Market Signal Briefing

Bitcoin (BTC) and Stellar (XLM) both declined 0.1% from Wednesday.

Pi Network price has staged a strong comeback in the past few days, paring back some of the losses it made earlier this week.

Summary

Pi Network price has rebounded by 23% from its lowest point this week. The rebound coincided with that of Bitcoin and other cryptocurrencies. Technical analysis suggests that the token has more downside. Pi Coin (PI) token rose to $0.1870, up by 23% from its lowest level this week, bringing its market capitalization to over $1.5 billion. Its daily trading volume was $16 million, relatively higher than its recent averages.

Why Pi Coin price has rebounded Pi’s rebound has mirrored the performance of other coins that have risen after falling earlier this week. Bitcoin (BTC) has moved back to $90,000, while the market capitalization of all coins moved back to $3 trillion. 

The coin also rallied after Donald Trump delivered his speech at the World Economic Forum in Davos. In that speech, he ruled out using force in Greenland. In a separate statement, he said that the US had reached a deal on the semi-autonomous state. 

Pi Network price also rose after the developers unveiled a new update that will help developers to integrate payments to their applications. It launched a new library that combines the Pi SDK and backend APIs that will enable developers to enable Pi payments in minutes.

However, Pi Network’s recovery faces some major technical and fundamental risks. For example, Pi’s ecosystem is still not as active as that of other chains like Ethereum and Solana. Its token unlocks are continuing, with over 1.2 billion expected to come online in the next 12 months. 

Additionally, Pi has not received any tier-1 exchange listing since its mainnet launch, making it unavailable to millions of potential customers. It is also one of the most centralized cryptocurrencies in the industry, with the Pi Foundation holding billions of coins in hundreds of wallets.

Pi Network price technical analysis Pi Coin price chart | Source: crypto.news The daily chart shows that the PI Network price crashed to a record low of $0.1520 earlier this week. It then formed a double-bottom pattern, a common bullish reversal sign. It also formed a hammer candlestick, which is made up of a long lower shadow and a small body.

However, the coin could be at risk of more downside as it is about to retest the key resistance level at $0.1933, its lowest level on December 16. A break-and-retest is a sign of bearish continuation.

Pi Coin price has remained below all moving averages and the Supertrend indicator. Therefore, the most likely scenario is where the token resumes the downtrend, potentially to the all-time low of $0.1520.

Macro researcher and FFTT founder Luke Gromen warned that retail investors should not expect institutional investors to run Bitcoin to $150k. He made the case during an interview with Natalie Brunell, an episode of Coin Stories published on YouTube on Wednesday.

Gromen stated, “If you’re counting on institutional investors to run it from you know 90 to you know 150, if that’s your plan, that’s probably not going to happen without some major catalyst.” He added that this is not how institutional investors act, noting that they will likely wait patiently.

Gromen argues against institutions lifting Bitcoin to $150,000 Currently, Bitcoin is trading at $89,833, up 0.7% from the previous day and down 7.4% in the last 7 days. Data from CoinMarketCap reveal that a rise from the current price of $89,833 to $150,000 would be a 67% increase, and 18.86% above the asset’s all-time high of $126,198.

For this to happen, Gromen claimed, “At the very least, that suggests there’s a whole lot of wood to chop for Bitcoin.”

According to him, there’s a possibility that Bitcoin “could easily” reach $60,000 instead of rising to $150k. He cited the notion of an “all-out trade war,” the U.S. becoming isolated from the rest of the world, or even a recession as scenarios that may prompt large Bitcoin sell-offs and depress institutional interest. 

Gromen also phrased the question of what will happen to the cash flow of those institutions, “Do they have to turn sellers? Are the treasury companies of this cycle the forced sellers as we saw around FTX in 2022?” He went on to say that if treasury companies were compelled to sell, the market could become overstocked.

According to Gromen, Bitcoin has entered a “bear market priced in gold,” signaling a larger capital rotation he claimed is similar to past trends in the 1930s, the early 1970s, and 2002. He pointed out that Bitcoin was performing poorly as investors turned to safe assets like gold, unlike traditional assets. 

He said that although Bitcoin had the potential to act as a decentralized, trustless monetary system, speculative flows and wider market rotations continued to have a significant impact.

He also emphasized that Bitcoin’s decentralized and permissionless structure had given it a distinct position in a world where international trust was eroding. However, the majority of investors favored traditional assets, which prevented Bitcoin from reaching its full potential as a substitute for global reserves.

Gromen also disclosed that he had personally sold part of his Bitcoin. According to him, this strategy prioritized financial independence over potential Bitcoin profits, allowing him to pursue other high-potential assets in the years to come.

He stated that he preferred to retain a combination of assets, including gold, cash, and Bitcoin-like substitutes, to manage risk, despite Bitcoin’s long-term potential. According to Gromen, investors may prefer stability and optionality over pursuing high profits in an increasingly unpredictable world.

Institutional demand could boost the Bitcoin price in 2026 Participants in the cryptocurrency market often interpret increased institutional interest as a sign that prices may rise soon. “Institutional demand for Bitcoin remains strong,” Ki Young Ju, CEO of CryptoQuant, stated on Wednesday. Ju cited the 577,000 Bitcoins, or around $53 billion, that institutional funds have purchased in the last year. He repeated, “Still flowing in.”

In December of last year, asset management firm Grayscale predicted that Bitcoin would reach new all-time highs in the first half of 2026, citing institutional demand and more transparent US regulations as the primary drivers. The firm pointed out that the rise will also coincide with the end of the supposed Bitcoin four-year cycle.

“We expect rising valuations in 2026 and the end of the so-called ‘four-year cycle,’ or the theory that crypto market direction follows a recurring four-year pattern. Bitcoin’s price will likely reach a new all-time high in the first half of the year,” Greyscle said in a statement.

Grayscale stated macroeconomic tailwinds and increased regulatory clarity will fuel the demand for rare assets like Bitcoin ($BTC) and Ethereum ($ETH) this year. 2026 may be the year digital assets enter their institutional era.

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Posted: January 22, 2026

While the broader crypto market remained under pressure, gaming tokens stayed relatively insulated and posted strong gains.

The sector recorded a monthly weighted average increase of roughly 40%, with AXS among the top performers.

Axie Infinity’s [AXS] recent rally erased losses accumulated since the 12th of September 2025, pushing many holders back to break-even. However, momentum indicators suggested the advance may be nearing exhaustion, raising pullback risk.

Investor positioning raises caution Investor positioning in AXS grew increasingly aggressive during the rally. That shift raised questions about the uptrend’s durability.

At press time, the Relative Strength Index (RSI) moved back above 70, placing AXS in overbought territory. Such conditions historically preceded short-term price tops rather than sustained breakouts.

The TradingView chart showed RSI remained elevated as price accelerated. That divergence increased the probability of near-term mean reversion.

Source: TradingView

That said, downside risk appeared contained for now. The Accumulation/Distribution indicator dipped modestly but stayed firmly positive.

This suggested selling pressure increased, yet broader market structure remained supportive. Any pullback would likely remain corrective unless accumulation weakened further.

Spot investors pull back Spot market activity offered one of the clearest signals of shifting sentiment, with capital beginning to exit the market.

Exchange Netflows showed Spot traders sold roughly $91,000 worth of AXS over the past 24 hours.

That marked a clear shift from the steady buying observed during the recent advance. Spot participants often provide structural support, making their retreat notable.

Source: CoinGlass

On top of that, trading activity slowed sharply. CoinGlass data showed volume fell 21% to about $2 billion, a decline exceeding $400 million.

When price advances on falling volume, it often signals weakening momentum. Historically, such conditions have preceded either consolidation or corrective price moves.

Derivatives market signals divergence Derivatives data presented a mixed picture. The Taker Buy/Sell Ratio showed that bullish sentiment still dominated in the perpetual Futures market, with taker buy orders outweighing sell orders.

However, funding data told a different story. The OI-Weighted Funding Rate turned decisively negative, signaling that short positions outweighed longs.

Source: CoinGlass

CoinGlass data showed the metric printed -0.1286% at press time. That meant bearish traders paid funding to maintain exposure.

If negative funding persisted alongside softening spot demand, downside pressure could build. That alignment would increase the risk of a deeper corrective phase for AXS.

Final Thoughts Axie Infinity (AXS) erased post-September losses as gaming tokens outperformed, lifting the price back toward key resistance. Overbought RSI, weakening spot demand, and negative OI-Weighted Funding Rate suggest momentum may fade near-term.

In brief 21Shares launched the first spot DOGE ETF backed by the Dogecoin Foundation on Thursday. The product will initially target younger and affluent mainstream investors, the president of 21Shares said. It is the third spot DOGE ETF to enter the U.S. market, following products launched by Bitwise and Grayscale. The Dogecoin Foundation has officially gone Wall Street.

A spot Dogecoin ETF backed by the organization began trading in traditional financial markets this morning, launching on the Nasdaq under the ticker TDOG. The product will allow retail and institutional investors to gain exposure to the world’s first meme coin—without relying on self-hosted wallets or crypto exchanges.

