Daily Briefing: Green candles after President Trump’s Greenland about-face

Team Luno

January 22, 2026 · 21 minute read

It’s been a strange week for markets. The renewed threat of a tariff war with the EU, reminiscent of last year’s announcement of sweeping US tariffs on China, rippled through stock and crypto markets at the start of the week. President Trump has since changed his tune, though, announcing yesterday that a deal is taking shape. “It was welcome that we’ve reached an agreement, or it would appear that we’ve reached an agreement,” former UK Prime Minister Rishi Sunak told Bloomberg from Davos.

Wall Street has clawed back much of yesterday’s losses, with the S&P 500 and the Nasdaq 100 both up more than 1%. It’s mostly green candles this morning across crypto markets, with Bitcoin up 0.8% and Ethereum up 1.3% over 24 hours. Binance Coin, XRP, and Cardano have each gained more than 2% since yesterday.

Looking at macro events, the latest Personal Consumption Expenditures (PCE) price index print, covering October and November 2025 data, is scheduled for release today. PCE is the Federal Reserve’s preferred inflation gauge, with recent data showing headline PCE at 2.8% year on year for September 2025, up from 2.7% in August. Today’s print could influence expectations for Fed policy in 2026.

🌍 Total crypto market cap ↗️

Approx. $3.17 trillion, up 1% overnight.

🟠 Bitcoin (BTC) ↗️

~$89,819 up 0.8% in 24 hours.

🟣 Ethereum (ETH) ↗️

~$3,002, up 1.3% in 24 hours.

📈 S&P 500 ↗️

Up 1.16%

📈 Nasdaq 100 ↗️

Up 1.36%

🟠 Fear & Greed Index

34/100 in Fear

Data is correct as at 22 January 09:03 GMT.

Newsmaker

Tariffs off the table, says President Trump

Crypto and stock markets are up this morning after President Donald Trump yesterday said the US will not be following through with sweeping tariffs on its trade partners in the European Union.
“The U.S. president said he has reached a framework for a deal with NATO over Greenland but did not offer any details in a post to his Truth Social platform about what that would entail. As a result, though, he said he would not impose tariffs,” CNBC reports.
“Traders have been quick to react to some punchy reversals in markets, cutting back on recently entered bearish risk positioning and long volatility hedges, part covering USD shorts, and running a more balanced exposure in gold and silver,” Chris Weston, head of research at Pepperstone, wrote in a client note.

*Investing in cryptocurrency may result in the loss of capital. This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

21 January

It seems the dip in crypto markets following renewed trade tariff threats from the US, this time aimed at the EU, may have been the canary in the coalmine. Stock markets were quiet over the weekend and on Monday due to a public holiday in the US, but showed meaningful declines as Wall Street posted its worst day since October last year, when the US announced 100% tariffs on imports from China. More on this development below.

Crypto markets have continued to feel the brunt, with Bitcoin dipping below $90K and Ethereum falling 5% to below $3K. The Fear and Greed Index reflects this uncertainty, slipping back into fear after hovering in neutral for the past few weeks. Similarly, the Cboe VIX index, a widely used fear gauge for US stock markets, has spiked to an eight-week high this week. Investors will be watching closely for comments and discussions coming out of the World Economic Forum in Davos this week, under the theme “A Spirit of Dialogue,” where world leaders, key policymakers, and entrepreneurs are gathered until 23 January to discuss geopolitics, energy, climate, and economic developments.

Looking at key economic events this week, the Personal Consumption Expenditures (PCE) Price Index, one of the Fed’s preferred inflation measures, is set for release this Thursday and tracks consumer spending trends. Softer-than-expected data could fuel rate-cut hopes, while a hotter print might spark more hawkish fears.

🌍 Total crypto market cap ↘️

Approx. $3.096 trillion, down 2.03% overnight.

🟠 Bitcoin (BTC) ↘️

~$89,117 down 2.17% in 24 hours.

🟣 Ethereum (ETH) ↘️

~$2,967, down 5% in 24 hours.

📈 S&P 500 ↘️

Down 2%

📈 Nasdaq 100 ↘️

Down 2.1%

🟠 Fear & Greed Index

32/100 in Neutral

Data is correct as at 21 January 07:46 GMT.

