CoinSignals

Bitcoin (BTC) is trading near $90,000 on January 28, 2026, after a few volatile sessions that have made some traders uneasy.

ETF analyst Eric Balchunas pointed out that BTC has gained roughly 429% since 2022, surpassing silver’s 350%, gold’s 177%, and the Nasdaq-100’s 140%. He explained that the recent slowdown is mostly the market catching up after prices surged ahead of the spot Bitcoin ETF adoption story, not a flaw in Bitcoin’s long-term outlook.

“People focus on one red candle and forget the bigger picture,” Balchunas wrote on X, highlighting Bitcoin’s dominance before and after BlackRock filed for a spot BTC ETF in 2023.

Despite short-term pullbacks below $90,000 and resistance near $92,000, broader risk-off factors like U.S. monetary uncertainty and derivatives liquidations are weighing on BTC. Balchunas emphasized that ongoing narratives — debt growth, currency debasement, and gradual institutional adoption — still support long-term confidence.

Zooming out, analysts argue that the current lull is a natural pause after an aggressive run, not a breakdown. Bitcoin’s dominance of around 57% also shows altcoins have not meaningfully outperformed during this period.

XRP has experienced a modest price decline of about 4 percent since the start of 2026, currently trading near $1.90 on major exchanges. Despite the weak price action, on-chain data shows a notable increase in high-balance holders, indicating that accumulation may be occurring behind the scenes.

Santiment reported that XRP has added a net 42 wallets holding at least one million tokens since January 1, 2026. This marks the first growth in so-called “millionaire” wallets since September 2025. The analytics firm noted that this increase has occurred while the token’s price has remained relatively stable, suggesting that larger holders are quietly increasing exposure even as the market consolidates.

At the time of writing, XRP trades at approximately $1.88, reflecting a decline of about 2 percent over the past 24 hours and around 4 percent over the past week. On a monthly basis, the token has shown a slight gain of about 2 percent, but remains roughly 40 percent lower than a year ago. Technical analysis places XRP about 25 percent below its 200-day moving average, which sits near $2.50. Risk-adjusted metrics such as the 30-day Sharpe Ratio are near zero, indicating that recent returns have provided little reward relative to volatility. Short-term momentum indicators also point to consolidation rather than a decisive trend.

Market watchers like XrpArthur have highlighted the divergence between price and wallet growth. They caution against overly optimistic price projections circulating on social media, arguing that expectations of XRP reaching $13 to $30 ignore broader macro conditions, liquidity constraints, Federal Reserve policy, Bitcoin dominance, and the real adoption of the XRP Ledger.

Looking at the outlook for 2026, crypto investment firm 21Shares provided a structured framework for potential price movements. They outlined a base-case scenario near $2.45, a bull case around $2.70, and a bear case close to $1.60. Their analysis emphasizes the importance of regulatory clarity following the August 2025 SEC settlement, which reopened access for U.S. institutions and regulated funds.

Institutional demand via U.S. spot XRP ETFs also plays a key role. Within the first month, these funds reportedly accumulated over $1.3 billion in assets under management. Despite this, 21Shares cautioned that sustained inflows, ongoing tokenization activity, and the adoption of Ripple’s RLUSD stablecoin will be necessary to support higher valuations.

Currently, XRP remains within a narrow trading range of $1.80 to $2.00. Analysts are closely monitoring whether the token can reclaim resistance near $2.00. The increase in large wallets contrasts with a market that is still hesitant, indicating that XRP is in a holding pattern as 2026 unfolds.

Ethereum (ETH) experienced a brief pullback to nearly $2,800 over the past weekend, driven by rising geopolitical tensions and pressure on risk assets. However, the cryptocurrency quickly recovered, climbing back above $3,000 by Wednesday, demonstrating resilience despite short-term market volatility.

The Ethereum network continues to show strong growth, with the number of non-empty wallets surpassing 175.5 million, according to Santiment. This is the highest wallet count among all cryptocurrencies. In 2026 alone, 5.16 million new wallets were added, indicating steady user participation and adoption even during sideways market movements.

Santiment noted that one of the main drivers behind the network’s growth is the ongoing popularity of staking. As more users lock ETH to earn staking rewards, the amount of ETH held on centralized exchanges steadily declines. This shrinking exchange supply can reduce selling pressure over time and provides a supportive backdrop for Ethereum’s price, even if short-term movements remain modest.

Glassnode analyst Chris Beamish highlighted that Ethereum is trading around a dense cost basis cluster. This indicates that many holders are near their breakeven points. If ETH maintains this zone, it suggests absorption and base-building, while a breakdown could push the price toward weaker support areas, where holders may reduce their exposure.

Corporate involvement in Ethereum is also increasing. BitMine Immersion Technologies, the largest corporate ETH holder, expanded its Ethereum treasury by 40,302 ETH on Monday, worth around $117 million. The company now holds over 4.24 million ETH, accounting for 3.52% of the total circulating supply. BitMine has staked more than 2 million ETH, nearly half of its holdings, turning a significant portion of its treasury into yield-generating assets. This surge in corporate staking has contributed to a longer validator queue, which now stands at 54 days, reflecting the rising demand for staking on the Ethereum blockchain.