The Dogecoin Foundation is a nonprofit that has overseen Dogecoin’s decentralized development and supported the token’s community since 2014. While two other spot DOGE ETFs previously launched in November—one from Grayscale, the other from Bitwise—today’s, issued by 21Shares, is the first and only to have gained the endorsement of the token’s foundation.

It is, further, the first spot Dogecoin ETF to have gained the approval of the SEC. The Grayscale and Bitwise ETFs launched in November, immediately following the U.S. government shutdown, and went live via an automated process that did not involve explicit agency approval. Earlier this month the SEC greenlit the 21Shares DOGE ETF, effectively concluding that Dogecoin is not a security for the first time.

Duncain Moir, president of 21Shares, told Decrypt he expects the product will appeal principally to younger, affluent traders who want some crypto exposure, but invest broadly and rely on a traditional broker.

“I do expect the younger generation, which has spent a little bit of time looking at crypto, is now looking at what's next,” Moir said.

After Bitcoin and Ethereum’s successes on Wall Street, Moir is confident Dogecoin could be next in line. The token has a massive online following, a $21 billion market cap, and a distinctively positive fanbase—a one-of-a-kind combination for crypto, he said.

The ETF’s rollout also comes as part of a broader push by House of Doge—the relatively new corporate arm of the Dogecoin Foundation, backed by Elon Musk’s personal attorney, Alex Spiro—to evolve Dogecoin from an intentionally utility-less meta joke to a global payment rail.

21Shares is a fan of that more adult-sounding pitch for Dogecoin, and has adopted it as well. But that doesn’t mean the company hasn’t received some skepticism as it rolls out institutional and retail access to the world’s first meme coin. Muir, though, said he doesn’t mind the pushback.

"If nobody was skeptical," he said, "it wouldn't be as interesting an investment product in the first place."

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Officers in South Korea’s Gwangju District Prosecutors’ Office are investigating the disappearance of a “significant” amount of bitcoin seized in a criminal case, after an internal review flagged a possible loss during state custody, according to a translated version of a Yonhap News report on Thursday.

Per the report, prosecutors believe the bitcoin was lost around the middle of last year during the storage and management process, with a phishing incident cited as a likely cause.

Prosecutors declined to confirm the size or valuation of the missing holdings and declined to provide further details, citing the ongoing investigation, the report said.

The Gwangju District Prosecutors’ Office has previously handled large-scale crypto seizure cases. In March 2024, the office sought to recover roughly 170 billion won ($127 million) worth of bitcoin tied to an illegal gambling operation, according to a separate local report.

Legal framework for confiscation The institutionalization of bitcoin confiscation in South Korea dates back to 2018, when the Supreme Court first ruled that cryptocurrencies are intangible assets with property value subject to the Criminal Procedure Act.

That landmark decision enabled the state to seize 191 BTC from a convicted child pornography website operator, an asset haul valued at approximately $2.3 million at the time. This ruling provided the legal mechanism for the state to treat digital tokens as "evidence or items subject to confiscation," provided they are relevant to a criminal case.

Further expanding this reach, the Supreme Court issued a new ruling on Dec. 11 of last year, local media reported, confirming that bitcoin held on centralized exchanges such as Upbit and Bithumb is also subject to seizure.

The case stemmed from a January 2020 police seizure of over 55 BTC from an exchange account during a money laundering investigation, a move that was ultimately upheld after a series of appeals.

The court said bitcoin constitutes electronic information with independent economic value and is therefore subject to seizure by investigative authorities.

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© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Key NotesNasdaq wants the US SEC to remove exercise limit restrictions on options trading on crypto ETFs.BlackRock’s IBIT and ETHA will be impacted positively, among other funds.Institutional bet on crypto is growing, with Strategy expanding its BTC position. Nasdaq has asked that the United States Securities and Exchange Commission (SEC) lift the restrictions on several Bitcoin BTC $89 261 24h volatility: 0.5% Market cap: $1.79 T Vol. 24h: $52.25 B and Ethereum ETH $2 956 24h volatility: 0.8% Market cap: $358.21 B Vol. 24h: $33.00 B ETFs. Precisely, it is requesting approval to remove the 25,000 position and exercise limit restrictions on options trading on these cryptocurrency funds in question.

Nasdaq Bitcoin and Ethereum ETF Proposal: Who Benefits? The filing with the US SEC is dated Jan. 21. This move, if approved by the regulator, would impact options on BlackRock’s iShare Bitcoin Trust ETF (IBIT) and its Ethereum ETF counterpart (ETHA).

Grayscale, Bitwise, Fidelity, ARK21Shares, and VanEck ETF options limit will also increase in the long run.

Every one of these crypto ETFs will be subject to the standard position limits outlined in the Nasdaq Options Market rules. This will sync them with other existing ETF options. To boost its argument for the removal, Nasdaq noted that the proposal promotes ‘just’ and ‘equitable’ principles of trade. The stock market also claimed that it prevents unfair discrimination and supports a free and open market.

This is achieved by ensuring consistent regulatory treatment. Moreso, it does not impose any significant burden on competition while protecting investors. This is because similar changes are expected to show up across other options exchanges. In addition, Nasdaq requested that the securities agency waive the standard 30-day delay and make the proposal effective immediately.

In the meantime, the SEC is seeking comments, with the end of February marked as the scheduled period for a decision.

BlackRock and Strategy Expands Bitcoin Exposure Meanwhile, BlackRock has been increasing its BTC stash, likely leveraging the current selloff.

At the beginning of January, BlackRock added 9,619 Bitcoin, worth about $878 million at the time, and 46,851 Ethereum, equivalent to $149 million, across three straight days. According to on-chain tracking firm Lookonchain, the combined acquisition was worth roughly $1.03 billion.

In line with related institutional Bitcoin purchases, business intelligence software firm Strategy bought 22,305 BTC for approximately $2.13 billion between Jan. 12 and 19. As a result of this acquisition, the company’s total holdings currently stands at 709,715 BTC.

This represents roughly 3.38% of Bitcoin’s total 21 million supply.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Godfrey Benjamin on X

The world breathed a small, collective sigh of relief on Wednesday when US President Donald Trump said he would not use force to take over Greenland during a rambling, hour-long speech to a crowd of world leaders in Davos.

Trump argued why the US should rightly own Greenland, ostensibly as a bulwark against Russian or Chinese influence in the region. However, he walked back some worrying rhetoric about military action, stating that he would not use force to take over Greenland, which itself is an autonomous region of Denmark. He scrapped plans to use tariffs to pressure allies to go along with his acquisition plans.

Indeed, he walked away from Davos with a supposed “framework of a future deal.” Bitcoin (BTC) responded positively to the news, bumping up from around $87,000 to $90,000 as the evening came to a close.

Amid the geopolitical tensions that have been escalating over the last month, some analysts increasingly note the effect it has on Bitcoin’s price.

Bitcoin’s price dipped amid Greenland concerns on Jan. 21. Source: CoinMarketCapTrump’s Greenland plans show Bitcoin is very much risk-onSince the beginning of the year, the White House ramped up threats of taking over Greenland. Doing this by force would essentially be declaring war on Denmark, a fellow NATO member.

Trump further threatened additional 25% tariffs on countries that opposed his plans to acquire Greenland. In personal messages Trump later published to social media, French President Emmanuel Macron said, “I do not understand what you are doing on Greenland.”

Bitcoin’s price didn’t either. It sank from around $110,000 at the beginning of November 2025 to below $90,000 by Nov. 21. Since then, it has struggled to break $90,000. In the last week, Bitcoin fell from $96,000 to $88,000.

Chris Beauchamp, chief market analyst at investing and trading platform IG, wrote in a newsletter on Jan. 19, “Cryptocurrencies offered no haven from the wave of selling that washed over global markets in response to Trump’s threat.”

He said that “Bitcoin’s run at $100K was stopped in its tracks last week, and while the $90,000 level has yet to be tested it looks like the recovery is on pause for now.” The Greenland situation added to “what was an already busy week,” with major crypto exchange Coinbase withdrawing its support from a crypto framework bill. 

“Markets are waiting to see if the EU goes for a tough response that may simply escalate the situation, or opts for a back-channel approach,” he said.

It seems that cooler heads have prevailed, at least for now. Trump noted the framework for a partnership in a Truth Social post yesterday:

Source: Donald TrumpDanish Foreign Minister Lars Løkke Rasmussen wrote on X, “The day is ending on a better note than it began. We welcome that POTUS has ruled out to take Greenland by force and paused the trade war. Now, let’s sit down and find out how we can address the American security concerns in the Arctic while respecting the red lines of the [Kingdom of Denmark].”

But Nigel Green, CEO of deVere Group, said that, for markets, “a negotiated pause could limit immediate disruption, but uncertainty would persist because leverage has been established.”

