The global crypto market capitalization has decreased by approximately 1.1% to $2.99 trillion.
Bitcoin ($BTC): Currently trading around $88,455, which is a decline of about 1.3% in the last 24 hours. Analysts at Square are discussing whether it will hold the support level at $88,000.
BNB: Trading around $880, showing a slight decline of 1.4%.
Good Performers: Despite the red market, tokens like NOM (+115%), ZKC (+70%), and ENSO (+69%) are trending as top gainers.
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U.S. Crypto Legislation: A key topic of discussion is the upcoming Senate hearing on January 27. A draft of the Digital Commodity Exchange Act has recently been released, which could grant the CFTC exclusive authority over the spot crypto market.