Newsmaker

Wall Street has its worst day since October

The tech-heavy Nasdaq index is down 2.4% overnight, with Amazon down 2.9%, and Tesla and Nvidia both in the red by more than 3%.
Speaking to The Guardian, Kathleen Brooks, a research director at the broker XTB, said, “Overall, this is a man-made crisis, and the continued sell-off on Tuesday suggests that US threats to Greenland and their effects on financial markets could have further to go if the situation does not de-escalate soon,” she said.
Gold and silver hit record highs as the precious metal rose past $4,700 (£3,500) an ounce for the first time on Tuesday, and silver hit a fresh high of $95.52 an ounce, the news publication reports.
Wall Street’s most-watched gauge of investor anxiety, ‌the Cboe Volatility Index, jumped to an eight-week high of 20.69, Reuters reports. “We’ve certainly seen a meaningful reaction in the risk metrics, since Friday … it’s a very significant ‍shift,” Jim Carroll, senior wealth adviser and portfolio manager at Ballast Rock Private Wealth, commented to the newswire.

20 January

There are a few headwinds for crypto and stock markets this week. The biggest one ruffling global markets is the latest tension between the US and countries in the European Union (EU) after President Trump threatened the bloc with sweeping tariffs.

Closer to crypto, The CLARITY Act, a key piece of crypto legislation aimed at creating a regulatory framework for the US crypto industry, has also faced hurdles following disagreements between political parties, as well as opposition from key players in the crypto industry over several provisions in the bill. The bill is set to be marked up later this month.

Bitcoin has dipped 2% overnight, with Ethereum down more than 3% and sharper declines across other parts of the crypto market. US stock markets were closed for a federal holiday yesterday, meaning the impact of the macro headwinds could only become clear when markets reopen later today.

In a crossover between crypto and pop culture, BitMine, the largest Ethereum treasury company, has invested $200 million into Beast Industries, founded by Jimmy Donaldson, better known as MrBeast on YouTube, the platform’s largest individual channel, with more than 450 million subscribers. Read more below.

As we head into the latter part of January, the Fed’s first interest rate meeting of the year will come increasingly into focus. The majority of the futures market is betting on the Fed keeping rates unchanged, according to the CME FedWatch tool.

🌍 Total crypto market cap ↘️

Approx. $3.168 trillion, down 2.2% overnight.

🟠 Bitcoin (BTC) ↘️

~$91,063 down 2.24% in 24 hours.

🟣 Ethereum (ETH) ↘️

~$3,110, down 3.2% in 24 hours.

📈 S&P 500

📈 Nasdaq 100

🟠 Fear & Greed Index

42/100 in Neutral

Data is correct as at 20 January 08:29 GMT.

Newsmaker

What does Ethereum and Mr Beast have in common?

BitMine Immersion Technologies, the largest ETH treasury company, is investing $200 million in Beast Industries, the company founded by Jimmy Donaldson, known as YouTuber MrBeast.
“I think it’s part of the sort of evolution of digital platforms and money, and I think it’s really uniting the No. 1 creator in the world with the biggest ethereum platform in the world,” BitMine chairman Tom Lee told CNBC.
The MrBeast YouTube channel has around 460 million subscribers, making it the most popular individual channel on the platform. The deal gives BitMine a stake in a brand with global reach across younger audiences.
Jeff Housenbold, CEO of Beast Industries, said the BitMine investment validates the company’s strategy as it pursues becoming “the most impactful entertainment brand in the world,” reports DL News.

19 January

President Trump threatened the European Union with sweeping tariffs starting at 10% for not supporting US claims to Greenland, reigniting trade war fears. Trump said he would impose an additional 10% import tariff starting in February on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, which would rise to 25% if a deal is not reached, Reuters reports. “Hopes that the tariff situation has calmed down for this year have been dashed for now — and we find ourselves in the same situation as last spring,” Berenberg chief economist Holger Schmieding commented to the publication.

