Crypto Breaking

Regulators in Washington signaled a shift toward coordinated crypto oversight as the US CFTC said it would join the Securities and Exchange Commission’s ongoing Project Crypto initiative. In remarks prepared for an SEC-CFTC discussion on harmonizing digital asset regulation, CFTC Chair Michael Selig said the agency would partner with the SEC to articulate a clear taxonomy for crypto assets, define jurisdiction more precisely, and reduce duplicative compliance requirements that raise costs and confuse market participants. The move comes as Congress debates a digital asset market structure bill and as markets watch for clearer guidance on how different assets are regulated. This collaboration signals a practical step toward a more streamlined and predictable regulatory environment for innovative finance in the United States, with implications for traders, developers, and traditional financial institutions alike.

Key takeaways

The CFTC will align with the SEC on Project Crypto to establish a unified taxonomy for digital assets and reduce regulatory fragmentation across markets.

Officials argue that consolidating rules should lower barriers to entry, curb duplication, and deter regulatory arbitrage without sacrificing market integrity.

The remarks come as the Senate Agriculture Committee advanced a digital asset market structure bill, highlighting cross‑agency and cross‑branch momentum toward a formal framework.

Both agencies emphasize modernization to “future‑proof” US markets against tomorrow’s innovations while preserving core protections for investors.

<li The discussion touches on prediction markets and other event contracts, with the CFTC signaling a review of existing rules to provide clearer standards for market participants.

Tickers mentioned: $BTC, $ETH

Sentiment: Neutral

Market context: The regulatory dialogue around crypto remains central to liquidity and risk sentiment in 2025–2026, with lawmakers weighing how to balance innovation with investor protection amid ongoing debates on jurisdiction, enforcement, and product clarity.

Why it matters

At the center of the discussion is a push to avoid the current patchwork of rules that can slow innovation and raise costs for crypto developers and participants. By pursuing a shared framework, the SEC and CFTC intend to minimize duplicative compliance obligations and ensure consistent application of rules across spot markets, derivatives, and new tokenized products. The effort acknowledges that fragmentation can deter capital formation and complicate compliance, ultimately affecting everyday users who rely on crypto services for payments, liquidity, and access to investment opportunities.

For investors, the joint initiative could translate into clearer disclosures, more reliable enforcement signals, and a more predictable regulatory baseline. The aim is not to relax safeguards but to reduce regulatory friction that can obscure accountability and invite regulatory arbitrage—where market participants exploit jurisdictional gaps to avoid stricter rules. In this sense, the project echoes a broader policy objective to shore up market integrity while preserving competitive dynamics for innovation hubs, including decentralized finance and tokenized asset markets.

Academics and industry observers have long argued that the lack of a cohesive taxonomy complicates risk assessment and compliance programs. Clearer categorization of crypto assets helps exchange operators, wallet providers, and liquidity pools determine which agency oversees which activity and what standards apply. The conversation also intersects with legislative efforts on market structure that seek to formalize roles between agencies, potentially shaping how platforms list and trade digital commodities and related derivatives. In short, harmonization efforts are as much about governance clarity as they are about regulatory efficiency.

The remarks also touch on the evolving treatment of other market concepts, including event contracts and prediction markets. Selig indicated that the CFTC would reexamine existing rules that have restricted certain political and sporting event contracts, aiming to strike a balance between market certainty and compliance with ongoing litigation. This is part of a broader trend toward modernizing the agency’s toolkit to accommodate new financial products while maintaining robust consumer protections.

As regulators move to sharpen the boundaries of oversight, the industry will be watching how harmonization efforts translate into practical guidance. The SEC’s Project Crypto, first unveiled in mid‑2023 and subsequent to a July launch noted in industry coverage, seeks to separate certainty from ambiguity in a rapidly evolving landscape. The joint push is also linked to broader congressional activity around a market structure framework, including the Digital Commodity Intermediaries Act, which aims to codify who does what in a redefined digital asset ecosystem. The conversation reflects a realization among policymakers that a coherent framework could better guide innovation, while ensuring that investors have access to consistent protections and transparent market data.

In framing the discussion, Selig emphasized that the goal was not to erase statutory boundaries but to remove duplication that fails to improve market integrity. This echoes a recurring theme in regulator rhetoric: cooperation and clarity, rather than turf battles, will better serve the public and the industry. The push also acknowledges the modern reality of a global crypto market, where cross‑border activity and rapidly evolving products demand a coherent domestic structure that can adapt without sacrificing core safeguards.

What to watch next

Follow the SEC and CFTC for a joint framework or taxonomy release resulting from Project Crypto collaboration, and monitor any cross‑agency white papers or public guidance updates.

Legislative progress on the Digital Commodity Intermediaries Act, including potential votes in the Senate and alignment with the Banking Committee, will shape the regulatory timetable.

Nomination developments for CFTC commissioners and other leadership positions could influence the pace and direction of market‑structure reforms.

Any concrete policy clarifications on prediction markets, event contracts, and other crypto‑adjacent products will signal how the agencies intend to regulate novel financial instruments.

Sources & verification

SEC Officials discuss harmonization of crypto regulation: sec.gov/newsroom/meetings-events/sec-cftc-harmonization-us-financial-leadership-crypto-era

Project Crypto launch context and SEC leadership remarks: cointelegraph.com/news/sec-chair-atkins-announces-project-crypto

Live Senate markup and bipartisan momentum on crypto market structure bills: cointelegraph.com/news/live-senate-markup-crypto-market-structure-bill

Discussion of issuer vs third‑party tokenized securities and related guidance: cointelegraph.com/news/sec-breaks-down-tokenized-securities-into-two-categories-new-guidance

How crypto laws changed in 2025 — and how they’ll change in 2026 (magazine feature cited in coverage): cointelegraph.com/magazine/how-crypto-laws-changed-2025-further-2026

Harmonizing oversight and the road ahead

The partnership between the CFTC and SEC represents a pragmatic response to a market that has long argued for clarity over ambiguity. By pursuing a shared taxonomy and a coordinated regulatory posture, the agencies aim to reduce compliance duplication and eliminate conflicting interpretations that can deter legitimate investment, innovation, and market participation. The approach is not about loosening protections but about delivering predictable rules that can withstand rapid technological shifts. For participants—from exchanges and wallet providers to developers and institutional traders—clearer lines of authority and standardized expectations could lower the cost of compliance and improve risk assessment.

In parallel, the political process around market structure legislation continues to unfold, with lawmakers weighing amendments and governance standards that could influence regulatory dynamics for years to come. The tension between immediate oversight fixes and longer‑term governance reforms remains a central theme as regulators seek to balance rapid innovation with investor protection. If the harmonization effort succeeds, it could set a template for how the United States governs digital assets in a way that preserves market integrity while inviting responsible innovation and participation from global firms and retail investors alike.

This article was originally published as CFTC Teams Up with SEC for Agency’s Project Crypto on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Talos, the New York–based digital asset infrastructure provider, has secured a $45 million extension to its Series B round, lifting the round’s total proximity to $150 million and valuing the company at roughly $1.5 billion. The extension brings in new strategic investors including Robinhood Markets, Sony Innovation Fund, IMC, QCP and Karatage, while retaining participating backers such as a16z crypto, BNY Mellon and Fidelity Investments. Talos said the fresh capital would accelerate product development across its trading, portfolio management, execution, treasury and settlement tools, and help broaden support for tokenized traditional assets on its platform. Founded in 2018, Talos has positioned itself as a backbone for institutional crypto operations, offering software that enables clients to trade, manage and settle digital asset positions across exchanges, OTC desks, custodians and other liquidity providers.

The company highlighted that revenue and its client base have doubled over the past two years, and it has expanded its ecosystem through an integration with BlackRock’s Aladdin system. In addition to organic growth, Talos has pursued acquisitions to broaden its reach, most notably acquiring the blockchain analytics firm Coin Metrics in a $100 million deal in July. The strategic investors joining the round reflect a broader trend of traditional financial institutions and fintechs seeking deeper exposure to crypto infrastructure and regulated, enterprise-grade rails.

The fundraising dovetails with a broader push by payments and infrastructure players to secure the tooling needed for institutional-grade crypto markets—from settlement and custody to risk controls and compliance. Talos’ leadership argues that the market has moved beyond basic trading tools toward end-to-end workflows that can accommodate regulated assets and tokenized securities, a shift that has implications for liquidity, capital efficiency and governance in a sector still finding its regulatory footing.

The company noted that its revenue trajectory and client base have benefited from expanding integrations, including a link-up with BlackRock’s Aladdin platform, which signals growing interoperability between crypto-native tech stacks and traditional asset management systems. Beyond organic expansion, Talos has used acquisitions to broaden its data, analytics and settlement capabilities, positioning itself as a go-to provider for institutions seeking a unified, scalable operating model for digital assets.

