The global cryptocurrency market pulled back over the last 24 hours, with total capitalization falling to $3.21 trillion, down 1.4% on the day. Trading activity stayed elevated at $117.5 billion, but price action weakened across major assets. At the same time, the Fear & Greed Index dropped from 42 yesterday to 28, placing sentiment in the fear zone.
Bitcoin and Ethereum retreat while majors lose momentum
Bitcoin traded at $91,240.06, down 1.36% in 24 hours, with trading volume at $41.43 billion and market capitalization at $1.82 trillion. Ethereum changed hands at $3,167.68, falling 2.7% over the same period, with volume of $22.1 billion and market cap near $382 billion. Bitcoin’s market dominance stood at 56.7%, while Ethereum accounted for 11.9%.
Outside the two largest assets, performance was mixed. Among the strongest 24-hour gainers, zkPass (ZKP) climbed 62.02%, Brevis (BREV) rose 24.53%, and Dinosol (DINO) added 10.19%. On the losing side, Pump.fun (PUMP) fell 8.87%, Pudgy Penguins (PENGU) dropped 7.26%, and Story (IP) declined 7.04%. The spread between winners and losers points to selective positioning rather than a broad market rebound.
DeFi and stablecoin segments also softened
Sector data showed weakness beyond large-cap tokens. Stablecoins posted a 0.2% negative move over the last 24 hours, with market capitalization at $312 billion and trading volume at $94.7 billion. The DeFi market fell 3.6% to $112.8 billion, while volume reached $4.36 billion. DeFi dominance was reported at 3.5%. That mix suggests risk appetite remained limited even with strong overall turnover.
Market developments span hacks, XRP trading, and regulation
Several industry updates landed during the same session. Prediction market bot TGBot Polycule was hacked, affecting about $230,000 in user funds. A crypto whale also closed a large Bitcoin long after a pullback, realizing a $3.8 million loss, and withdrew most USDC from Hyperliquid.
Infrastructure and policy headlines were also active. Flare launched the first XRP spot market on Hyperliquid, enabling FXRP/USDC trading. World Liberty Financial said its unit, World Liberty Trust, filed a de novo application with the OCC on January 7 to seek a national trust bank charter for issuing USD1. The US Senate Banking and Agriculture Committees are set to vote on crypto rules on January 15. Separately, JPMorgan Kinexys and Digital Asset plan to deploy JPM Coin on the Canton Network in 2026 for issuance, transfer, and instant redemption.
For now, the market picture is clear enough: major coins moved lower, volumes stayed high, and sentiment deteriorated sharply in a single day. Capital is still active, but caution is dominating short-term trading conditions.