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Cryptocurrency Asset Overview
BTC (+0.85% | Current Price 89,342 USDT)
BTC has shown a volatile correction trend over the past day, with prices repeatedly oscillating within the 88,800–89,800 USD range. The rebound following the sharp decline on the 26th continues, but selling pressure above remains. The moving average system has shifted from bearish to bullish, with MA5, MA10, and MA30 forming a bullish alignment, and the current price trading above these three moving averages, indicating a short-term bullish trend but still in the recovery phase. The MACD is above the zero line and maintains a golden cross structure, with the red histogram gradually enlarging, suggesting short-term bullish momentum. Overall, if BTC can hold steady above 89,000 USD and increase volume to break through 90,000 USD, it may further challenge the previous high near 91,200 USD; conversely, if it falls back and breaks below the support zone of 88,800–88,400 USD, caution should be exercised for a potential rebound failure and

Cryptocurrency Market Overview
BTC (+0.85% | Current Price 89,342 USDT): BTC has shown a volatile correction trend over the past day, with prices repeatedly oscillating within the $88,800–$89,800 range. The rebound following the sharp decline on the 26th continues, but selling pressure above remains. The moving average system has shifted from bearish to bullish, with MA5, MA10, and MA30 forming a bullish alignment, and the current price trading above these three moving averages, indicating a short-term bullish trend but still in the recovery phase. The MACD is above the zero line and maintains a golden cross structure, with the red bars gradually enlarging, suggesting short-term bullish momentum is dominant. Overall, if BTC can hold steady above $89,000 and increase volume to break through $90,000, it may further challenge the previous high near $91,200; conversely, if it falls back below the support zone of $88,800–$88,400, caution should be taken as the rebound may weaken and reverse.

Summary
User trading demands are shifting from single-asset crypto to macro multi-asset strategies. TradFi offers CEX longer trading cycles, higher capital retention, and stronger hedging capabilities.
Gate TradFi leverages the MT5 trading system to support traditional asset CFDs, covering precious metals, stock CFDs, indices, forex, and commodities. Trading is based on price fluctuations rather than holding the underlying assets, with no expiration and no delivery required.
Gate TradFi uses USDx as the accounting and display unit, supported 1:1 by USDT, allowing users to participate in TradFi trading within a familiar trading system without manual currency exchange.
1. Background: TradFi is the next growth curve for CEX
In the past two years, user trading demands have shifted from single-asset crypto to macro multi-asset allocation. The reason is that not all high-certainty opportunities occur in the crypto market.

Last week, the market performance was weak, with BTC and ETH both showing weak oscillations, and the rebound mainly due to technical correction. On-chain capital flow was defensive, with Ethereum attracting net inflows, while multiple networks experienced capital outflows. This report will analyze these trends in depth, providing market data and technical insights.

Cryptocurrency Market Overview
BTC (+0.98% | Current price 88,575 USDT): The risk of government shutdown and tariff-related policies are jointly suppressing global economic growth expectations, leading to a significant increase in market risk aversion. Over the weekend, Bitcoin briefly dropped nearly 3%, touching the 86,000–86,500 USD range, then rebounded about 1.3%, climbing back to around 87,000 USD. However, after the rebound, the price remains below the local low formed last week and is trading below the 50-day and 200-day moving averages, indicating that, in the context of temporarily controlled volatility, short-term selling pressure still dominates. Last week, spot Bitcoin experienced a net outflow of approximately 1.32 billion USD, the highest level since February 2025. Although Bitcoin is still in a controlled retracement phase, the overall price structure has shown clear signs of fatigue.
ETH (+1.88% | Current price

Cryptocurrency Asset Panorama
BTC (-1.69% | Current price 87,655.4 USDT)
After a sustained decline from previous highs, BTC experienced an emotional accelerated drop on the 26th, with a low of approximately $86,100. Subsequently, driven by oversold conditions and short-term short covering, it showed a technical rebound, but the rebound was limited. The current price remains below medium-term moving averages such as MA30, and the overall structure remains in a bearish arrangement. From macro and fundamental perspectives, there is no single major negative factor; ETF and long-term supply and demand logic have not been broken. In the short term, BTC is likely to fluctuate within the $86,000–$88,500 range to digest selling pressure, with caution needed for repeated tests after rebound resistance in the medium term. Over a longer cycle, as long as macroeconomic conditions do not significantly worsen and long-term capital logic remains unchanged, BTC is more likely to oscillate within a wide range at high levels rather than trend downward unilaterally.