Institutional interest in Ethereum has been on the rise more broadly. Bitwise reported that companies purchased over 1 million ETH, valued at approximately $3.5 billion. The number of publicly disclosed firms holding ETH increased by 40%, and collectively, corporate holdings now represent roughly 5% of Ethereum’s circulating supply.

These developments underscore Ethereum’s strong fundamentals, with network growth, staking activity, and corporate adoption all contributing to reduced exchange supply and increasing long-term support for the asset.

On-chain data shows that a wallet tied to John “Lick” Daghita controls about 40% of the newly launched LICK token, raising concerns over centralization and risk. The token debuted on Solana-based launchpad Pump.fun, with Daghita actively promoting it on Telegram.

Investigations by on-chain sleuth ZachXBT connected wallets linked to Daghita to over $90 million in suspected thefts, including $24.9 million traced to a US government seizure address and funds tied to the Bitfinex hack. Historical footage revealed him moving large sums during a cybercrime dispute, allowing wallets to be traced.

Authorities are reportedly investigating, while Bubblemaps described the situation as “unhinged.” Questions remain over potential access to seized funds, as Daghita’s family reportedly has ties to a company managing forfeited crypto assets.

Ethereum co-founder Vitalik Buterin earned roughly $70,000 last year on Polymarket with a $440,000 stake by employing an “anti-insanity mode” strategy. He focuses on markets driven by hype or extreme irrationality, betting against unlikely outcomes.

Buterin highlighted politics and technology as his main targets, citing examples like bets on Donald Trump winning a Nobel Peace Prize or the US dollar collapsing to zero within a year. He explained that markets dominated by extreme predictions often present the clearest opportunities for disciplined traders taking the opposite position.

This is not his first success with prediction markets; he made about $58,000 from US election bets in 2020, praising such platforms as tools for collective truth-seeking and open participation.

Polymarket remains active but faces competition. As of December 2025, it held 41% of open interest behind Kalshi’s 42%, with sports, politics, and crypto each exceeding $1.2 billion in trading volume. Culture saw the fastest growth, up 687% in six months, though most trading is concentrated among a small number of wallets.

Changpeng Zhao has defended his long standing buy and hold approach after critics accused him of misleading retail investors and encouraging risky behavior in volatile markets.

The former Binance CEO said his comments were misunderstood, stressing that buy and hold is his personal strategy and not advice meant to apply across all cryptocurrencies.

Zhao’s remarks followed backlash to a January 25 post where he said few strategies outperform buy and hold. Critics argued that such messaging ignores how many crypto projects ultimately fail. In response, Zhao clarified on January 28 that the approach clearly does not fit every token and that careful selection is essential.

He compared crypto investing to early tech cycles, noting that while most startups failed, a small number generated outsized returns. According to Zhao, buying everything guarantees poor results, while research and selectivity matter far more than blind accumulation.

Zhao also rejected claims that exchanges should only list projects with near certain success. He argued that future winners cannot be identified in advance and that listing a project does not obligate anyone to invest in it.

The debate reignited old criticisms against Zhao, including social media accusations tied to past market practices and his 2023 US compliance case. Supporters pushed back, pointing to his role in growing crypto adoption, freezing scam funds, and donating to public causes.

The episode underscores a deeper divide in crypto between open access to new projects and demands for stricter quality controls to protect investors.

Bitcoin continued its slow rebound, briefly climbing to $89,500 before meeting resistance and easing back to around $89,000. The move marked a modest daily gain after a volatile week driven by geopolitical tension and sharp swings between $95,000 and $86,000.

The standout performer, however, was Hyperliquid’s HYPE. The token surged another 25% in the past 24 hours and is up roughly 60% over the last few days, reaching above $34 for the first time in nearly two months.

Bitcoin’s market cap is now close to $1.78 trillion, while its dominance has slipped to about 57.3% as altcoins gain ground. Most large cap alts posted moderate gains, with DOGE, AVAX, and MNT up around 3%, and ETH, BNB, and SOL rising up to 2.5%.

Overall crypto market capitalization added more than $50 billion in a day, reclaiming the $3.1 trillion level.

Ethereum did not stay below the $3,000 level for long, rebounding swiftly and returning to the key psychological price zone.

“That’s a fast turnaround for ETH,” said MN Fund founder and crypto commentator Michaël van de Poppe on Wednesday. He noted that Ether has nearly erased last week’s losses relative to Bitcoin, calling it a strong signal and suggesting further upside as long as critical support holds.

Ether Moves Toward Key Resistance

ETH rose about 2.6 percent on the day, reaching roughly $3,028 during the Asian trading session on Wednesday. At the time of writing, the price was holding just above $3,000 after spending only six days below that level. Attention is now turning to the next resistance area near $3,100.

