The overall sentiment has shifted from euphoria to fear/caution.
Bitcoin (BTC): It has fallen below the psychological level of $90,000 USD (trading near $89,400). Selling pressure mainly comes from "whales" and long-term holders who are taking profits after the recent attempt to reach $97,000.
Key Supports: Analysts at Square are watching the area between $84,000 and $86,000. If it doesn't hold, we could see a deeper correction.
2. Altcoins and Trending Narratives
Despite the drop in BTC, there are very specific focal points of activity.
Ethereum (ETH): It remains under pressure near $2,970. However, the narrative for 2026 remains strong due to the 'tokenization of real assets' (RWA). It is said that 2026 will be the 'Year of Ethereum'.
BNB: It has shown resilience recovering the $880 level, although with a slight daily drop. It remains the preferred asset for those seeking passive income through the Binance ecosystem. And it is rising.
Winners of the Day: Projects like SXT, D, and AXS are challenging the general trend with double-digit increases (between 18% and 46%).
3. High-Impact News on Binance
Options Expiration: This Friday, $2.1 billion in BTC and ETH options expire, which usually generates turbulence in prices days before.
Network Updates: Binance will temporarily suspend deposits and withdrawals of THORChain (RUNE) tomorrow, January 22, due to a network upgrade. Keep this in mind if you are trading this asset.
Institutionals: Grayscale continues to push to convert more trusts (like the one for NEAR) into ETFs, keeping the hope of institutional capital inflow alive.
4. Local Context (Venezuela)
It is interesting to note that in the Binance Square feeds for the region, there is much discussion about the impact of the recent oil agreement mediated by the U.S., which has injected $300 million into the Venezuelan economy.
This usually influences P2P transaction volume and local liquidity of stablecoins like USDT.
Expert Advice: On days like today, with massive long position liquidations (over $1 billion in 24 hours), the key is risk management. If you have 'stuck' funds in USDT, Binance Square recommends looking at Learn & Earn options or year-start campaigns to generate returns without direct exposure to extreme volatility.