermediaries, which may boost institutional participation in digital assets.

Trending Tokens

DASH (DASH): DASH surged over 13% in the past 24 hours, driven by renewed demand for privacy coins amid regulatory surveillance. Trading volume exceeded $521M, with the price reaching $86.27 as capital rotated into privacy narratives.

MYX Finance (MYX): MYX Finance rose 3.4% in 24 hours, with market cap at $1.32B and TVL at $22.85M. The uptrend follows successful resistance breakouts and increased airdrop and trading activity, boosting community engagement.

LayerZero (ZRO): LayerZero gained 2.6% in the last 24 hours, with $46M in trading volume. The price rebound is supported by strong fundamentals, recent buybacks, and its leading role in cross-chain DeFi infrastructure adoption.

Smart Money Movements

Strategy Inc. signaled a potential Bitcoin purchase exceeding $1.25 billion, which could raise its total holdings above 700,000 BTC, despite recent stock price declines and dilution concerns.

An early Bitcoin holder sold 500 BTC for $47.77 million, bringing total sales since December 2024 to 2,500 BTC ($265 million), while still retaining 2,500 BTC valued at $237.5 million.

Pantera Capital and Ondo Finance transferred over 200 million ONDO tokens, worth approximately $80 million, to a multi-signature address, with significant distributions to major exchanges including Binance.

Bitcoin holders accumulated 110,000 BTC in January 2026, the largest monthly increase since 2022, with the Fish-to-Shark cohort now controlling nearly 6.6 million coins.

Pump.fun repurchased $250 million worth of PUMP tokens, reducing the circulating supply by 19.45% through a buyback involving 431.3 million tokens.

Events to Watch

Jan 19 (Mon)

Jan 19 (Mon)

Jan 20 (Tue)

Jan 21 (Wed)

Jan 22 (Thu)

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