“Transatlantic trade underpins confidence across global supply chains. Disruption there feeds into investment decisions, currency stability, and diplomatic alignment worldwide.”Greenland and global markets, including Bitcoin, may not be out of the woods yet.

Tariffs, the “trade bazooka” and big deals on pauseCertain trade agreements have already been cancelled as a result of the belligerent rhetoric coming from Washington. On Jan. 21, the European Parliament cancelled a trade deal that had been in the works since July.

The agreement, dubbed the “Turnberry proposals,” would bring down US tariffs on most European goods from 30% to 15%, which were part of Trump’s sweeping “Liberation Day” tariffs. In exchange, the EU agreed to invest in the US and make an effort to increase US imports.

On Wednesday, Bernd Lange, chair of the European Parliament’s International Trade Committee, said, “We have been left with no alternative but to suspend work on the two Turnberry legislative proposals until the U.S. decides to re-engage on a path of cooperation rather than confrontation, and before any further steps are taken.”

Ahead of Davos, Macron had suggested that Europe could respond to American aggression with the “trade bazooka,” a moniker for the EU’s Anti-Coercion Instrument (ACI). The law would take six months for the EU to activate but would effectively shut off European markets from the US. This, in turn, could cost American companies billions of dollars in losses.

Macron addresses the crowd in Davos wearing what Trump described as “big beautiful sunglasses.” Source: Emmanuel MacronTrump may have suspended tariffs for now, but his administration’s policy on the same has been notoriously capricious since the beginning of his second term.

A reescalation of a US-EU trade war could prove a powerful headwind for Bitcoin, as it has previously. On Wednesday, Cory Klippsten, CEO of Bitcoin financial services firm Swan, said, “The biggest drag on Bitcoin price the past year has been tariffs [...] That’s the drag on risk assets in general, and in particular [with] Bitcoin, there’s just uncertainty around what’s gonna happen.”

“If you had Trump being pro-Bitcoin and even just running all the grifts, and emoluments and self-enrichment on the crypto side, but absent tariffs, I still think you would have had a ripping Bitcoin price run in 2025.”Market analyst Kshitiz Kapoor wrote at the end of last year that “macro pressure, tariffs, tightening liquidity, and shifting risk sentiment pulled price back. By year-end, Bitcoin never came close to those targets.”

“Lesson: Markets don’t move on conviction alone. They move on liquidity, positioning, and macro.”Bitcoin has seen increased adoption in several countries over the last year. But as it’s become more accepted in the global financial system, it’s also become more susceptible to the geopolitical factors that influence that system.

Magazine: ‘If you want to be great, make enemies’: Solana economist Max Resnick

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XRP price remains bearish after rejecting from the point of control (POC), with heavy selling pressure building near $1.90. A breakdown below the value area low could target $1.58.

Summary

XRP rejected from POC volume resistance, keeping bearish structure intact Price is consolidating at VAL, but bullish volume remains weak A breakdown opens rotation risk toward $1.58 range low support XRP (XRP) price is showing increasing weakness as selling pressure continues to build after a major rejection from the POC. Since that rejection, price action has struggled to regain bullish traction and has remained capped below key volume-based resistance.

This has left XRP stuck in a fragile consolidation phase near the value area low (VAL), but the structure of the candles suggests bearish control remains intact.

XRP price key technical points XRP remains bearish after rejecting from the Point of Control (POC) Price is consolidating near the value area low, but bullish volume remains weak A breakdown opens downside rotation risk toward the $1.58 range low XRPUSDT (1D) Chart, Source: TradingView The $1.90 region has become a key resistance zone where sellers continue to defend price. This level sits near major volume-based resistance and reflects the area where the market previously failed to reclaim value after the POC rejection.

When price repeatedly fails to push above resistance, it signals that demand is insufficient at higher levels. This creates an environment where buyers become passive and sellers remain dominant. In XRP’s case, the inability to reclaim levels above $1.90 suggests that the market is still in a bearish acceptance zone and that upside attempts are being sold into.

This is exactly how downtrends remain intact. Price doesn’t have to collapse instantly. Often, it grinds lower over time, rejecting key resistance levels while building liquidity beneath support zones.

Bearish candle structure signals weak demand XRP’s recent candle formation is another key clue. Despite consolidating near support, the daily candles have continued closing in a bearish manner without strong recovery signals. This suggests that the market is not seeing aggressive dip buying.

If buyers were stepping in strongly, price would likely show sharp recovery candles, stronger close positioning, and more volume activity to support the bounce. Instead, the market is moving sideways in a weak posture, which often precedes downside continuation.

This type of consolidation is not neutral. It reflects indecision under pressure. When that pressure remains unchallenged by bullish volume, the probability shifts toward a breakdown rather than a reversal.

Capitulation risk builds toward $1.58 If XRP breaks down below the value area low in a sharp way, the move could resemble a capitulation candle. Capitulation moves occur when price drops aggressively as stop losses trigger and liquidity below support is taken out quickly.

In XRP’s case, the next major target becomes the $1.58 range low support, which has acted as a key structural floor in the broader range environment. This range low represents the next high-probability zone where the market may attempt a reactive bounce.

The important detail is that XRP’s range structure remains intact. Price action is still rotating within the range, and the market is currently positioned closer to the lower side of that structure. Without a structural reclaim of resistance, the range rotation favors continuation into the lower boundary.

Market structure remains bearish until resistance reclaims From a market structure perspective, XRP continues to print bearish characteristics. The trend is defined by:

lower highs weak recoveries lack of bullish volume repeated rejections from high-volume resistance As long as XRP remains below the POC and fails to reclaim resistance levels like $1.90, upside continuation remains less likely. The bearish scenario stays dominant until price confirms strength through acceptance above value and volume-backed recovery candles.

Even if XRP bounces temporarily, it would still remain corrective unless the market breaks the lower-high pattern and reclaims key volume levels.

What to expect in the coming price action XRP remains in a bearish consolidation following the rejection from the POC, with selling pressure building at the $1.90 region and bullish volume continuing to fade. The price is hovering near the value area low, but the candle structure suggests weak demand, and downside continuation risk remains elevated.

If XRP loses the value area low on a strong breakdown candle, capitulation risk increases, and a full rotation toward the $1.58 range low support becomes the next major target. If the market holds VAL and buyers return with volume, a short-term bounce is possible, but the broader structure remains bearish until resistance is reclaimed.

Bitcoin long-term holders of two years or more broke records during 2024 and 2025, says a new analysis of the latest bull market.

Bitcoin (BTC) is seeing record selling from old hands — but the trend began far below current prices.

Key points:

Bitcoin long-term holders have beaten records with their sales over the past two years.

Selling behavior this bull market sets it apart from previous ones.

A price cycle and investor “transition” is now underway.

CryptoQuant: Revived BTC supply “stands out”New research from onchain analytics platform CryptoQuant confirms ongoing sales of “significantly older coins” this bull market.

Unspent transaction outputs (UTXOs) involving BTC previously dormant for two years or more have spiked since 2024.

“What stands out is that 2024 and 2025 record the highest annual revived supply from long-term holders in Bitcoin’s history,” contributor Kripto Mevsimi commented alongside an explanatory chart.

Bitcoin revived supply breakdown by age (screenshot). Source: CryptoQuant
The data reveals both 2024 and 2025 rivalling the distribution seen at the end of a previous bull market in 2017, which ended when BTC/USD topped $20,000.

“This is not just a repeat of 2017 or 2021,” Kripto Mevsimi stressed.

“While those cycles saw revived supply rise alongside strong price momentum and speculative inflows, the current revival is happening with lower overall market noise but significantly older coins.” Bitcoin revived supply data (screenshot). Source: CryptoQuant
CryptoQuant argued that long-term holders of Bitcoin are now “reassessing exposure” to the market — and have been ever since price passed the $40,000 mark.

“Early 2026 data does not yet show a full reversal of this trend, but revived long-term supply has moderated compared to the peaks of 2024–2025,” Kripto Mevsimi added about the latest phase of the trend. 

“Whether this represents temporary exhaustion or the start of a new accumulation phase will become clearer as the year progresses.”Bitcoin is undergoing a “transition”As Cointelegraph reported, long-term holders bringing long-dormant coins to market has become a major talking point in recent months.

Bitcoin’s underperformance versus other major asset classes from Q4 2025 onward has, in turn, led to questions about how the coming year might diverge from previous price cycles.

Notably, 2026 is scheduled to be a bear market year, and various forecasts see a return to far lower levels than the current $90,000.

Whether the four-year price cycle even remains valid likewise forms a topic of debate for market participants. 

“Bitcoin is not only undergoing a price cycle, but potentially a transition in who holds it and why—and long-term holder supply behavior is one of the clearest on-chain signals of that shift,” CryptoQuant concluded.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

Key NotesCryptoQuant reports that the Binance Bitcoin Leverage Ratio has hit the highest level since November 2025.Bitcoin’s price has managed to reclaim the $90,000 mark after the recent selloff.Big adoption might shape the overall Bitcoin outlook with a new Steak ‘n Shake program in focus. For the first time since November 2025, the Binance Bitcoin Leverage Ratio has hit the highest level.

