BTC loses range support as macro headwinds build

Hey folks,

Welcome back to your weekly snapshot of crypto insights, where we cover major trends, market moves, policy shifts, and must-know developments from the crypto space.

Markets started the week on uneasy footing as macro pressure weighed. BTC lost its $93K consolidation amid rising trade tensions, a sharp leverage flush, and renewed safe-haven demand, dragging price back into the high-$80Ks and putting key support back in focus ahead of the US Fed meeting. ETH followed with a corrective move below $3K, while select altcoins and RWAs bucked the trend, showing pockets of strength across the market. 

Meanwhile, on-chain activity stayed dynamic from surging DEX volumes to record prediction market TVL, highlighting where capital continues to rotate despite broader risk-off conditions. Here's your quick dive into the week that was and the future that's unfolding.

BTC began the week consolidating near $93K, but momentum faded amid intensifying macro headwinds. Escalating trade tensions, a sharp $1B leverage flush, and sustained safe-haven flows into gold and silver pressured BTC lower, dragging price into the $87K–$88K zone and breaking prior range strength. The weekly chart reflects this shift, with rejection from $92K–$93K followed by lower highs and a decisive midweek sell-off toward $86K–$86.5K, where buyers finally absorbed supply. A brief policy-linked rebound lacked follow-through, with US shutdown risks continuing to cap upside. Looking ahead, attention turns to the Fed decision, Powell’s tone, and broader macro volatility. Technically, $86K–$88K remains pivotal support, while sustained acceptance above $90K–$92K is required to rebuild bullish structure.

ETH remained under pressure through the week after rejecting the $3.15K–$3.2K area. A steady decline culminated in a sharp drop toward $2.8K, where buyers stepped in. The rebound toward $2.9K–$2.95K signals stabilization, but structure remains corrective below $3K.

In RWAs, tokenized equity and commodity trading are accelerating, led by TradeXYZ, Hyperliquid’s real-world asset platform, which hit new highs this week. TradeXYZ crossed $1B in 24-hour volume and reached a record $790M in open interest, up 200% MoM. Growth has been driven by strong demand for precious metals, as SILVER/USDC alone saw $740M in daily volume.

In ETFs, VanEck launched the first US-listed spot Avalanche ETF, the VanEck Avalanche ETF (VAVX), expanding its crypto product lineup. The fund offers spot exposure to Avalanche’s AVAX and may generate staking rewards by staking a portion of holdings. The launch underscores growing institutional demand for token exposure through traditional finance vehicles.

Last week, Base saw a sharp surge in DEX activity, overtaking both Ethereum and BNB in weekly trading volume for the first time. Base recorded around $16.5B in seven-day DEX volume, compared with $13.0B on Ethereum and $15.6B on BNB. However, this lead proved short-lived, with Ethereum and BNB overtaking base. 

Meanwhile, prediction market TVL climbed to a new all-time high above $560M, surpassing the previous peak set during the 2024 U.S. elections. Polymarket continues to dominate with roughly $367M TVL, followed by OPINION at around $146M. This milestone underscores sustained growth and increasing capital allocation to on-chain prediction markets beyond election-driven demand.

In the altcoins sector, top performers of the week included RIVER, CANTON, and HYPE, which posted significant gains.

Weekly price movement: 

(All data here as of 1:40 p.m., 27 January 2026)

Before we conclude, here’s a quick look at some important news from around the crypto world.

That’s it for now. Thanks for sticking around.

See you later, folks! 👋