Meanwhile, Fundstrat managing partner Tom Lee argued crypto fundamentals remain intact despite recent underperformance and that BTC and ETH could surge when the gold and silver rally begins to cool.Investors across markets await a fresh batch of tech earnings reports coming from the US, as well as the decision by the US Federal Reserve on interest rates. It remains to be seen how – if at all – these will affect the crypto market specifically.The rest are down 5% and less per coin.Of the red coins, River (RI ...

Market Overview - Bitcoin (BTC) experienced a recovery after hitting a low of $86,000, rising over 2% within nine hours before facing resistance at $88,250, indicating a potential early bear-market reversal despite an ongoing downtrend since October [1] - The recent selloff was influenced by risk-off sentiment among investors, following U.S. President Trump's speeches at Davos, which affected Bitcoin's status as a safe-haven asset and aligned it more closely with U.S. equities [2] Derivatives Positioning - Bitcoin futures open interest (OI) remained stable at $22.6 billion, suggesting a pause in deleveraging despite price volatility [3] - Funding rates across most exchanges have neutralized around 5% annualized, with OKX showing a -3.8% rate, indicating localized hedging or bearish positions [3] - The 3-month annualized basis on Binance and Deribit increased to just over 5%, reflecting a firming institutional appetite during market consolidation [3] - BTC options displayed high conviction with a 15% one-week 25-delta skew and 58% call dominance in 24-hour volume [3] - Implied volatility (IV) term structure shifted from contango to backwardation, with near-term rates higher than those further out, indicating a premium for immediate positioning [3] Liquidation and Altcoin Performance - Coinglass data reported $744 million in liquidations within 24 hours, with a 77-23 split between longs and shorts, highlighting significant market activity [3] - Bitcoin's weakness contrasted with altcoin resilience, as Ether (ETH) and XRP rose by 2.8%, while privacy coins Zcash (ZEC) and Monero (XMR) gained 6% and 3%, respectively [3] - Metaverse tokens performed notably, with Axie Infinity (AXS) increasing by over 23%, contributing to a 34.4% year-to-date rally in the CoinDesk Metaverse Select Index (MTVS) [3] Altcoin Market Dynamics - The CoinDesk 20 (CD20) Index, dominated by Bitcoin, has lost 0.52% since the start of the year, while the CoinDesk 80 (CD80) Index, heavy on altcoins, has risen by 2.5%, indicating relative strength among altcoins [4] - RIVER, the native token of a stablecoin protocol, surged over 2,100% in the past 30 days, with a 34% increase in the last 24 hours [4] - The "altcoin season" indicator is currently at 28/100, significantly higher than last month's 16/100 but still below September's peak of 76/100 [4] - A lack of liquidity and market depth since October's $19 billion liquidation cascade has led to exaggerated altcoin movements, resulting in high liquidation rates during selloffs and rapid recoveries [4]

Market Overview - Total market-wide liquidations reached nearly $900 million, driven by negative volatility from Trump's tariff impact on the EU [1] - The figure may increase as several altcoins show warning signs [1] XRP Analysis - XRP dropped to $1.85 on January 19 before rebounding to $1.95, erasing most recovery efforts since the start of the year [2] - Short-term traders are increasingly bearish, with potential short liquidations outweighing long positions [2] - If XRP rebounds to $2.29, short positions could face over $600 million in liquidations, contingent on fading concerns over tariffs and strong buying demand around $1.8 [3] - Large whale orders frequently appear when XRP trades below $2.4, indicating strong whale demand at lower price levels [4] - Whale interest is at a 2026 high, suggesting "Smart Money" is positioning for the next upward movement [5] - If whale accumulation surpasses market fears, XRP could recover swiftly, leading to short trader liquidations [6] Axie Infinity (AXS) Analysis - Axie Infinity (AXS) gained over 120% year-to-date and returned to the top trending list due to plans to convert rewards into a new utility token called bAXS [7] - The 7-day liquidation map for AXS indicates a potential liquidation volume of around $12 million, with a narrower price range needed to liquidate long positions compared to shorts [8] - Many investors are looking to exit as prices recover, which could lead to selling pressure and put long positions at risk [10]

Market Overview - The GameFi market experienced a cooling period after a strong start to January, with total market capitalization falling about 2% week-over-week to approximately $9.35 billion, despite having more than doubled over the previous 30 days [1]. Axie Infinity Developments - Axie Infinity's native token, AXS, saw significant volatility, with its market cap reaching about $230 million on January 14, a 50% increase from two days prior, before retracing over 14% to a market cap of approximately $208 million by January 16 [3][4]. - A major restructuring of Axie Infinity's tokenomics was announced during a Discord panel on January 13, where co-founders revealed plans to transition AXS rewards to a new app token, bAXS, as part of a broader overhaul set for 2026 [4][5]. - The new bAXS token will be earned through gameplay and can be spent, staked, or sold, but will initially be tied to user accounts [5]. Other GameFi Tokens - Smaller-cap gaming tokens, such as World of Dypians (WOD), struggled to maintain momentum, with WOD's market cap dropping nearly 40% in the week following a significant increase from around $9 million to over $20 million [7]. - World of Dypians announced the integration of Grok, an in-game AI assistant designed to enhance player experience without disrupting gameplay [8]. Pixiland's Shift - Pixiland: Age of Heroes announced on January 15 that it would pause all Web3 features and transition to an exclusively Web2 model [9].