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CoinMarketCap's Altcoin Season Index is currently at 32, unchanged from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped tokens, against Bitcoin. An altcoin season is determined to be in effect if 75% of the top 100 coins have outperformed Bitcoin over the past 90 days. A score closer to 100 indicates a stronger altcoin season.

U.S. President Donald Trump will announce his nominee for the next Federal Reserve Chair tomorrow morning, Aggr News reported.

According to the crypto options exchange Deribit, Bitcoin options valued at $7.7 billion are set to expire at 8:00 a.m. UTC on Jan. 30. The contracts have a put/call ratio of 0.49 and a max pain price of $90,000, the level at which the largest number of options buyers would lose their premiums. Additionally, Ethereum options worth $1.2 billion will expire at the same time. These contracts have a put/call ratio of 0.72 and a max pain price of $3,000.

The Crypto Fear & Greed Index from data provider Alternative has dropped 10 points to 16, shifting investor sentiment from a state of fear to one of extreme fear. The index measures market sentiment on a scale where 0 indicates extreme fear and 100 represents extreme optimism. It is calculated based on factors including volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market capitalization dominance (10%), and Google search volume (10%).

Bitmine has staked an additional 314,496 ETH, valued at $887 million, Onchain Lens reported. The company is now staking a total of 2,831,392 ETH, worth approximately $7.98 billion.

A bipartisan deal between President Trump and Senate Democrats is expected to limit a government shutdown to a brief weekend lapse, with minimal impact. According to NBC News, the agreement includes a two-week stopgap for the Department of Homeland Security as broader funding talks continue. The House is set to act when it returns Monday.

Whale Alert reported that 348,000,000 USDC has been transferred from Coinbase Institutional to Coinbase. The transaction is valued at about $348 million.

Whale Alert reported that 308,127,261 USDC has been transferred from an unknown wallet to Coinbase. The transaction is valued at about $309 million.

David Sacks, the White House advisor on AI and cryptocurrency, stated that the U.S. is one step closer to establishing a regulatory framework for digital assets following the passage of the CLARITY Act by the U.S. Senate Agriculture Committee. He added that the administration will continue to work toward its goal of making the United States the global hub for cryptocurrency.

Analysts are warning of a potential sharp decline for Bitcoin if it fails to hold the $84,000 level, which it is currently struggling to maintain. According to CoinDesk, 21Shares analyst Matt Mena described $84,000 as a key support level for BTC. He stated that a break below this point could lead to a retreat to $75,000, though he also noted the possibility of a recovery to $100,000 within the first quarter. Meanwhile, John Glover, Chief Investment Officer at Ledn, analyzed that the current correction is an extension of the downtrend from last year's high. He suggested that in a worst-case scenario, BTC could fall as low as $71,000.

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has signaled a delay in the introduction of innovation exemptions for cryptocurrency firms, according to Decrypt. Speaking at a joint event with the U.S. Commodity Futures Trading Commission (CFTC), Atkins said the SEC is still reviewing the details and that a final plan is unlikely to be confirmed this month or next. The proposed exemptions would pause enforcement actions for specific activities, such as those involving tokenized securities and DeFi. Atkins had previously mentioned a possible January release, but has adopted a more cautious tone after major Wall Street figures recently conveyed concerns about granting amnesty for tokenized securities. He added that the timeline could be affected by the progress of a virtual asset market structure bill currently in the Senate, stating that the agency needs clear direction from Congress.

Sui Wallet has announced its support for DeepBook's (DEEP) point program. The wallet will integrate with an earning campaign that rewards activity across all applications built on DeepBook, allowing Sui Wallet users to accumulate more points.

The three major U.S. stock indices finished the trading day mixed. The S&P 500 declined by 0.13% and the Nasdaq Composite fell 0.72%, while the Dow Jones Industrial Average posted a gain of 0.11%.

Negative sentiment surrounding Bitcoin has climbed to its highest level this year, according to on-chain analytics firm Santiment. The firm noted that as Bitcoin's price fell to its lowest point since Nov. 21 of last year, crypto investors have been expressing significant fear, uncertainty, and doubt (FUD). Historically, Santiment explained, this level of extreme fear often indicates that a sell-off is nearing its final stages. The firm suggested that once retail investors conclude their panic selling, institutional investors are likely to purchase the asset at low prices, potentially driving the price upward. Currently, the crypto market is also being affected by corrections in stocks, gold, and silver, and some instability is expected to continue for the time being.

The U.S. Commodity Futures Trading Commission (CFTC) plans to establish a clear regulatory framework for the multi-billion-dollar prediction market industry, Bloomberg reports. CFTC Chairman Michael Selig stated that rules and awareness are now needed to clarify the agency's support for legitimate innovation. He emphasized that in line with his commitment to promoting responsible innovation in the cryptocurrency market, he will support the sound development of the market for event contracts.

Coinbase Derivatives has announced plans to launch perpetual futures for seven assets: PAXG, ZEC, PEPE, AAVE, ONDO, ENA, and NEAR.

Major exchanges have seen $101 million worth of futures liquidated in the past hour. In the past 24 hours, $1,041 million worth of futures have been liquidated.

U.S. investment bank Benchmark has analyzed that the threat of quantum computing to cryptocurrencies is a problem for decades in the future and that fears of it being fatal to Bitcoin are exaggerated. According to The Block, Benchmark analyst Mark Palmer stated in a research note that while Bitcoin's security structure is theoretically vulnerable to quantum computing, a significant amount of time will be required before an actual attack is feasible. He added that the Bitcoin network will have sufficient time to implement countermeasures. Palmer explained that while cryptographic technology is used for Bitcoin wallets and transaction authentication, a limited risk exists only for addresses where the public key has already been exposed, meaning the entire Bitcoin supply is not a target for attack.

Flying Tulip, a DeFi platform under development by Sonic Labs (formerly Fantom) co-founder Andre Cronje, has secured $25.5 million in a private Series A funding round, The Block reported. The round saw participation from investors including Amber Group and Fasanara Digital. This follows a previous seed round in September where the platform raised $200 million.

Major exchanges have seen $139 million worth of futures liquidated in the past hour. In the past 24 hours, $949 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $84,000. BTC is trading at $83,967.75 on the Binance USDT market.

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced they will sign a Memorandum of Understanding (MOU) to cooperate on regulating the cryptocurrency industry. In a joint interview with The Wall Street Journal, SEC Commissioner Paul Atkins and CFTC Commissioner Michael Selig said the two agencies are discussing how to design crypto regulations and divide supervisory authority, with the MOU intended to formalize their collaboration. The agencies are scheduled to announce specific details of their market supervision plans at a joint event on Jan. 30, which may include defining which body has jurisdiction over specific crypto assets.

Senate Democrats moved to block a six-bill spending package that includes $64.4 billion for the Department of Homeland Security, The New York Times reported. The legislation stalled after a 45–55 Senate vote. Negotiations between Democratic Senator Chuck Schumer and President Donald Trump began Jan. 28 as both sides sought to prevent another government shutdown, which Trump and Republicans have said they want to avoid.

Mike Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said in an interview with CNBC that the cryptocurrency industry will thrive if Congress finalizes a market structure bill. He argued that clear national standards would encourage blockchain companies to return to the United States, establishing the country as a key hub for the crypto market. Selig emphasized that blockchain technology, which has been around for 15 years, has fundamentally changed market development within the agency's jurisdiction. He noted that while the CFTC has repeatedly seen such technology and assets move offshore, the goal is now to bring them back to the U.S.

Major exchanges have seen $103 million worth of futures liquidated in the past hour. In the past 24 hours, $806 million worth of futures have been liquidated.