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The cryptocurrency market is experiencing a slight increase today, with the total market capitalisation rising by 0.3% to $3.18 trillion. At present, 63 of the top 100 cryptocurrencies have experienced declines over the last 24 hours. Simultaneously, the overall trading volume in the crypto sector is at $112 billion.
TLDR:
Crypto Winners & Losers
As of Friday morning, 4 of the top 10 cryptocurrencies by market capitalisation have seen their values decrease in the past 24 hours, while 4 have increased (excluding stablecoins).
Bitcoin (BTC) has gained 0.3% since yesterday, currently trading at $90,247.
Bitcoin (BTC)24h7d30d1yAll time
Ethereum (ETH) has dropped by 0.8%, now trading at $3,089. This represents the second-largest decline in this category.
Similar to yesterday, the most significant decline at the time of writing is observed in Tron (TRX), which is down 1% to $0.2931.
Conversely, Solana (SOL) has shown the most appreciation, rising 2.9% to $138.
Following closely is Binance Coin (BNB), which has increased by 0.7% to $890.
Among the top 100 cryptocurrencies, two have reported double-digit gains. Pol (POL) has surged 12.5% to $0.1462, followed by Zcash (ZEC) with an 11.2% increase to $436.
Among the declining coins, Sky (SKY) has experienced the largest drop, down 4.8% to $0.05761. Rain (RAIN) follows with a decrease of 3.6%, now priced at $0.008503.
Meanwhile, US Treasury Secretary Scott Bessent has urged the Federal Reserve to expedite interest rate cuts, despite the recent strong job report.
The Fed implemented three consecutive rate cuts in late 2025, totaling 75 basis points, bringing the benchmark rate to a range of 3.5 to 3.75%. Nevertheless, markets anticipate significantly fewer reductions in 2026.
BESSENT SAYS MORE FED RATE CUTS ARE KEY TO STRONGER GROWTH
Treasury Secretary Scott Bessent stated that lower interest rates are the “only ingredient missing” for stronger U.S. economic growth, urging the Federal Reserve to accelerate rate cuts. He spoke ahead of remarks to the…— *Walter Bloomberg (@DeItaone) January 8, 2026
‘Data Incoming’
Prior to today’s US employment report, the first major data release of the year, Fabian Dori, CIO at Sygnum, remarked that “markets are beginning the first full business week of the year with numerous crucial macro data points set to be released.”
Dori indicated that the NFP (nonfarm payrolls), unemployment, and wage growth figures are particularly noteworthy, as the US Federal Reserve “justified the latest rate cuts with a softening labor market.”
He added: “Interpretation is unusually challenging, however, due to changing labor-supply dynamics from immigration policy adjustments, potential AI-driven impacts on labor demand, distortions from the recent government shutdown, and intermittent funding-market stress that has required the Fed to manage liquidity alongside its traditional inflation and employment mandate.”
While PMI (purchasing managers index) sub-indices “for new orders and service employment have recently shown improvement, a significant re-acceleration in hiring or wage growth would be unexpected. Coupled with recent softer-than-anticipated inflation data, well-anchored inflation expectations, and ongoing discussions about the neutral rate under evolving Fed leadership, risks to the rate policy outlook may tilt towards more easing than currently anticipated. This would be especially advantageous for higher beta risk assets, including technology, mid and small caps, as well as blue chip crypto assets.”
‘BTC Remains Vulnerable’
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Furthermore, Samer Hasn, Senior Market Analyst at XS.com, commented on Bitcoin’s price, stating that it is “barely holding above the 90,000 mark.”
The recent pullback, according to Hasn, occurred amid a consistent drain of liquidity across the market, affecting onchain activity, spot ETFs, and the futures market.
“The decline is not triggered by panic selling, but rather by hesitance,” the analyst posits. “Buyers seem hesitant to drive prices higher, likely sensing that the current sentiment lacks the support necessary to sustain another prolonged rally.”
