The cryptocurrency market is key now, with signs of the downside phase of a correction already being seen and progressively weakening momentum afterward.
What’s notable is the lack of movement from Binance Futures whales, typically considered market influencers during major market phases.
The absence of intervention has led to considerable doubt over the capacity for a near-term recovery and has left markets questioning.

Whales Remain on the Sidelines
Historically, Binance futures whales have always been critical in stabilizing market corrections when those corrections are at the bottom of a downward cycle.
For the most part, 2 major patterns characterize their actions, namely the Purple Box and Green Box patterns.

These patterns have given us valuable insights into whale activity and are precursors to market reversals.
Sharp market declines induce the Purple Box pattern, as whales absorb liquidity, which creates a sharp and rapid increase in the market buy ratio.
This pattern shows that a large market player is entering to negate selling pressure, often bringing a bounce.

At the same time, the Green Box pattern is observed over a relatively prolonged period of sideways movement.
Whales here slowly pile into our positions, as you can tell from the steady upward trend in MBR.
This is an accumulation phase before a breakout, and the large investors grow in confidence, accumulating more.

In the previous price correction moving the market to 89k, neither of the Purple Box or the Green Box patterns could be seen.
But the fact that whales have not intervened here appears a marked departure from past market behavior, leaving traders and analysts baffled about the new market dynamics.

Momentum Weakens Amid Growing Sell Pressure
A further urgent point is the market losing momentum. This trend is visualized in the attached chart, which focuses on the important stablecoin exchange net flows.
In the chart, the yellow histogram is the 36-hour moving average of stablecoin net flows to exchanges. We are seeing a recent uptick in these inflows, which hints at more selling.

Traders use stablecoins as a medium to move funds onto an exchange to be sold. This rise in netflows of stablecoins generally coincides with increased sell pressure on the market.
While whales historically overcame such pressures, their absence today has exposed the market without indicating that a reversal will occur.

In stark contrast, the whale behaviors are observed, and a comparison to the market structure seen in January is done.
When the price broke down last January, they were actively involved, removing some liquidity and stabilizing the market.

Their participation at that juncture was critical to allowing the recovery to take hold and provide a base for upward acceleration.
In the current situation, there is a deafening silence on their part, signaling a lack of belief in the near-term market outlook.

No Signs of Recovery
In the absence of whale intervention, its trajectory remains precarious. The absence of the Purple Box and Green Box patterns indicates that these major players are not convinced. And as such, the market is left to its own devices.
Adding to the picture of uncertainty, momentum is weakening, making it unlikely that any recovery will be swift.

It also shows the difficulty buyers are having in getting their momentum back to the upside. Nevertheless, the differences are notable, as some comparisons to that structure from last January have been made.
Unlike the current phase, the correction’s characteristic was to include clear traces of whale actions so the market would remain stable and prepare for a rebound.

Lacking activity of this sort, the market may need more time in a corrective phase.

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Hyperliquid has launched a TRUMP perpetual contract, enabling traders to leverage positions with up to 3x leverage. TRUMP meme coin by U.S. President-elect Donald Trump operates on the Solana blockchain.
This move aligns with the platform’s strategy to offer innovative trading solutions and cater to community demand. Despite the positive development, the native token HYPE saw an 8% decline in the past 24 hours.

Details of the TRUMP Perpetual Contract on Hyperliquid
On January 18, Hyperliquid announced on X the listing of the TRUMP perpetual contract, a move driven by community interest. The contract uses on-chain AMMs for Oracle pricing, ensuring a decentralized approach.
With up to 3x leverage, traders can speculate on its price movements and potential gains. However, the platform warns of risks, including low liquidity, high volatility, and increased liquidation potential.

TRUMP Coin Becomes the First to Hit $10 Billion in Market Cap
Donald Trump has officially launched the TRUMP meme coin, which can be purchased through its official website using debit cards or cryptocurrency.
The coin has made history as the first cryptocurrency to surpass a $10 billion market cap within 24 hours of its launch.
Available for trading on Hyperliquid, the token was trading at a price of $19.27 and recorded a 24-hour trading volume of $213 million, with $65 million in open interest.

At the time of writing, the coin’s fully diluted valuation (FDV) has reached an astounding $19 billion, underscoring its remarkable market reception.
The TRUMP token’s primary liquidity pool on the Meteora protocol reported $12.2 million in revenue over the past 24 hours, ranking second only to Tether. If the current hourly fee income persists, the token’s total daily revenue could exceed $58.08 million.

Hyperliquid Exchange and HYPE Token Performance
Hyperliquid, a next-generation blockchain platform, is setting new standards in decentralized finance (DeFi) with its high-performance infrastructure and scalability. Over the past 24 hours, Hyperliquid’s exchange reported a trading volume of $6.65 billion across 72 listed tokens. The platform has 2 billion in locked value.

HYPE price was currently trading at $21.89, marking an 8% decline in the past day. Despite this drop, the token has risen by 585% over the last quarter, reflecting sustained investor confidence.
HYPE’s market cap stands at $7.33 billion, with a 24-hour trading volume of $218 million—a 50% increase compared to the previous day. CoinGape recently reported Hyperliquid’s HYPE token among the 4 coins to watch as Bitcoin once again surpassed the $100K milestone.

#bitcoin #altcoins #cryptomarket #cryptocurrency #cryptonews

Texas aims to lead the digital revolution with a groundbreaking “Strategic Bitcoin Reserve Act,” securing economic resilience and innovation through state-managed bitcoin integration.

Texas Proposes Strategic Bitcoin Reserve to Revolutionize State Finances

Texas State Senator Charles Schwertner has introduced Senate Bill 778, known as the “Texas Strategic Bitcoin Reserve Act,” to establish a state-managed bitcoin reserve. Schwertner emphasized the significance of this initiative on social media platform X on Jan. 15, stating:
It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve.

“This would position our state at the forefront of the digital economy, driving growth and securing economic freedom for our great state!” he added.
The bill outlines measures for the secure management of bitcoin within the state treasury, administered by the Texas Comptroller. Provisions include the use of “cold storage” for secure custody, regular audits, and policies ensuring transparency and best practices in digital asset management.
Residents and organizations would be allowed to donate bitcoin to the reserve, with acknowledgment certificates available for contributors.

The legislation highlights bitcoin’s potential to hedge against inflation, strengthen financial resilience, and foster innovation in digital finance. Regular reporting would keep the public informed of the reserve’s status and performance.
If enacted, the Texas Strategic Bitcoin Reserve Act would position the state as a leader in the digital economy.

The bill also establishes protocols for bitcoin transactions, limiting them to emergency or legislative-approved scenarios to maintain oversight and accountability. An advisory committee would provide recommendations on the reserve’s operations and security.
Senator Schwertner’s initiative underscores Texas’s vision of promoting economic freedom and growth through strategic digital asset integration. The act will take effect immediately with a two-thirds legislative vote or on Sept. 1 otherwise.

The push for state-level bitcoin reserves comes amid a broader trend of legislative interest in digital assets. President-elect Donald Trump has floated the idea of a national strategic bitcoin reserve, suggesting its potential to enhance U.S. financial leadership.
Similarly, U.S. Senator Cynthia Lummis has proposed legislation to establish a strategic bitcoin reserve.

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