Daily market data review and trend analysis, produced by PANews.

1. Market Observation

With the US market closed for Martin Luther King Jr. Day, global market focus was on geopolitical tensions. US President Trump announced a 10% tariff on eight European countries, including Denmark and Norway, starting February 1st to push forward with the acquisition of Greenland, with plans to raise the tariff to 25% on June 1st. Trump stated that the tariffs would remain in effect until a deal for the "complete acquisition of Greenland" was reached. This move drew strong condemnation from several European countries, who called it "blackmail" and threatened retaliatory measures, exacerbating market concerns about a new round of trade war and rapidly increasing risk aversion. As a result, spot gold prices rose more than 2% intraday, hitting a new all-time high of $4690 per ounce; spot silver rose even more, exceeding 4% at one point, also reaching a record high of $94 per ounce. Bank of America's chief investment strategist, Michael Hartnett, believes that Trump is pushing for global fiscal expansion, creating a "new world order = new world bull market," which will continue the bull market for gold and silver. Gold's long-term target is expected to break through $6,000, but the biggest risk lies in the rapid appreciation of the Japanese yen, South Korean won, and New Taiwan dollar, which could trigger a global liquidity crunch. Looking ahead, market attention will be focused on the upcoming US Senate vote on the cryptocurrency market structure bill and the Supreme Court's ruling on the legality of Trump's emergency powers to impose tariffs; these will be key variables influencing market direction.

Bitcoin has fallen for five consecutive days after failing to break through $98,000, breaking below $92,000 this morning and hitting a low of $91,910. Altcoin Sherpa stated that the negative impact of the macroeconomy on the crypto market is significant, believing that Bitcoin may test the lows of the $85,000 range, and that if a reversal does not occur in the next few days, the $80,000 range may become the next target. Doctor Profit maintains that Bitcoin has entered a bear market since its high of $115,000 to $125,000, and that the current consolidation is just a continuation of the downtrend, with the ultimate target being below $80,000. Mister Crypto warns that a drop to $77,000 would trigger $18 billion in long position liquidations.

However, on-chain data and technical analysts remain optimistic. Murphy points out that although short-term holders are exiting at near-panic levels and long-term holders are transferring more to exchanges, this may be a handover for the next round of price increases. Cryptoquant analyst DarkFrost adds that selling pressure from OG holders has significantly weakened, with $101,000 being a key cost resistance level for LTH, while $81,700 is strong support. Technically, Astronomer believes a higher low is forming around $92,200, maintaining a bullish outlook. Sykodelic recommends going long around $92,300, targeting $100,000. Man of Bitcoin points out that as long as key support areas (such as $92,992) hold, Bitcoin can form another high, while World of Charts believes that if it fails to hold, it will fall back to $88,000-$89,000.

Ethereum followed the broader market down below $3,200, with market sentiment oscillating between bullish technicals and weak fundamentals. Ali Charts analysis points out that ETH is at the end of a triangle consolidation pattern on the daily chart and must hold the $3,085 support level. A break above $3,400 could see it reach $3,660 or even $4,000. Glassnode data shows on-chain activity has rebounded, with active addresses doubling and ETFs adding approximately $520 million in holdings since the end of December. Etherealize co-founders Vivek Raman and Danny Ryan are bullish in the long term, predicting ETH could reach $15,000 by the end of 2026. CyrilXBT also believes the ETH/BTC exchange rate is bottoming out and that long-term support is effective. However, short-term risks remain. A Cointelegraph report indicates that professional traders are holding a neutral-to-bearish stance due to declining DApp activity and lower fees, and the derivatives market lacks bullish momentum.