Crypto markets saw notable pullbacks this morning, with Bitcoin dropping from above $95K to around $92.6K, where it appears to have found a temporary floor. Ethereum’s price fell by more than 3%, with some sharper reactions in other markets. The US stock market is yet to show a reaction, but it will be interesting to see how investors respond once markets open tomorrow, after today’s federal holiday.

On the regulatory front, the CLARITY Act remains top of mind, with the bill set to be marked up sometime towards the end of the month, around the same time as the Fed’s first meeting of the year.

🌍 Total crypto market cap ↘️

Approx. $3.21 trillion, down 2.8% overnight.

🟠 Bitcoin (BTC) ↘️

~$93,290 down 1.99% in 24 hours.

🟣 Ethereum (ETH) ↘️

~$3,214, down 3% in 24 hours.

📈 S&P 500 ↘️

Down 0.06%.

📈 Nasdaq 100 ↘️

Down 0.07%.

🟠 Fear & Greed Index

45/100 in Neutral

Data is correct as at 19 January 09:33 GMT.

Newsmaker

Trump threatens EU with tariffs over Greenland

“Global markets are facing volatility after President Donald Trump vowed to slap tariffs on eight European nations until the U.S. is allowed to buy Greenland, injecting fresh trade uncertainty as stocks slid and the dollar broadly weakened,” Reuters reports.
US markets are closed today for Martin Luther King Jr. Day, which means a delayed reaction on Wall Street.
“While you would argue that the tariffs threaten Europe, in fact, it’s actually the dollar that is bearing the brunt of it, because I think markets are pricing in increased political risk premia on ⁠the U.S. dollar,” Khoon Goh, head of Asia research at ANZ, told Reuters.

16 January

Markets have taken a breather after a promising rally this week that saw the highest daily Bitcoin ETF inflows since October last year, with the market leader pushing toward $98K before fizzling and settling around the high $95Ks to end the week up 5%. Not to be outdone, Ethereum has rallied more than 6% over seven days. CoinDesk has an interesting story out reporting that the Ethereum network has seen a spike in user engagement over the past month, with most of it coming from new users.

The big news of the week has been a key piece of crypto regulation in the US, known as the CLARITY Act, which aims to create a framework for crypto in the US and designate which regulator, the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), oversees the asset class. The bill was set to be marked up this week, allowing policymakers from both Democrats and Republicans to provide input, but it has been postponed to later in January after key roleplayers from the crypto industry voiced strong opposition to many of the contents.

This places debate over the bill around the same time as the Federal Reserve’s interest rate meeting at the end of the month, with both circled in big red on the calendar for their importance. The CME FedWatch Tool shows that the majority of the futures market expects the Fed to keep interest rates unchanged for now. However, there’s an increasingly political twist to the decision, with Fed Chair Jerome Powell under criminal investigation for allegedly misstating figures related to upgrades to the Fed building. Powell says the probe is nothing more than pressure from the White House for not giving in to calls to cut interest rates.

With momentum building in crypto markets, a key Fed decision looming, and major crypto legislation back on the agenda, the latter half of January is shaping up to be an eventful one.

🌍 Total crypto market cap ↘️

Approx. $3.22 trillion, down 0.9% overnight.

🟠 Bitcoin (BTC) ↘️

~$95,503 down 1.1% in 24 hours.

🟣 Ethereum (ETH) ↘️

~$3,304, down 0.7% in 24 hours.

📈 S&P 500 ↗️

Up 0.26%.

📈 Nasdaq 100 ↗️

Up 0.32%.

🟠 Fear & Greed Index

50/100 in Neutral

Data is correct as at 15 January 07:50 GMT.

Newsmaker

Ethereum use on the rise

Ethereum activity has picked up over the past month, driven by new users interacting with the network for the first time.
“Data on Ethereum’s month-over-month activity retention shows a pronounced spike in the ‘new’ cohort — a metric that tracks wallets making their first recorded interaction on the blockchain within a given period,” CoinDesk reports.
The difference between new and existing user engagement is important. Spikes in on-chain activity can often be driven by existing users moving funds around more frequently, particularly during volatile periods. Growth driven by new wallets, though, points to wider interest in Ethereum itself, whether through decentralised finance, stablecoin usage, NFTs, or newer applications built on the network.

