📈 Crypto Market News – January 29, 2026

1. Market Overview: Post-Fed Relief Rally The markets have reacted positively to yesterday's Federal Reserve announcement. The global crypto market cap has risen to $3.48 Trillion.

The Trigger: The Fed kept interest rates unchanged as expected but signaled that inflation is "moving sustainably towards 2%," which traders interpreted as a green light for risk assets.

1. Bitcoin (BTC) Taps New Local High Bitcoin has pushed through the volatility, tapping $97,100 before stabilizing around $96,800.

Analysis: The "event risk" is now behind us. With the uncertainty of the Fed meeting removed, capital is flowing back into Spot BTC markets. The next major resistance is the all-time high zone.

1. DeFi Derivatives Volume Explodes Decentralized perpetual exchanges (Perp DEXs) like dYdX and GMX are seeing record trading volumes today.

Trend: Traders are preferring decentralized venues to speculate on post-Fed moves, wary of centralized exchange outages during high-volatility events. Governance tokens for these platforms are outperforming the wider market.

1. Ethereum (ETH) Gas Fees Rise Network activity on Ethereum has spiked significantly.

Metric: Gas fees have jumped to 35 gwei, driven by a sudden surge in NFT trading volume.

Context: "Blue Chip" NFT collections are seeing a floor price recovery today, suggesting that profits from the recent crypto rally are finally rotating back into the digital collectibles sector.

1. UK Crypto Hub Ambitions The UK Treasury released a report this morning reaffirming its commitment to making Britain a "global crypto asset hub."

News: They announced a pilot program for "Digital Gilts" (government bonds on blockchain), which is boosting sentiment regarding institutional adoption in the European session.