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An analysis suggests that on-chain indicators point to an increasing likelihood of market consolidation for Bitcoin. In a contribution to CryptoQuant, analyst CrypZeno explained that Bitcoin's Market Value to Realized Value (MVRV) ratio has turned downward after facing resistance in an overvalued zone. According to the analyst, this indicates that the growth of unrealized profits is slowing and suggests an increased likelihood of selling by long-term holders. CrypZeno concluded that market momentum is showing signs of slowing, raising the possibility of a correction or a period of sideways movement.

Bitcoin has reached a critical inflection point that will determine whether its current correction is ending or will deepen, according to an analysis by Negentropic, the X account of Glassnode co-founders Jan Happel and Yann Allemann. The analysis focuses on a Risk Index that measures profit-taking pressure in the market, where a high reading indicates strong selling pressure and a low reading suggests seller exhaustion. Historically, major BTC corrections have often concluded after this index falls below 25 and approaches zero. The analysts noted that the index is currently nearing this critical threshold. They stated that price action at the current level will be a key determinant, deciding if this is a mid-cycle correction similar to that of April-May 2025 or the start of a more significant downturn. A daily close above $94,700 would signal a potential short-term bullish reversal and could support a scenario of a new all-time high within the next four to eight weeks.

An analysis suggests that selling pressure on XRP is gradually easing as inflows from large-scale investors, or whales, to Binance decrease. CryptoQuant contributor Arab Chain noted that in Binance's XRP inflow data, whales account for 60.3% of the total, while retail investors make up 39.7%. This proportion has been trending downward after peaking at over 70% in November and early December of last year. The contributor explained that whale movements coincide with XRP's price correction. The asset rose to $3.20 late last year but has since fallen to its current level of around $2.26. An increase in whale inflows to exchanges typically signals stronger selling, whereas a decrease indicates that selling pressure is subsiding. While the share of inflows from whales remains high, its gradual decline is considered a positive sign that lowers the risk of a sudden, large-scale sell-off. However, the analyst cautioned that a renewed increase in whale inflows could signal a market reversal and warrants close attention.

South Korea's ruling Democratic Party is pursuing a two-track approach to stablecoin legislation by preparing two separate bills, Dailyan reported. The first bill will align with the government's plan, reflecting the Financial Services Commission's proposal to permit issuance primarily through bank-led consortiums. Concurrently, the party's Digital Asset Task Force is drafting a separate, innovation-focused bill. This second proposal is a response to internal concerns that a bank-centric model is too restrictive and aims to allow a wider range of entities, such as fintech and blockchain companies, to issue stablecoins.

Indian financial authorities have highlighted the difficulty of tracking cryptocurrency transactions for tax evasion purposes, the Times of India reported. India's Central Board of Direct Taxes (CBDT) stated that offshore exchanges, private wallets, and DeFi complicate tax enforcement. The agency explained that the nature of cryptocurrency allows funds to move without passing through regulated financial institutions, limiting the ability to trace transactions. The CBDT added that identifying taxpayers is virtually impossible in transaction structures involving multiple countries. Currently, India applies a 30% tax rate on profits from crypto transactions and imposes a 1% tax deducted at source (TDS) on all trades, regardless of profit or loss.

Bitcoin's mining difficulty fell 1.20% to 146.47 T in its latest adjustment at approximately 8:05 a.m. UTC on Jan. 8, according to data from Cloverpool, formerly BTC.com. The network's seven-day average hashrate at the time of the adjustment was 1.04 ZH/s, and its current hashrate is 1.06 ZH/s. The next difficulty adjustment is expected in about 14 days.