*Investing in cryptocurrency may result in the loss of capital.This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

14 January

Crypto markets have come alive this morning, with the price of Bitcoin up more than 3% and Ethereum seeing a surge of 6%. The rally has lifted investor sentiment, with the Fear and Greed Index jumping 10 points overnight — still in neutral territory, but moving ever closer to Greed, last seen in October last year.

Crypto prices moved north while stocks broadly moved south overnight after a cooler December inflation print from the US yesterday, which could reinforce the Fed’s hands-off stance for now, say analysts. More on this in the news section. “This CPI report does not signal an inflation reacceleration, but it also does not provide the Federal Reserve with a strong justification for rapid easing,” Sung Won Sohn, chief economist at SS Economics and finance and economics professor at Loyola Marymount University, wrote in a note yesterday. “The most likely path is a gradual shift toward rate cuts over time, but with policymakers maintaining caution until shelter inflation and services inflation show clearer improvement,” Sohn added, according to CNN.

One analyst noted the current tension between the Fed and the White House, along with the recent CPI print, as tailwinds for Bitcoin and others. “Medium term, I think we could see investors allocate more to Bitcoin on a gold catch-up narrative — and other risk-on assets are having a great time,” Justin d’Anethan, head of research at Arctic Digital, told Bloomberg. The Fed episode highlights “the value of safe-haven and hard assets” over the US dollar, d’Anethan said.

Is this the breakout investors have been looking for, or another fade-out rally?

🌍 Total crypto market cap ↗️

Approx. $3.337 trillion, up 3.6% overnight.

🟠 Bitcoin (BTC) ↗️

~$95,191 up 3.52% in 24 hours.

🟣 Ethereum (ETH) ↗️

~$3,336, up 6.7% in 24 hours.

📈 S&P 500 ↘️

Down 0.19%.

📈 Nasdaq 100 ↘️

Down 0.18%.

🟠 Fear & Greed Index

52/100 in Neutral

Data is correct as at 14 January 08:25 GMT.

Newsmaker

Crypto markets come alive after December inflation print

The latest Consumer Price Index (CPI) numbers from the US released yesterday showed some lingering inflation pressures from December. Some economists say it could stem from sweeping import tariffs.
What does this mean for monetary policy throughout the year? Commenting to Reuters, Stephen Stanley, chief economist at Santander US Capital Markets, says, “It is worth noting that the core CPI has jumped by 0.4% and more in each ‍of the past four Januarys,” adding, “I would imagine that Fed officials are well aware of this history and are reserving judgment on inflation until they have a few more months of inflation data in hand.”
The Fed is broadly expected to keep interest rates unchanged at its meeting at the end of January, with 97% of the futures market betting on the Fed maintaining the current target range of 3.5%–3.75%.

13 January

Federal prosecutors have opened a criminal investigation into Fed Chair Jerome Powell, probing whether Powell lied to Congress about the size of the renovation of the Fed’s headquarters. “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said in response. “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure or intimidation.”

It marks an escalation in the situation between President Trump and Chair Powell, who has resisted calls from Trump to aggressively cut interest rates. Crypto and stock markets have been fairly muted following the news.

As CNN reports: “Stock market investors, for now, are shrugging off the Justice Department’s investigation into Powell. Investors might think efforts to undermine the Fed’s independence will fail, according to Paul Ashworth, chief North America economist at Capital Economics.”

Bitcoin is trading above $92K this morning, with the total crypto market cap unchanged over the past 24 hours. The broader US stock market has also remained sideways.

In regulatory news, the scheduled markup of the CLARITY Act, which was set to take place this Thursday, has been postponed to the last week of January. The move is aimed at preserving support from both Democrats and Republicans. Many crypto market watchers believe the outcome could meaningfully sway markets one way or the other.

🌍 Total crypto market cap ↗️

Approx. $3.217 trillion, up 0% overnight.

🟠 Bitcoin (BTC) ↗️

~$92,021 up 0.29% in 24 hours.

🟣 Ethereum (ETH) ↘️

~$3,130, down 0.63% in 24 hours.

