The crypto market is down today. After a single day of increase, it fell by 1.7% in the last 24 hours to currently reach $3.06 trillion. Additionally, 90 of the top 100 coins fell during this period. The total crypto trading volume stands at $124 billion.
TLDR: Crypto market cap down 1.7% Thursday morning (UTC); 90 of the top 100 coins and 9 of the top 10 coins fell; BTC fell 1.7% to $87,820 and ETH fell 2.5% to $2,942; This decline follows economic tensions, lack of new capital and geopolitical pressures; “This period of consolidation allows for a necessary reset”; Rate cuts are unlikely to occur before the end of the year; This environment could strengthen BTC and ETH’s “roles as hedges against medium-term monetary pressures and dollar depreciation narratives”; Markets are set up for a hold pattern, not a policy pivot; This consolidation period allows for a necessary reset; Sygnum raised 750 BTC for the Starboard Sygnum BTC Alpha fund; US spot BTC ETFs saw outflows of $19.64 million, and spot ETH ETFs saw inflows of $28.1 million; Crypto market sentiment saw an uptick in the fear zone.
As of Thursday morning (UTC), 9 of the top 10 coins by market cap saw their prices drop.
Bitcoin (BTC) fell 1.7%, the same amount it rose yesterday, currently trading at $87,820. This is the lowest percentage of green in the category.
Bitcoin (BTC)24h7d30d1aAll the time
Ethereum (ETH) is down 2.5%, changing hands at $2,942.
The biggest drop in this category is Dogecoin (DOGE) 4.5% to $0.1214.
It is followed by Solana (SOL) 3.4% fall at the price of $122.
Binance Coin (BNB) saw the smallest decline, 1%, now trading at $896.
At the same time, the only increase among the top 10 is 0.8% Tron (TRX)now trading at $0.2945.
Additionally, out of the top 100 coins by market cap, 90 posted price drops today.
Pump-fun (PUMP) fell the most, with the only double-digit drop of 10% at $0.003001.
River (RIVER) comes next, having fallen 7.3% to a price of $50.56.
Green side, Worldcoin (WLD) the most popular in this category. It is up 5.4% at $0.4898.
PAX Gold (PAXG) comes next, up 4.7% to $5,540.
The day’s decline follows a hawkish trend US Federal Reservelack of fresh capital and geopolitical tensions.
Gracy Chen, CEO of Bitgetcommented on the US Federal Reserve’s decision to keep interest rates stable between 3.50% and 3.75% at its first policy meeting of 2026. The decision was as expected and in line with market prices, Chen said.
Additionally, a rate cut is unlikely before the end of the year, provided there is no obvious weakness in economic data.
A hold on rates preserves existing liquidity and supports risky assets without further tightening financial conditions – so this could be constructive for the crypto market in the near term. Maintaining stability while monitoring incoming data supports the resilience of Bitcoin and Ethereum and “wider crypto adoption in a macro regime that has not yet signaled an aggressive squeeze.”
Currently, BTC and ETH are trading “relatively flat, holding key psychological levels as traders reassess risk appetite and positioning rather than immediately reacting to a policy change.”
According to Chen, “Bitcoin is likely to continue consolidating in the $88,000-$91,000 range, with attempts to reach the psychological level of $95,000.”
But both coins could benefit from continued U.S. policy, she says. This environment could “help maintain risk appetite” and strengthen BTC and ETH’s “roles as hedges against medium-term monetary pressures and narratives of dollar depreciation – particularly if future data suggests easing later in 2026.”
Jimmy Xue, co-founder and COO of Axiscommented that a signal that quantitative tightening (QT) would persist at current levels, despite political pressure, could serve as a ceiling for risk assets.
The “devaluation trade” would remain the main driver. And “any perceived loss of Fed independence amid ongoing DOJ scrutiny could ironically provide the floor crypto needs, even if interest rates remain higher for longer,” Xue said.
