Bitcoin has fallen from a peak of $126,000 to $78,000, while spot trading volume has dropped from about $200 billion in October to roughly $104 billion after the October 2025 crash. Despite five straight months of negative spot netflows and shrinking stablecoin and derivatives capital, spot buyers accumulated around $2.1 billion in BTC between 19 and 26 January, offering a fragile signal of a possible short‑term rebound.

Story Protocol's token IP fell about 18% over the past 24 hours as derivatives flows turned decisively risk-off. Roughly $17 million exited IP perpetuals and open liquidity slid to $68.93 million, while total liquidations reached about $1.19 million and funding turned negative. Price is tracking a $1.7–$1.0 support band and hovering near the mid-range around $1.4, with the $1 low from February 2025 back in view.

According to Alphractal, total crypto liquidations hit $2.59 billion in the latest sell-off, with Ethereum accounting for $1.16 billion as ETH slid near $2,300. On-chain data showed whales "7 Siblings" and "0xB7" bought a combined $57.44 million in ETH, while MFI hovered around 41 and CMF stayed negative, signaling lingering downside risk.

CAKE extended its sell off, reaching the lowest level since April 2025, while the broader slide began in November 2025. Spot volume surged 115% to $76 million and price fell over 11%, with Binance participants contributing notable selling and a split between spot and perpetual positioning. A pivotal demand zone now anchors prospects for a move toward $2.5–$2.7.

Bitcoin has seen $1.33 billion in weekly net outflows from U.S. spot ETFs as traditional investors scale back exposure, while short-term holders step in to support price action. Short-Term Holder SOPR is hovering near 0.99, indicating selling is close to breakeven, and long-term holders show minimal spending according to Binary CDD, keeping supply pressure limited. Market positioning and the LTH-to-STH SOPR ratio suggest room for further upside if short-term holders move decisively into profit and long-term holders continue to hold.

ZRO fell 14% in the past 24 hours after a prior 45% advance, as a rejection at resistance revived selling and produced about $233,000 in perpetual losses for long positions. Indicators point to near-term cooling even as Accumulation/Distribution remains positive at 57 million ZRO; on January 19 a token unlock valued around $46.74 million preceded gains before selling picked up on January 21.

Institutional investors reduced crypto exposure via U.S. spot ETFs, with $1.33 billion exiting Bitcoin funds. Ether and XRP posted net withdrawals of $611 million and $40.6 million, while Solana added $9.57 million; outflows reached levels last seen in November as capital rotated toward gold and silver.

Bitcoin has pulled back toward the $91,000 area after failing to hold above $95,000, but spot and institutional data indicate that underlying demand remains firm. Spot Taker CVD has turned positive, exchanges have seen about $171.83 million in BTC withdrawals, and U.S. institutions have accumulated roughly $53 billion over the past year, while macro liquidity and tariff risks continue to shape the broader environment.

Fetch.ai’s FET fell 11% while trading volume surged 145% to about $145 million, highlighting strong participation during the sell-off. Accumulation signals and a CMF reading near 0.09 suggest buyers remain active, with a dragonfly doji hinting at a potential reversal. Key resistance zones lie around $0.27 and $0.31.