Faced with a complex market environment, renowned trader Eugene stated that he has liquidated his long positions in altcoins and shifted to holding core Bitcoin positions and a large amount of cash. While the altcoin market generally declined, the privacy sector remained resilient. Following Monero (XMR) reaching an all-time high of $800 and DASH reaching a two-month high of $96, DUSK surged over 70% in the past 24 hours, with a monthly gain exceeding 360%. Among DeFi projects, FXS gained attention after completing its brand update on January 15th, exchanging for FRAX at a 1:1 ratio, and saw a 24-hour increase of over 30%. In the meme sector, the market capitalization of FROG, the personal token launched by the founder of Wagyu, experienced a rollercoaster ride, falling from $220 million to $35 million, while Wagyu declared that Fwog.fun would become a platform surpassing its competitor Pump.fun.

2. Key Data (as of 13:00 HKT on January 19)

(Data source: CoinAnk, Upbit, SoSoValue, CoinMarketCap)

• Bitcoin: $92,527.2 (year-to-date +5.5%), daily spot trading volume $37.33 billion.

• Ethereum: $3,280.38 (year-to-date +7.6%), daily spot trading volume $25.28 billion.

• Fear of Greed Index: 49 (Neutral)

• Average GAS: BTC: 1.75 sat/vB, ETH: 0.02 Gwei

• Market share: BTC 59.1%, ETH 12.4%

• Upbit 24-hour trading volume rankings: XRP, AXS, BTC, BRA, ME

• 24-hour BTC long/short ratio: 48.80% / 51.20%

• Sector Performance: Crypto market broadly declined, with the GameFi sector falling over 8%.

24-hour liquidation data: A total of 215,001 people worldwide were liquidated, with a total liquidation amount of $809 million. This included $213 million in BTC liquidations, $139 million in ETH liquidations, and $37.58 million in XRP liquidations.

3. ETF Flows (as of January 16)

• Bitcoin ETF: Net inflows of $1.42 billion last week.

• Ethereum ETF: Net inflows of $479 million last week

• XRP ETF: Net inflow of $56.83 million last week

• SOL ETF: Net inflow of $46.88 million last week

4. Today's Outlook

• Binance Alpha will launch on Acurast (ACU) on January 20th.

• Binance Wallet plans to launch the SENT Pre-TGE Prime Sale on January 19th.

• Trove has rebuilt its DEX on Solana, and the launch date for the TROVE token has been delayed to January 19th.

• MANTRA: Token code change and 1:4 token split to take place on January 19th.

• The ETHGas snapshot is scheduled for January 19th.

• US stock markets will be closed on January 19 (Martin Luther King Jr. Memorial Day holiday).

• LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM on January 20th, representing 6.36% of the circulating supply, with a value of approximately $44.5 million.

• The preliminary estimate of US fourth-quarter GDP will be released soon.

• US President Trump has called for a 10% cap on credit card interest rates, effective January 20, 2026, for a period of one year.

The top 100 cryptocurrencies by market capitalization with the largest gains today are: Decred up 21.4%, Dash up 11.5%, Monero up 5.6%, MYX Finance up 2.8%, and LEO Token up 2.4%.

5. Hot News

• Data: ZRO, RIVER, PLUME, and other tokens will see a large unlock next week, with ZRO unlocking value estimated at approximately $44.5 million.

• This Week's Preview | US Senate Agriculture Committee Releases Cryptocurrency Market Structure Bill; Aster Launches Second Season of its Human-Machine Trading Competition

• A whale liquidated its ASTER and other assets, incurring a loss of $4.21 million, and reopened a 25x long position in ETH.

• Avalanche's active addresses have reached a new high, with daily active users surging by 986% to 1.71 million.

• Aster has implemented an automatic buyback mechanism, using 20%-40% of its daily revenue to buy back $ASTER.

• The Trump Token team deposited 381,000 Trump tokens, worth $2 million, into Binance.

• An ancient whale that accumulated 5,000 BTC 12 years ago sold 500 BTC again, making a total profit of $260 million.

• The "insider who shorted after the 1011 flash crash" has increased his ETH long positions after a month, bringing his total holdings to $736 million.