In relation to the strategic funding, Talos’ chief executive Anton Katz said the round was extended to accommodate high levels of interest from strategic partners, underscoring the continued appetite among traditional institutions to engage with crypto infrastructure on a deeper level. The company’s 2018 founding story remains central to its narrative: it built software that enables institutional clients to trade, manage and settle digital asset positions across a network of counterparties, custodians and liquidity providers, aiming to streamline processes that have historically been fragmented and manual.

Key takeaways

Talos extended its Series B by $45 million, bringing the round to approximately $150 million and valuing the company around $1.5 billion.

New strategic investors include Robinhood Markets, Sony Innovation Fund, IMC, QCP and Karatage, with a16z crypto, BNY Mellon and Fidelity Investments continuing as backers.

The funds are earmarked for expanded product development across trading, portfolio management, execution, treasury and settlement tools, plus support for tokenized traditional assets.

Talos has doubled revenue and client counts over the past two years and added integration with BlackRock’s Aladdin system.

The company completed the $100 million Coin Metrics acquisition in July, broadening its data and analytics capabilities in support of institutional workflows.

Sentiment: Neutral

Market context: The ongoing interest in crypto infrastructure funding reflects a shift toward regulated, scalable rails that can support institutional appetite for digital assets, even as market liquidity and macro sentiment fluctuate.

Why it matters

The Talos extension underscores a broader trend in crypto markets: the maturation of infrastructure providers that can deliver enterprise-grade, compliant workflows for institutions. By expanding capacity across trading, portfolio management, execution, treasury and settlement, Talos aims to reduce the friction and risk that have historically accompanied institutional participation in digital assets. As more institutions seek to integrate crypto into their traditional risk and compliance frameworks, providers that can demonstrate interoperability with established platforms—like BlackRock’s Aladdin—become increasingly indispensable.

The strategic investor lineup signals confidence from diverse corners of the financial world. Robinhood Markets brings a retail-leaning fintech perspective that, when paired with traditional institutions like Fidelity and BNY Mellon, can help Talos bridge customer segments while maintaining robust risk controls. Sony Innovation Fund’s participation points to a broader tech and media ecosystem interest in crypto rails, while IMC, QCP and Karatage bring trading expertise and capital markets insight that can accelerate product-market fit for institutional clients.

The Coin Metrics acquisition, announced earlier in the year, extends Talos’ footprint into data-driven decision-making and on-chain analytics. In a space where data integrity and visibility are critical for risk management and regulatory reporting, the addition of robust analytics can improve settlement accuracy, reconciliation, and governance. The Aladdin integration further reinforces the narrative that risk platforms historically used by traditional asset managers can be extended into crypto markets, reducing the friction that has often deterred larger funds from participating in digital asset markets.

What to watch next

Timing and impact of the Series B extension: when the additional capital is fully deployed and how it translates into product milestones.

Milestones related to BlackRock Aladdin integration: concrete use cases, pilots, and client-adoption signals.

Progress of tokenized traditional assets: approvals, custody readiness, and regulatory-compliant issuance pipelines.

Impact of Coin Metrics integration: new data products, analytics dashboards, and cross-platform interoperability.

Potential future funding rounds or strategic partnerships central to expanding Talos’ footprint across equities, fixed income or cross-border settlement rails.

Sources & verification

PR Newswire — Talos extends Series B to $150m in strategic fundraise

Talos official site — The Talos Story

Coin Metrics acquisition coverage — July announcement

Embedded YouTube video in Talos materials

Talos expands Series B as institutional crypto rails attract strategic partners

Talos’ latest capital raise marks a meaningful step in the ongoing consolidation and professionalization of crypto infrastructure. The $45 million extension to the Series B round increases the total size of the financing and reaffirms investor confidence in Talos’ ability to deliver scaleable, compliant technology for institutional clients. The new investors—Robinhood Markets, Sony Innovation Fund, IMC, QCP and Karatage—join a lineup that already included heavyweights such as a16z crypto, Fidelity and BNY Mellon, underscoring a convergence of fintech, asset management and traditional trading ecosystems around crypto rails.

From a product perspective, the funds target expanded development across the core modules that institutions rely on to operate digital asset programs. Talos’ platform is designed to manage the full lifecycle of crypto positions—from order routing and execution to settlement and treasury management—while connecting with a variety of counterparties, exchanges and custodians. The emphasis on tokenized traditional assets reflects a broader industry push to bring real-world assets onto blockchain-based settlement rails, enabling more efficient, auditable, and regulated processes. The expansion equips Talos to push further into this space, offering clients a unified environment where tokenized securities and other regulated assets can be traded and settled with the same controls that financial institutions expect for conventional markets.

The Aladdin integration with BlackRock is a notable milestone. It signals a practical alignment between crypto-native infrastructure and legacy risk platforms, potentially easing onboarding for multi-asset managers who require consolidated risk dashboards and governance controls. This interoperability can lower the barriers for institutions to participate in digital asset markets at scale, as it aligns crypto operations with the governance and reporting standards familiar to traditional funds.

Beyond product development, the strategic investor cohort points to a broader ecosystem-building effort. Robinhood Markets’ involvement can help Talos deepen its reach into the retail-to-institution continuum, while Sony’s Innovation Fund and IMC bring long-standing capital markets experience to bear on Talos’ product roadmap. QCP and Karatage, both aligned with high-frequency and quantitative trading, add complementary expertise to optimize execution workflows and liquidity access. This mix of backers suggests a shared belief that robust, regulated rails are essential to sustaining institutional confidence in crypto markets as they continue to evolve.

In July, Talos completed its acquisition of Coin Metrics for $100 million, expanding its data and analytics capabilities at a time when reliable on-chain data and risk metrics are increasingly essential for institutional diligence. The combination of data, analytics, and settlement tooling can create a more cohesive platform for clients seeking end-to-end visibility and control over digital asset programs. Taken together, the fundraising and acquisitions highlight a strategic trajectory that prioritizes scale, interoperability and regulatory alignment—factors that many market participants deem crucial for the next phase of crypto market maturation.

As competition in crypto infrastructure heats up, Talos’ path illustrates how platform providers are seeking to differentiate themselves through scale and robust, enterprise-grade features. The firm’s leadership has portrayed this move not merely as a funding exercise but as a signal of the industry’s transition toward higher-capital, higher-assurance rails that can sustain longer-cycle adoption in a regulatory-tinged environment. For institutional investors and builders alike, Talos’ progress will be a useful lens into how the crypto market is evolving beyond the hype of early-stage funding and toward a more integrated financial services ecosystem.

This article was originally published as Talos Extends Series B to $150M, with Robinhood and Sony backing on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Escape Velocity, a crypto-focused venture capital firm, has raised nearly $62 million for a second fund dedicated to Decentralized Physical Infrastructure Network (DePIN) projects and other crypto-native ventures. The vehicle closed in December and counts notable backers among its roster, including Marc Andreessen of Andreessen Horowitz and Micky Malka of Ribbit Capital, according to a Fortune exclusive. A fund-of-funds participant, Cendana Capital, contributed about $15 million to the vehicle, underscoring cross-sector support for infrastructure-backed crypto networks. The fundraising underscores ongoing appetite for DePIN, even as broader crypto and technology funding cools, with Escape Velocity signalling a longer-term strategy focused on tangible asset networks rather than purely speculative tokens.

Key takeaways

The fund marks Escape Velocity’s second DePIN-focused vehicle and closed in December, with marquee investors including Marc Andreessen and Micky Malka; Cendana Capital contributed $15 million.

Escape Velocity’s latest data-backed push aligns with research showing DePIN’s combined market capitalization around $10 billion and on-chain revenue of about $72 million in 2025, per the joint State of DePIN report from Escape Velocity and Messari.

Despite broad token-price declines across the sector, revenue-generating DePIN networks have proven more durable, suggesting real-world utility can persist even as markets reprice risk assets.

Analysts point to regulatory-clarity hubs and deployment demand—especially in the United Arab Emirates and Singapore—as accelerants for DePIN adoption beyond traditional startup ecosystems.

The fundraising illustrates a bifurcated market: capital for assets and infrastructure tied to the physical world, rather than speculative token launches alone.

Sentiment: Neutral

Market context: The news reflects selective venture activity in crypto-native sectors where tangible utility meets regulatory clarity. While broad funding for crypto remains constrained, DePIN-focused capital shows a willingness to back long-horizon infrastructure projects that integrate physical assets with blockchain protocols.

Why it matters

For builders and operators of DePIN networks, Escape Velocity’s new fund signals a continued belief in the viability of infrastructure-backed crypto ecosystems. DePIN projects strive to monetize the utility of real-world assets—ranging from sensor networks to edge computing and broader IoT deployments—by aligning them with decentralized incentives and governance. The presence of a notable fund backing such ventures provides a pathway for more sustained early-stage capital, allowing teams to de-risk proof-of-concept deployments and scale use cases that require tangible physical deployments rather than purely online traction.