📈 S&P 500 ↗️

Up 0.16%.

📈 Nasdaq 100 ↗️

Up 0.08%.

🟠 Fear & Greed Index

41/100 in Neutral

Data is correct as at 13 January 06:43 GMT.

Newsmaker

Markup of CLARITY Act postponed to late Jan

There’s an important crypto bill doing the round through the US congressional system at the moment. The US CLARITY Act was scheduled to be debated on Thursday but has been postponed to the last week of January. Senate Agriculture Committee Chairman John Boozman said the delay aims to preserve bipartisan support. It signals that a piece of legislation isn’t being pushed by just one side of the political aisle, but has enough cross-party agreement to advance through Congress.
The move signals that Senate leaders do not yet have the votes needed to advance the bill. Without enough backing across party lines, leadership risks seeing the legislation stall or collapse during committee votes.
The CLARITY Act would formally define which digital assets are treated as commodities versus securities, and set out the regulatory authority of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) over different segments of the crypto market, addressing a long-standing source of legal ambiguity that has hampered the industry.
The bill could have significant impacts on crypto trading and investment if it becomes law. Supporters argue that clear regulatory boundaries and enhanced surveillance mechanisms to curb practices like wash trading and spoofing would boost investor confidence and attract institutional capital. As Bitwise CIO Matt Hougan says in a post on X, “If it sticks its head out but fails in Congress, the winter could continue. If instead it passes and is signed into law, we’re heading to new all-time highs.”

12 January

It’s a good day to start the week. There’s some price action in crypto and stock markets this morning, with Bitcoin up 1.2% and Ethereum seeing gains of around 2% overnight, after some sideways action last week following a promising rally that faded.

Sentiment remains Neutral, which is not all bad, considering the historic levels of Fear in markets late last year.

Looking at the macro, US jobs numbers came in cooler than expected on Friday. The Bureau of Labor Statistics’ December report showed that employment rose 4.4% against an expected 4.5%. The bigger picture, though, is that 2025 was the worst year for hiring since 2020, when the pandemic stalled employment, but there are a few things to consider that may have skewed the numbers somewhat. More on this in the news breakdown below.

In crypto regulation, the Crypto Market Structure Bill is set to be formally reviewed and debated by a congressional committee on 15 January before it can move forward. It’s a major piece of legislation designed to create a clear federal regulatory framework for cryptocurrency markets. The aim is to define who regulates what, and how crypto trading, custody, and markets should work under US law. The bill stalled last year as the US government went into shutdown. There are a few ways this could play out, and it could be some time before a conclusion is reached by the parties involved. Regardless, traders will be keeping a close eye on this one.

🌍 Total crypto market cap ↗️

Approx. $3.21 trillion, up 1.2% overnight.

🟠 Bitcoin (BTC) ↗️

~$91,711, up 1.26% in 24 hours.

🟣 Ethereum (ETH) ↗️

~$3,152, up 2% in 24 hours.

📈 S&P 500 ↗️

Up 0.65%.

📈 Nasdaq 100 ↗️

Up 1%.

🟠 Fear & Greed Index

41/100 in Neutral

Data is correct as at 12 January 07:24 GMT.

Newsmaker

US jobs market slows, according to latest jobs report

Friday’s December report by the Bureau of Labor Statistics showed that the US employment market slowed in December and throughout the year, making 2025 the worst year for hiring since 2020, according to NBC News. The unemployment rate fell to 4.4%, compared with the forecast for 4.5%.
There are a few things to consider, though. The Department of Government Efficiency (DOGE), under Elon Musk’s supervision, laid off tens of thousands of government employees around October last year, and the numbers in the report have also been adjusted downward by the labour department.
“This isn’t a December to remember type of jobs report,” Eric Merlis, co-head of global markets at Citizens, commented to NBC. “The unemployment rate and broader labor force measures showed little movement in December,” he said.
“The jobs report is a mixed bag, with both positive and negative aspects,” Art Hogan, chief market strategist at B. Riley Wealth, told CNBC. “We continue to see an environment where companies are slow to hire and slow to fire. The overarching takeaway in today’s report is that there is more good news than bad in the first on-time jobs report in three months.”
Also commenting to CNBC, Heather Long, chief economist at Navy Federal Credit Union, said: “It’s fair to say that 2025 was a hiring recession in the United States,” Long wrote. “The United States is experiencing a jobless boom where growth is strong, but hiring is not. It’s a great scenario for Wall Street, but an uneasy feeling on Main Street.”

