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Alas, Ethereum’s attempt to remain above $3,050 was as fleeting as a compliment from a rival. It descended below $3,020 and $3,000, entering a bearish zone with all the grace of a guest arriving fashionably late to a ball-only to find the festivities already in disarray. The bears, ever relentless, pushed the price below $2,920, and it finally tested $2,865, where it now lingers, consolidating its losses like a wallflower at the edge of the dance floor.

Meanwhile, the cryptic old-timers-those coins which have been on holiday since the dinosaurs roamed-are stirring. Their clandestine movements suggest that we are entering a phase historically reserved for moments of existential dread in markets past.

At 7:02 p.m. on Jan. 21, XRP is trading at $1.9490, easing slightly after a strong intraday push that carried price toward the $1.98-$1.99 area. The pullback follows a sharp rebound from the session low near $1.86, leaving XRP well off its recent trough. While the most recent hourly candles show some hesitation, price continues to hold above the midpoint of the day’s range, suggesting buyers have largely maintained control following the recovery.

Traders, ever the opportunists, circle like vultures, yet on-chain behavior hints at a different drama unfolding behind the scenes.

Strategy Inc. (MSTR) has substantially increased its cryptocurrency holdings, finally surpassing the 700,000 BTC milestone. According to a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), the Tysons Corner-based firm acquired an additional 22,305 BTC between Jan. 12 and Jan. 19, 2026, for approximately $2.13 billion. One might wonder if the SEC is now considering a career in cryptocurrency itself, given how frequently it’s called upon to file paperwork.

According to a new investigation by the esteemed Elliptic, the Central Bank of Iran (CBI) managed to amass at least $507 million in USDT, a stablecoin with ties to the U.S. dollar created by Tether. This revelation comes courtesy of Dr. Tom Robinson, the chief scientist and co-founder of Elliptic, who has meticulously mapped out a web of wallets linked to the CBI-like an accountant on a caffeine high.

The price of HYPE nosedived to a paltry $20.8, only to make a feeble attempt at recovery, now trading at a mere $21.02-down 9.21% as if the market had been handed a lemon and a warning label.

David Sacks, that enigmatic figure draped in the mantle of the Trump administration’s Crypto Czar, declared to CNBC at Davos 2026 that the banks-those ancient titans of paper and gold-would, upon the passing of the market structure bill, “fully enter the crypto industry.” Ah, what a vision! No longer shall there be two worlds, but one: a digital assets realm where the old gods and new demons merge in a single, chaotic embrace. “Everyone offering the same product should be regulated the same way,” he intoned, as if channeling the divine edicts of a bygone era.

Now, as if on cue, the entire crypto market takes a nosedive, sinking nearly 4%, because nothing says stability like geopolitical tensions and rising tariffs-perfect ingredients for a market meltdown. Bitcoin, the granddaddy of them all, who once flirted with $91,000, now tiptoes below $90,000, having dipped as low as $87,828. It’s as if Bitcoin has decided to wipe out its 2026 gains before breakfast-clearly, it’s a trendsetter.

It appears that the fickle hearts of investors have shifted from mere speculation to a passionate embrace of “utility-first” assets. Such a change is reminiscent of a reveler who suddenly discovers they prefer fine wine over the swill typically served at a tavern! Today’s crypto gainers are being handsomely rewarded for their ability to unite the realms of decentralized finance and the staid world of institutional requirements, resulting in chart movements that could put a ballet to shame.