📈 Crypto Market News – January 23, 2026
- Market Overview: Friday Options Expiry The market is facing a volatility test today as a significant amount of Bitcoin and Ethereum options contracts are set to expire. The global crypto market cap is holding steady at $3.40 Trillion.
Impact: While options expiry can cause short-term price "pinning," the overall trend remains bullish as traders roll over their positions into February contracts, signaling long-term confidence.
- Bitcoin (BTC) Consolidates Above Breakout Bitcoin is trading at $95,200, successfully turning the previous $95k resistance into support.
Technical: This "flip" is crucial. If BTC can close the week (Sunday) above this level, it confirms the breakout is legitimate and not a "bull trap."
Sentiment: The Fear & Greed Index is currently in "Extreme Greed" (82), advising some caution for leverage traders.
- Ethereum (ETH) Outpaces Bitcoin Ethereum is showing relative strength today, trading near $3,420.
Rotation: The ETH/BTC ratio has bounced from a key support level. This often signals the start of a capital rotation where profits from Bitcoin move into Ethereum and high-cap altcoins for the weekend.
- Mining Sector: Hashrate All-Time High The Bitcoin network security has never been stronger. The total Hashrate (computing power securing the network) hit a new record high today.
Analysis: Despite the upcoming halving being years away (2028), mining companies are investing heavily in new hardware, showing their profitability and long-term bullish outlook at these price levels.
- Hong Kong Crypto ETFs Expansion News from Asia reports that Hong Kong regulators are considering approving "Staked ETH" ETFs.
Global Trend: This move puts pressure on US regulators to follow suit. The prospect of earning yield on ETF holdings is a massive draw for institutional investors, potentially unlocking a new wave of demand from the East.