According to CryptoQuant analyst Arab Chain, the market is likely in an environment that is prone to liquidations.

This could either be in the presence of rapid upward moves or sudden corrections. Despite this projection, Bitcoin BTC $89 944 24h volatility: 1.5% Market cap: $1.80 T Vol. 24h: $53.48 B is still around $90,000.

Correlation Between High Leverage Ratio and Bitcoin Price Data on the Estimated Leverage Ratio on Binance show a significant increase in leverage within the Bitcoin futures market.

Blockchain analytics platform CryptoQuant took to X to share Arab Chain’s chart, showing Binance’s Bitcoin estimated leverage ratio reaching 0.182.

This comes as Bitcoin’s price nears $90,000, based on CryptoQuant’s on-chain data analysis.

Binance Bitcoin Leverage Ratio Hits Highest Level Since November

“This dynamic suggests that the market has re-entered an environment more susceptible to liquidations, whether during rapid upward moves or sudden corrections.” – By @ArabxChain pic.twitter.com/c6IoGviiBI

— CryptoQuant.com (@cryptoquant_com) January 22, 2026

A higher leverage ratio indicates that a larger portion of traders’ positions is funded through borrowing.

This, on its own, signals an increased appetite for risk, especially among short-term traders and speculators.

Also, it could herald a significant price expansion, tied to the liquidity flow towards the derivatives market.

An accompanying chart showed that the ratio’s spike correlated with recent price rallies from mid-2025.

This highlights how elevated leverage amplifies market volatility and liquidation risks during corrections.

The shift is believed to be a signal of renewed trader confidence after a long, cautious period. At the same time, historical patterns suggest heightened susceptibility to sharp moves, urging caution in leveraged positions.

If Bitcoin continues to consolidate without sharp corrections, the elevated leverage could act as additional fuel for a subsequent upward move.

Conversely, if momentum weakens, the market may undergo further rounds of deleveraging before the broader trend resumes.

Steak ‘n Shake Debut Bitcoin Bonus Program Meanwhile, Bitcoin is gaining traction among more institutional investors, as well as retail investors.

Steak ‘n Shake recently started a Bitcoin bonus program that targets employee retention rather than short-term compensation and does not alter base wages.

Starting March 1, hourly employees will receive a Bitcoin bonus of $0.21 per hour.

According to the management, this structure is designed to reward long-term employment while introducing workers to crypto without altering base pay.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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Rumors about XRP suddenly becoming useless and less relevant appear to be spreading across the crypto market following the introduction of Ripple’s stablecoin, RLUSD. Crypto market analyst XFinanceBull recently took to X to debunk these claims, stating that, rather than being a potential threat, RLUSD was created to complement XRP’s functionality and use cases on the ledger.

Why Ripple’s RLUSD Poses No Danger To XRP  In his post, XFinanceBull revealed that many in the crypto community now see XRP as less useful because of RLUSD. These concerns carry weight given the growing dissatisfaction over XRP’s price struggles. Furthermore, with a stablecoin in place, the perception is that XRP’s use cases could deteriorate, especially given RLUSD’s greater stability. 

Addressing these growing concerns, XFinanceBull emphasized that XRP and RLUSD serve different purposes within the ecosystem. His commentary aims to correct the misconception that RLUSD was introduced to replace XRP. The analyst referenced statements from Ripple’s former Chief Technology Officer (CTO), David Schwartz, who, in a video, clearly explained the distinct roles of XRP and RLUSD, highlighting how the stablecoin benefits the altcoin rather than threatens it. 

According to XFinanceBull, Schwartz stated that RLUSD attracts large, credible flows to the XRP Ledger (XRPL), and this capital provides structural benefits to XRP. The analyst declared that RLUSD does not replace XRP, but instead amplifies its functionality. He added that as liquidity grows through the stablecoin, more payment routes are created, leading to increased XRP burns. 

XFinanceBull also noted that every stablecoin trade within the Ripple ecosystem indirectly drives demand for XRP as a bridge asset. He concluded that the world will eventually realize that utility is not defined by a whitepaper alone, but by real transaction flows. He added that although the XRP price may be declining, its rails are still being built.  

How RLUSD Benefits XRP In the video shared by XFinanceBull, Schwartz stated that RLUSD is designed to benefit XRP. He explained that RLUSD strengthens XRP by introducing more credible assets onto the XRP Ledger, thereby expanding the network’s use cases and creating more opportunities for developers. 

The former Ripple CTO also revealed that adding trusted assets, such as RLUSD, increases trading activity on XRPL’s DEX. According to him, higher trading volume generates both direct and indirect benefits for the decentralized network and its native token, XRP. 

A key advantage of the XRPL DEX is its auto-bridging feature, which uses XRP to facilitate trades between different assets. Schwartz said that this mechanism allows XRP to act as an intermediary, helping users find the most efficient trading routes. He added that RLUSD and XRP are designed to complement each other, given their different roles within the ecosystem. While the stablecoin offers price stability, the altcoin functions as a bridge currency within Ripple’s payment products. This means that as RLUSD usage grows, demand for XRP is reinforced.

XRP trading at $1.95 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Shutterstock, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Forward Industries Price Prediction SOL

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7 minutes ago

SOL may have received its strongest corporate vote of confidence yet, with Forward Industries (FWDI) now betting almost $908 million on bullish Solana price predictions.

The new year has seen fresh capital rotation into altcoins, and SOL is once again proving its worth at TradFi play of choice with fresh institutional demand.

In its latest press release, the Nasdaq-listed company revealed that its treasury holdings have grown by 60,000 SOL since mid-December, now totalling over 6.97 million SOL.

Forward Industries’ SOL Holdings total over 6.97 Million SOL

"Since initiating our Solana treasury strategy in September 2025, we have generated over 133,450 SOL in staking rewards and compounded our SOL-per-share." – Ryan Navi, Chief Investment Officer of Forward Industries… pic.twitter.com/3wddDNgMTc

— Forward Ind. | NASDAQ-$FWDI (@FWDind) January 16, 2026 The report also sheds light on the contribution of Solana-native yield opportunities, crediting 133,450 SOL to staking rewards on existing holdings.

Staking isn’t the limit of their on-chain activity. Forward Industries also noted a corporate milestone, as the first publicly traded company to offer its shares directly on-chain.

This commitment to expanding its Solana-based operations stands as a testament to its infrastructure as the bridge between TradFi and DeFi, as well as its price potential this cycle.

Solana Price Prediction: The Setup FWDI Could Be Betting OnThe choice to accumulate here could be credited to a year-long descending triangle continuation pattern as it approaches its $120 launchpad level.

The 2-year demand zone forming the base of the pattern is being retested again, and with it, there is historical precedent that Solana stands to see another jump higher.

SOL USD 1-day chart – descending triangle pattern retest. Source: TradingView.Momentum indicators support the bullish case. While the RSI has slipped just below the neutral 50 level, the broader uptrend it has established points to an imminent bounce.

The recent MACD death cross could prove short-lived, reflecting consolidation rather than a broader trend reversal.

With a bounce from $120, focus shifts to the level that has capped upside since September at $145. From there, the key breakout threshold sits at $210.

And with that level confirmed as support, a breakout push eyes past all-time highs at $300 for a 300% push into new price discovery targeting $500.

However, as Solana permeates deeper into the mainstream TradFi markets and infrastructure, fresh liquidity and use cases could send the altcoin much higher, eying a 680% move to $1,000.

Bitcoin Hyper: Solana Could Be the Wrong BetThose who chose Solana over the leading cryptocurrency may soon need to reconsider, as the Bitcoin ecosystem finally tackles its biggest limitation: scalability.

Bitcoin Hyper ($HYPER) is bridging Bitcoin’s security with Solana tech, creating a new Layer-2 network that unlocks scalable, efficient use cases Bitcoin couldn’t support on its own.

Whatever Solana can do, Bitcoin can now do – top-performing narratives like DeFi and real-world assets could be Bitcoin’s for the taking.

The project has already raised almost $31 million in presale, and post-launch, even a small fraction of Bitcoin’s massive trading volume could send its valuation significantly higher.

Bitcoin Hyper is fixing the slow transactions, high fees, and limited programmability that have long capped Bitcoin’s potential – just as the market turns bullish.

Visit the Official Bitcoin Hyper Website Here

At the World Economic Forum in Davos, central bankers, Coinbase, Ripple and banks clash over tokenization, a Bitcoin ‘standard,’ CBDCs and stablecoin yields as crypto trades near record highs.

