The global cryptocurrency market witnessed a mild pullback on January 29, with total market capitalization dropping 0.4% to $3.1 trillion and 24-hour trading volume at $115.3 billion, according to CoinMarketCap. Bitcoin (BTC) slipped 0.64% to $88,606, while Ethereum (ETH) declined 0.58% to $2,991. The Fear and Greed Index fell to 26 (Fear), down from 29 the previous day, reflecting cautious investor sentiment.
Altcoins Show Mixed Performance; Worldcoin Leads Gainers
Bitcoin dominance remained strong at 57.3%, with Ethereum at 11.7%. Among altcoins, Worldcoin (WLD) surged 20.22% to $0.5558, with trading volume reaching $577.94 million. Other gainers include Jupiter (JUP) up 7.09% and PAX Gold (PAXG) up 6.40%. On the losing side, River (RIVER) plunged 37.29%, Zcash (ZEC) fell 6.55%, and Tezos (XTZ) dropped 5.85%. Stablecoin market cap held steady at $312 billion, while the DeFi sector edged up 0.4% to $111 billion.
Regulatory and Ecosystem Updates
The SEC issued new guidance on token offerings, distinguishing between issuer-led and third-party models, warning that third-party tokens face higher risks and may be treated as security-based swaps. Coinbase CEO Brian Armstrong hinted at potential compromises to clarify SEC-CFTC roles. Coinbase Markets added Infinex (INX) and Hyperliquid (HYPE) to its listing roadmap. Meanwhile, Whetstone Research raised $9 million in a seed round led by Pantera Capital. The Federal Reserve held rates at 3.75%, with two officials favoring cuts. The Optimism Foundation approved a program to use 50% of Superchain revenue to buy back OP tokens starting in February.
Market Outlook
Compared to January 28, the market cooled notably: total cap slipped from $3.11T (+1%) to $3.1T (-0.4%), trading volume dropped sharply, and both BTC and ETH turned negative. Altcoin rallies faded into selective gains. For traders, uncertainty persists but selective opportunities remain; careful risk management is advised.