Fabian Dori, CIO at Sygnum Bankargues that markets are set up for a hold pattern, not a policy pivot. This was confirmed by the FOMC meeting.
The outcome of the meeting was “still more likely to strengthen consolidation than trigger a directional break. The next thing to watch is whether the growing political influence around Fed independence begins to show up more explicitly in the Fed’s communication and in the way markets price political risk.”
Meanwhile, Nic Roberts-Huntley, CEO and co-founder of Financing planargued that “the underlying structure of the digital asset market is arguably healthier than it was during leverage-fueled peaks above $125,000.”
Importantly, this period of consolidation allows for a necessary reset, he says.
According to Nic Roberts-Huntley, “the refocusing of speculative froth on long-term fundamentals and the potential for a further rally once macroeconomic clarity improves. Looking forward, the interplay between fiscal policy and the possible central bank pivot will remain the main driver of risky asset sentiment through 2026.”
At the time of writing on Thursday morning, BTC was changing hands at $87,820. The day started at $90,315, but the coin gradually fell below the $90,000 level and to the intraday low of $87,653.
Over the past week, BTC has fallen by 2.4%. It traded between $86,319 and $90,475 during this period.
Failure to stay above $86,000 would take BTC back to $85,300 and then into the $83,000 to $84,000 zone.
Bitcoin Price Chart. Source: TradingView
At the same time, Ethereum was trading at $2,942. Earlier today, the coin stood at the intraday high of $3,036. It then fell below the $3,000 zone and to a low of $2,934.
ETH is down 2.2% over the past seven days. It moved between $2,801 and $3,034.
The coin could not maintain the $3,000 level. Additional declines would take ETH to $2,890, $2,790, and $2,650.
Ethereum (ETH)24h7d30d1yAll the time
Meanwhile, crypto market sentiment has shown a slight increase since this time a day ago. He is again on the border between fear and the neutral zone, but still in the former.
The crypto Fear and Greed Index currently stands at 38, up from 34 recorded yesterday.
This level indicates a slight increase in optimism among market participants, which followed the equally minor increase in the market capitalization of cryptocurrencies. It won’t see a significant rise without a notable market rally.
Source: CoinMarketCap
US spot BTC exchange-traded funds (ETFs) closed Wednesday’s session with negative flows. They recorded $19.64 million in cash outflows on January 28. The total net inflow decreased to $56.33 billion.
Looking at the twelve ETFs, we find one green and three red. Loyalty recorded revenues of $19.45 million.
black rock dropping $14.18 million, followed by Bitwise $12.61 million and Arche and 21Shares’ $12.3 million in releases.
Source: SoSoValue
In contrast, US ETH ETFs saw minor inflows during Wednesday’s session, with $28.1 million. The total net inflow increased to $12.38 billion.
Of the nine ETH ETFs, two saw inflows and none saw outflows. black rock recorded $27.34 million in positive flows, followed by Loyalty $752,030.
Source: SoSoValue
Meanwhile, in the first four months, the digital asset banking group Sygnum raised 750 BTC for the Starboard Sygnum BTC Alpha fund from professional and institutional investors.
“The strategy captures price dislocations across major crypto markets by leveraging arbitrage opportunities between spot and derivative instruments,” the firm says, while maintaining “market-neutral exposure that seeks to limit reliance on Bitcoin’s daily price movements.”
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Has crypto moved with stocks today?
The crypto market cut the last brief green streak, declining over the past 24 hours. Meanwhile, the US stock market closed the previous session relatively unchanged. At closing time on Wednesday, January 28, the S&P500 was down 0.0082%, the Nasdaq-100 increased by 0.32%, and the Dow Jones Industrial Average increased by 0.025%. This happened after the US Federal Reserve kept interest rates steady.
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Is this decline sustainable?
A decline is typical and was expected, and minor declines tend to be healthy for the market. The crypto market is still trading in a consolidation range, and it will likely continue to do so in the near term.
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