From an investor perspective, the move delineates a clear divergence within crypto markets. While speculative tokens have faced sharp declines from their late-2024 peaks, networks anchored to real-world infrastructure continue to generate on-chain activity and revenue that can outlast sentiment-driven cycles. Industry observers note that DePIN’s maturation hinges on regulatory clarity and deployment cadence; jurisdictions like the UAE and Singapore are highlighted as conducive environments for pilots and partnerships with utilities, telecoms, and asset owners. The evolving regulatory backdrop could determine whether DePIN transitions from a novelty to a repeatable, scalable model across varied asset classes.

The broader industry context matters because it frames how risk capital evaluates opportunity. The DePIN thesis hinges on the idea that tokenized incentives can align disparate stakeholders—owners of physical assets, operators of networks, and end users—around shared value creation. Yet the literature also emphasizes the need for real-world utility over hype, a sentiment echoed by practitioners who warn against token launches built on optimism rather than deliverables. In this environment, Escape Velocity’s commitment to backing founders with tangible deployment plans—rather than purely token-centric ventures—represents a cautious, infrastructure-first approach that could shape future venture activity in the space.

The market capitalization of DePIN projects has fallen below $9 billion, compared to a peak of more than $43 billion in late 2024. Source: DePINscan

Beyond capital, the DePIN narrative is increasingly about where networks can operate and be monetized. The joint State of DePIN report, produced by Escape Velocity and Messari, underscores that while token prices across the sector have tumbled, revenue-producing networks have continued to function. The sector’s overall on-chain revenue in 2025 is estimated at tens of millions, a modest figure in the context of broader crypto markets, but a signal of ongoing activity at the intersection of physical infrastructure and digital incentives. The report also highlights a return-to-basics emphasis among builders: create real-world utility, demonstrate scalable deployment, and then seek institutional alignment around governance and monetization. These dynamics help explain why a late-2020s funding cycle has revived around DePIN despite a broader macro pullback in risk assets.

Analysts also note that a fair share of DePIN tokens remain deeply discounted versus their all-time highs, a reality that reflects the dislocation between speculative cycles and real-world adoption. Yet the durability of certain DePIN networks—especially those tied to essential services or infrastructure—points to a potential inflection if deployment velocity accelerates and regulatory clarity continues to improve. In practice, this could translate into more pilots in regulated markets and greater collaboration with public or semi-public bodies seeking resilient, asset-backed technology layers for critical functions.

In sum, Escape Velocity’s fund addition reinforces a bifurcated market dynamic: capital continues to flow into infrastructure-focused crypto ventures where there is measurable asset-backed value, while token-only narratives face increasing scrutiny. The UAE and Singapore emerge as notable catalysts in this shift, offering clearer rules and faster execution paths for projects that seek to combine physical networks with blockchain-enabled incentives. As DePIN evolves from concept to execution, observers will be watching for concrete deployments, partnerships, and regulatory signals that validate the model beyond market symbolism.

What to watch next

Announcements of DePIN network deployments and pilot projects funded by Escape Velocity’s new vehicle in 2026.

New partnerships or co-investments with UAE- or Singapore-based institutions aimed at scaling DePIN deployments.

Updated data from the State of DePIN and DePINscan reflecting deployment activity and on-chain economics.

Regulatory developments in major markets that clarify the treatment of tokenized infrastructure projects and associated financing structures.

Follow-on rounds or exits from Escape Velocity-backed DePIN projects to gauge real-world traction beyond fundraising narratives.

Sources & verification

Fortune exclusive reporting on Escape Velocity’s $62 million fund and December close, with investor names including Marc Andreessen and Micky Malka.

Escape Velocity and Messari, State of DePIN report detailing ~US$10 billion sector market cap and ~US$72 million in on-chain revenue in 2025.

DePINscan data illustrating market capitalization below US$9 billion and historical peak above US$43 billion in late 2024.

Regulatory context in the United Arab Emirates and Singapore described as favorable for DePIN deployment.

Cointelegraph coverage referenced in the source material discussing HashKey Capital’s bullish stance on DePIN.

This article was originally published as Escape Velocity Raises $62M for DePIN Fund as Crypto VC Slows on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin price volatility continues to reflect a tug-of-war between leveraged bets and broader macro caution. After a 26% slide in the prior three months, BTC retested the $84,000 support as tech equities and precious metals jockeyed for relative safeties. The move comes amid a sharp drawdown in Microsoft’s stock and a wave of risk-off trading that has traders weighing the interplay between margin funding, futures dynamics, and the prospect of liquidity-driven squeezes. Even as some traders piled into bullish margin positions on certain venues, the overarching market narrative remains wary, with on-chain metrics and derivatives signaling a nuanced picture rather than a clear, immediate bullish recovery.

Key takeaways

Bitfinex margin long positions surged to 83,933 BTC, a two-year high, signaling renewed demand for leveraged exposure even as BTC prices slipped.

Despite the margin buildup, arbitrage mechanics imply the net effect on prices is likely neutral, since longer-term carry requires offsetting futures sales to fund the risk spread.

Bitcoin futures maintain a typical annualized premium of 5%–10% versus spot, with bullish regimes often pushing this metric above the 10% neutral threshold; the last time it breached that level was in early February 2025 around $103,500.

Gold traded with heightened volatility, slumping about 8% in minutes before rebounding, while ETF liquidity in GLD hit record volumes, underscoring a search for safe harbors amid AI-sector chatter and equity selling pressure.

The day’s price action included roughly $360 million in BTC futures liquidations, underscoring the fragility of near-term bets and the potential for rapid dislocations if leverage flames out.

Demand for margin exposure on Bitfinex reached a level not seen since November 2023, with the exchange highlighting a robust appetite for risk on loaned BTC. Borrowing costs remained remarkably low—the annualized rate stayed under 0.01% as Bitfinex requires collateral that exceeds the loan value. The dynamic reflects a market where participants prefer margin to futures to dodge carry costs that can run around 5% per year for BTC futures, creating an incentive to balance positions across markets rather than pure directional bets.

Bitcoin 2-month futures annualized premium. Source: Laevitas.ch

The broader forward curve continues to reflect investors’ attempts to monetize longer settlement cycles in a market where liquidity can swing quickly. Monthly BTC futures typically trade at a 5%–10% annualized premium to spot, compensating for longer settlement windows and the risk premium associated with holding positions into delivery. A subset of traders interpret sustained premiums above 10% as a bullish signal, even as spot prices waver. The last time this premium moved decisively into that higher band occurred in early February 2025 when BTC traded near $103,500, a level that now looks distant in the current cycle but remains a reference point for traders mapping out upside scenarios.

Tickers mentioned:

Tickers mentioned: $BTC, $MSFT, $GLD

Sentiment: Bearish

Price impact: Negative. The price action and the tilt toward risk-off behavior weighed on BTC, even as margin activity suggested hedging and leverage dynamics rather than a straightforward bullish breakout.

Trading idea (Not Financial Advice): Hold. Near-term macro headwinds and persistent leverage pressure suggest caution, even as some demand for margin exposure persists on select venues.

Market context: The move comes as technology equities faced renewed pressure (Microsoft fell around 11% on concerns over capex and cloud revenue), while gold traded with heightened volatility and ETF volumes surged. This confluence points to a market environment where risk appetite remains fragile, and capital allocation is sensitive to evolving growth signals and inflation expectations.

Why it matters

The latest dynamics around margin lending illuminate a nuanced feature of the current cycle: liquidity, not just price momentum, is driving behavior. Traders appear to be balancing the desire for upside exposure with the cost of carrying those positions over longer periods. When borrow costs are so low that margin loans can be extended cheaply, the temptation to test the upside grows, yet the potential for sharp liquidations remains a real risk if the broader market turns decisively risk-off. The juxtaposition of rising margin longs with a conclusive price downturn spotlights a market in which leverage can amplify moves on both sides, depending on order flow and liquidations in related futures markets.

Beyond BTC-specific mechanics, the macro narrative features a convergence of AI sector skepticism and traditional safe-haven flows. Industry leaders have warned about overvaluation in high-growth tech and AI-related equities, even as demand for AI capabilities continues to grow. Analysts cited by mainstream outlets highlighted the energy intensity and capital requirements of expanding AI infrastructure, which may influence investors to reweight portfolios, favoring assets perceived as stores of value during this period of uncertainty. In parallel, gold and related ETFs witnessed heavy trading, signaling that non-crypto risk-averse investors still seek hedges amid broad market volatility.

All of this unfolds as market participants monitor on-chain signals and derivative metrics for hints of a broader shift. While margin activity on Bitfinex underscores a continued appetite for leverage, the absence of a clear, sustained breakout in BTC price suggests that the current environment remains dominated by hedging and risk management rather than a decisive bullish narrative.

What to watch next

Monitor BTC price levels around the $84,000 support and any return to that zone if risk appetite improves or deteriorates further.

