January 16 News, the cryptocurrency market was quiet on Friday, with all major CoinDesk indices showing gains or losses of less than 1% since midnight UTC. Bitcoin maintained above $94,500, and the oscillation range since November last year was broken this week but remained stable. Zcash (ZEC) was at $411.83, APT at $1.7903, Polygon (POL) saw a slight decline, while privacy-focused payment coin Dash (DASH) continued its strong start to the year, rising over 15% since midnight and accumulating a 141% increase over the past week.
Political turmoil in Iran and Venezuela has reinforced the image of cryptocurrencies as a “safe haven,” with the market awaiting new catalysts. Mainstream cryptocurrencies like Bitcoin and Ethereum outperformed the US stock market this week, showing divergence in their trends. Exchanges have closed nearly $240 million in leveraged futures positions, with open interest decreasing from $146 billion to $143 billion, indicating a decline in demand for leveraged products. Bitcoin's 30-day implied volatility dropped to about 2.5%, and Ethereum's volatility fell to its lowest since early 2024.
ZEC futures open interest decreased by 14% within 24 hours, leading to outflows from Bitcoin, Ethereum, Solana, and XRP, while Monero (XMR) open interest grew by 8%, performing notably. The annualized funding rate for ZEC plummeted to -50%, indicating overly crowded short positions, which could leave room for short squeeze opportunities. Options market data shows a significant increase in bearish bets on Bitcoin $112,000 call options, and Ethereum's iron condor strategy preference also suggests the market is seeking gains within a range during consolidation.
In token dynamics, DASH continued to lead gains on Friday, first gaining momentum during Asian trading hours, breaking through the market hours earlier than other altcoins, boosting overall altcoin market confidence. XTZ rose 8.3% from a low of $0.57 to $0.62. The CoinDesk 80 Index (CD80) increased by 0.68% since midnight, while the CoinDesk 20 Index (CD20) was almost unchanged, indicating that altcoins remained relatively strong during mainstream coin consolidation. Traders will focus on the US market open to assess potential volatility risks during the weekend's low liquidity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Trader James Wynn opened a 40x leveraged BTC short position on HyperLiquid with a liquidation price of $71,112.48
Gate News reports that on March 21, Lookonchain monitoring showed that trader James Wynn has recently resumed activity in on-chain transactions. After claiming 1,654 USDC in referral rewards, he deposited 3,911 USDC into HyperLiquid, and subsequently opened a short position of 2.69 BTC (approximately $190,000) with 40x leverage, with a liquidation price of $71,112.48.
GateNews45m ago
Why Gasoline Prices and Borrowing Rates Are Directly Impacting Bitcoin
New data from March shows a familiar household pressure – fuel costs – rapidly spreading to financial markets before impacting Bitcoin. A preliminary survey from the University of Michigan recorded consumer confidence declining to 55.5, the lowest level since the beginning of 2026, among which
TapChiBitcoin1h ago
BTQ Launches Quantum-Resistant Bitcoin Testnet With BIP 360
BTQ Technologies has launched the first working implementation of BIP 360 on its Bitcoin Quantum testnet. The update allows developers to test quantum-resistant bitcoin transactions in a live environment.
Bitcoin Quantum Testnet Debuts BIP 360 Implementation
BTQ Technologies has introduced Bitco
Coinpedia1h ago
Here is why Bitcoin Cash traders should watch for this buy signal
Bitcoin Cash (BCH) remains above the crucial support level of 440 USD. Current market indicators show mixed signals, yet BCH's price action reflects positive momentum influenced by Bitcoin (BTC). Short-term trading opportunities arise, but long-term trends also need consideration for a robust strategy.
TapChiBitcoin2h ago
Bitcoin fell nearly 5% this week, with traditional markets like the S&P 500 experiencing synchronized pressure
Affected by the U.S.-Israel-Iran conflict, Bitcoin fell nearly 5% this week. The S&P 500, Dow Jones, Nasdaq, and gold all declined in sync, while crude oil rose 7.3%. Over the past three months, the S&P 500 and Nasdaq ETFs saw $64 billion in outflows, reaching historic highs. Bitcoin's net realized profits once accelerated but subsequently fell below $70,000.
GateNews2h ago