09 January

Happy Friday! Crypto and Wall Street are idling this morning, remaining virtually unchanged since yesterday. Bitcoin is hovering around $90K, with a few notable price spikes here and there. Solana added more than 3% to its price overnight, while Ethereum dipped negligibly by less than a percent.

Even so, earlier this week Ethereum co-founder Vitalik Buterin claimed that the age-old blockchain trilemma has been solved with the latest upgrades to the network. “With Ethereum with PeerDAS (2025) and ZK-EVMs (expect small portions of the network using it in 2026), we get: decentralization, consensus, and high bandwidth,” he wrote in a post on X. More on this in the post below.

Looking to the US stock market, there’s equally lacklustre movement this morning, with investors possibly sitting on the sidelines until the latest US jobs numbers are released later today. It’s the first clear picture of the labour market since the resolution of the government shutdown, and could give policymakers and investors a better idea of how monetary policy unfolds this year.

🌍 Total crypto market cap ↗️

Approx. $3.19 trillion, up 0.4% overnight.

🟠 Bitcoin (BTC) ↗️

~$90,986, up 0.85% in 24 hours.

🟣 Ethereum (ETH) ↘️

~$3,1113, down 0.1% in 24 hours.

📈 S&P 500 ↗️

Up 0.007%.

📈 Nasdaq 100 ↘️

Down 0.57%.

🟠 Fear & Greed Index

41/100 in Neutral

Data is correct as at 9 January 07:30 GMT.

Newsmaker

Has Ethereum solved the blockchain trilemma?

A long-standing hurdle for blockchain networks has been balancing security with decentralisation and scalability. If you lean into one, it’s generally at the expense of the others.
Vitalik Buterin, co-founder of Ethereum, says that recent upgrades to Ethereum have solved this problem. “The trilemma has been solved – not on paper, but with live running code, of which one half (data availability sampling) is on mainnet today, and the other half (ZK-EVMs) is production-quality on performance today – safety is what remains,” noted Buterin.
“Now that ZKEVMs are at alpha stage (production-quality performance, remaining work is safety) and PeerDAS is live on mainnet, it’s time to talk more about what this combination means for Ethereum,” he wrote on X. “These are not minor improvements; they are shifting Ethereum into being a fundamentally new and more powerful kind of decentralized network.”

08 January

Happy Thursday. There’s some profit-taking after the rally earlier this week, with the price of Bitcoin down roughly 2% overnight but still in the green by 3% over seven days. Ethereum is seeing a deeper drawdown. Despite a few red candles this morning, Dogecoin and XRP are still up 21% and 14% over seven days, respectively.

With Bitcoin having now moved a leg up from $87K to between $90K and $92K, investors are wondering where it goes next from here. Bitwise CIO Matt Hougan argues that Bitcoin needs to check three boxes to move higher. The first is clearing any doubts about another blowup similar to what happened in October, which crypto markets are still recovering from. Investors have put this in the rearview, he says. Secondly, there’s a key piece of legislation tabled in the US called the CLARITY Bill, which is scheduled for review around the middle of January. Policymakers say it could happen as early as May and almost certainly by the end of the year. The third key factor is that the equity market doesn’t fall apart due to an AI bubble or some other event. With Bitcoin investors rejecting a dip below $90K yesterday, where will it go next?

On the institutional front, investment banks continue their foray into crypto. JP Morgan has launched its JP Morgan coin, a more centralised version of a stablecoin, on the Canton network after launching on Base.

Broadly, the Fear and Greed Index continues to reflect neutral sentiment among investors, after spending much of the latter part of the year in Fear and dipping into historic fear levels.

🌍 Total crypto market cap ↘️

Approx. $3.18 trillion, down 2.7% overnight.

🟠 Bitcoin (BTC) ↘️

~$90,551, down 2.3% in 24 hours.

