Major cryptocurrencies declined after a weak session across broader markets, with Bitcoin falling 3% to $88,200 and briefly moving below $88,000. Ethereum dropped 6% to $2,905, while Solana fell 2% to $127 and XRP declined 2% to $1.88. More than $1 billion in long positions were liquidated during Bitcoin’s slide, while Bitcoin and Solana moved below key technical support levels. Among leading movers, MYX gained 11% and ZRO rose 10%. Elsewhere, Delaware Life added Bitcoin exposure to a fixed indexed annuity through performance linked to BlackRock’s spot Bitcoin ETF. Trump Media said it plans to distribute crypto tokens to shareholders in February. Coinbase CEO Brian Armstrong was in Davos advocating a U.S. crypto market structure bill. Portugal’s gambling regulator blocked Polymarket over unlicensed gambling concerns, while the CFTC warned that staffing shortages could limit its ability to assume broader crypto oversight. Galaxy Digital also announced plans for a $100 million crypto and fintech hedge fund, according to Decrypt.
