By Omkar Godbole (All times Eastern unless otherwise noted)
as bitcoin With recent gains of over $93,000, capital has shifted away from memecoins and towards utility tokens, with artificial intelligence (AI)-related assets said to be leading the way.
CoinDesk’s Culture and Entertainment Select Index, Metaverse Select Index, 10 Capped ex-Bitcoin Index and DeFi Select Index all rose more than 4% in the past 24 hours. The CoinDesk Meme Select index was little changed and turned negative, pausing its recent gains.
It shows that capital is moving towards entities or mature sub-sectors with utility, such as DeFi and the Metaverse, rather than speculative, funny cryptocurrencies. This is a strong sign of the sustainability of the cryptocurrency’s recent rally.
Among individual coins, AI-related tokens have performed well over the past 24 hours. For example, Render Network’s RENDER rose 20%, becoming the best performer among the top 100 cryptocurrencies by market capitalization. Render is the leading decentralized GPU computing platform for applications ranging from 3D rendering to machine learning and generative artificial intelligence. Smaller AI tokens like Virtuals Protocol’s VIRTUAL have gained more than 6%
Layer-1 blockchain Sui native currency, its shares are up more than 15% on expectations for the privacy technology, matching gains for Provenance Blockchain’s HASH token. Payments-focused XRP rises 10% to highest in nearly two months, while Solana’s sol Despite the recent rebound, it remains locked in a multi-month range.
The moves are consistent with Wall Street’s renewed optimism about artificial intelligence and high-beta tech stocks.
Antonio Di Giacomo, senior market analyst at XS.com, said rising geopolitical tensions and upcoming economic data, especially Friday’s U.S. non-farm payrolls report, deserve attention.
He noted that “markets remain wary of rising geopolitical tensions following the U.S. attack on Venezuela, a factor that has heightened perceptions of systemic risks and dampened enthusiasm for riskier assets including cryptocurrencies.” He added that weak employment data could affect the Federal Reserve’s monetary policy and investors’ risk appetite.
Other analysts say continued gains in the cryptocurrency market depend on inflows into Bitcoin ETFs, which have started 2026 on a positive note, totaling more than $1 billion in the first two trading days. These inflows are needed to continue to sustain market buying.
In traditional markets, futures tied to the Nasdaq 100 and S&P 500 were little changed, pointing to a cautious opening after Monday’s gains. The Nasdaq has been consolidating within a narrowing price range (see technical analysis section). The direction of the final resolution may determine the next move and impact the cryptocurrency market accordingly. Stay alert!
Read more: For analysis of today’s altcoin and derivatives activity, see Today’s Cryptocurrency Market
What to see
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- cryptocurrency
- Macro
- January 6, 7 am: Mexico consumer confidence index in December (previous value 44.2).
- January 6, 8 a.m.: Brazil December S&P Global PMI. Services (old version 50.1); Composite (previous version 49.6).
- January 6, 9:30 a.m.: Canadian December S&P Global PMI. Services (formerly version 44.3); Composite (formerly 44.9).
- January 6, 9:45 AM: US December (final) S&P Global PMI. Service estimates. 52.9; Comprehensive estimate. 53.
- income (Estimate based on FactSet data)
Token event
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- The SSV Network DAO is voting to expand its market making program, increasing the total allocation to 300,000 SSV ($1.3 million) to secure 12-18 month agreements with top market makers to increase liquidity. Voting ends on January 6th.
- Following an amendment to a previous proposal, Compound DAO is voting to top up reward contracts on Arbitrum and Unichain to maintain user incentives. Voting ends on January 6th.
- The TrueFi DAO is voting to authorize a comprehensive protocol reshape and mint the remaining TRU supply to recapitalize the finances. Voting ends on January 6th.
- Aave is voting on a proposal to add Ethena’s USDe and sUSDe’s April 2026 principal tokens to V3 Plasma instances. Voting ends on January 6th.
- Unlock
- Token issuance
- January 6: Brevis (BREV) will be listed on Binance, Bitget, OKX, MEXC, LBank, Gate, and more.
- January 6: Rain (RAIN) is listed on KuCoin.