Watch margin lending data on major venues for signs of changing demand for leverage, including any shifts in borrowing costs that could alter carry dynamics.

Track the futures term structure, especially the 2-month and 3-month premiums, for shifts away from 5%–10% ranges and any break above 10% sustained over multiple sessions.

Observe gold price moves and GLD liquidity as a gauge of risk-off sentiment and potential hedging shifts in response to AI valuations and tech earnings.

Follow earnings and guidance from major tech players and AI investments as reported by mainstream outlets to assess whether the macro backdrop improves or worsens for risk assets.

Sources & verification

Bitcoin margin longs and market activity on Bitfinex; trend data and lending costs cited by the reporting outlet’s coverage.

TradingView and Laevitas.ch data for futures premiums and annualized carry metrics.

UK/US media coverage of Microsoft’s earnings commentary, including capital expenditure and cloud revenue context.

BBC reporting on AI-sector valuation concerns and executive commentary from Sundar Pichai.

Fortune reporting on Microsoft’s performance obligations and OpenAI linkage.

Bitcoin price slide amid margin dynamics and macro risk

Bitcoin (CRYPTO: BTC) volatility has reasserted itself as a function of both leverage and macro risk sentiment. The latest cascade saw the crypto benchmark dip toward the $84,000 region, a level that marks a persistent support zone after several weeks of fluctuations. Traders watching the tape note that the move coincided with a broader risk-off posture that spilled into technology stocks and even gold, where liquidity ebbed and flowed in a way that suggested market participants were rebalancing risk rather than committing to a definitive directional bet.

On the margin front, Bitfinex reported a surge in long positions that touched a multi-quarter peak, underscoring the appetite for leveraged exposure despite a price retreat. The net effect of this activity, however, remains nuanced. The prevailing view among market participants is that the demand for margin loans should be viewed in the context of arbitrage: to implement cash-and-carry strategies that exploit the price gap between futures and spot markets. This dynamic can render a rising margin long tally relatively neutral from a price-discovery perspective, because savvy traders simultaneously unwind offsetting futures, thereby dampening net directional pressure. The result is a market that looks busy on the activity front but may not translate into a sustained upside without a fundamental shift in risk sentiment and liquidity conditions.

Beyond on-chain and derivatives signals, macro narratives around AI valuations and corporate capex contribute to an environment of heightened caution. Analysts have flagged concerns about overvaluation in AI-related equities and the energy demands of expanding AI infrastructure, a point echoed by major tech executives. The crosswinds between speculative fervor in certain corners of the market and more conservative positioning elsewhere create a landscape where BTC’s price may move in fits and starts as traders weigh risk versus reward. In this context, the recent price weakness should be viewed through the lens of risk management and liquidity provisioning rather than a straightforward indicator of a new bull market.

Looking ahead, traders and investors will be watching for shifts in the carry trade, liquidity depth, and the resilience of gold-related hedges as defensive bets. If risk appetite improves, BTC could test resistance levels anew; if it remains fragile, it could drift within a tight range as hedging and arbitrage slow the pace of violent moves. The unfolding narrative will likely hinge on macro signals, central bank commentary, and the evolving balance sheets of major technology and AI-related leaders, all of which have the potential to reframe crypto exposure in the broader market landscape.

This article was originally published as Bitcoin Longs Hit 2-Year High on Bitfinex: Bullish or Bearish? on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

21Shares has expanded its European product lineup with a Jito-staked Solana exchange-traded product, providing listed exposure to the SOL token while embedding staking incentives. The JSOL ETP, priced in USD and EUR, is now trading on Euronext Amsterdam and Euronext Paris, and is promoted as the first Europe-listed ETP backed by JitoSOL. The vehicle holds JitoSOL directly and incorporates staking rewards into its net asset value, offering institutions a regulated, liquid avenue to participate in Solana’s liquid staking framework.

Issued by the Jito Network, JitoSOL represents SOL deposited into a liquid staking program on the Solana network, where staked tokens remain transferable rather than locked. Holding JitoSOL enables investors to earn staking yield through a liquid token without directly delegating to validators or managing on-chain staking operations.

In a series of posts on X on Thursday, Jito said the product offers institutional investors regulated access to JitoSOL while capturing staking and MEV-related rewards.

Source: Jito_sol

The European launch extends the prior US-facing initiative, building on last year’s JitoSOL ETF filing from VanEck in the United States and reflecting a broader push to broaden institutional access to liquid staking infrastructure. 21Shares notes that it already operates more than 55 crypto ETPs across European venues and manages roughly $8 billion in assets under management, underscoring its role as a long-standing bridge between traditional markets and digital-asset products. The issuer, which began with a physically backed crypto ETP in 2018, has since become a cornerstone for regulated crypto exposure in Europe.

Jito Network, which started in 2021, has carved out a niche around liquid staking and validator infrastructure on Solana. At the time of writing, its JitoSOL token carried a market capitalization around $1.67 billion, per CoinGecko data, illustrating the liquidity and scale of the liquid-staking ecosystem connected to Solana.

CoinGecko

Related: Solana validator count drops 68% as node costs squeeze small operators

Solana staking ETFs launch in US, but liquid staking still up for debate

In the United States, regulators have approved several Solana staking ETFs, though liquid staking products remain barred from the domestic market. The launch activity has included notable first-day inflows and growing asset bases for staking-focused vehicles. In July, the first Solana staking ETF listed in the country attracted about $12 million in net inflows on its debut trading day, while in October Bitwise’s Solana staking ETF opened with more than $220 million in assets. Grayscale subsequently debuted a staking-enabled Solana spot ETF in the US.

Industry participants have argued that liquid staking could improve capital efficiency and reduce rebalancing frictions for funds, prompting calls in July for regulators to permit Solana-backed liquid-staking ETPs. In the months that followed, VanEck filed for a US-listed ETF designed to hold JitoSOL, a move that signaled continued interest in bridging Jito’s liquid-staking framework with traditional financial markets.

Lucas Bruder, CEO of Jito Labs, said the company expects JitoSOL-based products to receive approval in the US and noted growing interest from markets in Asia and the Middle East. He emphasized that broader education around digital assets and proof-of-stake mechanics remains essential to unlocking broader adoption of Solana’s infrastructure advantages.

This European development sits within a broader pattern of crypto ETP growth and market access expansion across the continent. 21Shares has leveraged its European footprint to bring regulated exposure to a wide range of digital assets, and the JitoSOL-backed ETP is positioned as a test case for how liquid staking assets might be integrated into regulated product wrappers for institutional investors.

Why it matters

For investors seeking regulated access to Solana’s liquidity-enhanced staking, JSOL represents a concrete option that combines price exposure to SOL with ongoing staking yields. By holding JitoSOL directly, the ETP aims to reflect staking rewards in its NAV, potentially delivering yield dynamics that are closer to on-chain staking economics than traditional spot exposure alone. The European listing on Euronext Amsterdam and Paris broadens the geographical reach of regulated crypto products, reinforcing Europe’s position as a center for crypto-asset wrappers and exchange-traded products.

From the issuer’s vantage point, the launch demonstrates how institutional-grade vehicles can package innovative on-chain mechanics—such as liquid staking and MEV capture—into familiar investment formats. 21Shares has built a diversified catalog of ETPs since its 2018 inception, underscoring a strategic emphasis on scalable, compliant access to digital assets for traditional finance counterparties. The collaboration with Jito Network also signals an ongoing push to connect liquid staking infrastructure to traditional market infrastructure, a bridge that could accelerate institutional participation in Solana’s ecosystem.

For Solana and the broader crypto ecosystem, the move signals continued demand for regulated exposure to high-yield staking models. While the US debate over liquid staking continues, Europe’s adoption of JitoSOL-based products could help unlock cross-border liquidity and diversify funding sources for validators and network operators, potentially contributing to capital efficiency in the Solana ecosystem.

What to watch next

Regulatory progress on liquid staking ETPs in the United States, including potential changes to SEC policy and any pending filings for JitoSOL-based funds.

Whether additional European exchanges will list further JitoSOL-backed products or similar liquid-staking instruments from other issuers.

Performance and NAV tracking of JSOL relative to actual SOL staking yields and MEV-related rewards, particularly during periods of network activity spikes.

Any new filings or approvals for US-listed funds that hold JitoSOL or other liquid-staking assets, signaling broader institutional appetite in North America.

Sources & verification

GlobeNewswire: 21Shares launches Jito Staked SOL ETP (JSOL) offering enhanced yield exposure to Solana

Jito Network posts on X detailing the regulatory-access claims for JitoSOL

CoinGecko data for JitoSOL market capitalization

Solana price index and related coverage

This article was originally published as 21Shares Lists JitoSOL-Backed Solana ETP Across Europe on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Copper, a London-based digital asset custodian backed by Barclays, is weighing a potential initial public offering as investor appetite for cryptocurrency infrastructure companies grows. The discussions, reported by CoinDesk citing sources close to the talks, implicate a lineup of heavyweight banks including Deutsche Bank, Goldman Sachs and Citigroup. Copper did not confirm active plans for a listing, with a spokesperson saying the firm is not currently planning an IPO, though they also declined to comment on whether early discussions are underway.