Crypto AI startup Fraction AI announced on X the launch of its Base-based Signature Agents. The company said users can create and share their own agents, each reflecting its creator's philosophy on how to use stablecoins. As trillions of dollars in stablecoins move on-chain, the agents are designed to help utilize this capital efficiently in real-time. According to the announcement, users have already deployed more than 160,000 agents on the Base mainnet through the platform in recent months. Access to Signature Agents will initially be available to FOXX NFT holders and the Legendary Group before gradually expanding. Agents created by crypto analysts such as Miles Deutscher and Daan Crypto Trades are currently available. Fraction AI added that the agents are fast, accessible, and capable of managing assets across the entire on-chain environment, stating that this year will see stablecoins evolve from infrastructure into tools that power an agent-based economy. Fraction AI previously raised $6 million in a pre-seed funding round in December 2024. The round was co-led by Spartan Group and Symbolic Capital, with participation from Borderless Capital, Anagram, Foresight Ventures, and Karatage.

Binance has announced the launch of traditional finance (TradFi) perpetual futures contracts, starting with gold (XAU) and silver (XAG). The new products are collateralized with USDT and share the same structure as existing crypto perpetual futures, allowing for leveraged trading without an expiration date. Users can trade these contracts via the TradFi tab on the futures trading page on the Binance website or app.

Ethereum (ETH) is exhibiting several bearish signals, according to an analysis by crypto analyst CryptoOnchain. The analyst noted on X that the Coinbase Premium for ETH has dropped to its lowest level in 10 months, indicating weakened demand from U.S.-based investors and stronger selling pressure on Coinbase compared to Binance. ETH has been in a downtrend since peaking at $4,700 and has been unable to break through the key resistance level of $3,300. Sluggish demand for spot ETH ETFs was also cited as a bearish factor. CryptoOnchain concluded that a breakout above $3,300 is unlikely until the Coinbase Premium turns positive.

Binance Alpha has announced the addition of 我踏马来了. The platform is an on-chain trading service within the Binance Wallet that focuses on listing early-stage coins.

U.S. spot XRP ETFs recorded their first net outflow in 36 trading days since their launch, The Block reported. On Jan. 7, the five funds saw a combined net outflow of $40.8 million. The outflow was driven by 21Shares' TOXR, which lost $47.25 million, while ETFs from Canary, Bitwise, and Grayscale saw combined net inflows of around $2 million. Rachael Lucas, an analyst at BTC Markets, noted that while the first net outflow is a notable change, its scale is equivalent to only 3% of the cumulative net inflows since the products' inception. She suggested the outflow was likely due to profit-taking after XRP's price surged from $1.8 to $2.4 in one week, coinciding with a broader market correction. Lucas added that XRP holdings on exchanges are at an all-time low while trading volume remains high, and various on-chain indicators point to potential bullish signals. She concluded that if capital inflows into the ETFs resume, XRP could retest the $3 price level.

Binance Alpha has announced the addition of DeepNode (DN). The platform is an on-chain trading service within the Binance Wallet that focuses on listing early-stage coins.

Major exchanges have seen $102 million worth of futures liquidated in the past hour. In the past 24 hours, $418 million worth of futures have been liquidated.

South Korean crypto exchanges Bithumb and Coinone announced they will end trading support for AI16Z at 6:00 a.m. UTC on Feb. 9, citing unresolved issues that previously placed the token on their delisting watchlists. According to the exchanges, a comprehensive review concluded that the project did not meet listing standards due to delayed disclosures of key information and insufficient transparency and reasonableness in its decision-making processes regarding material changes.

According to CoinNess market monitoring, BTC has fallen below $90,000. BTC is trading at $89,957.24 on the Binance USDT market.

Ethereum founder Vitalik Buterin stated on X that if he had to use one analogy for Ethereum, it would be BitTorrent. He described Ethereum as a peer-to-peer network that combines the BitTorrent model, which gains speed as more users join, with decentralization and large-scale scalability. Buterin explained that the goal is to build a decentralized financial and social infrastructure where individuals and businesses can coexist without intermediaries. He compared Ethereum's trajectory to that of Linux, which has become a core system for numerous governments and corporations while maintaining its open-source ethos. Similarly, Buterin noted that Ethereum pursues both technical purity and mainstream practicality, adding that many companies desire an open and resilient ecosystem to minimize counterparty risk—a concept known in the crypto industry as trustlessness. He further mentioned the potential for network expansion by utilizing key features of Pusaka, such as PeerDAS and Zero-Knowledge Proofs (ZKP). While increasing node support remains a challenge, Ethereum will focus on expanding bandwidth over reducing latency to achieve both decentralization and economies of scale. The Layer 1 chain will serve as the network's heart, while high-speed processing needs, such as for AI, will be addressed by Layer 2 solutions.

