Written by Omkar Godbole (all times Eastern Time unless otherwise noted)
US credit unions, along with banks, are refusing to pay incentives for holding stablecoins, while crypto traders await US inflation data that could spur Bitcoin purchases.
The Digital Asset Market Transparency Act is a proposed regulatory framework that classifies digital assets into three main categories: BTC$91,978.21 and ether Ethereum$3,139.79 Overseen by the CFTC, investment contract assets are regulated by the SEC, and stablecoins are allowed for payments. Credit unions, banks, and crypto companies disagree about paying interest on stablecoin holdings.
It looks like victory has been secured for the time being. Senators released an updated draft proposal Tuesday morning that would prohibit digital asset service providers from paying “any form of interest or yield” solely for the purpose of holding payment stablecoins.
Regardless of the outcome, analysts are optimistic that the bill's passage is likely to help set new world records. BTC and a wider market.
Matthew Hogan, chief investment officer at Bitwise, told “If passed and signed instead, we would be at a new all-time high.”
Prediction markets currently predict an 80% chance that the bill will be signed into law by the end of the year.
In the cryptocurrency market, the top 10 tokens by market capitalization, including Bitcoin, Ether, XRP, and Solana, rose by 1-2% in 24 hours. The broader market showed strength, with XMR, IP, and MYX all up more than 15%, and the CoinDesk 80 index trading 3% higher.
Still, traders are holding back, said Summer Hassun, senior market analyst at XS.com. They are waiting for the US December inflation figures to be released at 8:30am.
Consumer prices rose 2.6% from a year earlier, slowing from 2.7% in November, according to FactSet estimates. A decline could strengthen expectations for a Fed rate cut and send Bitcoin higher along with other risky assets.
“Bitcoin and stocks could regain momentum if the data softens,” Vikram Subburaj, CEO of Giottus.com, said in an email. But a better-than-expected number could dampen expectations for a rate cut, embolden dollar bulls and hurt risk sentiment.
Note that JPMorgan is no longer predicting a rate cut this year and has indicated that borrowing costs are likely to rise in 2027.
More information: For an analysis of today's activity in altcoins and derivatives, see Crypto Markets Today.
what to see
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- cryptography
- January 13th, 1pm: Hedera (HBAR) upgrades mainnet to v0.68.
- January 13, 9:30pm: The Fermi hard fork upgrade of the BNB Smart Chain has been enabled, reducing block times from 750ms to 450ms.
- macro
- January 13th, 8:30 a.m.: US December consumer price inflation rate. Headline rate expected 2.6% YoY, estimated 0.3% m/m; Core rate expected 2.7% YoY, estimated 0.3% m/m.
- revenue (estimated based on FactSet data)
token event
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- Usual DAO is voting to acquire Fira, a fixed rate lending infrastructure developed by Usual Labs, for $1.72 million. Voting ends on January 13th.
- The Moon administration has voted to build a DAO-operated MOON bridge between Arbitrum One and Nova. Voting ends on January 13th.
- January 13th: Off Script toninterview series. ton Foundation, Prime Minister.
- unlock
- January 13th: Chel$0.5610 Freeing up 2.78% of circulating supply worth $11.71 million.
- Activate token
- January 13th: Fogo token generation event occurs.
- January 13: Recall token airdrop claim period ends.
conference
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
market movements
- BTC Up 0.58% from 4pm ET on Monday to $91,984.13 (24 hours: +1.91%)
- Ethereum Up 0.55% to $3,129.76 (24 hours: +0.94%)
- CoinDesk 20 rose 0.3% to 2,914.54 (24 hours: +1.10%)
- Ether CESR comprehensive staking interest rate increases by 1bps to 2.79%
- BTC Funding rate on Binance is 0.0098% (10.68% p.a.)
- DXY rose 0.10% to 98.96.
- Gold futures fell 0.43% to $4,594.90.
- Silver futures rose 0.59% to $85.59.
- The Nikkei 225 rose 3.10% to close at 53,549.16.
- The Hang Seng closed 0.90% higher at 26,848.47.
- FTSE unchanged at 10,142.02
- The Euro Stoxx 50 fell 0.03% to 6,014.79.
- The DJIA rose 0.17% to close at 49,590.20 on Monday.