Summary

Central bankers and CEOs agreed tokenization is now in deployment, with pilots like a €300B French commercial paper project and XRP Ledger tokenized assets up 2,200%.​ Coinbase’s Brian Armstrong pitched a Bitcoin‑anchored, tokenized system for 4B uninvested adults, while France’s Villeroy warned that ceding money to private tokens risks democracy.​ Ripple’s Brad Garlinghouse cited stablecoin volumes jumping from $19T to $33T, as U.S. fights over the CLARITY Act and stablecoin rewards collide with sovereignty and dollarization fears. Tokenization is no longer a World Economic Forum Davos thought experiment; it is, in the words of Banque de France governor François Villeroy de Galhau, “the name of the game really this year,” promising “progress in global finance, delivery versus payments, [and] diminish of cost of financial transactions.”

Tokenization moves from hype to deployment Moderator Karen Tso opened the talk, held on Jan. 21, by recalling the early real-estate hype and noting that in 2026 “banks, asset managers, crypto players [and] other innovators have been quietly working on the innovation,” while the Trump family is “promising to bring real estate assets onto the blockchain and to tokenize Trump properties this year.” Standard Chartered CEO Bill Winters argued the industry is now at “a major inflection point,” saying he has “no doubt” that “eventually all things will settle in digital, digitized form,” even if regulation across “60 plus regulators” dictates how fast that journey happens.

Euroclear CEO Valérie Urbain framed tokenization as an evolution of securities markets that can “reach out to a bigger range of investors” and “give access to finance to many more people,” explicitly tying it to financial inclusion. A joint pilot with Banque de France aims to tokenize France’s commercial paper market, some “€300 billion… small enough to make sure that we can all learn the lessons and see how we can transpose this initiative in a broader sense.”

Democratization, Bitcoin standard and the sovereignty fault line Coinbase chief executive Brian Armstrong pushed the access narrative hard, arguing tokenization’s “most powerful part… is just democratization of access to investment in high‑quality products,” noting an “unbrokered” world of “about 4 billion adults who don’t have access or any ability to invest in high‑quality assets like the US stock market or real estate.” He cast crypto as the birth of “a new monetary system that I would call the Bitcoin standard instead of the gold standard… a return to sound money and something that is inflation resistant” as democracies struggle with deficits and fiat inflation.

Villeroy de Galhau pushed back bluntly: “I am a bit skeptical… about this idea of the Bitcoin standard,” warning that “monetary policy and money is part of society” and that losing the public role would mean losing “a key function of democracy.” Money, he insisted, remains a “public‑private partnership,” with CBDC as anchor and “tokenized private money” strictly regulated or risk a “Gresham’s law” dynamic where bad private money dominates transactions while CBDC is hoarded as store of value.

From stablecoin scale to regulatory trench warfare Ripple CEO Brad Garlinghouse highlighted just how far the first “poster child of tokenization” has already run: “stable coins… went from in 2024 $19 trillion of transactions… and 2025 is $33 trillion, so about 75% growth.” On Ripple’s own XRP Ledger, he said, “tokenized assets… surged over 2,200% last year.” He argued the United States has shifted from being “pretty openly hostile” to crypto to electing a “much more pro‑crypto, pro‑innovation Congress,” with the industry pushing for “clarity… better than chaos” after Ripple’s five‑year legal fight with Washington.

Armstrong used the stalled US “Clarity Act” and the ongoing stablecoin rewards fight to attack what he called lobbying efforts trying “to put their thumb on the scale and ban their competition,” insisting consumers should “earn more money on their money.” At the same time, he warned that offshore stablecoins and China’s interest‑bearing CBDC mean that banning rewards would simply push activity abroad, undermining US and European competitiveness.

Villeroy de Galhau rejected the idea of a remunerated digital euro, calling “innovation without regulation” a recipe for “serious trust issues” and potentially “financial crisis… born of misleaded or dangerous financial innovations.” The public purpose, he said, is “to preserve the stability of the financial system,” and CBDC is “not intended to attack the banking system and its deposits.”

Emerging markets, dollarization and the capacity question The panel repeatedly circled back to the global south. Winters warned tokenization could mean “a full dollarization” for some emerging economies, even as it delivers “serious cost savings on the cross‑border business.” Villeroy de Galhau noted some G20 emerging powers have openly argued “we should forbid cryptos,” a path he rejects as sacrificing innovation but which underlines sovereignty fears. At the same time, he pointed out that countries such as Brazil and India are already global leaders in fast payments with Pix and UPI, even if they remain cautious on on‑chain currencies.

Environmental concerns surfaced briefly. Asked whether blockchain tokenization can coexist with AI’s voracious energy demand, Garlinghouse drew a sharp line between consensus models: “not all layer 1 blockchains are created equal,” stressing that proof‑of‑stake systems use “99.9% less energy than proof‑of‑work,” and that “most of the activity of stable coins today is on more power efficient blockchains” like post‑Merge Ethereum.

Crypto prices: where the market stands The debate in Davos unfolded against a market backdrop where Bitcoin trades just under the psychological six‑figure mark. As of Jan. 22, 2026, Bitcoin changes hands around $89,800–$90,000, roughly flat to modestly higher over the past 24 hours, with MetaMask data showing today’s price at about $89,791, up 0.67% from roughly $89,195 a day earlier. Ether holds near the tokenization narrative it increasingly underpins: around $3,000 per ETH, with MetaMask listing $3,003.33 today, a 1.26% gain on the previous day’s $2,965.92, while Bybit quotes $2,998.95 with a 24‑hour range between roughly $2,872 and $3,053. Tether’s USDT, the largest stablecoin and de facto settlement rail for much of this ecosystem, trades almost perfectly on‑peg at about $0.9992, with a 24‑hour change of roughly +0.05%, a market capitalization near $186.9 billion, and reported daily volume just over $110 billion.

These numbers underscore the panel’s central tension: a crypto market already operating at multi‑trillion‑dollar scale, while policymakers, bankers and builders wrestle—in public—over who ultimately writes the rules for the tokenized future.

TL;DR

Uniswap deployed Continuous Clearing Auctions on the Base network, offering fully on-chain token launches through auctions. The CCA model sells tokens block by block and automatically seeds liquidity into Uniswap v4 pools at the final auction price, avoiding manual configuration. Access to CCA on Base is open and permissionless, allowing teams to adjust auction parameters. Uniswap has deployed its Continuous Clearing Auctions (CCA) framework on the Base network, enabling developers to launch tokens fully on-chain with structured auctions, price discovery, and automatic liquidity provisioning. The mechanism is available to all teams using Uniswap v4 on this Ethereum layer-2 network.

With CCA live on Base, tokens are sold gradually through block-by-block auctions. This mechanism generates a progressive market price before open secondary trading begins. Once the auction ends, liquidity is automatically seeded into a Uniswap v4 pool at the final cleared auction price, removing the need to manually configure pools after launch.

Developers can adjust parameters such as auction duration, allocation structure, and other sale rules, making the entire process fully transparent and entirely on-chain. The core logic follows the same block-by-block clearing process across all supported projects.

Uniswap Seeks to Optimize Token Launches The model is designed to mitigate common token launch risks, including supply concentration, price manipulation, and the dominance of optimized traders in the early blocks. Phased selling distributes supply over time and allows price formation to develop gradually. Teams can rely on the final auction price when configuring pools, reducing the need to estimate an initial listing price.

Access to CCA on Base is open to all Uniswap developers and does not require approvals or whitelists. Projects can integrate auctions, price discovery, and liquidity provisioning through the same contract, maintaining non-custodial execution and aligning liquidity creation with actual demand.

Availability for All Developers The rollout of CCA on Base is part of Uniswap v4’s broader expansion, which also includes deployments on networks such as Monad and X Layer, as well as partnerships with firms like Revolut for fiat on-ramps and Ledger for secure swaps via API. CCA had already been adopted by projects such as Aztec Network to establish initial pricing and liquidity during their token launches

Bitcoin fell more than $3,000 on Wednesday as investors went into extreme fear mode over the possibility of President Trump levying extra punitive tariffs against various European countries. However, during his speech in Davos, the president pulled back from this measure, allowing Bitcoin to push back to the $90,000 resistance. What’s next for Bitcoin?

$3,000 wick caused by Trump speech

Source: TradingView

In the short-term chart the huge wick down from above $90,000 can be observed. This was almost certainly due to President Trump’s speech at Davos where he walked back on the implementation of sanctions on some European countries, and also withdrew the threat of taking Greenland by force. 

The market breathed a sigh of relief, and risk assets such as Bitcoin were given some respite. That said, the crypto sector is still very much back in ‘Extreme Fear’ according to Alternative.me, the crypto market sentiment indicator.

The $BTC price is now trading sideways, above the major ascending trendline, and bumping up against the $90,000 horizontal resistance. The task for the bulls is to get above $90K and turn it back into support. A reentry into the ascending triangle would also be a great achievement. With higher time frame moving averages breaking down, the bulls are going to have to get a decent rally going - and soon.

The RSI at the bottom of the chart looks promising, as the indicator line has broken through the downtrend, and looks to have confirmed the breakout.