🟣 Ethereum (ETH) ↗️

~$3,123, down 4.06% in 24 hours.

📈 S&P 500 ↗️

Down 0.34%.

📈 Nasdaq 100 ↗️

Up 0.05%.

🟠 Fear & Greed Index

43/100 in Neutral

Data is correct as at 8 January 08:47 GMT.

Newsmaker

Investors await tomorrow’s jobs data from US

The US Bureau of Labor Statistics will release the latest employment data tomorrow.
Expectations are for a modest pickup in US non-farm payrolls for December, with estimates ranging between 55,000 and 75,000 jobs added, suggesting the labour market is cooling but still holding up.
The US non-farm payrolls numbers are a key indicator of the health of the labour market, which is tied to inflation. If payrolls come in stronger than expected, it could signal that the economy is still heating up, which may increase the chances the Fed holds rates higher for longer to keep inflation in check. On the other hand, if payrolls are weaker than expected, it suggests the labour market is cooling, giving the Fed more room to cut interest rates or slow future hikes without risking runaway inflation.
The Fed was divided in its last meeting on whether to pause or cut rates throughout the rest of the year, which gives these numbers extra relevance. It will also be the first clear picture of the state of the labour market since the US government shutdown was resolved.

07 January

Morgan Stanley has entered the conversation. After sitting on the sidelines while many of its peers launched crypto exchange-traded funds (ETFs), the asset manager has filed for Bitcoin and Solana ETFs. “It’s interesting to see Morgan Stanley move into a commoditised market, and I suspect that means they want to move clients who invest in bitcoin into their ETFs, which could give them a fast start despite their late entrance,” Reuters quoted Bryan Armour, an ETF analyst at Morningstar. “A bank entering the crypto ETF market adds legitimacy to it, and others could follow.”

Jeff Park, analyst and CIO at ProCap, commented in an X post: “It means the market is MUCH bigger than even crypto professionals anticipated, especially to reach NEW customers. It is unheard of for a vanilla ETF product to launch TWO YEARS after the first to market has already secured the liquidity throne…,” adding, “bullish Morgan Stanley and Bitwise as a proud alum of both.” Read more below.

Bitcoin and Solana prices saw an initial jolt following the news but have since eased off this morning, with US markets still after hours.

Bitcoin is trading between $92,500 and $93,000 at the time of writing, while the total crypto market cap remains virtually unchanged. Ethereum has added a small blip of green overnight.

The big news in the stock market is Jensen Huang, President and CEO of Nvidia, announcing the company’s foray into self-driving cars.

In macro news, geopolitical tensions between the US and others continue to dominate the narrative, but stocks and crypto markets appear to have taken the uncertainty in their stride.

🌍 Total crypto market cap ↘️

Approx. $3.27 trillion, down 0.1% overnight.

🟠 Bitcoin (BTC) ↘️

~$92,750, down 0.55% in 24 hours.

🟣 Ethereum (ETH) ↗️

~$3,253, up 0.98% in 24 hours.

📈 S&P 500 ↗️

Up 0.62%.

📈 Nasdaq 100 ↗️

Up 0.94%.

🟠 Fear & Greed Index

49/100 in Neutral

Data is correct as at 7 January 08:07 GMT.

Newsmaker

Morgan Stanley has entered the conversation

The bank announced it has filed for Solana and Bitcoin ETFs, after patiently sitting on the sidelines since the launch of the first US crypto ETF in January 2024.
Morgan Stanley hasn’t disclosed much other than details around the initial filing, but analysts say it’s a sign of market demand for this type of investment product.
In a post on X, analyst Jeff Park notes: “This signals that despite IBIT being the fastest ETF in history to reach $80Bn in AUM (roughly 1/5th the time it took for second place VOO), there is enough untapped interest as viably researched and ascertained through MS’ proprietary wealth channels that they are willing to bet that a branded product has commercial viability. It means we are still so early.”

