BTC, ETH Rise; HYPE and PUMP Lead Altcoin Gains Ahead of Fed Decision

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve is expected to keep rates steady amid persistent inflation and a cooling labor market, sustaining high borrowing costs and limiting crypto risk appetite. The SEC and CFTC will hold a joint event to discuss harmonizing US crypto regulation, signaling a move toward unified oversight. President Trump's tariff hike on South Korean imports increases global economic uncertainty, potentially driving volatility in BTC and cross-border stablecoin flows.

Crypto Market

The crypto market shows mixed performance over the past 24 hours. Bitcoin (BTC) rose 1.19% to $89,296, while Ethereum (ETH) outperformed with a 3.20% gain to $3,013.07, supported by strong staking inflows. Among altcoins, Hyperliquid (HYPE) surged 27.20% to $32.08, PUMP.fun (PUMP) gained 19.88% to $0.00324, and Chiliz (CHZ) advanced 1.38% to $0.0570, driven by user activity and ecosystem demand. The best-performing sector was perpetual DEX tokens, led by HYPE, while overall sentiment remains cautious ahead of major macro events.

Today's Outlook

The Federal Reserve will announce its first 2026 interest rate decision and the US January unemployment rate, both pivotal for global markets and crypto sentiment. Significant token unlocks occur today: SIGN unlocks $11.6M (17.68% of supply) and Jupiter (JUP) releases 53.47M tokens (1.7% of supply), potentially impacting liquidity and price dynamics.

Fear and Greed Index

8.00% Annual Percentile

35 Neutral

Total Crypto Market Cap

$3.02T

1.44%

Total Market Trading Volume

$116.37B

0.02%

Altcoin Season Index

0.00%

Quarterly Percentile

25 / 100

Total Futures Market Open Interest

3.68B

1.42%

Futures

633.43B

1.91%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve is expected to keep interest rates unchanged at 3.5%-3.75% in its January meeting, maintaining a cautious stance amid persistent inflation and a cooling labor market. This policy pause sustains high borrowing costs, which may limit DeFi liquidity and dampen crypto market risk appetite.

President Trump announced a 25% tariff hike on South Korean imports, reversing a previous agreement. The escalation in trade tensions increases global economic uncertainty, which could drive volatility in BTC prices and impact cross-border stablecoin flows.

The U.S. Dollar Index dropped sharply after President Trump commented on currency volatility, reaching its lowest level since February 2022. The weaker dollar has boosted gold prices and may support BTC and other crypto assets as alternative stores of value.

Former Reagan advisor Steve Hanke criticized U.S. monetary and trade policy uncertainty ahead of the Fed decision, warning that policy unpredictability is undermining global confidence in the dollar. This environment may increase demand for decentralized assets like Bitcoin as a hedge.

U.S. stock markets closed mixed, while the ALTS cryptocurrency surged over 10%. Equity market indecision and selective crypto outperformance reflect investor rotation amid macroeconomic policy uncertainty, influencing capital flows into digital assets.

Cryptocurrency Regulatory Trends

The SEC and CFTC will hold a joint public event on January 29 to discuss harmonizing U.S. crypto regulation, signaling a move toward unified oversight and potentially boosting investor confidence.

The UK Financial Conduct Authority has finalized its crypto regulatory consultation, setting a three-year roadmap for full implementation by October 2027, which may attract institutional participation and enhance market stability.

Australia's financial regulator ASIC has flagged crypto regulation gaps as a major risk for 2026, pushing for new licensing laws to address unlicensed advice and protect consumers, which could impact exchange operations and investor trust.

Japan's Financial Services Agency is seeking public comment on bond standards for stablecoin reserves, aiming to strengthen financial stability and set stricter requirements for stablecoin issuers, which may affect stablecoin market operations.

The U.S. Department of Justice sentenced a Chinese national to nearly four years in prison for laundering $37 million in crypto fraud, highlighting ongoing enforcement actions that may deter illicit activity and support regulatory credibility.

Hyperliquid (HYPE): HYPE surged 24% in 24h to $27.60, with trading volume up 125% to $538M. The rally is driven by high user activity and growing adoption of its zero gas fee perpetual DEX, but no specific protocol upgrade or listing event was identified in the last 24 hours.

Pump.fun (PUMP): PUMP rose 21.9% in 24h to $0.00309, with $387M in trading volume, up 97%. The price action is fueled by strong community engagement and increased usage of its launchpad and AMM, though no major news or event was confirmed in the last 24 hours.

Chiliz (CHZ): CHZ gained 8.6% in 24h to $0.0549, with $102M in trading volume, up 8.7%. The move is supported by ongoing fan token partnerships and steady demand on major exchanges, but no new partnership or technical upgrade was reported in the last 24 hours.

Smart Money Movements

Strategy Inc. purchased 2,932 BTC for $264.1 million between January 20 and 25, 2026, raising its total Bitcoin holdings to 712,647 BTC, funded by $257 million in common stock and $7 million in preferred shares.

A major Ethereum whale sold 10,000 stETH for $30.12 million via Wintermute, realizing a $1.04 million profit, while still holding 60,013 ETH with an unrealized profit of $7.24 million.

