Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 89,231.0 | -0.01% |
| Ethereum (ETH) | 3,001.53 | -0.67% |
| Nasdaq (NAS100) | 26,172.0 | +0.74% |
| S&P 500 (SPX) | 6,978.59 | +0.41% |
| Russell 2000 (RUT) | 2,676.9 | +0.31% |
| U.S. Dollar Index (DXY) | 95.710 | +0.32% |
| EUR/USD | 1.20025 | -0.31% |
| VIX Volatility Index | 16.35 | +1.24% |
| U.S. 10-Year Yield | 4.23550 | +0.55% |
| Brent Crude Oil (BRENT) | 67.379 | -0.15% |
| LBMA Gold (XAU) | 5,282.03 | +1.99% |
| LBMA Silver (XAG) | 114.269 | +2.18% |
“Prepared at UTC 07.32 am”
Today’s Key Events
- Fed Interest Rate Decision to be Announced
- Fed Chair Press Conference
- Tesla, Microsoft, and Meta Earnings Reports
- Jupiter and Sign Token Unlocks
Fed Interest Rate Decision Expected
Nick Timiraos wrote that the Fed is expected to pause its rate cut process. It was noted that for a new rate cut, either a significant deterioration in the labor market or a clear drop in inflation to 2% would be required. The Fed is expected to make limited language changes in its statement. Bowman and Waller’s stance is being closely watched by the markets. Waller’s signal is considered particularly important in terms of his future Fed chairmanship prospects.
Middle East Tensions
The US announced that it will conduct a multi-day preparatory exercise for its air forces in the Middle East. The exercise aims to demonstrate rapid deployment, dispersed base establishment, and sustainable operational capabilities. While the US is expected to complete preparations for a possible military operation against Iran within two weeks, it was noted that a window of opportunity could open in the coming months. Oil prices rose by about 3%, while COMEX gold rose by about 2%. Although it was stated that the operation could be brought forward by Trump’s order, it was emphasized that this is not expected in the near term.
Trump’s Dollar Comments
Trump said he was not concerned about the weakening of the dollar and was satisfied with its current level. He stated that exchange rates could move up and down like a “yo-yo,” but indicated that he did not favor such interventions. Emphasizing that he wanted the dollar to find its own level, Trump criticized Japan for deliberately keeping its currency weak. The comments suggested that limited dollar weakness might be tolerated to support exports. This approach put downward pressure on the dollar and upward pressure on gold.
US Government Shutdown
Senate Republican Leader Thune announced that both parties are continuing negotiations with the White House to prevent a partial government shutdown. Democrats are demanding that the Department of Homeland Security be removed from the main budget package or that immigration policies be restricted in order to support funding. Republicans, on the other hand, want a clear list of demands from Democrats before making a decision. Immigration and border security issues are particularly prominent in the negotiations. The current situation indicates that the risk of a shutdown has not been completely eliminated.
Maduro Funds Investigation
US officials are investigating whether digital assets are among the sources of funding for the Maduro regime. The investigation will cover whether these assets include physical commodities or digital assets. Patrick Witt, Executive Director of the White House Digital Assets Advisory Council, stated that numerous officials within the national security system are investigating this issue.
Japan Cryptocurrency Regulations
The Japan Financial Services Agency (JFSA) has begun soliciting public opinion on detailed rules regarding digital payment and cryptocurrency regulations. The draft specifies the implementation requirements of the Payment Services Act, which was revised in 2025, and includes updates to the regulatory framework. Furthermore, as part of the roadmap, Japan’s first spot crypto ETFs are planned to be launched in 2028.
SEC Gemini Case
Under new leadership, the SEC has softened its enforcement approach toward crypto and dismissed some cases. In this context, the case against Gemini Trust Company regarding the Gemini Earn product has been dismissed. The decision was made after years of negotiations.
CLARITY Act Uncertainty
The failure of the CLARITY Act to make progress in Congress is considered a critical turning point for the crypto sector. Bitwise has stated that if the bill is not passed, the sector could be vulnerable to regulatory uncertainty. According to Polymarket data, the probability of the bill being passed has fallen from approximately 80% to 50%.
Bitcoin Reserves Bill
South Dakota State Representative Logan Manhart has reintroduced the Bitcoin Reserves Bill HB 1155. The bill aims to allow the state investment board to invest up to 10% of public funds in Bitcoin. If passed, South Dakota would become one of the few states to allow Bitcoin allocation at the state level.
CME Precious Metals Margins
CME Group announced that it has adjusted margin rates for certain silver, platinum, and palladium futures contracts. According to the announcement, new margin rates for some silver contracts have been raised to approximately 11% of the notional value. The new margin standards will take effect after the close on January 28 local time.
Bitwise Uniswap ETF Registration
Bitwise has registered a legal trust entity in the state of Delaware for a fund called the “Bitwise Uniswap ETF.” This step is seen as preparation for a possible future ETF application related to Uniswap. Analysts note that such registrations often come months before official filings with the SEC and frequently do not progress to later stages.
Ripple Treasury Platform
Ripple’s subsidiary GTreasury has launched a digital asset management platform called Ripple Treasury. The platform aims to combine corporate treasury processes with a digital asset infrastructure. Ripple Treasury supports 24/7 cross-border payments and corporate custody services.
Rodeo Platform Shutdown
Social NFT platform Rodeo has announced that it will be phased out. The platform will continue to operate between January 27 and February 10, after which it will switch to read-only mode. The full shutdown is planned for March 10.
