Crypto Market Slides: BTC and ETH Drop Sharply as Risk Sentiment Weakens

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve is expected to hold rates steady after weak US jobs data, supporting a stable macro backdrop. The US dollar has strengthened, increasing volatility in crypto pairs as investors await key policy decisions. Upcoming US CPI and PPI releases are set to influence inflation expectations and crypto market sentiment.

Crypto Market

The crypto market saw broad declines over the past 12 hours, with Bitcoin down 4.43% to $97,474 and Ethereum falling 9.27% to $3,144.86, pressured by weak risk sentiment and ETF outflows. XRP dropped 8.61% to $2.26, while Maple Finance (SYRUP) bucked the trend, rising 1.29%. Most altcoins underperformed, with only select tokens showing resilience amid sector rotation.

Today's Outlook

No major token unlocks or high-impact events are scheduled for today. Market participants remain focused on upcoming US macroeconomic data and regulatory developments, which are expected to drive volatility and set the tone for digital asset performance in the near term.

Fear and Greed Index

0.00% Annual Percentile

40 Neutral

Total Crypto Market Cap

$3.09T

0.15%

Total Market Trading Volume

$45.23B

53.41%

Altcoin Season Index

63.64%

Quarterly Percentile

34 / 100

Total Futures Market Open Interest

2.64B

16.38%

Futures

600.73B

9.83%

Perpetuals

II. Industry Updates

Macro-economic Policies

The probability of a Federal Reserve rate hold at the January FOMC meeting surged to 97.2% after weaker-than-expected December jobs data, reducing immediate rate cut expectations and supporting a stable macro environment for crypto assets.

The US dollar strengthened following the soft December payrolls report, as markets anticipate no near-term Fed rate changes; this has led to increased volatility in BTC/USD and other crypto pairs due to shifting interest rate differentials.

Bitcoin is consolidating around $90,000 as investors await key US macro policy decisions, including Federal Reserve leadership and tariff rulings, with policy uncertainty dampening risk appetite and limiting upside momentum in digital assets.

Upcoming US economic data releases, such as the December CPI and Core CPI on January 13, are expected to provide critical signals for inflation and interest rate trajectory, directly impacting crypto market sentiment and DeFi liquidity flows.

Cryptocurrency Regulatory Trends

Tether has registered the Hadron trademark in Russia, securing exclusive rights for blockchain financial services, crypto trading, and payment processing, signaling regulatory acceptance and potential market expansion.

The Russian government confirmed that all pensions and social welfare will be paid only in rubles, clarifying that crypto assets and mining income are subject to tax oversight, limiting crypto's integration into public finance.

Malaysian police seized 41 crypto mining devices in Teluk Intan, citing violations of property and electricity laws, reflecting ongoing regulatory crackdowns on illegal mining operations and their impact on local crypto activity.

The U.S. experienced $240 million in crypto ATM scam losses in H1 2025, prompting Spokane to ban crypto ATMs and other states to consider similar measures, increasing regulatory scrutiny and potentially reducing crypto accessibility.

Tether partnered with the UNODC to enhance cybersecurity and promote safe crypto use in Africa, focusing on education and anti-fraud initiatives, which may improve regulatory perception and foster broader adoption in emerging markets.

Maple Finance（SYRUP）：SYRUP rose 1.29% in the past 24 hours, outperforming the market as most top gainers posted negative returns. No major news catalyst identified, but positive momentum persists amid overall market weakness.

Smart Money Movements

TRM Labs reported that Iran's Islamic Revolutionary Guard Corps moved $1 billion via UK-registered crypto exchanges Zedcex and Zedxion since 2023, primarily using USDT on Tron, representing 56% of the exchanges' total volume.

Brighty, a Lithuanian crypto platform, facilitated over 100 real estate transactions in Europe for high-net-worth clients, with individual crypto payments ranging from $500,000 to $2.5 million and average monthly spending of $50,000 per client.

A whale deposited 26,000 ETH, valued at $80.16 million, into Bitstamp; the ETH was originally acquired at $660 per coin, resulting in a realized profit of approximately $63 million and a 367% ROI.

An Ethereum OG deposited over 40,000 ETH, worth $124 million, to Bitstamp in the past two days, reducing their holdings to 26,000 ETH valued at $80.15 million, after initially acquiring 154,076 ETH at $517 each.

A whale accumulated 410,183 LINK tokens, worth $5.41 million, from Binance over two days, following a previous liquidation of 790,000 LINK ($10.95 million) to Coinbase earlier this week.

Events to Watch

Jan 13 (Tue)

Cheelee will unlock 20.81 million tokens, potentially impacting market liquidity and token price volatility.

Jan 15 (Thu)

US Senate Banking Committee to hold markup on CLARITY Act for digital asset regulation; US to release Initial Jobless Claims, NY Empire State and Philadelphia Fed Manufacturing Indexes; Bank of Korea to announce monetary policy decision.

Jan 16 (Fri)

Monad Blitz event in Shenzhen will promote the Monad blockchain and foster community engagement in Asia.

III. Phemex Market Focus

New Listings

Jan 10: (ZAMA/USDT)

Support for ZAMA/USDT pre-market futures with up to 20x leverage

Jan 09: (DN/USDT)

Introduction of DeepNode (DN) to the Phemex Spot Market

Jan 08: (FHE/USDT)

Support for FHE/USDT futures with up to 20x leverage

Jan 07: (WHITEWHALE/USDT)

Support for WHITEWHALE/USDT futures with up to 20x leverage

Jan 06: (ZIG/USDT)

Introduction of ZIGChain (ZIG) to the Phemex Spot Market

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