Glassnode analyst Chris Beamish said Ether is currently trading around a dense cost basis cluster, which represents a major breakeven zone for many holders. Holding above this area points to absorption and base formation, while a breakdown could expose the price to weaker support where underwater supply may begin to reduce risk. According to Beamish, the next major move depends on how price behaves around this level.

Santiment also highlighted growing network participation, reporting that the number of non empty Ethereum wallets has surpassed 175 million, the highest of any cryptocurrency. The firm added that strong interest in staking, especially during sideways markets, continues to reduce ETH supply on exchanges.

Strong On Chain and Institutional Signals

Ethereum’s validator ecosystem remains robust. Blockchain Technology Consensus Solutions CEO Charles Allen said demand to become a validator and stake ETH continues to rise. Over the past month, staking withdrawals have fallen to roughly a one day wait, while the deposit queue has expanded to more than 54 days.

He explained that far more participants are looking to stake ETH than exit, which strengthens both network security and validator engagement.

Bitwise also reported strong institutional interest. In the previous quarter, companies acquired more than 1 million ETH worth about $3.5 billion. The number of public firms holding ETH increased by 40 percent, and Ether held by corporations now represents roughly 5 percent of total Ethereum supply.

As Bitwise joked, “Probably nothing.”

Base co-founder Jesse Pollak pushed back against claims that the team influences token prices or secretly supports select assets within the ecosystem.

Responding to community questions, Pollak said the Base team will not privately coordinate, deploy capital, or take any action to drive an asset’s price toward a specific target. He explained that such behavior would unfairly disadvantage other projects, conflict with the principles of open markets, be unsustainable over time, and could even cross legal boundaries.

Base Commits to Open and Fair Markets

Pollak said the Coinbase-backed Ethereum Layer 2 will instead focus on improving distribution and visibility for high-quality applications and assets built on Base. He acknowledged that these efforts can be strengthened and said the team aims to attract more capital and attention to the ecosystem without interfering in price discovery.

He emphasized that Base, like any market, should remain free, open, and fair, and that maintaining those values is a core responsibility of the team.

The comments followed a broader discussion on X questioning why Base does not actively support projects capable of reaching very large market capitalizations. Some users argued the issue reflects wider market dynamics, where speculative meme coins often overshadow long-term builders.

Base Leads Layer 2 Fee Generation

Despite the debate, Base has emerged as a leader among Ethereum Layer 2 networks. On January 14, it generated about $147,000 in daily fees, accounting for nearly 70 percent of total Layer 2 fee revenue that day. By comparison, Arbitrum recorded around $39,000, while Starknet brought in roughly $9,000.

Other scaling networks, including Linea, Optimism, Unichain, Ink, zkSync, and Scroll, lagged behind and struggled to produce meaningful fee revenue, with many failing to exceed $5,000.

Speculation around Base intensified earlier this month after an image shared by X product lead Nikita Bier showed a hypothetical Base token with an exaggerated price and market cap, fueling renewed debate across the crypto community.

Digital asset investment products recorded outflows of $1.73 billion, marking the biggest weekly exit since mid November 2025, according to CoinShares. The scale of the withdrawals suggests bearish sentiment is deepening, echoing patterns seen during previous market downturns.

CoinShares attributed the pullback to weak price performance, fading hopes for near term interest rate cuts, and growing frustration that crypto has failed to act as a hedge against currency debasement. The firm noted that market sentiment has yet to recover from the sharp selloff on October 10, 2025.

Bitcoin Drives the Decline

Bitcoin funds led the exodus, with $1.09 billion withdrawn over the past week, the largest outflow since November 2025. Short Bitcoin products saw only modest inflows of $0.5 million, indicating caution rather than strong conviction on the downside.

Selling pressure extended across major assets. Ethereum funds lost $630 million, XRP saw $18.2 million in outflows, and Sui recorded $6 million. Solana stood out as an exception, attracting $17.1 million in inflows. Smaller gains were also seen in Binance related products, Chainlink, and Litecoin.

Regional Flows Show Sharp Divide

The United States accounted for the bulk of withdrawals, with $1.79 billion leaving crypto funds in a single week. Sweden and the Netherlands followed with $11.1 million and $4.4 million in outflows, while Hong Kong saw $2.6 million exit. Smaller withdrawals were reported in Brazil, France, and Italy.

In contrast, Canada recorded $33.5 million in inflows, Switzerland added $32.5 million, and Germany brought in $19.1 million, highlighting diverging regional sentiment.

Risk Off Mood Takes Hold

Bitcoin is currently trading just above $88,000 but remains under heavy pressure. Mercuryo co founder and CEO Petr Kozyakov said markets are firmly in risk off mode, with capital flowing into traditional safe havens such as gold and silver amid rising geopolitical uncertainty.

Kozyakov added that both retail and institutional investors remain defensive. Areas that fueled speculation last year, particularly meme coins, have seen activity dry up, while institutional participation continues to retreat, reinforcing the broader bearish tone across crypto markets.