Daily Report 2026.1.16

Yesterday, BTC experienced a correction, which may be related to Coinbase withdrawing support for CLARITY, leading the U.S. Senate Banking Committee to postpone the review of this bill.

Coinbase CEO Armstrong publicly opposed this Thursday’s cryptocurrency CLARITY bill.

He said the bill has been repeatedly amended, now becoming highly friendly to traditional banks and institutions, but extremely bad for domestic crypto companies.

He would prefer no bill at all rather than a poorly drafted one.

His main concerns include:
1. The latest version of the bill aims to restrict the收益或奖励来源 for stablecoin holders. For example, the annualized rewards received when holding USDC on exchanges.

2. These stablecoin rewards could originally attract more users to deposit on exchanges, and exchanges could earn interest. But they believe such restrictions lean more towards traditional banking and are unfavorable to native crypto companies.

3. The bill would significantly limit the issuance or trading of assets like stock tokenization, imposing more responsibilities on issuers.

Meanwhile, Coinbase is promoting the concept of everything on-chain, which they believe will increase actual costs.

4. Some provisions in the bill are interpreted as expanding the U.S. government’s regulatory or data access scope over DeFi.

This could restrict entrepreneurs’ freedom and increase government power over blockchain.

Therefore, Armstrong essentially rejects the core of the entire CLARITY bill. The review has now been canceled, which might disappoint the market in the short term, but could be beneficial for the industry in the long run.

Recently, a large part of BTC’s rise was due to expectations around CLARITY. With the delay, short-term uncertainty has increased.

However, this is not a major bearish factor, and the bill is expected to undergo further modifications.

On-chain data shows that recent days have mainly seen short-term investors selling, but BTC’s chip structure remains stable, with early investors not under much selling pressure.

The Bitcoin spot ETF has also seen continuous net inflows for three days, with $843 million flowing in on January 14, indicating that U.S. investor sentiment is still good. Monitoring whether capital inflows will continue to grow is worthwhile.

ETH spot ETF has also seen a net inflow of $175 million over three days.

Bitmine recently spent $80.57 million to buy 24,068 ETH, and they are also continuously staking ETH. Currently, they have staked over 1.7 million ETH, accounting for about 40% of their total ETH holdings.

However, there are also Ethereum whales selling ETH. Recently, one deposited 13,083 ETH into Gemini, and currently holds 34,616 ETH worth $115 million.

Wooden Sister tweeted yesterday that the U.S. stock market might enter another golden era in the next three years. The “golden three years” of U.S. stocks could just be the first half of Bitcoin’s cycle.

This is mainly because AI has improved productivity, and policies are turning friendly, leading to good days for both the stock and crypto markets.

Asset management firm VanEck also released its Q1 2026 global market outlook.

They believe the current market environment has become clearer due to more explicit fiscal and monetary policy signals. Cryptocurrencies are long-term bullish, and gold demand remains strong.