Dash and ICP Lead Crypto Surge as Senate Reviews US Crypto Bill

I. Crypto Market Overview

Key Takeaways

Macro Environment

US December CPI held steady at 2.7%, prompting the Fed to maintain rates and dampen expectations for near-term easing. The Senate Banking Committee is reviewing a major crypto market structure bill, increasing regulatory uncertainty. The S&P 500 nears 7,000 as strong earnings and stable inflation boost risk sentiment, indirectly supporting crypto markets.

Crypto Market

The crypto market saw mixed performance over the past 12 hours. Bitcoin (BTC) rose 1.16% to $96,532, while Ethereum (ETH) dipped 0.11% to $3,326.49. DASH (DASH) surged 41.5% to $83.13, Internet Computer (ICP) jumped 33% to $4.73, and Monero (XMR) gained 11.6% to $748.21, driven by renewed privacy coin interest and supply shocks. Privacy and utility tokens led gains, with strong volumes and event-driven momentum.

Today's Outlook

Key events today include the Senate Banking Committee's review of the 2025 crypto market structure bill, which may drive volatility. Major token unlocks are scheduled for SEI Network (55.56M SEI), Connex Social (1.32M CONX), and others like HYPE, APT, and ENA, potentially impacting liquidity and price dynamics.

Fear and Greed Index

0.00% Annual Percentile

52 Neutral

Total Crypto Market Cap

$3.27T

0.68%

Total Market Trading Volume

$151.26B

7.42%

Altcoin Season Index

54.55%

Quarterly Percentile

30 / 100

Total Futures Market Open Interest

3.88B

19.54%

Futures

603.75B

8.15%

Perpetuals

II. Industry Updates

Macro-economic Policies

Federal Reserve officials signal a pause in rate cuts at the January meeting, citing persistent inflation and economic resilience; this stance supports a stronger USD and may limit near-term BTC and DeFi liquidity expansion.

The CME FedWatch tool shows a 95% probability that the Fed will keep interest rates unchanged in January, reducing expectations for immediate monetary easing and potentially dampening speculative flows into crypto assets.

US December CPI data confirms inflation at 2.7% year-on-year, reinforcing the Fed's cautious approach; stable inflation may delay further rate cuts, impacting risk appetite and crypto market volatility.

JPMorgan projects continued growth in institutional crypto inflows for 2026, driven by macroeconomic stability and digital asset adoption, which could enhance BTC price support and DeFi TVL growth.

The S&P 500 approaches the 7,000 milestone as cooling inflation and strong earnings boost risk sentiment, indirectly supporting crypto market confidence and capital inflows.

Cryptocurrency Regulatory Trends

The U.S. Senate Banking Committee is reviewing a major crypto market structure bill with over 130 amendments, potentially reshaping regulatory oversight, stablecoin yield rules, and DeFi compliance. Market participants expect increased volatility and uncertainty until the bill's direction is clear.

US community banks are urging Congress to close a loophole in the GENIUS Act that allows exchanges to offer stablecoin rewards, fearing deposit outflows and increased competition with traditional banks. This could impact stablecoin liquidity and banking sector stability.

The SEC has officially closed its investigation into the Zcash Foundation without enforcement action, signaling a more lenient regulatory approach toward privacy coins and boosting investor confidence in compliant privacy-focused projects.

Russia has finalized a draft bill to legalize cryptocurrency trading, aiming to integrate digital assets into its financial system with clear limits for retail investors. This move could expand crypto adoption and cross-border payment options in Russia.

Coinbase CEO has withdrawn support for the current Senate crypto bill, citing concerns over DeFi restrictions, stablecoin yield limits, and increased regulatory burdens. This highlights industry pushback and ongoing debate over the future US crypto regulatory framework.

DASH (DASH): DASH surged 41.5% in 24h to $83.13, driven by renewed privacy coin interest, a major partnership with Alchemy Pay, and network activity spike. Trading volume exceeded $1.15B.

Internet Computer (ICP): ICP jumped 33% in 24h to $4.73, fueled by the imminent Mission70 white paper release, which proposes a 70% reduction in new token issuance, creating a supply shock.

Monero (XMR): XMR rose 11.6% in 24h to $748.21, hitting an all-time high amid surging demand for privacy coins following Dubai's ban on privacy tokens and increased regulatory scrutiny.

Smart Money Movements

Strategy acquired $1.3 billion in Bitcoin between January 5-11, raising its total holdings to $66 billion and driving BTC above $95,000.

Bitmine staked an additional 154,304 ETH, valued at $519.76 million, bringing its total staked Ethereum to 1,685,088 ETH worth $5.65 billion.

Ten whale wallets collectively acquired 201,000 ETH, worth $855 million, during a period of $71 million in Ethereum liquidations as the price dipped below $4,000.

A whale swapped 282.17 BTC (about $26.33 million) for 8,098 ETH in a single transaction, reflecting significant asset reallocation among major holders.

A prominent crypto whale closed a $14.49 million long position and opened $35 million in 20x leveraged short positions on BTC, ETH, and SOL, signaling a bearish outlook.

Events to Watch

Jan 15 (Thu)

Senate Banking Committee to review 2025 crypto market structure bill; Sei Network ($SEI) unlocks 55.56M tokens; Connex Social ($CONX) unlocks 1.32M tokens; major token unlocks for HYPE, APT, ENA.

Jan 16 (Fri)

Fluent's First Press NFT sale Tier 2 opens at 9 AM EST (0.3 ETH); TenX Protocols joins AlphaNorth Capital Event in Bahamas; U.S. International Investment Position data released.

Jan 17 (Sat)

Ondo (ONDO) token unlock worth $774M; BitcoinDay Naples 2026 event; Nervos Network Rosen Bridge vote.

Jan 18 (Sun)

ONDO unlocks 1.94B tokens ($802.73M); eCash hosts 'Digital Gold Talk' event.

Jan 19 (Mon)

Fluent's First Press NFT sale Tier 3 opens at 9 AM EST (0.4 ETH); China Q4 2025 GDP data released; Canada CPI data released; Sunflower Land 2026 event.

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