Tether increased its gold reserves by 27 tons in Q4 2025, bringing total gold holdings to over 140 tons valued at approximately $23 billion, now stored in a Swiss nuclear bunker.

Machi deposited $225,000 USDC into HyperLiquid, increasing a 25x long position in ETH and opening a 10x long in HYPE, with total leveraged positions reaching $20.8 million.

World Liberty Financial rotated $8 million from Bitcoin to Ethereum, selling 93.77 WBTC to acquire 2,868 ETH at an average price of $2,813, reflecting a strategic shift amid regulatory optimism.

Events to Watch

Jan 28 (Wed)

The Federal Reserve will announce its first 2026 interest rate decision; U.S. January unemployment rate will be released, both key for global markets.

Jan 28 (Wed)

SIGN token unlock: $11.6 million, 17.68% of circulating supply; Jupiter (JUP) unlock: 53.47 million tokens, 1.7% of supply, both on Jan 28.

Jan 28 (Wed)

Bank of Canada will announce its policy rate decision and release the Monetary Policy Report, impacting CAD and North American rate spreads.

Jan 30 (Fri)

Eurostat will release Euro area GDP data; US Producer Price Index (PPI) for December 2025 will be published, both influencing global risk sentiment.

Feb 1 (Sun)

EIGEN token unlock: $12 million, 8.88% of circulating supply, scheduled for February 1, may affect token price and market liquidity.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

President Trump announced a 25% tariff hike on South Korean imports, reversing a previous agreement. The escalation in trade tensions increases global economic uncertainty, which could drive volatility in BTC prices and impact cross-border stablecoin flows.

The U.S. Dollar Index dropped sharply after President Trump commented on currency volatility, reaching its lowest level since February 2022. The weaker dollar has boosted gold prices and may support BTC and other crypto assets as alternative stores of value.

Former Reagan advisor Steve Hanke criticized U.S. monetary and trade policy uncertainty ahead of the Fed decision, warning that policy unpredictability is undermining global confidence in the dollar. This environment may increase demand for decentralized assets like Bitcoin as a hedge.

U.S. stock markets closed mixed, while the ALTS cryptocurrency surged over 10%. Equity market indecision and selective crypto outperformance reflect investor rotation amid macroeconomic policy uncertainty, influencing capital flows into digital assets.

Cryptocurrency Regulatory Trends

The SEC and CFTC will hold a joint public event on January 29 to discuss harmonizing U.S. crypto regulation, signaling a move toward unified oversight and potentially boosting investor confidence.

The UK Financial Conduct Authority has finalized its crypto regulatory consultation, setting a three-year roadmap for full implementation by October 2027, which may attract institutional participation and enhance market stability.

Australia's financial regulator ASIC has flagged crypto regulation gaps as a major risk for 2026, pushing for new licensing laws to address unlicensed advice and protect consumers, which could impact exchange operations and investor trust.

Japan's Financial Services Agency is seeking public comment on bond standards for stablecoin reserves, aiming to strengthen financial stability and set stricter requirements for stablecoin issuers, which may affect stablecoin market operations.

The U.S. Department of Justice sentenced a Chinese national to nearly four years in prison for laundering $37 million in crypto fraud, highlighting ongoing enforcement actions that may deter illicit activity and support regulatory credibility.

Trending Tokens

Hyperliquid (HYPE): HYPE surged 24% in 24h to $27.60, with trading volume up 125% to $538M. The rally is driven by high user activity and growing adoption of its zero gas fee perpetual DEX, but no specific protocol upgrade or listing event was identified in the last 24 hours.

Pump.fun (PUMP): PUMP rose 21.9% in 24h to $0.00309, with $387M in trading volume, up 97%. The price action is fueled by strong community engagement and increased usage of its launchpad and AMM, though no major news or event was confirmed in the last 24 hours.

Chiliz (CHZ): CHZ gained 8.6% in 24h to $0.0549, with $102M in trading volume, up 8.7%. The move is supported by ongoing fan token partnerships and steady demand on major exchanges, but no new partnership or technical upgrade was reported in the last 24 hours.

Smart Money Movements

Strategy Inc. purchased 2,932 BTC for $264.1 million between January 20 and 25, 2026, raising its total Bitcoin holdings to 712,647 BTC, funded by $257 million in common stock and $7 million in preferred shares.

A major Ethereum whale sold 10,000 stETH for $30.12 million via Wintermute, realizing a $1.04 million profit, while still holding 60,013 ETH with an unrealized profit of $7.24 million.

Tether increased its gold reserves by 27 tons in Q4 2025, bringing total gold holdings to over 140 tons valued at approximately $23 billion, now stored in a Swiss nuclear bunker.

Machi deposited $225,000 USDC into HyperLiquid, increasing a 25x long position in ETH and opening a 10x long in HYPE, with total leveraged positions reaching $20.8 million.

World Liberty Financial rotated $8 million from Bitcoin to Ethereum, selling 93.77 WBTC to acquire 2,868 ETH at an average price of $2,813, reflecting a strategic shift amid regulatory optimism.

Events to Watch

Jan 28 (Wed)

Jan 28 (Wed)

Jan 28 (Wed)

Jan 30 (Fri)

Feb 1 (Sun)

III. Phemex Market Focus

New Listings

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