After an optimistic start to the year, the market has experienced a notable correction in recent days:
Bitcoin $BTC BTC: After attempting to consolidate above $95,000, the price has retreated, currently trading below $90,000. This adjustment is attributed to a net outflow of funds in ETFs (approx. $729 million) and the liquidation of long positions.
Ethereum $ETH ETH: It remains the second force, although with a weekly decline close to 2.6%, positioned in the range of $3,100 - $3,300.
External Factors: Geopolitical uncertainty (trade tensions and the unusual focus on Greenland) and the strength of the dollar (DXY above 100 points) have dampened appetite for risk assets.
⚖️ Regulatory Milestone: The "2026 Bill" in the U.S.
The most important regulatory news is the publication of a 278-page amendment to the bill on the structure of the crypto market in the U.S. Senate:
End of "passive" yields: The bill prohibits offering interest simply for holding stablecoins. Platforms now must create incentives based on actual activity (staking or providing liquidity).
Institutional DeFi: The framework for a "regulated DeFi" is being established with KYC processes, seeking to attract trillions of dollars in institutional capital that previously feared non-compliance.
Developer Responsibility: It is clarified that "code is not a financial institution," a relief for creators of pure software protocols.
🌍 Adoption and Geopolitics
Strategic Reserve in Florida: A legislative proposal has been introduced to create a Strategic Bitcoin Reserve in Florida, allowing up to 10% of certain public funds to be invested in $BTC BTC and tokenized assets.
Judicial Victory in Russia: The Supreme Court of Russia has recognized property rights over cryptocurrencies (specifically in a case involving loans with USDT), urging lawmakers to formalize their legal status as private property.
OECD CARF Framework: As of January 1, the Crypto Asset Reporting Framework came into effect, meaning that national tax authorities (including Spain's) now have automatic tools to track global movements.
🚀 Emerging Trends
Maturity over Hype: Analysts agree that 2026 marks the end of the traditional "4-year cycle." The market is now driven more by macroeconomic data than by native events like halving.
ETF 2.0: Giants like Morgan Stanley have begun applying for ETFs that combine Bitcoin and Solana, diversifying the institutional offering beyond the two big players.
Crypto Social Networks: The recent acquisition of Farcaster by Neynar has sparked debate on whether decentralized social networks can survive without a purely financial model.
Note to the investor: Liquidity remains present, but conviction is scarce as the Fed keeps interest rates unchanged in its January meeting, postponing the liquidity relief many expected.