Onchain signals further underscore caution. The number of whale addresses experienced a sharp one-day decline, bringing the count close to its lowest level since January 2024. Spot ETF flows have turned negative once again, and futures positioning adds another layer of pressure, alongside macro data, according to Hasn.
“With mixed macro signals and liquidity retreating across channels, regaining bullish conviction may prove challenging in the near term,” he concludes. “Until market participation stabilizes and buyers regain their confidence, Bitcoin remains vulnerable to additional pressure rather than being set for a straightforward rebound.”
Levels & Events to Watch Next
At the time of writing on Friday morning, BTC was priced at $90,247. Initially starting at the $89,900 level, the coin quickly dipped to an intraday low of $89,343.
However, it swiftly rose to an intraday high of $91,360 and continued to trade sideways until returning briefly to the $89,600 level this morning.
The key resistance zone currently lies between $94,000 and $97,300. A breakout would pave the way to $100,700, as well as the $105,000–$108,000 zone. Conversely, if it fails to maintain the $90,000 level, BTC could decline to $86,900 and then to $80,500.
Bitcoin Price Chart. Source: TradingView
Ethereum is presently trading at $3,089. Unlike BTC, ETH opened the day at $3,125 before dropping to an intraday low of $3,058.
It has experienced a rather volatile trading day since then, including a brief spike to an intraday high of $3,133 and another brief drop to the $3,060 range.
ETH is currently situated in the $3,050-$3,120 range, aiming for a breakout above this level to potentially reach $3,230 and $3,330. However, further declines might push it below $3,000.
Ethereum (ETH)24h7d30d1yAll time
Meanwhile, the sentiment in the crypto market continues to decline, precariously remaining within the neutral zone.
The crypto fear and greed index is currently at 41 today, down from 43 yesterday. The metric is bordering the fear zone, and it may soon slip back into it.
This again indicates that anxiety and concern regarding the mid-term market performance have been growing among market participants over the past week.
ETFs Post Another Day of Outflows
The US BTC spot exchange-traded funds (ETFs) registered another day of significant outflows. On Thursday, these funds recorded negative flows of $398.95 million. Consequently, the total net inflow has retreated below $57 billion, currently standing at $56.65 billion.
Five of the twelve BTC ETFs experienced outflows, while two saw inflows. Among those with losses, BlackRock and Fidelity recorded the largest outflows: $193.34 million and $120.52 million, respectively.
As for the positive-performing ETFs today, Bitwise experienced inflows of $2.96 million, while WisdomTree took in $1.92 million.
Additionally, the US ETH ETFs also faced negative flows on January 8, amounting to $159.17 million. This has brought the total net inflow down to $12.53 billion.
Five of the nine funds recorded outflows, with none showing inflows.
Among these, BlackRock recorded the highest outflow amounting to $107.65 million, followed by Grayscale with total outflows of $44.62 million.
Meanwhile, South Korea’s Supreme Court has ruled that Bitcoin held on domestic exchanges such as Upbit and Bithumb can be legally seized under the Criminal Procedure Act.
The court stated that Bitcoin qualifies as “an electronic token capable of being independently managed, traded, and significantly controlled in terms of economic value.”
According to The Chosun Ilbo, South Korea’s Supreme Court has for the first time ruled that bitcoins held on exchanges such as Upbit and Bithumb are subject to seizure under the Criminal Procedure Act, as they are classified as electronically recorded assets with economic value…
— Wu Blockchain (@WuBlockchain) January 9, 2026
Quick FAQ
- Did crypto move with stocks today?
The cryptocurrency market recorded a negative 24 hours. Meanwhile, the US stock market concluded the Thursday session mostly higher, with some exceptions. By the close on January 8, the S&P 500 was up 0.0077%, the Nasdaq-100 decreased by 0.57%, and the Dow Jones Industrial Average increased by 0.55%.
- Is this drop sustainable?
Analysts suggest that the market is currently consolidating. Minor declines are still probable and anticipated, although some believe that a market increase may be seen in the near term as well.
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