The following are the 24-hour long/short ratios for BTC perpetual futures on the top three global crypto futures exchanges by open interest: Overall: 49.25% long, 50.75% short 1. Binance: 49.35% long, 50.65% short 2. OKX: 48.63% long, 51.37% short 3. Bybit: 49% long, 51% short

The development team at Electric Coin Company (ECC), the core entity behind Zcash (ZEC), has announced its collective resignation due to a conflict with the Zcash-supporting non-profit Bootstrap, Cointelegraph reported. ECC CEO Josh Swihart stated that a majority at Bootstrap has deviated from Zcash's original objectives and implemented malicious governance measures that hindered the development team's work. He added that he will leave ECC to establish a new company. In contrast, Zcash founder Zooko Wilcox has voiced his support for Bootstrap. The report added that while the Zcash network is operating normally despite the resignations, ZEC's price is declining amid the governance risks. According to CoinMarketCap, ZEC is trading at $459.89, down 2.02% over the last 24 hours.

Binance has announced that it will delist 23 spot trading pairs at 3:00 a.m. UTC on Jan. 9. The affected pairs are 1000SATS/FDUSD, 2Z/BNB, AEVO/BTC, BARD/FDUSD, BIO/BNB, DOLO/FDUSD, EDEN/BNB, EDEN/FDUSD, EGLD/BNB, ETHFI/FDUSD, GLMR/BTC, HOT/ETH, HUMA/FDUSD, IOTA/ETH, KAITO/BTC, MIRA/FDUSD, MORPHO/BNB, MORPHO/FDUSD, NEIRO/FDUSD, RONIN/FDUSD, SOMI/BNB, SSV/ETH, and TURTLE/BNB.

BitMine (BMNR) has staked an additional 109,504 ETH, valued at $344.44 million, over the past two hours, according to data platform Onchain Lens. This brings the company's total staked assets to 908,192 ETH, worth approximately $2.95 billion. As of Jan. 5, BitMine held a total of around 4,143,502 ETH.

Global cryptocurrency exchange MEXC has launched its Spot DCA feature, which supports recurring buys for spot assets, according to an official announcement. The function automates the dollar-cost averaging (DCA) investment strategy, a method of regularly purchasing assets to lower the average acquisition cost. The tool aims to help investors systematically accumulate assets in volatile markets by automatically executing purchases within a specified price range based on user-defined rules.

A wallet believed to belong to Wintermute deposited 11.48 million USDT to Binance approximately 30 minutes ago, according to The Data Nerd. Stablecoin inflows to exchanges are typically interpreted as a precursor to buying activity.

An on-chain analysis suggests Bitcoin (BTC) short-term holders (STH) are approaching profitability. CryptoQuant contributor Maartunn noted that the STH Spent Output Profit Ratio (SOPR) is rising toward the key baseline of one. The metric indicates profit-taking when above one and loss realization when below one. Maartunn explained that a sustained move above this level could signal a recovery in bullish momentum.

The U.S. Securities and Exchange Commission's (SEC) crypto task force plans to visit Miami on Jan. 27 to engage directly with industry developers, Crypto Briefing reported.

U.S. spot Ethereum ETFs recorded a net outflow of $98.59 million on Jan. 7, marking a reversal after three consecutive days of net inflows, according to Trader T. Individual fund flows were as follows: - BlackRock (ETHA): -$6.78 million - Fidelity (FETH): -$13.29 million - Bitwise (ETHW): -$11.23 million - Franklin (EZET): +$2.38 million - VanEck (ETHV): -$4.59 million - Grayscale (ETHE): -$52.05 million - Grayscale Mini (ETH): -$13.03 million