Founded to provide institutional-grade custody, settlement and collateral management for digital assets, Copper aims to help financial institutions store and move crypto while mitigating counterparty risk. The company has previously built out a network of strategic relationships that position it as a core piece of the crypto infrastructure stack. In recent months, Copper’s profile has risen as institutions seek regulated, trustworthy on-ramps into the digital asset ecosystem.

Historically, Copper has strong ties to traditional finance. Cantor Fitzgerald selected Copper as a Bitcoin (Bitcoin (CRYPTO: BTC) custody partner, a move that underscored the dealer’s confidence in Copper’s ability to safeguard digital assets for premium clients. Copper has also collaborated with Coinbase to facilitate off-exchange settlement for institutional clients, expanding its reach beyond on-chain settlements and into more traditional settlement workflows.

BitGo (BTGO) stock price has declined sharply over the past five trading sessions. Source: Yahoo Finance

Institutional interest in digital assets has persisted as US regulation evolves, nudging more actors toward regulated, bank-like infrastructure. If Copper were to pursue a public listing, it would position itself alongside rivals and peers that aim to provide the plumbing for crypto markets—clearing, custody and collateral management—much as traditional clearinghouses and custodial banks serve conventional finance.

Related: Crypto’s bank-like turn puts JPMorgan on edge

BitGo IPO highlights crypto’s growing momentum on Wall Street

One prominent data point illustrating the momentum is BitGo’s recent public-market debut. The company priced its initial public offering at $18 per share after raising more than $200 million in gross proceeds from the sale of 11.8 million Class A common shares. The listing marks another milestone in the ongoing integration of crypto-focused firms into traditional equity markets.

In the days following the pricing, BitGo’s stock moved higher in early trading but subsequently retraced. It later traded below its IPO price, leaving the company with a market capitalization around $1.4 billion. The volatility observed in BitGo’s trading underscores the broader challenge facing new entrants into the public markets in the crypto space, even as investor interest remains robust and headline activity remains high.

Beyond BitGo, several crypto firms have explored or pursued public listings in recent years. Circle, Gemini, Bullish and Figure Technologies have all toyed with IPO plans or funding-driven exits, while Kraken and Ledger have been publicly discussed as potential candidates. The sector’s path to the public markets is unlikely to be linear, with varying valuations, regulatory reviews and capital-market conditions shaping outcomes for each player.

Source: Henri Arslanian

As the sector moves deeper into public markets, investors are watching for how these companies align with global regulatory expectations, how their cash-flows hold up under scrutiny, and how their governance structures evolve to address the risks inherent in crypto exposure. The trajectory of Copper, whether it directly pursues an IPO or remains private while pursuing strategic partnerships, will be read as a barometer for the broader appetite among institutional buyers for crypto infrastructure services.

For market participants, the ongoing wave of listings reinforces a key theme: the crypto economy is increasingly interwoven with traditional finance. Custodians, settlement engines and collateral-management platforms are emerging as essential infrastructure, mirroring the roles of central counterparties and custodians in established markets. The evolution of these businesses will influence liquidity, risk management, and capital allocation across the crypto ecosystem as more institutions seek regulated, efficient access to digital assets.

In a landscape where regulation and market structure are still taking shape, the real test lies in durability and governance. If Copper progresses toward a public listing, it will be watched for how it translates its institutional-grade capabilities into scalable, auditable processes that satisfy both investors and regulators. The industry is watching closely to see whether the IPO path can deliver the long-term reliability that institutional actors demand, while sustaining the innovation that drives digital-asset adoption forward.

What to watch next

Progress of Copper’s public-listing discussions, including any formal statements or filings that clarify scope and timing.

Details on bank participants’ roles, potential underwriters, and any indicative timelines for a decision.

Regulatory developments that could affect custody and settlement providers operating in the United States.

Market reception to upcoming crypto infrastructure IPOs and any shifts in investor risk appetite.

Sources & verification

CoinDesk report on Copper exploring an IPO and the named banks involved.

Cantor Fitzgerald selecting Copper as a Bitcoin custodian (linked in prior reporting).

Copper’s collaboration with Coinbase for off-exchange settlement for institutional clients.

BitGo’s IPO pricing at $18 per share and the subsequent trading performance (Cointelegraph and Yahoo Finance coverage).

Broader coverage of crypto-focused IPOs and the ongoing consideration of other companies for public listings (Cointelegraph).

This article was originally published as Copper Explores IPO as Crypto Custody Captures Wall Street Interest on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin started the year with momentum but has since reversed course, slipping to a yearly low below 84,000 as futures deleveraging pressured prices. Analysts say the move reflects a broader corrective regime rather than a structural market breakdown, driven more by leverage in the derivatives space than by fresh selling in spot markets. The slide has erased early-year gains and raised questions about how long the current pullback may persist as liquidity conditions remain uneven and risk appetite shifts across trading venues.

Key takeaways

Bitcoin touched 83,600, testing the lower bound of a 10-week consolidation range that has framed price action since mid-November 2025.

Taker sell volume surged to about $4.1 billion in a two-hour window across multiple exchanges, underscoring futures-driven pressure rather than broad spot selling.

The decline wiped roughly $570 million in long positions, illustrating how leveraged bets amplified the move during New York trading hours.

Analysts view the action as a corrective unwind within a longer-term regime, with attention turning to whether buyers can defend key support levels in the near term.

Tickers mentioned: $BTC

Sentiment: Neutral

Price impact: Negative. The slide from about $88,000 to the mid-$83,000s marked a sharp move that compressed long-position exposure and raised the prospect of further retracements if support gives way.

Market context: The move aligns with a broader pattern of leverage unwinds in crypto markets, where futures-driven dynamics and liquidity conditions continue to shape price responses even as spot demand shows episodic support.

Why it matters

The latest price action highlights how Bitcoin remains sensitive to the balance between leveraged risk in the futures market and underlying spot demand. When taker sell pressure spikes, it often signals a liquidity-driven adjustment rather than a fundamental shift in long-term value. The swift capitulation to 83,600 and the subsequent pressure on surrounding support levels test traders’ confidence in a swift rebound, especially given the documented trend of heavy derivatives activity that has previously preceded volatility spikes.

From a risk-management perspective, the episode serves as a reminder that even in a market displaying periods of resilience, a sizable chunk of the recent price action has been driven by leverage unwinds. The $4.1 billion in taker sell volume observed over a short window points to rapid hedging and forced liquidations that can overshoot near-term price targets. For investors and funds, the event underscores the importance of margin discipline and the need to monitor changes in futures open interest as potential early signals of how much longer the current correction might endure.

On-chain and derivatives data have repeatedly shown that these episodes are not simply about a cascade of steady selling. Rather, they are often concentrated events that reflect a shift in risk sentiment among large market players. The Lookonchain update, citing a prominent trader nicknamed BitcoinOG, illustrated the scale of losses incurred by a single actor whose positions swung dramatically over two weeks, illustrating how outsized strategies can amplify drawdowns during downturns. Such instances underscore the dialog between on-chain activity and derivatives markets in mapping the health of the broader ecosystem during periods of stress.

“The market just crashed, and #BitcoinOG (1011short) is taking heavy losses on his massive long positions. In just 2 weeks, he has lost $138M, with total profits dropping from $142M+ to just $3.86M.”

Bitcoin Taker Sell Volume. Source: CryptoQuant

The price action has kept Bitcoin (BTC) within a defined range since mid-November, with weekly closes historically capped between roughly $94,000 and $84,000. The latest test near the lower boundary raises the prospect of a deeper pullback if buyers fail to defend key support levels, though many expect a rebound to materialize once liquidity improves and risk appetite stabilizes. In addition to the immediate price dynamics, derivatives metrics have shown that declines in open interest have tended to align with local price lows, suggesting that the current leg of weakness may be more about leverage unwinding than a sustained trend reversal.

Bitcoin one-day chart. Source: Cointelegraph/TradingView

Analysts have anchored their broad interpretation in the context of a broader macro view: after a strong expansion phase in mid-2025, returns have cooled, and near-term momentum appears to have shifted toward a more cautious posture. The interplay between leveraged bets and spot purchases is a recurring theme in such environments, where price action can swing rapidly on hedging activity and shifting risk tolerances rather than on fundamental changes in cryptocurrency adoption or use cases. In several notable instances, declines in futures open interest have coincided with local price bottoms, underscoring the tendency for pullbacks to be driven by forced liquidations rather than a wholesale shift in investor sentiment.