BTC price comes down perfectly to golden Fibonacci level

Source: TradingView

If one takes a Fibonacci from the $80,000 bottom up to the rally top at $98,000, it can be seen that the $BTC price came down precisely to the 0.618 Fibonacci level at Wednesday’s $87,000 bottom. This is a perfect retracement to this golden level, and bodes well for a continuation of the bounce. 

Nevertheless, the 50-day SMA (blue line) has now aligned with the $90,350 overhead resistance, making this a more difficult barrier for the bulls to surmount. At the same time, the 100-day SMA (green line) is coming down, having formed a barrier to the local high at $98,000.

At the bottom of the chart, the good news is that the Stochastic RSI indicators are turning back around, and the fast blue line is about to cross above the slow orange line. This could signal that the upside rally has in fact already begun.

Bitcoin in last chance saloon

Source: TradingView

In the weekly time frame it can be observed that the 100-week SMA is playing its part over these last several weeks. On Wednesday the price wicked down to this moving average, and it can be seen that this has happened on other occasions as well. It also might be said that if the $BTC price did drop below this average, the bear market would very likely be confirmed.

The Stochastic RSI is starting to perhaps show some signs of concern, as the blue indicator line in particular could be about to roll over. That said, as long as the current rally does not run out of steam, these indicator lines should keep going up.

The $BTC price is at a very critical point right now. Another dump back to $87,000 and below and it would seem very difficult for the bulls to force the price back up again. The bulls are probably in last chance saloon. Will they take advantage and spark a wondrous rally, or is this the last act before being dragged down into the bear market?

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

contributor

Posted: January 22, 2026

MYX is back in the headlines. It surged 12% on the 22nd of January, topping the list of gainers. 

Source: X

Since the beginning of 2026, MYX surged over 96%, with a brief retrace. Despite this, it remained up over 63% for the year at the time of writing.

The coin had a strong performance in 2025, looking back to its all-time high (ATH) of $19.90. But what caused this 12% rally?

V2 Airdrop’s reward distribution fuels MYX On the 8th of January, MYX launched its largest airdrop to date, distributing 5 million MYX tokens (worth approximately $29.45M) and 5 million ZKP tokens.

The distribution targeted early users who engaged with the platform before the V2 update.

The airdrop incentivized user loyalty and attracted new participants, reducing sell pressure by encouraging holders to keep their positions. How did this airdrop directly impact MYX’s price surge?

The market saw increased demand for MYX Finance [MYX] tokens as a result of the airdrop, driving the bullish movement. This strategy acted as a catalyst for MYX’s 12% rally.

Yet, the long-term impact depends on how these tokens are handled in the secondary market. Could the rally continue post-claim?

MYX shows massive strength MYX Finance [MYX] completed a bullish double bottom formation, a signal of massive strength. After reaching $7.20, it formed the first bottom, and the second bottom now played out.

Should MYX break resistance at $6.12, the double bottom pattern could drive it higher. 

Source: TradingView

Looking ahead, breaking resistance could push MYX to $7.30, confirming the bullish trend. Traders are waiting for confirmation that the rally has legs.

Liquidity surrounds $7.60: Will it act as a magnet? MYX’s liquidity heatmaps revealed decent clusters forming around $7.60 on higher timeframes. These zones are often targeted by market makers, and if MYX breaks resistance, it could trigger a rally. 

Source: CoinGlass

If MYX clears the resistance, it could test new highs. However, failure to break $6.12 resistance could invite a pullback, challenging support at $4.40.

Potential risk: Will MYX manage to stay above $4.40? Despite the bullish outlook, MYX needed to hold above $4.40, which became a crucial support level. If it failed to maintain this level, it risked retracing deeper.

The MACD showed increasing bullish momentum with a rising histogram, confirming upward pressure.

Additionally, the RSI was at 63.19, indicating that MYX was in the neutral to bullish zone, with room for further gains.

Traders closely monitored these indicators, as a failure to maintain support at $4.40 could have weakened the bullish momentum and limited MYX’s upside potential.

Final Thoughts MYX’s rally was heavily influenced by the V2 airdrop, which increased demand and reduced sell pressure. The bullish double bottom formation suggested further gains, but $4.40 remained the critical support level.

Solana trades choppy near key $123–$129 support as Forward Industries ramps its SOL treasury and Bitcoin Hyper’s Solana-based Bitcoin L2 fuels a mixed outlook.

Summary

Solana holds the $123–$129 support band, with a break below $123 opening downside toward $116 and threatening the year-long triangle base.​ Forward Industries has accumulated over 6.97m SOL and 133k+ SOL in staking rewards, using on-chain yields to compound SOL per share. Bitcoin Hyper plans a Solana VM-based Bitcoin layer-2 for DeFi and tokenization, tying Solana’s tech to Bitcoin’s security to address speed and fee limits. Solana (SOL) is likely to trade choppy but slightly bid today, with bulls defending the $123–$129 support band while eyeing a potential push toward the mid-$130s if broader crypto sentiment stays constructive and spot flows remain positive, but a clean break below $123 would open room toward $116 and invalidate any near-term rebound narrative.

Forward Industries, a Nasdaq-listed company, has increased its Solana holdings to over 6.97 million tokens since mid-December, according to a press release from the firm.

Solana just hit the lower level of its long term ascending triangle, around $127.

This level is important because it’s where higher lows have been defended since the trend began. A weekly close at or above this zone keeps the structure intact.

So far, price is doing what you’d… pic.twitter.com/VxEWXIfGjM

— Milk Road (@MilkRoad) January 22, 2026 The company initiated its Solana treasury strategy in September 2025 and has generated over 133,450 Solana in staking rewards since that time, the release stated. The firm said it has compounded its Solana-per-share through these staking operations.

Forward Industries also announced it has become the first publicly traded company to offer its shares directly on-chain, marking an expansion of its Solana-based operations.

The announcement comes as altcoins have seen fresh capital inflows in the new year, with institutional investors showing renewed interest in digital assets beyond Bitcoin.

Technical analysis of Solana’s price chart shows a year-long descending triangle pattern approaching a key support level. The cryptocurrency is retesting a two-year demand zone that forms the base of this pattern, according to market data.

Momentum indicators present mixed signals. The Relative Strength Index has fallen slightly below neutral levels, while the Moving Average Convergence Divergence indicator recently showed a death cross pattern. Analysts note these indicators could reflect consolidation rather than a trend reversal.

Solana has faced resistance levels that have capped price gains since September, according to chart data. The cryptocurrency would need to break through these resistance levels to approach its previous all-time highs.

A separate project called Bitcoin Hyper has raised presale funding for a Layer-2 network that aims to combine Bitcoin’s security infrastructure with Solana’s technology framework. The project seeks to address Bitcoin’s scalability limitations, including transaction speed, fees, and programmability constraints.

The Layer-2 solution is designed to enable decentralized finance applications and real-world asset tokenization on Bitcoin’s network, functionality that has been limited on the base layer.

Thu, 22/01/2026 - 13:41

Dogecoin is still trading below a crucial support, but there are indications of a potential 30% breakout.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Dogecoin (DOGE), the king of the meme coins, appears set for a rally that could see its price soar by up to 30%. As per the Bollinger Bands signal, a rebound is imminent, and it could see DOGE soar to over $0.16 if market indications align.

Bollinger Bands indicate Dogecoin could target $0.16According to CoinMarketCap data, Dogecoin’s lower Bollinger Bands show the meme coin’s price at $0.1226, while the upper bands sit at $0.1554. If market forces align and ecosystem bulls support the meme coin, a rally is possible.

Notably, the difference between the lower and upper Bollinger Bands is approximately 30%. Thus, if DOGE breaks by at least this percentage, the asset could climb over $0.16.

Within the last 24 hours, Dogecoin has climbed from a low of $0.1207 to $0.1285. This suggests that the meme coin is in a bullish mode and could continue on this momentum. As of press time, Dogecoin is changing hands at $0.1257, which represents a 3.36% increase within the period.

Dogecoin Price Chart | Source: CoinMarketCapThe trading volume has also soared by 5.39% to $1.38 billion as investors rekindle interest in the meme coin amid a market rebound. The crypto market is posting a notable recovery and has climbed by 1.79% in the last 24 hours.

Dogecoin’s current price is an improvement from the last 24 hours, when it dropped to $0.1226, which triggered 2,563% in liquidation. The development caused significant losses for bullish traders, causing concerns for investors.

RSI shows bearish pressure easing for DogecoinMeanwhile, technical indicators indicate that the bearish momentum is flattening. The asset’s Relative Strength Index (RSI) is at 40.3, which signals that the meme coin might sustain the current rebound moves.

Dogecoin has been signaling bullish moves this January, with investors betting on a rally. With the broader crypto market rebound showing recovery and Bitcoin also climbing, DOGE is likely to achieve the $0.16 price zone if volume continues to soar.

As U.Today reported, on-chain analytics platform Santiment highlighted Dogecoin as one of the crypto assets generating hype among traders. Such a development amid a broader recovery is likely to act as support for Dogecoin's bullish rise.

