Rewards Hub I. Crypto Market Overview
Key Takeaways
1.
Macro Environment
US Treasury yields and Eurozone bond yields have risen on fiscal concerns, tightening global financial conditions and dampening crypto risk appetite. The US labor market remains strong, reducing expectations for imminent Fed rate cuts and supporting a firm dollar. Meanwhile, the UK and EU have implemented stricter crypto tax reporting rules, increasing compliance burdens and transparency for investors.
2.
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 ETF outflows and weak risk sentiment. Meme coins led losses, as PEPE dropped 11.16%, FLOKI fell 11.10%, while SPX6900 bucked the trend, rising 12.47% on strong social momentum. Altcoins overall underperformed, with risk-off flows dominating.
3.
Today's Outlook
No major token unlocks or high-impact crypto events are scheduled for January 3, 2026, based on available token unlock calendars. Market focus remains on macroeconomic data and risk sentiment, with volatility likely to persist amid ongoing ETF flows and regulatory developments.
Fear and Greed Index
40.00% Annual Percentile
34 Neutral
Total Crypto Market Cap
$3.08T
Total Market Trading Volume
$117.90B
Altcoin Season Index
75.00%
Quarterly Percentile
21 / 100
Total Futures Market Open Interest
2.59B
Futures
855.64B
Perpetuals
II. Industry Updates
Macro-economic Policies
1.
The US 10-year Treasury yield surged to 4.35% as 2026 began, driven by fiscal expansion and resilient labor data, increasing risk-off sentiment and pressuring Bitcoin and DeFi liquidity.
2.
US national debt reached a record $38.5 trillion, intensifying concerns over fiscal sustainability and potentially fueling volatility in crypto markets as investors hedge against fiat debasement.
3.
Eurozone government bond yields rose on the first trading day of 2026 amid record debt supply expectations, signaling tighter financial conditions that may reduce risk appetite for crypto assets.
4.
The US labor market remains robust with low jobless claims, reducing expectations for imminent Fed rate cuts and sustaining a strong dollar, which could limit upside for Bitcoin and altcoins.
5.
Liquidity concerns surfaced in the latest Fed minutes, with policymakers planning short-term Treasury purchases to maintain ample reserves, a move that could indirectly support CRYPTO market liquidity.
Cryptocurrency Regulatory Trends
1.
SEC Commissioner Caroline Crenshaw, known for her critical stance on crypto, has resigned, leaving the SEC with an all-Republican lineup. This political shift is expected to accelerate a more industry-friendly regulatory approach, potentially boosting market confidence and easing compliance for crypto firms.
2.
The UK has implemented new HMRC rules from January 1, 2026, requiring crypto exchanges to report user account details and transactions for tax purposes. This move increases transparency and may deter tax evasion, impacting investor behavior and compliance costs.
3.
The US and EU have introduced stricter crypto tax reporting frameworks for 2026, mandating automatic data sharing between exchanges and tax authorities. These measures aim to close tax loopholes and align crypto with traditional financial regulations, likely increasing operational burdens for platforms.
4.
Turkmenistan's new crypto mining law took effect on January 1, 2026, legalizing mining and exchanges under central bank oversight. While this opens the market, strict controls and licensing may limit rapid growth, but it signals cautious regulatory acceptance in the region.
5.
The UK Financial Conduct Authority and US SEC have both scaled back aggressive enforcement, closing numerous investigations and focusing on high-impact cases. This regulatory shift may encourage innovation but raises questions about long-term market oversight and investor protection.
Trending Tokens
3.
Floki Inu (FLOKI): FLOKI rose 10.81% in the last 24 hours, outperforming other meme coins, with the rally attributed to increased speculative demand and positive sentiment in the meme sector.
Smart Money Movements
2.
Tether acquired $779 million in Bitcoin, increasing its holdings to over 96,000 BTC and solidifying its position among the top five largest Bitcoin holders globally as of January 2.
Events to Watch
Jan 5 (Mon)
China's RatingDog PMI and US ISM Manufacturing PMI data will be released; Theta Network TDROP 2.0 governance vote reallocates 4B TDROP for staking incentives.
Jan 6 (Tue)
US ISM Non-Manufacturing PMI and Nonfarm Payrolls reports for December to be released; Hyperliquid will unlock 1.2M HYPE tokens as part of its monthly distribution.
Jan 7 (Wed)
Stellar Protocol X-Ray launches testnet for ZK privacy apps; Eurozone flash December HICP inflation data to be published.
Jan 9 (Fri)
US Non-Farm Payrolls and job report for December to be released, providing key insights into labor market and Fed policy outlook.
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