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The Daily Drip
Wednesday, January 21, 2026
The Daily Drip
âś… Top Takeaways
- BTC under “sell America” pressure: Bitcoin trades near $88K after an 8–9% six‑day slide as tariff‑driven US‑EU tensions and a weaker Dollar feed a broader risk‑off move.
- ETH supply overhang fears: Ether is down more than 11% in recent days around $2.9K as the market digests BitMine’s drive to acquire 5% of supply and what happens when that bid disappears.
- Gold at record highs: Gold touches a new all‑time high near $4,887 with calls for $5,000 in 2026, underscoring how aggressively capital is crowding into traditional safe havens at crypto’s expense.
đź“° Crypto Market Summary
Bitcoin dropped 8.79% over six days, trading near $88,000 after sliding below $90,000 as geopolitical tensions between the US and EU over Greenland triggered widespread risk-off trading. The cryptocurrency faces dual pressure from tariff threats and diminished demand, with analysts noting Bitcoin has become viewed as an American asset vulnerable to 'sell America' sentiment.
Strategy Inc. announced the purchase of 22,048 BTC for approximately $2.1 billion at an average price of $95,284 per Bitcoin—25% above its historical cost basis. The aggressive acquisition, funded through $2.125 billion in stock sales, brings the company's total holdings to 709,715 BTC despite Bitcoin's recent weakness.
Ether fell over 11% in recent days, trading around $2,900 as concerns mount over Tom Lee's BitMine nearing its goal of accumulating 5% of total ETH supply. With 4.2 million ETH already acquired (3.48% of supply), traders worry that slowing institutional demand could trigger further declines if the company's buying phase concludes.
Gold hit an all-time high of $4,887 per ounce before settling around $4,840 as Trump's Greenland tariff threats and weakening US dollar drove aggressive safe-haven buying. Analysts predict gold could reach $5,000 this year amid escalating US-EU tensions and concerns over the Federal Reserve's independence, with the metal up 75% year-over-year.
Solana rose 0.96% to $126.87, outperforming Bitcoin and Ethereum amid broader crypto market weakness. The relative strength suggests some rotation into alternative layer-1 blockchains, though Solana remains down over 11% from recent highs alongside the wider market decline.
The US Dollar Index fell to 98.50, its lowest level in weeks, as Trump's aggressive tariff threats against eight NATO nations over Greenland triggered a 'sell America' trade. The dollar's weakness supported gold and commodities while adding pressure to dollar-denominated crypto assets like Bitcoin.
đź’° ETF Flows & Market Structure
Combined crypto ETFs see roughly $709.7M in net outflows, with about $479.7M leaving BTC products and another $230M exiting ETH funds, reversing prior accumulation and reinforcing the risk‑off tone.
The S&P Cryptocurrency Broad Digital Asset Index drops 4.27% on the day but remains up about 2.27% year‑to‑date, showing how quickly early‑year gains can compress when macro stress and structural selling collide.
Signal: flows are defensive rather than capitulatory — redemptions are large, but YTD performance stays positive, leaving room for both further de‑risking and sharp rebounds if macro headlines soften.
đź“Š Sentiment Dashboard
🔢 Market Performance
| Coin | Dec 31 | Now | 24h % | 7d % | YTD % | Cap |
|---|---|---|---|---|---|---|
| BTC | $87,508.83 | $88,049.67 | -1.60% | -8.65% | 0.62% | $1,759.13B |
| ETH | $2,967.04 | $2,908.42 | -2.77% | -12.46% | -1.98% | $351.03B |
| USDT | $1.00 | $1.00 | 0.03% | -0.09% | 0.07% | $186.85B |
| XRP | $1.84 | $1.89 | -0.17% | -11.04% | 2.92% | $115.12B |
| BNB | $863.26 | $869.88 | -2.45% | -7.41% | 0.77% | $118.62B |
| SOL | $124.48 | $127.16 | 0.05% | -12.85% | 2.15% | $71.93B |
| TRX | $0.28 | $0.30 | 0.28% | -1.48% | 6.38% | $28.21B |
| DOGE | $0.12 | $0.12 | -0.86% | -16.45% | 2.14% | $20.64B |
| ADA | $0.33 | $0.35 | -0.01% | -14.84% | 6.32% | $12.64B |
| BCH | $598.96 | $577.05 | 1.34% | -4.19% | -3.66% | $11.53B |
- BTC is clinging to a slim 0.6% YTD gain after an 8%+ weekly slide, while ETH has flipped negative on the year, reflecting how concentrated selling has been in large caps.
- SOL and TRX maintain modest positive YTD performance despite deep weekly drawdowns, reinforcing their status as relative‑strength names traders watch for early reversals.
- DOGE and ADA remain among the weakest on a 7‑day basis, highlighting how meme and high‑beta smart‑contract exposure tends to absorb outsized damage in risk‑off regimes.
⚡ Risk & Market Lens
With BTC viewed increasingly as a proxy for U.S. risk, ETH facing a potential supply‑overhang narrative and gold printing new highs, the short‑term setup favors patience and tight risk management over aggressive bottom‑fishing.
What to watch: how deeply ETF redemptions persist, whether Strategy Inc.’s leveraged BTC bet is rewarded or punished as prices move, and if Solana’s relative strength can hold once volatility inevitably shifts back toward beta.
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OPEN YOUR H2cryptO ACCOUNTDisclaimer
This newsletter is for informational and educational purposes only and is not investment advice, solicitation, or an endorsement of any strategy or asset. H2cryptO does not warrant data accuracy or completeness. Crypto assets are highly volatile; always consult professional advisors, use caution, and comply with local laws before making strategic, financial, or investment decisions.