Related articles

Bitwise, recently compared the ETH price current setup mirrors the structural recovery seen in early 2023. According to recent analysis by the firm, the broader crypto market likely formed a bear market bottom in the final quarter of 2025, setting the stage for a new growth cycle. While market sentiment remained fragile during that period, the underlying ETH price USD fundamentals had improved sharply, showing a significant divergence between stagnant price action and record-breaking on-chain activity.

Whale Momentum and the Supply-Side CrunchThe current ETH crypto environment seems to be turning green. As on-chain data confirms that while smaller addresses holding between 10 and 10,000 coins have been reducing their exposure, entities holding between 10 million and 100 million ETH are aggressively absorbing the supply. 

This strategic accumulation is further validated by a surge in whale transaction counts for orders exceeding $100,000 and $1 million. Historically, when these transaction peaks occurred last, most notably in September 2025 that’s when ETH price was at an all-time high of $4955. As these transactions begun rising on the 30-day MA again after Q4 2025 decline, a similar impulsive rise appears likely in Q1 2026.

ETH Price Chart Analysis and Resistance LevelsExamining the ETH price chart, a clear multiyear trendline has emerged as the most critical psychological and technical floor, currently holding firm near the $3,000 support zone. 

Throughout December and into January 2026, the price has attempted to reclaim the 200-day EMA, though macro uncertainties have created temporary rejections. This rejection has compressed the daily price action between the trendline and the EMA band, creating a “coiling” effect that often leads to high-volatility breakouts. 

If the bulls can maintain this momentum and flip the 200-day EMA into support, the ETH price prediction points toward immediate targets of $3,827 and $4,218.

The Road Ahead for Ethereum in 2026As Q1 is ongoing, the ETH price USD trajectory will likely be influenced by major catalysts such as the proposed CLARITY Act and expanded access to crypto ETFs through traditional brokerage platforms. 

Bitwise draws a compelling parallel to the early 2023 “stagnation” phase where the market was declared “dead” right before a massive expansion.

With exchange reserves continuing to decline and decentralized exchange volumes consistently outperforming centralized counterparts, the structural groundwork for a bullish ETH price forecast is more robust than ever. 

Once the current bearish momentum fully settles, the combination of institutional backing and extreme network utility should drive the ETH price toward its next major milestone.

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On January 22, 2026, Pi Network launched its first mainnet community vote, allowing Pioneers to take part in key network decisions. As soon as voting went live, millions of users logged in at the same time, causing temporary app slowdowns and frustrating many users.

Despite it, Pi network native token saw 2.5% spike in price after staying quiet for a long period.

App Traffic Surge Causes Waiting QueuesPi Network began a seven-day mainnet community governance vote, focusing on upgrades like Version 23 (v23) for faster speed, better security, and on-chain KYC. As voting opened, over 15.8 million verified users tried to access the Pi App & Wallet at the same time, causing temporary overloads.

Many users saw a waiting message asking them to be patient. Pi Network said the delay was due to heavy traffic and confirmed that access would return without needing to reinstall the app.

While some users showed frustration online, many others saw the queues as a positive sign of strong community participation.

This vote marks a major step in Pi Network’s move toward decentralized governance. Instead of decisions being made by a small group, verified community members now have a direct voice in important network upgrades.

Pi Coin Price Sees Small Surge Following Governance Vote Day, Pi Network’s native token, Pi Coin, saw a modest 2.5% price increase over the past 24 hours. The token is currently trading around $0.186, with a market capitalization close to $1.55 billion.

Despite the short-term rise, Pi Coin remains nearly 90% below its all-time high of $2.34. 

Some Pi community member states that while price action remains weak overall, growing user engagement and governance participation could support longer-term confidence.

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Ethereum price dropped below $2,900 for the first time in 5 weeks as recent geopolitical concerns drove investors away from the crypto market.

Summary

Ethereum price briefly fell to a 5-week low of $2,872 on Thursday. Geopolitical concerns and consecutive outflows from ETFs impacted market sentiment. A bearish pennant pattern was confirmed on the daily chart. According to data from crypto.news, Ethereum (ETH) fell to an intraday low of $2,872 on Thursday morning Asian time after it lost the key $3,000 pyscologcial support level earlier on Tuesday.

Ethereum price dropped because investors had turned risk-averse after U.S. President Donald Trump threatened to impose tariffs on eight NATO allies if they did not cede or sell Greenland to the United States. Over the last few trading sessions, Investors were seen moving to safe-haven assets such as Gold and Silver as they awaited the macro environment to cool off. 

Adding to this, a drop in institutional demand for Ethereum was also impacting retail sentiment. Data compiled by SoSovalue showed that investors had pulled out over $500 million from U.S. spot Ethereum ETFs over the past two days, an outflow trend not observed since mid-December last year.

A decline in institutional demand has often acted as a bearish catalyst for Ethereum, as seen earlier on Dec. 18 last year, where sustained outflows from major funds led the Ethereum price to drop by nearly 8% in a single week.

Ethereum price risks drop to $2,500 On the daily chart, Ethereum price has confirmed a bearish pennant pattern that had formed since early October last year. The pattern is formed when an asset’s price drops sharply, forming the flagpole, and is followed by a small, triangular consolidation area called the pennant. 

Ethereum price has confirmed a bearish pennant pattern on the daily chart — Jan. 22 | Source: crypto.news Traders typically enter a short position after the price decisively breaks the lower trendline of the pennant, as was the case for Ethereum price action.

Ethereum has also fallen below the 50-day SMA at $3,084, which has been acting as a dynamic level of resistance for the asset over recent weeks. Furthermore, the MACD lines have confirmed a bearish crossover, providing another sell signal for traders looking for momentum shifts.

Put together, these bearish indicators suggest that Ethereum could fall by 17% to $2,500, which is the next psychological support level, that has acted as a strong floor for the cryptocurrency during a volatile period in Q2 2025.

ETH price could recover as macro tensions ease At the time of publication, the leading altcoin by market cap had managed to recover back above the $3,000 mark, supported by news that Trump has decided not to move forward with the tariffs after a “very productive meeting” with NATO Secretary General Mark Rutte in Davos

This development may provide temporary relief for Ethereum and could help fuel a recovery, especially if it manages to hold above $3,000. 

Subsequently, a move back above $3,084 would invalidate the bearish forecast.

Traders on Hyperliquid shifted to tokenized gold, putting it among the top 10 most actively traded assets. Whales are predominantly long on gold. 

Hyperliquid has become a venue for tokenized gold, putting PAXG among the top 10 most traded assets. As gold reached new records, while BTC lagged, traders used the available on-chain infrastructure to switch to the more actively appreciating asset. 

Traders have shown renewed interest in tokenized metals, as gold approached $5,000 while BTC lagged. 

PAXG traded at a premium to spot gold, becoming one of the most bullish tokens on Hyperliquid. | Source: Coingecko PAXG is one of the two major tokenized gold tokens, in addition to Tether’s XAUT. The asset was selected for derivative trading on Hyperliquid, lining up among blue-chip crypto coins. 

Hyperliquid traders go long on gold Hyperliquid whales built long positions on PAXG, taking up over 89% of open interest. PAXG open interest as a whole rose near a three-year high, to over $220M. 

Outside Hyperliquid, traders are more cautious longing PAXG, with only 59% in long positions. The growth in long positions is also more gradual, signaling Hyperliquid as the hottest venue for gold speculation. 

Spot gold on international markets traded near its all-time peak at $4,830.05. PAXG saw increasing interest in trading, showing a premium at $4,841.56. The token is still mostly relying on its Binance pair for the bulk of centralized volumes. Gold-backed tokens are just entering decentralized trading, as crypto networks are switching to traditional assets. 

PAXG also traded at a premium to Tether’s XAUT, which settled at $4,826.23. XAUT is valued at $2.5B in total, with $300M in daily trading. In the past days, PAXG achieved higher daily volumes of over $441M. PAXG tracks the spot gold price closely, with the exception of short-term premiums.

PAXG and gold trading attracts whales PAXG is still traded as a novelty token. Its overwhelming bullish open interest of 89% depends on the size of positions, rather than the number of traders. 

On Hyperliquid, a total of 18 whales are making bets on PAXG, evenly split between long and short traders. Short positions are receiving small fees from holding onto the unpopular side of the market. Currently, the biggest position for $10.52M was short, holding an unrealized loss of $445K. Long traders are cautious, posting much smaller positions for now. 

Recently, one whale built a notable position on XYZ:silver and XYZ:gold, two of the other tokenized options on Hyperliquid. The whale’s positions hold a small unrealized loss. For now, the tokenized metals are still traded at lower volumes compared to crypto native tokens. The whale’s total positions are for just under $1M. 

The recent inclusion of gold and tokenized stocks on crypto exchanges aims to offset the slower altcoin volumes. The trading also means platforms can continue to draw in high daily fees, even with a general market downturn. Hyperliquid is still in the top 5 fee producers, with $3.41M in revenues for the past day.

