Journalist
Sead Fadilpašić
Journalist
Share
The crypto market is up today. After sitting on the boundary between appreciation and drop yesterday, unchanged over the previous day, the cryptocurrency market capitalisation saw the green prevail, rising 2.2% over the past 24 hours. It now stands at $3.12 trillion. Also, 90 of the top 100 coins posted price increases. The total crypto trading volume stands at $128 billion.
TLDR:
Crypto Winners & Losers
On Wednesday morning (UTC), 9 of the top 10 coins per market capitalisation have seen their prices appreciate.
Bitcoin (BTC) increased by 1.7%, currently trading at $89,419. This is the smallest green percentage in the category.
Ethereum (ETH) appreciated just 3.8%, changing hands at $3,020. This is the category’s second-highest jump.
Among the best performers is Binance Coin (BNB), which increased by 3.4%, now trading at $905.
At the same time, the only fall among the top 10 is 0.7% by Tron (TRX), now trading at $0.2921.
Furthermore, of the top 100 coins per market cap, 90 have posted price increases today.
Hyperliquid (HYPE) is the day’s highest gainer, posting the category’s only double-digit rise of 25.3% to $34.62.
Canton (CC) follows with a 9.4% increase to $0.1655.
On the red side, at the top, we find River (RIVER). It’s down 9.3% to the price of $54.55.
Provenance Blockchain (HASH) follows, falling 7.6% to $0.02531.
The rest are down 3% and less per coin.
Meanwhile, Bitcoin jumped in early Asia trade as well, initially seeing a choppy open. Investors have since focused on US earnings and discussions on more funding for OpenAI.
ETH Trading In a Key Zone
Bitwise Chief Investment Officer Matt Hougan recently said that crypto markets now have a critical three-year window to prove their real-world utility. Otherwise, the ongoing legislative uncertainty in the US could halt industry momentum.
“If, at the end of three years, we’re all using stablecoins and trading tokenized stocks, we’ll get positive crypto legislation regardless of who is in charge,” Hougan wrote. “But if crypto is instead still operating on the edges, a change in Washington could be a huge setback.”
Glassnode analyst Chris Beamish wrote on Twitter that ETH is trading in a breakeven zone for many holders.
Notably, he argues that this is a key level on which the next move depends.
“Holding here suggests absorption and base building,” Beamish writes. A breakdown, however, “would move price into thinner support where underwater supply may derisk.”
Nic Puckrin, investment analyst and co-founder of Coin Bureau, argues that BTC needs the move above the $100,000 mark.
“The longer Bitcoin remains under $100,000, the more momentum will trend to the downside,” he writes in a comment.
A new all-time high in 2026 isn’t out of the question yet, Puckrin says, but “the next 30 days will be crucial in determining whether a bear market is already here.”
Levels & Events to Watch Next
At the time of writing on Wednesday morning, BTC was changing hands at $89,419. It started the day at the 87,990 level, soon reaching the intraday low of $87,315. However, it then surged to the day’s peak of $89,419.
It has turned red in the 1-week timeframe as well, even if barely. It’s up 0.2%, trading between $86,319 and $90,475.
BTC hasn’t been able to break the $90,000 level by the time of writing, but breaking it would open doors for higher zones, starting with $91,500-93,000. Staying above $91,200 could help it move up to $93,300 and then $95,500. Otherwise, it will return towards $86,000.
At the same time, Ethereum was trading at $3,020. Similarly to BTC, ETH attempted a jump higher earlier in the day, from the low of $2,899 to the $2,989 level. It, however, wasn’t able to hold it this time. It plunged before initiating a more sustainable push upwards, surpassing $3,000 and hitting the intraday high of $3,028.
Over the past week, ETH appreciated 2%, moving in the $2,801–$3,044 range.
ETH now has a chance to reclaim even higher levels, starting with $3,100, then $3,180 and $3,220. A bearish pullback would take it back to $2,900 and $2,840.
Moreover, the crypto market sentiment has seen an increase after a couple of days of sitting on the fence.
The crypto fear and greed index currently stands at 34, compared to 29 seen over the past two days.
Notably, despite this jump, the metric remains within the fear zone. A higher surge in optimism is needed to push it back into the neutral territory.
ETFs Inflows Were Short-Lived
After a minor uptick yesterday, which broke a week-long red streak, the US BTC spot exchange-traded funds (ETFs) posted outflows again on Tuesday. These funds let go of $147.37 million in total on 27 January.
Therefore, the total net inflow decreases to $56.35 billion.
Of the twelve ETFs, two saw outflows. BlackRock said goodbye to $102.81 million, while Fidelity posted outflows of $2.79 million.
The US ETH ETFs also recorded outflows during the Tuesday session. These totalled to $63.53 million. The total net inflow now stands at $12.36 billion.
Of the nine ETH ETFs, one saw inflows, and two posted outflows. Grayscale ETH Mini Trust added $9.99 million.
However, BlackRock recorded $58.97 million in negative flows, followed by Grayscale’s $14.55 million.
Meanwhile, in the US, a South Dakota lawmaker has reintroduced legislation that would allow the state to invest a portion of its public funds in Bitcoin.
It would amend South Dakota’s public investment statutes and permit the State Investment Council to allocate up to 10% of eligible state funds to BTC. Moreover, the bill would allow exposure through direct holdings, qualified custodians, or regulated exchange-traded products.
Quick FAQ
- Did crypto move with stocks today?
The crypto market has posted a higher increase over the past 24 hours than seen a day prior. Meanwhile, the US stock market closed the previous session with a mixed picture. By the closing time on Tuesday, 27 January, the S&P 500 was up 0.41%, the Nasdaq-100 increased by 0.88%, and the Dow Jones Industrial Average fell by 0.83%. Also, gold futures hit a new record, while their silver counterparts pulled back after a new high seen on Monday.
- Is this rally sustainable?
We could see prices rise further over the following days. However, participants should not be surprised by sudden pullbacks either, as these are normal for the market. Incoming macro signals could affect the price movement in either direction.