Crypto Rollercoaster: BTC Holds $88K While ETH Plunges 7% & SOL Drops 5% - Market Divergence in Full Swing
Crypto markets aren't moving in lockstep anymore. Bitcoin stands firm near recent highs while major altcoins show significant weakness—a classic sign of capital rotation or risk-off sentiment creeping in.
The Bitcoin Fortress Holds
BTC's resilience at the $88K level is the story. It's acting as a bedrock, absorbing selling pressure that's hammering the rest of the market. Traders are watching this key psychological and technical level; a sustained hold here could signal underlying strength, while a break might trigger a broader correction.
Ethereum Takes a Hit
A 7% single-day drop for ETH isn't trivial. That kind of move shakes out leverage and tests the conviction of long-term holders. Questions swirl about network activity, competitor pressure, or simply profit-taking after its recent run. The 'ultrasound money' narrative gets a stress test when prices fall this sharply.
Solana's Momentum Stalls
Solana's 5% dip highlights how quickly sentiment can shift for high-beta assets. It's the poster child for 'risk-on' crypto plays, so its pullback often leads the altcoin pack. Is this a healthy breather or the start of a deeper trend reversal? The ecosystem's builders are likely too busy shipping code to check the charts—every cloud.
The Bigger Picture
This divergence is healthy, if unnerving. It separates the momentum chasers from the fundamental believers. Remember, in traditional finance, they'd call this 'sector rotation' and charge you a 2% management fee for the insight. In crypto, you get the volatility for free. The next moves for these key assets will set the tone: either a broad-based recovery led by BTC's strength, or a cascading altcoin sell-off if support cracks. Buckle up.
Major Crypto Market Events Today
Source: Forex Factory
Crypto Market Last 24 Hours Update: Prices, Volume & Trends
The global cryptocurrency market today reached a capitalization of $3.09 trillion, noted a shocking 4.1% downturn in the last 24 hours, whereas Total trading volume recorded at $158.4 billion.
Bitcoin’s (BTC) dominance over the industry remains intense with 57.5%, while Ethereum (ETH) carries 11.6%. The largest gainers of the industry are Polkadot and XRP Ledger Ecosystem in the past day.
(Note: BTC and ETH are often viewed as less volatile historically, but still risky. The data recorded from CoinMarketCap)
Bitcoin (BTC) price today reached $88844.02, down 4.21% in the last 24 hours, with a trading volume of $55.71 billion and a market cap of $1.77 trillion.
Ethereum (ETH) is priced today at $2962.05, declined 7.12% in 24 hours with a trading volume of $33.7 billion and a market cap of $357.5 billion.
(Trending data is based on a combination of 24-hour price movement, trading volume, and CoinMarketCap.com trending metrics.)
RollX price (ROLL): $0.1381, down 10.13%, trading volume (TV): $2.07B.
Bitcoin price (BTC): $88,895.90, fell 4.18%, TV: $55.64B.
Ethereum price (ETH): $2,961.14, decreased 7.27%, TV: $33.72B.
Solana price (SOL): $127.30, declines 4.97%, TV: $5.69B.
XRP price (XRP): $1.90, drops 3.73%, TV: $3.7B.
(Ranked by 24-hour percentage gain)
Story price today (IP): $2.69, up 14.44%, trading activity $145.51M.
Canton price today (CC): $0.1307, up 11.10%, trading activity $29.70M.
LayerZero price today (ZRO): $1.88, up 5.57%, trading activity $116.24M.
(Ranked by 24-hour percentage loss)
Monero price (XMR): $502.36, down 17.81%, with trading activity of $327.2 million.
Hyperliquid price (HYPE): $21.44, lower by 9.27%, recording trading volume of $335.2 million.
Morpho price (MORPHO): $1.16, down 9.23%, with trading activity of $27.3 million.
Stablecoins reflects 0.1% negative change over the past 24 hours, with a market capitalization of $313.7 billion and trading volume of $131.8 billion.
The Overall (Defi) Decentralized Finance market dips 5.3% over the last 24 hours, recording a market cap of $105.4 billion and trading volume (TV) at $5.37 billion. Defi dominance globally marked 3.4%.
Bitcoin Fear and Greed Index Today
Source: Alternative Me
Today’s Fear and Greed Index is 24 (Extreme Fear), down from 32 yesterday and 48 last week, NEAR last month’s 25. Sharp price declines, weak volumes, liquidations, and macro uncertainty increased risk aversion, pushing sentiment from neutral to panic-driven caution.
Latest Crypto Market News Today, January 21
(Note: All of these updates affect traders, as they affect liquidity, sentiment, and potential returns, and thus have to be monitored closely.)
At WEF Davos, Treasury Secretary Scott Bessent said President Trump backs US crypto leadership, halting bitcoin sales and adding forfeited BTC to a growing strategic digital asset reserve plan nationwide.
Tom Lee cautions that geopolitical tensions and tariffs might cause a tightening early-2026 correction, which will reduce U.S. stocks by 15-20%, followed by Fed easing leading to recovery and Bitcoin hitting new highs in the year ahead.House of Doge is building “Such,” a new Dogecoin app launching in H1 2026, offering a self-custodial wallet and merchant tools to boost DOGE payments, with Nasdaq-listed Brag House Holdings.
Grayscale has filed an S-1 with the U.S. SEC to convert its NEAR Trust shares into an ETF and list them on NYSE Arca after approval.
On March 18, Noble announced that it WOULD roll out its Cosmos-based chain and introduce a new EVM Layer-1 to grow the use cases of stablecoin foreign exchange and retain existing liquidity.Delaware Life announced it will add BlackRock’s Bitcoin-balanced index to its fixed indexed annuities, offering indirect bitcoin exposure via IBIT while preserving principal protection and targeting 12% volatility levels today.
Comparative Insight
Compared to yesterday Crypto Update calm and range-bound session, today’s crypto market witnessed a sharp decline. The capitalization dropped from $3.22 trillion to $3.09 trillion, volumes surged, and the Fear and Greed Index slid from fear to extreme fear. Bitcoin and Ethereum shifted from near-stability to steep losses, while capital rotated away from momentum-driven altcoins, highlighting a clear transition from consolidation to panic-led selling pressure across the industry.
What This Means for Cryptocurrency Users
To crypto users, the data is indicative of increased short-term risk as a result of volatility and selling panic. Nevertheless, the continued ETF filings, government interest, and institutional products are indicators that the ecosystem is strong in the long term despite short-term price adjustments.
Risk Context: This commentary is not about long-term conditions and is merely informational. It does not point in the direction of the price or show an action to be taken onthe investment.
CoinGabbar’s Opinion
Based on the last 24 hours, crypto investing is risky in the short term due to sharp declines and extreme fear. However, for long-term investors, gradual accumulation during fear phases may be beneficial if managed with strict risk control.
Disclaimer: This content is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and risky. Always conduct your own research and consult a qualified financial advisor before making investment decisions. Not all regions can offer some of the services or assets discussed.
