Bitfinex

Bitcoin has closed below its yearly open, approaching the $80,822 lows in what marks the **largest pullback of the current cycle**. **Key developments:** - Liquidations reached **$1.7 billion in 24 hours**, surpassing levels seen during the Covid crash and FTX collapse - Uncertainty-driven selling during US trading sessions continues to apply downward pressure - Price action reflects ongoing market stress as traders exit leveraged positions The scale of liquidations indicates significant deleveraging across the market, with forced selling creating cascading price pressure. US session volatility suggests macro uncertainty remains a primary driver of current weakness.

**Tokenised equities are making the leap from theoretical concept to practical implementation.** The digital asset market is witnessing a significant shift as tokenised equities begin to materialize in real-world applications. This development marks a notable evolution in how traditional securities can be represented and traded on blockchain infrastructure. **Key developments:** - Traditional equity instruments are being converted into digital tokens - The transition represents a practical application of blockchain technology in traditional finance - This shift could potentially reshape how securities are traded and settled The move toward tokenised equities suggests growing institutional acceptance of blockchain-based financial instruments. This development occurs as the broader digital asset market continues to mature and integrate with traditional financial systems. [Read the full analysis](https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-in-the-absence-of-spot-demand-btc-is-drifting/)

The New York Stock Exchange is launching a blockchain-enabled trading venue that will operate around the clock for tokenized equities. This marks a significant shift from traditional market hours. **Key developments:** - NYSE's new platform will enable 24/7 trading of tokenized stocks - Companies like Strategy and Bitmine Immersion are adding Bitcoin and Ethereum to their balance sheets as long-term reserves - This follows earlier moves by crypto exchanges to offer on-chain stock trading The initiative represents a practical step in bringing traditional finance infrastructure on-chain, moving beyond pilot programs to operational implementation.

The Federal Reserve maintained interest rates at 3.5-3.75% at its January 2026 meeting, signaling a cautious stance amid ongoing inflation concerns. **Market Impact:** - Bitcoin perpetual futures markets saw significant volatility - Over $250 million in long positions liquidated - Additional $140 million in liquidations recorded - BTC holding near recent lows despite pressure The Fed's decision to keep rates steady reflects limited appetite for monetary easing. For crypto markets, this translates to a measured near-term outlook with constrained upside potential absent new liquidity support. Traders remain cautious as Bitcoin tests key support levels in the wake of the announcement.

**Market Shift Accelerates** The US Dollar has weakened approximately 11% over the past year, while gold has surged 29% in just 28 days, reaching all-time highs around $5,580 per ounce. **Capital Flight to Hard Assets** - Fear of fiat currency depreciation is driving investors toward tangible stores of value - Retail investors are expected to gradually redirect cash savings into more liquid assets - The crypto market appears positioned to benefit from this trend **Historical Context** The BTC/gold ratio previously dropped over 50% from its peak when gold hit $4,700/oz. Following that decline, Bitcoin significantly outperformed gold. Analysts suggest monitoring this relationship as liquidity conditions evolve through 2026.

**Understanding Moving Averages for Bitcoin Trading** Navigating crypto charts doesn't have to be overwhelming. Two fundamental indicators help traders identify trends and potential reversals: **Simple Moving Average (SMA)** - Provides a steady, reliable view of longer-term trends - Example: 50-day SMA shows the bigger picture - Price above SMA suggests bullish momentum - Price below SMA may signal a trend shift **Exponential Moving Average (EMA)** - Reacts faster to recent price movements - Example: 9 or 20-day EMA captures short-term moves - More responsive to current market conditions **Key Takeaway**: SMA offers stability for identifying overall direction, while EMA provides quicker signals for timing entries and exits. Understanding when to use each indicator can improve your trading decisions on Bitcoin charts. Learn more about [applying these strategies](https://blog.bitfinex.com/education/chart-decoder-series-sma-vs-ema-the-foundation-of-trend-trading/) to your trading approach.

US spot Bitcoin ETFs registered their first net inflow of **$6.8 million** on January 26, breaking a five-day redemption streak that saw over **$1.7 billion** exit the market. **Key Points:** - First positive flow after consecutive days of outflows - Single data point insufficient to confirm trend reversal - Market observers questioning if selling pressure has peaked The modest inflow follows a period of significant investor withdrawals, though analysts caution against reading too much into one day's data. Whether this marks a turning point or temporary pause in the selloff remains uncertain.

**XAUt/USD has gained 217% since the current bull run started**, marking a significant rally for the tokenized gold asset on Bitfinex. **Record-breaking momentum**: The pair has traded above its 200-day moving average for over 575 consecutive days - the second longest streak in its history. This sustained performance demonstrates strong market confidence in tokenized precious metals as an alternative digital asset class. [Track XAUt/USD on Bitfinex](https://trading.bitfinex.com/t/XAUT:USD)

Gold has achieved a historic milestone, reaching a market capitalization exceeding $35 trillion - the largest for any asset in recorded history. The precious metal is currently trading at $5,107 per ounce, marking a significant moment in financial markets. This valuation represents an unprecedented level for gold's total market value. **Key Points:** - Gold price: $5,107/oz - Total market cap: Over $35 trillion - Status: Largest asset market cap ever recorded This development underscores gold's continued role as a store of value and safe-haven asset in global markets.

Bitfinex has launched **Bitfinex Alpha**, a newsletter service providing subscribers with early access to market intelligence and analysis. **Key Features:** - Early insights and market analysis delivered directly to subscribers - Product updates from Bitfinex - Professional-grade market intelligence - Free access to the newsletter The service aims to give traders access to information before broader market movements occur. Subscribers receive weekly content covering macro analysis, crypto trends, and on-chain data. Interested users can sign up through Bitfinex's dedicated [Alpha signup page](https://go.bitfinex.com/AlphaSignUpPage).