As the market digests the latest move, participants will be watching how the price behaves around the 84,000 level and whether demand at that juncture can absorb the selling pressure without triggering another wave of margin calls. The dynamic remains a reminder that liquidity conditions and risk-off sentiment continue to play a central role in crypto markets, even as the underlying technology and use cases for Bitcoin (BTC) persist to evolve in the long run.

Where the story goes next

Next steps include monitoring whether the price can reclaim the 84,000–85,000 zone and whether any shift in futures activity signals a renewed appetite to push higher. Traders will likely scrutinize open interest dynamics for further signs of whether the recent deleveraging has run its course or if additional downside risk remains. On-chain indicators, particularly taker-volume metrics and liquidation data, will help gauge the severity and duration of the current contraction in leverage. In addition, any regulatory or macro catalysts that alter liquidity or market structure could accelerate or dampen the next phase of Bitcoin’s price journey.

What to watch next

Watch for a test of the 84,000 level over the next few sessions and assess whether buyers step in to defend it.

Monitor futures open interest changes for signs of renewed leverage risk or relief rallies.

Track on-chain taker volumes and liquidation flows to gauge the persistence of selling pressure.

Look for any liquidity-led regime shifts that could yield a stronger rebound if marketmakers return to more favorable risk conditions.

Sources & verification

CryptoQuant data on taker sell volume, highlighting the roughly $4.1 billion spike in a two-hour window across exchanges.

Lookonchain post documenting the losses of a prominent trader nicknamed BitcoinOG during the recent pullback.

Cointelegraph price analysis visuals and TradingView data referenced in the daily and weekly charts.

Observed range boundaries since November 17, 2025, defining the current 10-week consolidation zone.

This article was originally published as Bitcoin Dips to Yearly Low as Leverage Unwinds Under $85K on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin, the flagship asset in crypto markets, slid alongside equities and precious metals as a broad risk-off mood swept through markets on Thursday. The benchmark cryptocurrency breached the $85,000 threshold and extended losses toward two-month lows, with intraday prints around $83,156 on Bitstamp, according to TradingView data. The pullback added to a sense of renewed volatility that has characterized crypto trading as liquidity conditions tightened in late January. At the same time, gold spiked to the upper end of its recent range before giving back some ground, underscoring heightened nerves about macro stability and rate expectations.

Key points:

Bitcoin dives below $85,000 as macro assets suddenly tumble from record highs.

Gold and silver shock market watchers as nerves over global financial stability grow.

BTC price action faces an uphill struggle to avoid a bear market tone at the monthly close.

Gold meltdown catches Bitcoin in its wake

Data from TradingView captured new 2026 lows for Bitcoin, which slipped to about $83,156 on Bitstamp, marking a near-6% intraday drop. The move extended a sequence of declines that traders said reflected a broader shift in risk appetite across macro assets. The price action came as gold traded with heightened intraday volatility, briefly touching the coveted $5,600 level before losing momentum in consecutive minutes, a signal that investors were reassessing hedging plays amid evolving liquidity conditions.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Support at the 2026 yearly open and nearby moving averages failed to stem selling pressure as crypto liquidations crossed the $500 million mark within four hours, underscoring a rapid unwind across long positions. The spike in liquidations highlighted the fragility of leverage in an environment where volatility can surge in a matter of minutes.

Crypto liquidations (screenshot). Source: CoinGlass

The broader sell-off did not spare gold and other risk assets. Gold, which had surged intraday to a historic nominal high, retraced more than $400 within half an hour, a move that surprised some observers given its historical role as a safe-haven asset during periods of macro stress. The rapid swing in precious metals drew attention from traders who had anticipated a more orderly risk-off environment, prompting questions about whether the current dynamic signals a structural shift in how assets react to rate expectations and liquidity shifts.

As the market digested the liquidity crunch, traders attempted to reconcile the sudden drop in Bitcoin with a broader macro narrative. Some argued that the repricing was less about a single catalyst and more about a rebalancing of portfolios as traders reassessed correlations between crypto and traditional assets in a backdrop of shifting policy expectations.

Rate cuts can’t pump BTC.
Pro-crypto President can’t pump BTC.
Weak dollar can’t pump BTC.
Institutional adoption can’t pump BTC.
Rising Global liquidity can’t pump BTC.
Fed injecting liquidity can’t pump BTC.
Stocks new ATH can’t pump BTC.

Is there anything that could pump BTC… pic.twitter.com/GK5OAHHP4m

— BitBull (@AkaBull_) January 29, 2026

“Wild markets today as Gold and Silver erase trillions in minutes. Yes, BTC goes down during that panic flush, and we’ll probably see some lower levels,” remarked Michaël van de Poppe, a widely followed crypto trader and analyst, in a post on X. He added, however, that a turning point for Bitcoin could be on the horizon, signaling an opportunity for fresh upside if risk sentiment stabilizes.

“ time for Bitcoin to shine is coming.”

BTC/USD vs. XAU/USD one-day chart. Source: Cointelegraph/TradingView

Nic Puckrin, CEO of the crypto education site Coin Bureau, joined the chorus warning that the day’s price action in gold and silver looked unusual for traditional safe-haven assets. He described the move as “insane,” adding that the dollar’s status as a global reserve currency could be facing a reputation test as investors and central banks prepare for turbulence ahead. “They are prepositioning,” he told followers, underscoring the idea that the metals rally was partly hedging against potential shocks in coming weeks.

“Get excited about metals, but realise these buys are essentially insurance. And, when gold and silver actually ‘do this,’ we need to pay attention.”

All eyes on BTC price monthly close

Earlier reporting noted unusual activity on Bitcoin exchange order-books involving an unnamed whale entity that appeared to suppress the price, fueling speculation about manipulation. The story highlighted the fragility of liquidity in a market that has grown increasingly complex, with high-frequency traders and large players capable of moving prices in thinly traded windows. Analysts emphasized that reclaiming the 2026 open by the monthly candle close would be a meaningful signal for bulls, while a close below the key inflection near $87.5k could set the stage for renewed downside pressure.

Keith Alan, cofounder of the trading resource Material Indicators, weighed in on the importance of the monthly close, noting that BTC was testing a critical support level. He cautioned that a close above the Yearly Open would inject some optimism for bulls, whereas a close below the Timelike Level of approximately $87.5k might pave a path toward Bearadise for the rest of the year. The ensuing price action would likely influence traders’ positioning as liquidity cycles evolve and macro conditions unfold.

“A monthly close above the Yearly Open will fuel hopium for bulls. A close below that Timescape Level ($87.5k) will puts us on a path to Bearadise.”

BTC/USD 1-day candle chart. Source: X/ KAProductions

Market context: The slide follows a broader pattern of macro-driven risk-off moves that have reappeared as investors reassess rate paths, liquidity conditions, and the evolving relationship between crypto and traditional markets. Liquidity stress, rather than a single trigger, appears to be driving the current price action, with traders watching for a stabilization signal before committing to new position sizing.

Why it matters

The week’s price action underscores Bitcoin’s continued sensitivity to macro developments and cross-asset sentiment. A sustained break below the Yearly Open could raise the risk of a more extended downturn, while a decisive close above critical levels might reinstate momentum for bulls and entice fresh buyers who were sidelined by volatility. The episode also highlights how rapidly correlated markets can move when liquidity is tested, reinforcing the need for robust risk management and transparent on-chain signals for participants navigating a volatile landscape.

For investors and developers in the space, the episode serves as a reminder that liquidity prudence remains essential, especially for those relying on leverage or margin-based strategies. The interplay between gold, equities, and crypto continues to be a focal point for risk assessment, with on-chain data and off-chain liquidity metrics providing a composite picture of market health as 2026 unfolds.

What to watch next

BTC price action around the Yearly Open and the key inflection near $87.5k in the coming daily candles.

Next round of macro data releases and central bank commentary to gauge liquidity expectations.

Further liquidity and liquidation signals on platforms like CoinGlass to confirm the persistence or reversal of the current risk-off regime.

Regulatory developments and institutional positioning that could tilt flows back toward risk-on if conditions stabilize.

Sources & verification

Bitcoin price prints and intraday levels from TradingView for BTCUSD on Bitstamp.

Gold (XAU/USD) intraday highs around $5,600 and subsequent pullback.

Crypto liquidations data from CoinGlass showing totals above $500 million in four hours.

Public posts from Michaël van de Poppe and Nic Puckrin on X, discussing market dynamics and outlook.

Earlier Cointelegraph reporting on suspected manipulation in Bitcoin order-books involving a whale entity.

Market reaction and key details

Markets reeled as Bitcoin, the leading crypto asset, confronted a wave of selling across macro-asset classes. The first appearance of a marked price break occurred as liquidity tightened, with BTC dipping below the $85,000 level and trading near $83,156 at one point on Bitstamp, signaling a two-month trough. The rivalry between risk assets and hedging instruments intensified as traders reeled from a liquidations surge that crossed half a billion dollars in just a few hours. In parallel, gold surged to a fresh nominal high around $5,600 before retreating, illustrating the jittery posture of investors who were price-discovering across markets in real time.

