[LIVE] Crypto Markets Update – Jan. 8, 2026
The crypto market traded broadly lower over the past 24 hours as risk sentiment weakened. Bitcoin fell below $91,000, dragging most major sectors into the red. According to SoSoValue data, BTC slipped 1.8%, while Ethereum dropped more than 3%, trading below $3,200.
The RWA sector led losses, shedding nearly 3%, while DeFi, Layer 2, and PayFi also posted notable declines. Only SocialFi managed to outperform slightly, as a few tokens bucked the broader downward trend.
Market sentiment deteriorated further, with the Crypto Fear and Greed Index sliding to 29, firmly in “panic” territory, signaling growing investor caution amid ongoing volatility.
Follow our live coverage below for all the latest developments across crypto.
Vitalik Buterin: Ethereum Marries BitTorrent Scale With Linux Appeal
Ethereum co-founder Vitalik Buterin compared the network to BitTorrent and Linux, highlighting its potential to combine mass adoption with enterprise trust.
“Ethereum’s Layer 1 is designed to function as a core financial and infrastructure base for both individuals and organizations seeking high autonomy,” Buterin said.
It allows users to leverage the network without intermediaries while supporting large-scale applications and institutional use.
Bitcoin Likely to Stall in Q1 2026, Says CryptoQuant
CryptoQuant CEO Ki Young Ju expects Bitcoin to trade sideways in the first quarter of 2026. He cites a slowdown in capital inflows as investors rotate toward equities and precious metals like gold and silver.
“Capital inflows into Bitcoin have dried up,” Ju said Wednesday.
While Bitcoin often sees strong momentum early in the year, the current setup points to subdued price action rather than a sharp rally or sell-off.
Phantom Wallet Launches Crude Oil Perps With Up to 20x Leverage
Phantom Wallet introduced a new perpetual futures market for crude oil, called the CL–Crude Oil perps, on January 6.
The contracts allow traders to go long or short with up to 20x leverage, depending on jurisdiction and platform rules. Phantom clarified that these are perpetual contracts, not ownership of physical oil, and cautioned that perpetual trading carries significant risk.
Bitmine Stakes Another 109,500 ETH, Total Nears 910,000 ETH
Institutional crypto giant Bitmine has significantly increased its Ethereum holdings, staking an additional 109,504 ETH (worth roughly $344 million), according to Onchain Lens.
This brings Bitmine’s total pledged ETH to 908,192 tokens, valued at nearly $2.95 billion. The move highlights ongoing institutional confidence in Ethereum’s staking ecosystem, even as the broader market sentiment remains cautious.
ETF Flows Turn Red: Bitcoin Leads Outflows
Investor sentiment was reflected in crypto ETF flows, which turned negative on January 7 (ET).
Bitcoin spot ETFs saw net outflows of $486.1 million, led by withdrawals from BlackRock’s IBIT and Fidelity’s FBTC.
Ethereum ETFs recorded $98.3 million in outflows, with Grayscale’s ETHE accounting for over half.
XRP ETFs also fell, posting $40.8 million in net outflows, largely due to a $47.25 million withdrawal from 21Shares’ TOXR.
