🌐 Global Market Cap: 3.01T, showing signs of stabilization after recent fluctuations. The prices of major cryptocurrencies have generally rebounded moderately from the low points of the previous day, demonstrating some resilience.
📶 Market Sentiment: Fear and Greed Index 37, market sentiment has improved after price recovery but remains cautious. Investors are digesting the impact of geopolitical uncertainty and the latest interest rate decision from the Federal Reserve.
💸 Funding and Liquidation
Note: As of January 29, 0:00, specific data on liquidations across the network within the past 24 hours has not been provided in the current search results. The following is a recent overview of related capital flows.
ETF capital flows (weekly): As of the week of January 25, the U.S. spot Bitcoin ETF had a net outflow of $1.33 billion, and the spot Ethereum ETF had a net outflow of $611 million. Continued outflows of institutional funds have brought structural pressure to the market.
Total market capitalization of stablecoins: As of January 25, data shows the total market capitalization of stablecoins is approximately $310.8 billion, down 1.02% from the previous week.
🔥 Today's focus
The market rebounded slightly, with Bitcoin approaching the $90,000 mark: the overall cryptocurrency market showed a slight upward trend. Bitcoin (BTC) rose 0.82%, nearing the key psychological price of $90,000. Ethereum (ETH) rose 2.67%, successfully breaking through the $3,000 mark.
The Federal Reserve maintained its stance as expected, demonstrating a cautious attitude: On January 29 at midnight Beijing time, the Federal Reserve announced its interest rate decision, keeping the federal funds rate unchanged at 3.50%-3.75%, in line with market expectations. This is the first pause since three consecutive rate cuts since September 2025. The decision statement shows that there is disagreement within the Fed regarding the policy path, with two members voting in favor of a rate cut. Chairman Powell stated at the press conference that raising rates is not a basic assumption for anyone's next action, but there needs to be a signal that 'tariff inflation' has peaked and is retreating before considering further easing of policies.
Traditional safe-haven asset prices hit new highs: After the Federal Reserve's announcement, market risk-averse sentiment drove a surge in precious metal prices. Spot gold rose more than 3% during the day, reaching a historical high above $5,340 per ounce. Cryptocurrencies, as risk assets, showed a divergence in trends compared to traditional safe-haven assets like gold in the short term.
Multiple sectors generally rose, with partial improvement in market risk appetite: except for slight declines in the GameFi and DePIN sectors, several sectors recorded gains that day. Among them, the DeFi sector rose 3.68%, the AI sector rose 2.19%, and the Meme sector rose 2.01%, indicating active fund movement in specific areas.
📊 Mainstream coin performance
As of January 28, major cryptocurrencies generally rose:
Bitcoin (BTC): price around $89,110, with a 24-hour increase of +0.82%.
Ethereum (ETH): price around $3,010, with a 24-hour increase of +2.67%.
Solana (SOL): price around $126, rebounded following the market trend.
🌟 Sectors and hot projects
Leading sectors and projects:
DeFi sector: overall up 3.68%, with Hyperliquid (HYPE) up 27.77%, Lighter (LIT) up 11.16%, Jupiter (JUP) up 6.47%.
Meme sector: overall up 2.01%, with PIPPIN soaring by 62.31%.
Underperforming sectors: The GameFi sector and the DePIN sector fell by 1.91% and 0.86%, respectively, becoming the only sectors to decline that day.
🌍 Macro and regulatory dynamics
The Federal Reserve's policy path has become the focus: the market generally believes the Fed has entered a new 'wait-and-see' period. According to the CME 'FedWatch' tool, the market expects the probability of a 25 basis point rate cut at the March meeting to be only 13.5%. Future economic data, especially inflation data, will be crucial guides for a policy shift.
The market remains focused on the successor to the Federal Reserve chairman: the current chairman, Jerome Powell, will complete his term in May 2026. He refused to disclose his intentions at the press conference, only emphasizing the need to stay away from politics. The market is closely monitoring potential successors and their policy inclinations.
🐌 Market insights
On January 28, the cryptocurrency market experienced a slight rebound ahead of the Federal Reserve's interest rate decision, with both Bitcoin and Ethereum holding key integer levels, indicating some stabilization in market technical structures. This mild increase coincided with the Fed's 'hawkish hold,' suggesting that the market has fully digested the interest rate decision.
Despite the internal performance of the cryptocurrency market showing localized activity, especially with the rise of sectors like DeFi bringing positive signals, there are still macro-level challenges. On one hand, the Fed's pause on rate cuts and cautious signals have weakened expectations for rapid liquidity improvement; on the other hand, continuous inflows into gold have driven its price to new highs, indicating that traditional safe-haven assets are favored over 'digital gold' Bitcoin in the face of geopolitical uncertainties.
In the short term, the market may enter a narrow range of fluctuations around key price levels (BTC: $89,000-$90,000; ETH: $3,000-$3,100). In the absence of new major catalysts, market trends will continue to be influenced by macro sentiment, institutional fund flows (such as ETF data), and on-chain dynamics. Investors need to closely monitor the upcoming non-farm employment data and inflation data, which will directly impact market expectations for the Fed's future policy pace.