Today's market is experiencing significant turbulence under the shadow of "Black Monday," as Trump's tariff threats resurface and the reversal in the nomination of the Federal Reserve chair becomes the main trigger for the sell-off. Meanwhile, the battle between Wall Street and crypto giants over the (CLARITY Act) has reached a fever pitch.

🏛️

Core News: Political and Economic Storm and Legislative Struggle
Trump's "tariff storm" has sparked a "Black Monday" for the crypto market: Trump threatens to impose 10%-25% tariffs on 8 EU countries to force them to agree to the "U.S. purchase of Greenland." Concerns over escalating trade wars have led to a plunge in stock index futures, with BTC experiencing a flash crash this morning, briefly falling below $92,000, triggering a massive liquidation of over $860 million across the network.

Federal Reserve Chair nomination reversal: Popular candidate Hassett hints at the possibility of remaining in office, while the market expects his withdrawal from the race. Currently, 'hawkish' Kevin Warsh's odds have soared to 60%, and his tough stance puts pressure on risk assets in the short term.

(CLARITY Act) on the brink of collapse: Coinbase and traditional banks have erupted in fierce conflict over whether stablecoins should earn interest. Banks are concerned about the outflow of $6.6 trillion in deposits and demand that the bill strictly prohibit non-bank institutions from offering stablecoin rewards. Coinbase CEO responds firmly: 'Better no bill than a bad bill.'

Chinese regulatory dynamics: The Central Political and Legal Work Conference emphasizes that in 2026, there will be strict prevention against using blockchain and other encryption technologies to evade regulation, and legal actions will be taken against AI-generated false information.

📊

Market analysis: Leverage purge and chip movements
Long squeeze: Approximately $865 million was liquidated in the past 24 hours, with a very high proportion of long positions. BTC faces significant selling pressure around $98,000.

Weak spot demand: Coinbase premium index has been negative for 3 consecutive days, reflecting a decline in domestic spot buying in the U.S., with the market shifting from 'frenzy' to 'observation.'

Whale movements: * ONDO selling pressure warning: Pantera-related wallets and project parties transferred over 200 million ONDO (about $80 million) to exchanges.

BTC accumulation signal: Glassnode points out that the 'fish to shark' group (small to medium whales) has increased its holdings by 110,000 BTC in the past 30 days, the highest since the FTX collapse.

Safe-haven asset frenzy: Spot gold surged to $4,690, and spot silver hit a historic high of $93.69/ounce, with a cumulative increase exceeding 31% in 2026.

🚀

Project dynamics and safety warnings
Solana front transfer: Several Perp DEX projects (such as Trove) announced a shift from Hyperliquid to Solana just before their launch. Meanwhile, Solana Mobile announced that airdrops will strictly check 'witch addresses' and eliminate abnormal clusters.

Paradex system failure: The Starknet ecosystem DEX Paradex suffered a large-scale liquidation due to abnormal funding rates, and officials announced a rollback of the chain state to the height before maintenance.

Ethereum staking backlog: The influx of institutions like BitMine has led to a backlog in the Ethereum staking activation queue, with current waiting times exceeding 45 days.

Hacker money laundering: $282 million in hardware wallet scam funds continue to move, with an additional 800 ETH flowing into Tornado Cash.

💡

Traffic hot spots (for discussion reference)
'Greenland Island tariff swap': Is this magical geopolitical chip from Trump the real 'black swan' that caused today's cryptocurrency flash crash?

The $6.6 trillion battle between banks and Coinbase: Are traditional banks using their lobbying power to eliminate the 'interest-earning' competitiveness of stablecoins?

Epic surge in silver: At the start of 2026, silver's increase far exceeds that of BTC. Has safe-haven funding fully shifted to physical assets?

Recommendation: U.S. stock markets will be closed on January 19, with lower liquidity. Be cautious of repeated spikes in contracts. Next Tuesday (20th), the U.S. Supreme Court's tariff ruling will be key for the market to recover $95,000.