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The cryptocurrency market is experiencing a downturn today, with the total market capitalization decreasing by 3.1%, now resting at $3.1 trillion. At present, 95 out of the top 100 cryptocurrencies have seen declines within the last 24 hours. Concurrently, the overall crypto trading volume is recorded at $123 billion.
TLDR:
Crypto Winners & Losers
As of Thursday morning, 9 of the top 10 coins by market capitalization have experienced price declines over the last 24 hours.
Bitcoin (BTC) has decreased by 2.7% since this time yesterday, currently trading at $90,235.
Bitcoin (BTC)24h7d30d1yAll time
Ethereum (ETH) has fallen by 4.1%, currently trading at $3,120. This marks the second-largest decline in the category.
Similar to yesterday, the most significant drop at the time of writing is attributed to XRP, which is down 7.2%, currently priced at $2.12.
Meanwhile, Solana (SOL) recorded the smallest decrease: 2.6% to $135.
Once again, Tron (TRX) defied the overall trend. It was the only coin that appreciated, rising by 0.6% to $0.2962.
Among the top 100 coins, 5 showed increases, with only 2 exceeding 1% each. Leo Token (LEO) rose by 1.7% to $9.17, while Provenance Blockchain (HASH) increased by 1.3% to $0.02603.
Among the declining coins, Pump.fun (PUMP) and Zcash (ZEC) suffered the largest losses. The former has fallen 10.2% to $0.00224, while the latter decreased by 9.6% to $446.
Additionally, CryptoQuant CEO Ki Young Ju projects that BTC will trade sideways through the first quarter of 2026. “Capital inflows into Bitcoin have diminished,” Ju stated. Investment has shifted toward equities and precious metals as gold and silver prices have risen.
Capital inflows into Bitcoin have diminished.
Liquidity channels are now more varied, making timing inflows ineffective. Institutions maintaining long-term positions have disrupted the previous whale-retail selling cycle. MSTR is unlikely to sell off any significant portion of their 673k BTC.
Funds have rotated toward stocks and… pic.twitter.com/Ha866TP857— Ki Young Ju (@ki_young_ju) January 8, 2026
‘BTC Sits in a Fragile Range’
Linh Tran, Senior Market Analyst at multi-asset broker XS.com, noted that BTC is “currently trading in a volatile range just above the $90,000 mark, indicating a delicate balance between monetary policy expectations, liquidity conditions, and global risk appetite.”
The macroeconomic data environment from the US “provides a relatively supportive foundation,” Tran observes. However, due to the ongoing downward pressure on BTC, “this support doesn’t suggest a strong upward breakout. Rather, it primarily serves to limit the risk of a prolonged selling trend.”
Moreover, geopolitical events are prompting investors to decrease leverage or push the US dollar and yields higher. Consequently, Bitcoin may encounter downward pressure, according to Tran.
“Current macroeconomic factors support the notion that Bitcoin isn’t being stifled by interest rates, yet they remain insufficient to foster a clear upward breakout,” the analyst explains.
“A confirmed uptrend would only be established if labor market data continues to cool consistently, reinforcing expectations of looser financial conditions, or if institutional capital returns with sufficient strength to break the current deadlock.”
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Nevertheless, the most significant risk to BTC “does not arise from a single geopolitical news item, but from the potential for such shocks to reignite inflation expectations, elevate yields, and tighten financial conditions again.”
If this occurs, the cryptocurrency “would struggle to maintain its position as a beneficiary of the macro environment and may instead need to find a new equilibrium at lower price levels than those currently available.”
According to Tran, “my personal view is that current data suggest a scenario where Bitcoin consolidates with a cautiously upward bias, rather than entering a deep bearish reversal. Bitcoin’s consolidation range for the remainder of January is likely to fluctuate between $88,000 and $95,000.”
Levels & Events to Watch Next
As of Thursday morning, BTC was priced at $90,235. The coin began the day with an intraday high of $92,847 before dropping below $90,000 to an intraday low of $89,797.
BTC remains positive over the past 7 days, with a 3.2% increase. It has been trading in the range of $87,491-$94,420.
With the price now at the $89,000 level, the possibility of further pullbacks towards the $85,000 mark has emerged. However, a return to $91,200 could propel it towards $93,000.
Bitcoin Price Chart. Source: TradingView
Ethereum is currently trading at $3,120. It started the day at $3,255, gradually declining to $3,099.
Over the past week, ETH has decreased by 5.1%, fluctuating between $3,292 and $2,973.
It had briefly dipped below $3,000, creating possibilities for further declines towards the $2,800 level. A successful climb back above $3,300 may provide upward momentum.
Ethereum (ETH)24h7d30d1yAll time
Meanwhile, the sentiment in the crypto market has declined after a few days of stability.
The crypto fear and greed index currently stands at 43 today, down from 49 yesterday. Although it remains in neutral territory, it is important to note that the metric is now bordering the fear zone.
As anxiety grows among market participants, there is a chance we could see the index return to the fear zone in the near future.
ETFs Turn Red
The US BTC spot exchange-traded funds (ETFs) recorded the highest outflows since late November 2025. On Wednesday, they reported negative flows of $486.08 million, bringing the total net inflow down to $57.05 billion.
Six out of twelve BTC ETFs experienced outflows, with Fidelity’s $247.62 million being the most substantial.
This was followed by BlackRock, which noted outflows of $129.96 million.
Simultaneously, US ETH ETFs also saw negative flows on January 7, breaking a brief positive streak. The total outflows for the day reached $98.45 million, pulling the total net inflow back to $12.69 billion.
Of the nine funds, one saw inflows, while six reported outflows. Franklin garnered $2.38 million.
Conversely, Grayscale experienced a total outflow of $65.08 million on Wednesday, followed by Grayscale’s $13.03 million in outflows.
Meanwhile, Morgan Stanley’s ETF filing indicates a deeper commitment to crypto through ETRADE and institutional adoption pathways.
“Morgan Stanley is betting that even if their ETF does not achieve blockbuster success, there will be an intangible advantage that will enhance their reputation,” states ProCap chief investment officer Jeff Park.
here’s what most people are missing about why Morgan Stanley launching Bitcoin ETF is the most bullish thing ever-
1) it signifies that the market is MUCH larger than even crypto professionals predicted, especially to reach NEW customers. It is unprecedented for a standard ETF product to…— Jeff Park (@dgt10011) January 7, 2026
Quick FAQ
- Did crypto move with stocks today?
The crypto market reported another decline over the past 24 hours. Meanwhile, the US stock market closed the Wednesday session mostly lower, with some exceptions. By the close on January 7, the S&P 500 was down 0.34%, the Nasdaq-100 increased by 0.055%, and the Dow Jones Industrial Average dropped by 0.94%.
- Is this drop sustainable?
The decline may persist in the short term. Certain macroeconomic data could influence it in either direction, but analysts suggest that prices might trade sideways for a while.
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