- The S&P 500 rose 0.16% to close at 6,977.27.
- The Nasdaq Composite rose 0.26% to end at 23,733.90.
- The S&P/TSX Composite rose 0.80% to end at 32,874.70.
- The S&P 40 Latin America index rose 0.16% to end at 3.272,07.
- The US 10-year Treasury rate rose 0.8 bps to 4.195%.
- E-mini S&P 500 futures fell 0.17% to 7,004.75.
- E-mini Nasdaq 100 futures fell 0.28% to 25,883.50.
- E-mini Dow Jones Industrial Average index futures fell 0.15% to 49,732.00.
bitcoin statistics
- BTC Dominance: 59.32% (unchanged)
- Ether to Bitcoin ratio: 0.03402 (0.29%)
- Hashrate (7-day moving average): 1,021 EH/s
- Hash Price (Spot): $39.78
- Total fee: 2.37 BTC / $216,713
- CME futures open interest: 115,255 BTC
- BTC Gold price: 21.9 oz.
- BTC Market capitalization against gold: 6.16%
technical analysis
sol/EthereumDisplays the daily swing of in candlestick format. (Trading View)
- Solana Ether listed on Binance (sol/Ethereum) ratio has risen above the downtrend line that characterized the four-month bear market that began in September.
- The ratio also exceeded the 50-day simple moving average, one of the widely tracked price indicators to measure short-term trends.
- The point of a dual bullish breakout is sol Outperform your performance.
crypto assets
- Coinbase Global (COIN): Monday close $242.98 (+0.91%), pre-market $244.95 (+0.81%)
- Circle Internet Group (CRCL): $82.90 (unchanged), +0.64% to end at $83.43
- Galaxy Digital (GLXY): $25.49 (+2.21%), +0.67% to end at $25.66
- Bullish (BLSH): $40.00 (+4.17%), +0.12% to close at $40.05
- MARA Holdings (MARA): $10.65 (+4.21%), +0.56% to close at $10.71
- Riot Platform (RIOT): $16.45 (+7.38%), +0.49% to end at $16.53
- Core Scientific (CORZ): $17.48 (+1.98%), +0.29% to end at $17.53
- CleanSpark (CLSK): $11.96 (+3.01%), +0.84% to end at $12.06
- CoinShares Bitcoin Mining ETF (WGMI): Ended at $47.53 (+5.58%)
- Exodus Movement (EXOD): Closed at $18.25 (+11.69%)
crypto asset company
- Strategy (MSTR): $162.23 (+3.11%), +0.86% to end at $163.63
- Semler Scientific (SMLR): $22.51 (+16.21%), +4.26% to end at $23.47
- SharpLink Gaming (SBET): $10.26 (+2.40%), +0.19% to close at $10.28
- Upexi (UPXI): ended unchanged at $2.23 (+5.19%)
- Light Strategy (LITS): Closed at $1.45 (-1.36%)
ETF flow
spot BTC ETF
- Daily net flow: $116.7 million
- Cumulative net flows: $56.5 billion
- total BTC Holding amount ~1.29 million items
spot Ethereum ETF
- Daily net flow: $5.1 million
- Cumulative net flow: $12.46 billion
- total Ethereum Holding amount ~6.08 million
Source: Farside Investors
while you were sleeping
- JP Morgan predicts a Fed rate hike in 2027. Barclays, Goldman postpone request for rate cut (Reuters): JPMorgan expects the Fed to keep interest rates on hold until 2026 and then raise them in 2027, while Barclays and Goldman Sachs expect the first rate cut to occur as early as mid-2026.
- Bitcoin and Ether traders are betting on calm times (CoinDesk): Bitcoin and Ether's 30-day implied volatility has fallen to multi-month lows, and options traders are increasingly selling both calls and puts to profit from range prices.
- Japan's stock index hits new record on general election expectations (Wall Street Journal): Stock prices rose on hopes that the general election could strengthen the prime minister's grip on power and give markets confidence that he can push through a growth-oriented economic package.
- Ukraine thwarts Polymarket in wide-ranging online gambling crackdown (CoinDesk): Regulators say prediction market operates without a gambling license and ISPs are restricting access to it, along with about 200 other gambling websites. The platform is already banned in 33 other countries.