Meeting
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
market trend
- BTC is down 0.71% since 4pm ET on Monday to $93,425.15 (24 hours: +0.61%)
- ETH fell 0.5% to $3,221.91 (24 hours: +1.79%)
- CoinDesk 20 fell 0.3% to 3,047.78 (24 hours: +3.34%)
- The comprehensive pledge rate of Ethereum CESR increased by 2 basis points to 2.85%
- The BTC financing interest rate on Binance is 0.0037% (annualized 4.0537%)
- DXY unchanged at 99.35
- Gold futures rose 0.44% to $4,456.40
- Silver futures rose 1.83% to $77.56
- The Nikkei 225 Index closed up 1.32% to 52,518.08 points
- The Hang Seng Index closed up 1.38% to 26,710.45 points
- The FTSE 100 rose 0.58% to 10,062.63
- The Stoxx Europe 50 index fell 0.24% to 5,909.44
- The Dow closed up 1.23% on Monday to 48,977.18
- The S&P 500 closed up 0.64% at 6,902.05
- The Nasdaq Composite Index closed up 0.69% at 23,395.82 points
- The S&P/TSX Composite Index closed up 1.06% at 32,220.00
- Latin America’s S&P 40 index closed up 2.07% at 3,222.70 points
- The U.S. 10-year Treasury bond rate fell 2 basis points to 4.16%
- E-mini S&P 500 futures were unchanged at 6,939.75
- E-mini Nasdaq 100 futures unchanged at 25,585.50
- E-mini Dow Jones Industrial Average futures fell 0.2% to 49,129.00
Bitcoin Statistics
- Bitcoin dominance: 58.98% (-0.16%)
- Ethereum to Bitcoin ratio: 0.0345 (0.42%)
- Hash rate (seven-day moving average): 1,032 EH/s
- Hash price (spot): $39.90
- Total fee: 2.79 BTC / $259,967
- CME Futures Open Interest: 111,130 BTC
- BTC in gold: 21 ounces.
- Bitcoin and gold market capitalization: 6.25%
technical analysis
- This chart shows the daily price movements of SOL and Nasdaq in candlestick format.
- Despite rising 11% since the beginning of the year, SOL remains stuck in a multi-week sideways channel. A potential breakout would confirm a trend change from bearish to bullish.
- The Nasdaq is consolidating in a contracting triangle – a tightening price range signaling indecision. Whichever way the breakout goes, it could determine the next big move for the index.
crypto stocks
- Coinbase (COIN): Closed Monday at $254.92 (+7.77%), unchanged pre-market
- Circle Internet (CRCL): Closed at $84.80 (+1.59%), +0.51% at $85.23
- Galaxy Digital (GLXY): Closed at $26.30 (+6.26%), -0.53% at $26.16
- Bullish (BLSH): Closed at $41.48 (+5.65%), unchanged pre-market
- MARA Holdings (MARA): Closed at $10.59 (+6.86%), -0.76% at $10.51
- Riot Platforms (RIOT): Closed at $14.79 (+4.45%), -0.27% Closed at $14.75
- Core Scientific (CORZ): Closed at $16.73 (+4.63%)
- CleanSpark (CLSK): Closed at $12.30 (+6.49%), -0.81% at $12.20
- CoinShares Valkyrie Bitcoin Miner ETF (WGMI): Closed at $45.96 (+9.30%), -1.11% at $45.45
- Exodus Movement (EXOD): Closed at $15.67 (+3.09%)
Cryptocurrency Treasury Corporation
- Strategy (MSTR): Closed at $164.72 (+4.81%), -0.18% at $164.43
- Semler Scientific (SMLR): Closed at $21.06 (+18.45%)
- SharpLink Gaming (SBET): Closed at $10.27 (+5.99%), -0.39% at $10.23
- Upexi (UPXI): Closed at $2.27 (+18.85%)
- Lite Strategies (LITS): Closed at $1.53 (-0.65%)
ETF flows
Spot BTC ETF
- Daily net traffic: $697.2 million
- Cumulative net flow: $57.76 billion
- Total Bitcoin holdings are approximately 1.3 million
Spot ETH ETF
- Net daily traffic: $168 million
- Cumulative net flow: $12.69 billion
- The total amount of ETH held is about 6.11 million
Source: Farside Investors