Cryptocurrency Market Overview
BTC (-1.69% | Current price 87,655.4 USDT): After weakening at high levels, BTC experienced an accelerated pullback on the 26th, with a low of approximately 86,100 USD. It then rebounded from oversold conditions, but the rebound was limited, and the price remains below medium-term moving averages such as MA30, indicating a generally bearish structure. On the macro and fundamental levels, there are no major negative factors, and the ETF and long-term supply and demand dynamics remain intact. In the short term, BTC may fluctuate within the 86,000–88,500 USD range to digest selling pressure, with potential risks of a pullback after a rebound stalls; over a longer cycle, if macro conditions remain stable, Bitcoin is more likely to oscillate within a high range rather than trend downward unilaterally, thus building conditions for subsequent market movements.
ETH (-2.35% | Current price 2,881.78 USDT): ETH at 2

Cryptocurrency Asset Panorama
BTC (+0.29% | Current price $89,781.7)
After a rapid decline earlier, BTC formed a clear stage low around $87,256, followed by a quick rebound back above $89,000. Currently, the price remains in a range of $89,300–$89,900, consolidating with sideways movement. Overall, panic selling pressure has been largely released during the previous decline, and the market has entered a phase of recovery and digestion through sideways consolidation. The short-term trend has shifted from weak to neutral and slightly stable. From a technical perspective, short-term moving averages are gradually flattening, with MA5 and MA10 beginning to approach the price, while MA30 remains slightly downward, exerting some resistance above, indicating that the current structure is still in a consolidation and bottoming phase. Previously, the rebound from around $87,000 was accompanied by significant volume, indicating strong activity in that region.

Cryptocurrency Market Overview
BTC (+0.29% | Current price $89,781.7): After a rapid decline earlier, BTC formed a clear seasonal low around $87,256, followed by a quick rebound that brought it back above $89,000. Currently, the price is consolidating within the $89,300–$89,900 range. Overall, panic selling pressure has been largely released during the previous decline, and the market has entered a phase of correction and sideways digestion. The short-term trend has shifted from weak to neutral and stable. From a technical perspective, short-term moving averages are gradually flattening, with MA5 and MA10 beginning to approach the price, while MA30 remains slightly downward, exerting some resistance above. This indicates that the market is still in a consolidation and bottom-building phase. The previous rebound from around $87,000 was accompanied by significant volume, showing strong support in that area.

Cryptocurrency Asset Overview
BTC (+1.19% | Current Price 90,086.0 USDT)
In the past week, BTC stabilized at a low after a rapid decline, with prices oscillating around a key support zone. After six days of decline, the current trading price fluctuates between $88,000 and $89,000, down nearly 10% from the recent high of approximately $98,000. Factors contributing to this decline include: Trump's threat to impose tariffs on Greenland, significant adjustments in global bond prices, record highs in precious metals, and market risk asset sell-offs. The short-term moving averages are still below the medium- and long-term averages, and the trend has not fully reversed. However, the MACD is rebounding from low levels, and bearish momentum is weakening, indicating a temporary easing of downward pressure and a phase of correction.
ETH (+2.11% | Current Price 3,026.99

Summary
BTC and ETH retraced and recovered from lows; risk-averse sentiment among funds increased, flowing into tokenized commodities, payments, and privacy-focused blue-chip sectors.
Solayer established a $35 million ecosystem fund to accelerate the deployment of high-performance on-chain applications.
Ondo expanded to Solana, adding tokenized stocks and ETF assets.
Vitalik proposed a native Ethereum DVT solution; Mask Network took over the Lens protocol.
Ark Invest's "Big Ideas 2026" report predicts that by 2030, the total crypto market cap will reach $28 trillion, with Bitcoin price around $762,000.
Market Analysis
Market Commentary
BTC Market — Over the past week, BTC stabilized after a rapid decline, with the price

The 2025 crypto market performance shows significant volatility, with the transaction volume of major public chains expanding. The forecasted market and crypto payments are growing in tandem. Funding approaches $34.9 billion, but the risk of security incidents increases, highlighting the importance of auditing and access control.

Recent options market data shows that BTC implied volatility is at 42%, ETH at 56%, with ETH volatility dropping to a very low level. In the short term, demand for put options is rising, and large trades in BTC and ETH are mainly focused on put spreads. The Gate platform has launched a new strategy tool to simplify multi-leg options trading and improve trading efficiency.

