Market Review, January 29-30: The Beginning of a Market Correction From January 29th to 30th, the market experienced one of the fastest declines in recent years, with nearly $10 trillion in global market capitalization evaporating in just two days. ⏪ January 29th – Microsoft Earnings Triggers Risk Aversion Microsoft's earnings report showed that, against an increasingly competitive backdrop, the returns on artificial intelligence (AI) will take longer to materialize. As a Nasdaq-weighted stock, the sell-off in Microsoft (MSFT) triggered widespread equity deleveraging. Investors acted swiftly, selling off the most liquid assets, including precious metals, despite their recent strong performance. ⏪ January 30th – Fed Chair Appointment Changes Inflation Expectations The appointment of Kevin Warsh as the new Federal Reserve Chair eased concerns about uncontrolled money printing. The market quickly adjusted its expectations for monetary policy, reducing the demand for inflation hedges. Metals and Derivatives Experience Chain Liquidation 🔤 Market Impact - Stocks: Western markets generally declined - Precious Metals: One of the largest drops in history - Cryptocurrencies: Liquidations exceeded $2.5 billion due to macroeconomic pressures

Global asset rankings have shifted, with Bitcoin falling to 13th place. Bitcoin's drop out of the top ten highlights the rapid changes in market leadership during periods of macroeconomic pressure. Recently, capital has favored commodities and some stocks over cryptocurrencies.

During the same period, @MicroStrategy increased its holdings by 855 bitcoins, at a cost of approximately $75.3 million.

Price Discovery Board: @useTria $TRIA The #TRIA trading board began today at 10:00 UTC and has raised $12 million in funding. This board uses benchmark data from other payment projects such as #Safe, #WirexPay, and #Stable to compare potential Final Price (FDV) scenarios.

❗️@HyperliquidX Launches HIP-4 Result Trading on HyperCore This new primitive enables prediction markets and options-like instruments through fully collateralized result contracts, introducing non-linear, dated derivatives without leverage or liquidation. 👉 Currently available on the testnet, with plans to launch a USD-denominated live market upon completion of development. Based on user feedback, permissionless deployments may be rolled out in the future.

Treasury Bonds & ETFs: Cryptocurrency Accumulation and Fund Flows From January 26th to 30th, spot Bitcoin ETFs saw net outflows of $1.49 billion, marking the second-largest weekly outflow on record and offsetting most of the inflows earlier in January. During the same period, MicroStrategy added 855 Bitcoins, costing approximately $75.3 million.

Price Discovery Board: @Zama $ZAMA The #ZAMA board, which began trading today at 13:00 UTC, has raised $185 million in funding. This board uses benchmark data from other privacy projects such as #Dash, #Zcash, and #Monero to compare potential FDV schemes.

2025 Binance Futures Token Performance As Binance gains increasing attention, this dataset provides more context. Among the approximately 150 #Binance# futures tokens launched in 2025, the median token price showed a steady downward trend over time.

The following projects are scheduled for initial public offerings (IPOs) next week. These are projects that have already announced their listing plans and are planning to enter the cryptocurrency market. The list includes: @Zama $ZAMA, @EchelonMarket $ELON, Trump Media, @Rails_xyz $RAILS, @Rainbowdotme $RNBW, and @TeaProtocol $TEA.

Cryptocurrencies and Commodities: Year-to-Date Performance in 2026 In the past few days, both cryptocurrencies and commodities have plummeted, erasing most of their gains since the beginning of the year. What appeared to be a trend of diversification at the start of 2026 has quickly turned into a forced sell-off across various assets.