*Investing in cryptocurrency may result in the loss of capital.This information should not be construed as a solicitation to trade. All opinions, news, research, analysis, prices or other information is provided as general market commentary for information purposes only and is not investment advice or recommendation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

06 January

Welcome to the first daily crypto briefing of 2026. Crypto markets have broadly had a good start to 2026, with many showing price jumps of more than 10% over seven days. XRP is among the leaders, adding ~27% to its price over this timeframe. Bitcoin peeked above $94K yesterday for the first time since November, when it tagged that price on the way down from $104K during a historic sell-off. This time, it’s on the way up from the low $80Ks as investors reassess positions and factor in global events.

The main one of these is US military action in Venezuela. The Block reports that Jeff Ko, chief analyst at CoinEx Research, said that with traditional markets closed over the weekend, crypto markets became the primary liquid venue for absorbing the news, with the rally indicating that investors broadly interpreted the developments as generally bullish for risk assets. BlackRock said in a note that the current
developments between the US and the South American nation are unlikely to have major implications for global markets. “We expect limited near-term impact and a slightly negative longer-term impact on oil prices, so oil isn’t a transmission channel to global markets,” it added, noting that “we find that markets do not sustainably reposition for binary geopolitical risks even when risks rise.” The company’s position remains risk-on despite the geopolitical tension.

The US Federal Reserve again lowered interest rates by another 0.25% at its meeting last week, but policymakers were divided on whether to cut or remain neutral in 2026. “With respect to the extent and timing of additional adjustments to the target range for the federal funds rate, some participants suggested that, under their economic outlooks, it would likely be appropriate to keep the target range unchanged for some time after a lowering of the range at this meeting,” the minutes said. The 19 officials at the December meeting indicated the likelihood of another cut in 2026, followed by one more in 2027, CNBC reported.

The Fear and Greed Index is showing neutral sentiment among crypto investors, a positive change after spending most of November and December last year in Fear.

🌍 Total crypto market cap ↗️

Approx. $3.21 trillion, up 2.3% overnight.

🟠 Bitcoin (BTC) ↗️

~$93,846, up 1.68% in 24 hours.

🟣 Ethereum (ETH) ↗️

~$3,234, up 2.68% in 24 hours.

📈 S&P 500 ↗️

Up 0.64%.

📈 Nasdaq 100 ↗️

Up 0.77%.

🟠 Fear & Greed Index

49/100 in Neutral

Data is correct as at 6 January 06:53 GMT.

Newsmaker

XRP marks strongest price jump since November

The price of XRP jumped by more than 10% yesterday, its strongest performance since November. In what’s been a solid week for crypto markets, XRP has surged by more than 25% over seven days.
“We recently saw a breakout from a falling wedge pattern, with the price sustaining above its 50 day moving average, classic markers for positive momentum,” Rachael Lucas, crypto analyst at BTC Markets said, according to The Block. “At the same time, short positions in XRP were aggressively liquidated, over $250 million in an hour, clear evidence that aggressive buying and short covering are fuelling rapid upside.”

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Daily Briefing: Green candles after President Trump’s Greenland about-face

🌍 Total crypto market cap ↗️

🟠 Bitcoin (BTC) ↗️

🟣 Ethereum (ETH) ↗️

📈 S&P 500 ↗️

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🟠 Fear & Greed Index

Newsmaker

Tariffs off the table, says President Trump

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Newsmaker

Wall Street has its worst day since October

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🟠 Bitcoin (BTC) ↘️

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📈 S&P 500

📈 Nasdaq 100

🟠 Fear & Greed Index

Newsmaker

What does Ethereum and Mr Beast have in common?

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🟠 Bitcoin (BTC) ↘️

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Newsmaker

Trump threatens EU with tariffs over Greenland

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🟠 Bitcoin (BTC) ↘️

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Newsmaker

Ethereum use on the rise

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Newsmaker

Crypto markets come alive after December inflation print

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🟠 Bitcoin (BTC) ↗️

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Newsmaker

Markup of CLARITY Act postponed to late Jan

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Newsmaker

US jobs market slows, according to latest jobs report

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🟠 Bitcoin (BTC) ↗️

🟣 Ethereum (ETH) ↘️

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Newsmaker

Has Ethereum solved the blockchain trilemma?

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🟠 Bitcoin (BTC) ↘️