Cryptocurrency Asset Overview
BTC (-7.02% | Current Price 89,004 USDT)
BTC has continued its weak oscillation trend over the past day, with the price retreating from highs and steadily declining along the short-term moving averages. Currently trading near $89,000, it remains under short-term pressure. The moving average structure shows a clear bearish alignment, with MA5 and MA10 crossing below MA30 and the three lines diverging downward, indicating that the short-term trend has not yet stabilized. The MACD is below the zero line, with the fast and slow lines maintaining a death cross structure. Although the momentum histogram shows signs of convergence, no clear reversal signal has appeared. Overall, BTC remains in a weak consolidation phase within a downward channel. If it cannot quickly recover the $90,500–$91,000 range, attention should be paid to the support level around $88,000; conversely, if trading volume increases and it recovers near MA10 and MA30, the downward pressure may be alleviated.

Gate Research Institute Daily Report: On January 21, the overall crypto market retreated and consolidated, with risk appetite significantly cooling down. BTC and ETH moved downward in tandem under pressure, with BTC breaking below the short-term moving average system and falling back to around $89,000. ETH's decline was relatively larger, remaining in a weak recovery phase, dragging down the mainstream assets and the index. In terms of hotspots, mid-cap assets such as AIA, MBG, and ARC performed strongly against the trend amid narratives around AI Agents, traditional finance on-chain, and developer tools, showing significant structural differentiation. On the structural signals, Ethereum's staking demand continued to warm, with unstaking pressure easing and the staking ratio approaching 30%; meanwhile, Solana's staking rate rose to 68.8%, hitting a new high, indicating that some public chain ecosystems are still attracting medium- and long-term capital allocation. However, whether the overall market can stabilize still depends on emotional recovery and the return of incremental funds.

Last week, the crypto market rebounded, with BTC entering a high-level consolidation, and ETH performing more steadily. Capital flow was concentrated in high-efficiency trading scenarios, with Perp DEX and prediction markets attracting significant funds. The report will provide an in-depth analysis of these trends, along with market data and technical insights.

Gate Research Institute: Bitcoin's short-term trend shows a volatile upward pattern, with Ethereum continuing to stay firmly above $3,000, and the overall upward trend still ongoing. Influenced by WLFI launching a lending market supported by Dolomite, DOLO has surged over 55%; Dusk's price has increased over 28%, reflecting positive factors from the DuskDS Layer-1 upgrade; DASH has recently risen about 18% due to overselling. The number of ETH waiting in line to join the Ethereum PoS network has continued to rise to 2.17 million, reflecting market confidence in Ethereum's long-term staking yields and network security. Currently, this is a critical window for the passage of the "Clarity Act"; failure to reach an agreement could increase the risk of delays or failure of the bill.

Cryptocurrency Asset Panorama
BTC (-2.48% | Current Price 92,639.9 USDT)
BTC experienced a rapid deleveraging during its high-level oscillation. From the trend perspective, after a previous surge, the price continued to consolidate sideways, with short-term moving averages (MA5, MA10) gradually flattening and beginning to turn, while the medium-term moving average (MA30) remains relatively flat. The quick dip on the 1-hour chart was mainly triggered by breaking below the lower boundary of the consolidation zone, leading to stop-losses and leverage liquidations (over $220 million in margin calls in the past 4 hours). The long lower shadow indicates significant support around $92,000. Looking ahead, as long as BTC holds above the $92,000 support level, the trend may enter a range-bound consolidation between $92,000 and $96,000. The $95,000–$96,000 zone remains an important short-term resistance for a rebound; only a re-penetration above this level would...

Cryptocurrency Market Overview
BTC (-2.48% | Current price 92,639.9 USDT): BTC experienced a rapid deleveraging and pullback amid high-level oscillations. The price consolidated sideways after a previous surge, with short-term moving averages (MA5, MA10) flattening and turning upward, while the medium-term moving average (MA30) remains relatively flat. Short-term momentum has cooled but the structure remains intact. After breaking below the lower boundary of the consolidation, stop-losses and liquidations were triggered, causing a quick dip on the 1-hour chart and forming a long lower shadow, with significant support around $92,000. If the $92,000 support can be maintained, the trend may continue to oscillate within the $92,000–$96,000 range; resistance on the upside remains at $95,000–$96,000 for a rebound.
ETH (-2.78% | Current price 3,200.36 USDT): ETH followed BTC's decline, with a generally passive overall structure. The price