As the day progressed, market participants weighed the implications for BTC’s near-term trajectory. Some argued that the weakness was part of a larger risk-off purge that could unwind protective positioning, while others urged caution, noting that a near-term relief rally could materialize if macro conditions stabilize and liquidity returns. A prominent voice in the space observed that the current dynamics may hinge on a decisive monthly close rather than one-off fluctuations, with the Yearly Open acting as a pivotal anchor for sentiment in the weeks ahead.

In parallel, traders and analysts debated the price action in metals and its relationship to digital assets. A widely followed trader noted that the gold rally had proved unstable, suggesting a potential pause in the metal’s run that could affect how investors weigh gold as an insurance asset going forward. The sentiment around BTC remained nuanced, with some observers signaling a potential shift once the market clears the short-term fog and aligns with more definitive macro cues.

Ultimately, the episode highlighted the delicate balance between opportunity and risk in a market that remains highly data-driven and sensitive to policy signals. As the day closed, the evolving story centered on whether Bitcoin could reclaim its critical levels and set the stage for a more constructive trend or whether the sell-off would crystallize into a broader corrective phase.

What matters for participants is the ongoing test of the Yearly Open and the near-term resilience of BTC near the key inflection near $87.5k. The coming weeks will determine whether Bulls regain momentum or the bears extend their grip as liquidity conditions remain a central driver of price action across crypto and traditional markets.

//platform.twitter.com/widgets.js

This article was originally published as Bitcoin Dips Below $85K as Global Macro Assets Fall on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Regulatory clarity for digital assets remains a priority in Washington as the White House prepares a key meeting and Congress mulls the market-structure framework. On Jan. 29, 2026, SEC Chair Paul Atkins and CFTC Chair Mike Selig spoke on CNBC’s Squawk Box about the CLARITY Act, in a segment linked here: discuss. The measure has cleared the House but is stalled in the Senate as Agriculture and Banking committees hash out provisions. The debate centers on stablecoin yields and how they should be regulated. Coinbase’s withdrawal of support highlighted industry concerns. Atkins framed the dialogue as a path to a workable compromise, while Selig noted that, due to the GENIUS Act, stablecoin policy sits largely outside the agency’s remit, shifting the focus to securities and tokenized assets. A White House meeting with financial and crypto leaders on Monday adds momentum to the negotiations.

SEC Chair Paul Atkins (middle) and CFTC Chair Mike Selig (right) on CNBC’s Squawk Box. Source: CNBC

Key takeaways

Regulators frame their role as advisory, signaling a collaborative but ultimately legislative-driven path to rulemaking on crypto, with the White House and Congress guiding the final framework.

The CLARITY Act remains in limbo in the Senate after House passage, with Agriculture and Banking committees scrutinizing provisions that touch yield, custody, and supervisory jurisdiction.

GENIUS Act’s July 2025 enactment has effectively placed stablecoin policy outside the reach of the SEC and CFTC, according to officials, shaping where responsibility lies as policymakers weigh securities versus non-securities classifications.

Industry pushback surfaced when Coinbase withdrew support for the bill, underscoring concerns about how yield provisions would be treated under any final regime.

A White House-hosted meeting on Monday aims to bridge gaps between bankers and crypto participants, signaling a push for a common regulatory language.

Market context: The regulatory process in Washington continues to influence liquidity, risk sentiment, and product development across the crypto sector, with participants awaiting a coherent set of rules that can be implemented without stifling innovation.

Why it matters

The evolving dialogue between regulators and lawmakers matters because it sets the tone for how market participants will operate in the near term. For investors and traders, clear rules reduce uncertainty around product design, disclosure standards, and risk management. Exchanges and custodians rely on predictable guidance to build compliant infrastructures, while developers exploring tokenized securities and other innovations need clarity on whether their use cases will be treated as securities or non-securities assets.

From a policy standpoint, the moment underscores a balancing act between investor protection and market efficiency. Regulators stress a willingness to engage once a broad consensus emerges, but the path to a final framework remains intricate: it involves reconciling the SEC’s and CFTC’s jurisdictions with newly enacted or proposed statutes, and it requires alignment with executive priorities outlined in White House meetings and Senate deliberations.

Observers also note that the final regulatory construct could resemble a mosaic rather than a single, sweeping regime. The emphasis on stablecoins — particularly the yields generated by certain stablecoin arrangements — has become a focal point of contention among traditional financial institutions and crypto firms alike. The ongoing debate, highlighted by the CNBC interview and committee hearings, illustrates how policy design will influence not just compliance costs but the pace and direction of product innovation in the sector.

What to watch next

The White House meeting with banking and crypto executives on Monday, aimed at aligning industry expectations with policy objectives.

Ongoing Senate Agriculture Committee discussions and potential amendments as lawmakers work toward a floor vote on the digital asset market structure bill.

Any public statements or guidance from the SEC and CFTC following committee actions and interagency discussions.

Industry responses and stakeholder advocacy as the yield provisions and regulatory boundaries for stablecoins are debated.

Sources & verification

CNBC video: sec-cftc-chairs-on-crypto-regulation-we-can-codify-sensible-rules-of-the-road-for-the-asset-class.html

Cointelegraph: live-senate-markup-crypto-market-structure-bill

Cointelegraph: clarity-act-crypto-market-structure-coinbase-brian-armstrong

Cointelegraph: stablecoin-genius-act-donald-trump-signing

Cointelegraph: Trump banks crypto clarity market structure

Cointelegraph: us-bank-lobby-aba-crypto-stablecoin-yields-priority-clarity-genius

Regulatory pathway and next steps

Key lawmakers and regulators remain cautious but engaged, recognizing that a final framework will require both bipartisanship and a careful division of responsibilities among federal agencies. The CLARITY Act’s fate in the Senate looms large, as does the White House’s effort to broker consensus ahead of potential votes. In the near term, stakeholders should monitor the Monday meeting and any subsequent committee actions that refine the bill’s provisions, particularly around yield mechanics and the treatment of stablecoins within a wider regulatory taxonomy. The outcome could influence how quickly new market participants enter the space, how existing firms adjust their products, and how the broader investment community assesses risk in the evolving crypto landscape.

What the article changes for readers

For industry players, the piece highlights the ongoing tug-of-war between policy goals and market realities. For policymakers, it underscores the practical implications of jurisdictional choices and yield policy on innovation and consumer protection. And for observers, it provides a snapshot of how front-office discussions translate into legislative momentum or gridlock, shaping the trajectory of digital asset regulation in the United States.

This article was originally published as SEC and CFTC Strike a Conciliatory Tone Ahead of CLARITY Act Talks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Galvenie ieskati

BTC veido trīsstūri pie galvenā atbalsta, parādot cenas saspiešanu un tirgus neskaidrību.

Samazināts apjoms norāda uz konsolidāciju, nevis aktīvu pārrāvuma fāzi vēl.

Augsta apjoma kustība pāri trīsstūra robežām var noteikt nākamo virziena tendenci.

Trīsstūra struktūra veidojas pie galvenā atbalsta

Bitcoin cena tirgojas tuvu lielam atbalsta zonai, kamēr saspringts trīsstūris veidojas četrstundas grafikā. Šis models rāda zemākas augstās un augstākas zemās, kas atspoguļo saspiešanu. Pircēji reaģēja uz kanāla atbalstu šīs nedēļas sākumā, taču momentum samazinājās. Cena tagad svārstās ap augstas apjoma punktu, kas rada divpusēju darbību.

Decentralizētas fiziskās infrastruktūras tīklu, vai DePINs, nav tikai vārds, kas ierobežots ar vēlu cikla kriptovalūtu sarunām. Kopējā DePIN 2025 ziņojums no Messari un Escape Velocity apgalvo, ka sektors ir attīstījies par 10 miljardu dolāru tirgu, ar on‑chain ieņēmumiem apmēram 72 miljoniem dolāru iepriekšējā gadā. Analīze salīdzina pēc 2018–2022 DePIN token grupas — samazinājās par satriecošiem 94% līdz 99% no to visu laiku augstumiem — ar dažām projektiem, kas tagad ģenerē pārbaudāmus atkārtotus ieņēmumus un pieprasa novērtējuma reizinājumus 10x–25x ieņēmumu joslā. Messari šos reizinājumus uzskata par nepietiekami novērtētiem, ņemot vērā izaugsmes trajektoriju, izceļot pāreju, kas sakrīt ar tīklu reālās pasaules izmantošanu, nevis subsīdiju virzītu paplašināšanu.

