Research

Market Pulse: January 2026

Written by Leonardo Larieira, Digital Asset Researcher | Jan 6, 2026 6:32:50 AM

Executive Summary

December 2025 was characterized by Bitcoin’s struggle to sustain a foothold above the critical $90,000 psychological threshold, a level that ultimately proved difficult to hold as the asset retreated in recent sessions.

The market’s inability to generate necessary momentum stemmed largely from a marked deceleration in institutional participation. This was starkly evidenced by persistent outflows from major spot Bitcoin ETFs, signaling a distinct shift towards profit-taking and reduced demand following rallies earlier in the year. Furthermore, the investment landscape was challenged by suppressed overall market liquidity, a lingering hangover from the October 11th flash crash.

Compounding this inertia, even the Federal Reserve’s significant policy shift to cut interest rates to a target range between 3.5%-3.75% proved insufficient to act as a bullish driver. Buyers exhibited considerable reluctance to chase prices amid uncertain near-term catalysts and defensive year-end positioning.

 

Key Takeaways:

  • Markets are now pricing in a continuation of Fed rate cuts into 2026, setting the stage for a liquidity-driven year-end close.

  • Gold prices shattered expectations, hitting a new record above $4,500, reinforcing the global debasement narrative that continues to bolster the Bitcoin investment thesis.

  • Global Stablecoin Market Cap breached a historic $308B, signaling a massive accumulation of on-chain dry powder ready to be deployed into digital assets.

  • Ethereum Spot ETFs recorded their second-worst month on record with over $564M in net outflows, pushing the price constantly below the critical $3,000 support level and signaling temporary institutional fatigue.