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Crypto is trading sideways on Thursday as everyone awaits the final U.S. GDP report for Q3, 2025. Bitcoin is sitting at around $89,900, making a small comeback after losing about $625 million in liquidation on Tuesday. Ethereum is in the lead among the majors, rising above $3,010, while XRP holds strong at $1.96.

Sentiment is stable but watchful. The GDP report at 8:30 a.m. ET could cause some market volatility. Most experts expect 4.3% growth, but the inflation numbers in the report might influence the Fed's next moves.

In this report: Litecoin is gearing up for a halving countdown, Ripple's RLUSD stablecoin is finally landing on Binance — David Schwartz himself has confirmed it — and XRP is trading into a "Crocodile Zone" trap between heavy supply clusters.

HOT Stories

TL;DRLitecoin's halving roadmap is setting the stage for what's coming in 2027.Ripple's RLUSD stablecoin is now available on Binance, and David Schwartz has given it the green light.XRP is facing resistance at $2, stuck in a tight URPD range with a not-so-strong breakout structure."Digital silver" Litecoin reveals halving countdownToday, Litecoin’s official X account reminded everyone that its next halving is scheduled for 2027, when block rewards will drop to 3.125 LTC. 

Most coins inflate. Litecoin does not. This, coupled with its fixed supply and diminishing issuance, reawakens the asset’s multi-cycle legacy.

LTC/USD by TradingViewThere are three familiar patterns after each halving:

2015: The halving price was $3.25. There was an 820% rally beforehand and a +14,000% increase over two years.2019: The halving price was around $100. There was a 550% rally before the event, a 33% drop after the halving and a full-cycle rebound.2023: The halving price was $90. There was a mild run to $114, a 37% drawdown and a muted bounce.Each time, LTC rallied before the cut, sold off afterward and then surged in the long run. However, gains have become smaller with each cycle, which suggests reduced reflexivity — or fading narrative power. Still, the coded scarcity and predictable cadence offer an advantage over the more chaotic emissions of other coins.

With LTC under $100 today, some long-term investors may be entering the market. It is early, but Litecoin’s halving script is already in motion.

Ex-Ripple CTO co-signs major Binance newsRipple's RLUSD has just broken through its final liquidity wall: Binance.

As of today, the stablecoin is tradable on the platform across three spot pairs — RLUSD/USDT, RLUSD/FDUSD, and XRP/RLUSD — and deposits are live. Withdrawals will open on Jan. 23. Zero-fee trading sweetens the rollout.

More important is who reposted the news: David Schwartz, Ripple’s former CTO and the chief architect behind much of its infrastructure, shared the listing on X with no commentary — just a signal. In the XRP community, that counts.

Source: David SchwartzLaunched in December 2023, RLUSD now has a market cap of $1.3 billion and is traded on 16 platforms, including Gemini, Kraken, Bullish and Bitstamp. Binance completes the volume puzzle. Coinbase is the only major exchange yet to add RLUSD, making it the new outlier.

The timing matters. RLUSD is built to integrate directly with Ripple’s cross-border systems, providing liquidity alongside XRP. With access to Binance's order books, RLUSD can compete with USDT and USDC for infrastructure use.

If trading volume increases, RLUSD may gain ground in the stablecoin wars and provide XRP with more liquid ramps in the process.

Three levels to watch for XRP price right nowLooking at XRP's realized price histogram, it seems like the battlefield is really compressed. URPD data, via Glassnode and visualized by Ali Martinez, shows thick supply bands stacked at the current price — basically caging it inside a tight chop zone.

Here's the deal:

$2.11: That is the upper ceiling with the historic bagholder volume. Any push above that level needs to clear the pressure.$2-$1.97: There is a concentrated resistance zone here. There is a lot of trapped liquidity from previous cycles.$1.89: This is the active trading zone. It is basically the current price region with light activity.$1.78: Bulk supply cluster below. Key defense zone.$1.42: Legacy support in a deeper flush scenario.XRP is trading at $1.96, up +3% today, just under the $2 threshold. It is moving inside what's being called the "Crocodile Zone," which is a range where prices are swinging back and forth between strong resistance ($1.97-$2.11) and solid support ($1.78), like it has got its jaws open, but it is not really moving in any direction.

Source: Ali MartinezThe term is not from any official indicator; it is just market slang. But it fits. Price action is slow but controlled. It is a trap for both bulls and bears.

The RLUSD listing might create some breakout pressure. XRP is now paired directly with the Ripple stablecoin on Binance, giving traders a new way to enter and exit the market. But macro is still a bit of a wild card. If we get a hotter GDP read today, it could really hurt risk appetite and send XRP back down to test $1.78.

Until then, the "crocodile zone" waits.

Crypto market outlookCrypto is on standby ahead of the GDP release. The market expects 4.3% growth, but even a small upside revision — or stickier PCE inflation — could shake things up and force the Fed's hand. 

Bitcoin must close decisively above $90,000 to confirm continuation. XRP is boxed below $2 and needs volume follow-through from the RLUSD-Binance news to push through. If not, the path back to $1.78 remains open. 

Litecoin is back on the radar. Halving in 2027 sounds distant, but its fractal timing makes Q4, 2026, a likely prerally phase. If this cycle holds, entry before that period could offer high asymmetric risk-reward.

Key levels to watch

XRP: Resistance at $1.97-$2.11, and support at $1.78.Bitcoin (BTC): $88,000 remains a key downside, $90,000-$92,000 breakout range.Ethereum (ETH): Eyes $3,050-$3,200 retest.Litecoin (LTC): Accumulation zone $92-$105 ahead of 2027 halving wave.

Bitcoin completed a key technical move on January 21 by filling its lower CME gap near $88,000, while on-chain data showed large holders increasing exposure. At the same time, a $132,000 price projection gained attention, adding to mixed signals as the market stabilizes after the recent drop.

Bitcoin Fills CME Gap as Price Tests $88,000 AreaBitcoin closed its lower CME futures gap on January 21, according to a 30 minute CME chart shared by More Crypto Online. Price sold off from the mid January peak near $98,000 and pushed into the highlighted gap zone around $88,000–$89,000, then stabilized.

Bitcoin CME Futures 30 Minute Chart. Source: More Crypto Online

The chart shows Bitcoin breaking below the $95,000–$96,000 area and sliding into the gap without long pauses. The move formed a clear short term downtrend, with successive lower highs and lower lows into the fill zone.

After price reached the gap, it briefly dipped under the lower boundary and then moved back into the highlighted range. That reaction suggests selling pressure slowed once the gap closed, although the structure still sits below prior swing levels.

With the gap now filled, attention shifts to nearby resistance and whether price can reclaim broken levels. The $90,000–$92,000 zone stands out because it overlaps with the post drop consolidation area on the chart. If buyers hold the gap zone and push above that band, price can build a base. If price loses the gap zone again, the market can probe lower support levels around $87,000–$86,000.

Klarck Targets $132,000 After BTC Rebounds From Early 2026 LowsMeanwhile, Klarck posted on January 21 that Bitcoin will reach $132,000 within 60 days, calling the latest drop “over” and pointing to a Bitcoin USDT daily chart on Binance with rounded swing markers and an upward projection.

Bitcoin TetherUS Daily Chart, Binance. Source: Klarck (@0xklarck)

The chart shows Bitcoin trading near $90,076 at the time of the screenshot on TradingView. It also shows a sharp decline from late 2025 highs into a low around the mid $80,000s, followed by a bounce into the low $90,000s.

Klarck’s graphic adds a dashed path that first pushes price toward the $110,000–$116,000 area, then dips and continues higher. It ends at a labeled target of $132,000 on the right side of the chart.

The post frames the setup as a completed downswing and a fresh upswing, then ties that view to a fixed timeline. Still, the chart itself includes no indicators, levels, or event triggers, so the $132,000 figure reflects the author’s projection rather than a confirmed market move.

Bitcoin Whales Increase Holdings as 30 Day Balance Change Turns PositiveOn January 21, on-chain data shared by Kamran Asghar shows large Bitcoin holders increasing balances over the past 30 days, even as price consolidation continues near recent highs.

The chart tracks balance changes for wallets holding more than 1,000 BTC, including mega whales and exchange-linked addresses. Recent readings show a sharp positive spike on the right side of the chart, signaling net accumulation during the latest period.

Whales and Exchanges Over 1k BTC Balance Change 30 Day Chart. Source: Checkonchain, James Easton UK

At the same time, Bitcoin’s price line continues to trend upward over the longer term, holding near the upper end of its historical range. The combination suggests large holders added coins while price remained elevated, rather than during deep drawdowns.

Smaller whale cohorts, holding between 1,000 BTC and 10,000 BTC, also show intermittent positive balance changes. That pattern points to broader participation among large wallets instead of isolated accumulation by a single group.

Historically, sustained positive balance changes among whale wallets have preceded periods of price expansion, especially when accumulation occurs during sideways or corrective phases. If the current trend persists, on-chain positioning suggests large holders are preparing for higher price levels rather than distribution.