Pēdējo 24 stundu laikā digitālo aktīvu juridiskā riska jautājumi ir koncentrējušies ap trim tēmām: (1) kā esošie vērtspapīru likumi attiecas uz “tokenizētiem vērtspapīriem” Amerikas Savienotajās Valstīs, (2) sankciju un finanšu noziegumu izpildes gaidas kriptoaktīvu uzņēmumiem Apvienotajā Karalistē, un (3) pieaugoša patērētājiem domātas kripto reklāmas un finanšu veicināšanas ziņojumu pārbaude Apvienotajā Karalistē. Kopā šīs attīstības nostiprina konsekventu virzienu: regulatori piešķir prioritāti skaidrībai instrumentu klasifikācijā, ātrākām un caurskatāmākām izpildes ceļiem, kā arī augstākiem mārketinga standartiem, kur iesaistīti mazumtirdzniecības auditorijas.

ASV likumdevēji ceturtdienas rītā atklāja svarīgu izskatīšanas sesiju par ilgi gaidīto kriptovalūtu tirgus struktūras likumprojektu, signalizējot par būtisku soli, lai precizētu, kā digitālo aktīvu tirgi tiks uzraudzīti Amerikas Savienotajās Valstīs. Senāta Lauksaimniecības komiteja izskata Digitālo preču starpnieku likumu, priekšlikumu, kas ir ilgu laiku bijis diskusiju centrā, jo likumdevēji un nozares ieinteresētās personas pieprasa ietvaru, kas pārsniedz tikai izpildes pieejas. Sesija ir koncentrēta uz 11 grozījumiem, kas skar vadību CFTC, ētikas noteikumus un bažas par ārvalstu ietekmi ASV tirgos. Ievērības cienīgs ir Senāta locekļa Rodžera Mašala kartes maksas grozījums, kas joprojām paliek darba kārtībā, lai gan ziņojumi liecina, ka viņš šoreiz varētu to nevirzīt. Kamēr izskatīšana norit, bipartizānās atbalsta līdzsvars un potenciālie sprādzieni palīdzēs noteikt likumprojekta likteni.

Redaktora piezīme: Kaspersky ir ieviesis jaunu tiešsaistes rīku, kas paredzēts, lai palīdzētu rūpnieciskajām organizācijām Tuvajos Austrumos aplūkot operatīvās tehnoloģijas kiberdrošības risku no finansiālā viedokļa. OT kalkulators ir izstrādāts, lai tulkotu tehnisko pakļautību aptuvenajās izmaksās un ietaupījumos, sniedzot izpilddirektoriem skaidrākus ieguldījumu un budžeta lēmumu pamatus. Tā kā rūpnieciskie sistēmas enerģētikā, komunalajos pakalpojumos, transportā un ražošanā kļūst arvien savienotāki, kiberdrošības incidenti arvien vairāk rada izmērāmus biznesa ietekmes rādītājus. Šis palaišana notiek kiberdrošības, digitālās infrastruktūras un reģionālās rūpnieciskās izaugsmes krustojumā, kur riska kvantificēšana kļūst tikpat svarīga kā tā mazināšana.

Saūda Arābija plāno atvērt savus kapitāla tirgus plašāk nekā jebkad nesenā vēsturē. No 1. februāra Karaliste atcels tās Kvalificēto Ārvalstu Investoru sistēmu, novēršot ilgstošas barjeras, kas ierobežoja tiešu dalību Tadawulā šaurā globālo institūciju grupā. Šīs izmaiņas seko 2025. gada Investīciju likumam un atceļ minimālās aktīvu sliekšņus apmēram 500 miljonu dolāru apmērā kopā ar sarežģītiem licencēšanas noteikumiem. Saskaņā ar nozares vadītājiem, kas cieši sadarbojas ar Saūdu varas iestādēm, reforma iezīmē plašāku pārmaiņu, kas pārsniedz akcijas, veidu, kā reālās pasaules aktīvi varētu tikt emitēti, piederēti un noregulēti nākotnē.

Redaktora piezīme: Šis paziņojums izklāsta, kā bitkoina nesenā cenu darbība ir novirzījusies no agrākajām gaidām, kas saistītas ar draudzīgāku kriptovalūtu politisko vidi Amerikas Savienotajās Valstīs. Neskatoties uz sākotnējo optimismu pēc Donalda Trampa atgriešanās Baltajā namā, bitkoins ir krities gandrīz par 20% pēdējo trīs mēnešu laikā, atspoguļojot plašākas makroekonomiskās spiedienus, nevis regulējošās naratīvus. Saskaņā ar eToro analīzi, bitkoins arvien vairāk tiek tirgots kā augstas likviditātes riska aktīvs, ko ietekmē procentu likmes, dolāra likviditāte un kopējā riska apetīte. Komentārs uzsver, kā makro spēki, nevis politiskā retorika, šobrīd veido digitālo aktīvu tirgus.

Citrea, Bitcoin-dabīgs ZK-rollup, ko atbalsta Founders Fund un Galaxy Ventures, pirmdien palaida savu galveno tīklu, piedāvājot BTC nodrošināto aizdošanu, BTC strukturētos produktus un jaunu dolāru atbalstītu stabilo monētu, ctUSD. Projekts, ko izstrādā Chainway Labs, pozicionē sevi kā on-chain dzinēju, kas pārvērš neaktīvo BTC par pamata DeFi likviditāti un ļauj tuvākai noregulēšanai pie Bitcoin pamata slāņa. Savas agrīnās darbības laikā Citrea prognozē, ka DeFi aktivitātes sasniegs aptuveni 50 miljonus USD likviditātes, jo BTC aizdošana, BTC strukturētie produkti un decentralizēta tirdzniecība tiks palaisti no pirmās dienas, ar ctUSD nodrošinot šo aktivitāti atbilstošā, on-chain veidā.

Bitcoin (CRYPTO: BTC) čukst uz svarīga pagrieziena punkta piesardzīgā pirms-FOMC sesijā, bet neizdevās pārvarēt tuvākā laika slieksni pie $90,000, jo tirgotāji izvērtēja makro signālus un sektora specifiskās dinamikas. Tirgus pulsācija norādīja uz potenciālu atdzimšanu, ja BTC/USD pāris var pārliecinoši atgūt $93,000 līmeni, kas būtu slieksnis, kas varētu pagriezt noskaņojumu uz iespējamu augšupejošu izlaušanos. Lai gan spot ETF ir atdzisuši savā pārdošanas spiedienā, uz ķēdes dati un institucionālā uzvedība joprojām ir izšķirošs faktors nākamajai kustībai uz augšu. Šis tehniskās pretestības un attīstošo pieprasījuma apstākļu maisījums veido tūlītējo riska-atalgojuma attiecību tirgotājiem, kas dodas uz Federālās rezervju politikas lēmumu logu.

Bybit, viens no pasaulē lielākajiem kriptovalūtu biržām pēc tirdzniecības apjoma, paplašina savu darbību ikdienas banku pakalpojumos ar jaunu produktu, kas tiks piedāvāts lietotājiem februārī. Iniciatīva, kas nosaukta “Mana banka, ko nodrošina Bybit,” sniegs klientiem personīgu IBAN un iespēju pārvietot naudu starp bankām vairākās valūtās, sākot ar ASV dolāru. Izpilddirektors Ben Zhou uzsvēra, ka šī funkcija ir izstrādāta, lai atvieglotu ceļu starp kriptovalūtu tirdzniecību un parastajiem finanšu pakalpojumiem, efektīvi radot tiltu fiat noguldījumiem, rēķinu maksājumiem, algas maksājumiem un kriptovalūtu tirdzniecībai, viss vienā Bybit kontā. Šis solis tiek sperts, jo platforma cenšas diversificēt ieņēmumu plūsmas un padziļināt lietotāju iesaisti ārpus kriptovalūtu spot un atvasinājumu tirgiem. Tas arī notiek pēc nopietna drošības incidenta iepriekšējā gadā, kad Bybit atklāja kiberuzbrukumu, kas apdraudēja lietotāju datus un uzticību, uzsverot nepieciešamību pēc stiprākām regulām un atbilstības ātri mainīgajā vidē.

Abū Dabī bāzētā Universālā Digitālā ir laidusi klajā USDU, Apvienoto Arābu Emirātu pirmo USD atbalstīto stabilo monētu, kas reģistrēta kā Ārzemju Maksājumu Tokens saskaņā ar AAE Centrālās bankas Maksājumu Tokenu Pakalpojumu Regulu (PTSR). Reģistrācija iezīmē nozīmīgu brīdi Persijas līča valsts digitālo aktīvu ietvarā, radot regulētu, USD denominētu norēķinu iespēju kripto aktivitātēm AAE un nostiprinot Universālo kā pionieri Ārzemju Maksājumu Tokenu Emitentā saskaņā ar šo režīmu. Uzņēmums uzsver, ka regulatori vada pārejas ceļu uz plašāku atbilstību, un USDU tiek raksturota kā pirmā USD stabilā monēta, kas pabeidz šo procesu. Tokens tiek izsniegts kā ERC-20 tokens uz Ethereum un ir atbalstīts 1:1 ar iekšzemes USD rezervēm.