2026-01-09 08:27:31

Market Briefing for January 9: The first non-farm payroll data for 2026 will be released tonight at 21:30 (expected 60,000, previous 64,000). Additionally, the stablecoin ecosystem in 2025 has experienced a major explosion—annual trading volume hit a record high of $33 trillion, with USDC performing the best.

What’s more noteworthy is the shift in institutional sentiment. JPMorgan’s latest report indicates that the wave of "de-risking" in the market last year is rapidly fading. Although there was some outflow of funds from spot ETFs of BTC and ETH at the end of 2025, this trend has now reversed. Data shows that since the beginning of 2026, funds in BTC and ETH ETFs have bottomed out and started to recover, with perpetual contracts and CME futures positions rebounding in tandem. The market selling pressure is gradually being absorbed.

Interestingly, the peak of institutional retail deleveraging in Q4 2025 seems to have completely ended. MSCI, in its upcoming index review in February, has decided to retain Bitcoin and related asset reserve companies in its index—seen as a "boost" for the market. Analysts believe that the real driver of the retreat was the October announcement regarding the MicroStrategy index adjustment, but now it appears that the major wave of systemic sell-offs has largely subsided, and the market is gradually recovering.

USDC0.02%

BTC-0.38%

ETH-0.48%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

8 Likes

Reward
8
5
Repost
Share

Comment

0/400

TokenTherapist

· 17h ago

33 trillion, how exaggerated does this number have to be to describe it... Stablecoins have really risen this time.

View OriginalReply0

DogeBachelor

· 17h ago

A stablecoin market cap of 33 trillion, it seems everyone is hoarding USDC to buy the dip, smart move.

View OriginalReply0

DefiOldTrickster

· 17h ago

What are you still researching on the night before the non-farm payrolls? Let me tell you, the trading volume of $33 trillion in stablecoins is the real story—USDC's performance is practically a textbook for arbitrage. As for the ETF bottoming out and rebounding, I sensed it early; that sell-off in October was the last struggle of the institutions, and now it's just a rebound. Remember 2017 when our old-school traders went through this cycle too? Young folks, don’t be afraid; the market recovers like this. Where are the real yield opportunities? I haven't figured that out yet. Wait, you say MSCI is maintaining its index status? That’s like a boost before the market opens. I’ve already started calculating my liquidation prices, hehe. Regarding the non-farm payroll data, we have strategies for both long and short positions. The key is whether the perpetual contracts are rebounding in open interest. With stablecoins surging so dramatically, where did you reinvest? The annualized yields on lending protocols haven't kept up. Honestly, this reversal has just begun; the time for good annualized yields has arrived. I'll enter again after the non-farm payrolls cause a dump. For now, I need to watch the liquidation prices.

View OriginalReply0

SneakyFlashloan

· 17h ago

Whoa, 33 trillion USDC trading volume, stablecoins are really taking off. This is what infrastructure should look like. Optimism for non-farm payrolls, institutions seem to be starting to accumulate. I've seen through the trend of de-risking and deleveraging early; the bottom signal is too obvious. MSCI maintaining the Bitcoin index position is telling us: institutions have never truly left, they're just pretending. What does 33 trillion mean? The total traditional financial trading volume for the year is probably around this much... The rebound from the bottom is a bit fierce; it feels like the rebound space has been unleashed. That sharp drop in Q4 feels like big players are building positions while retail investors are panicking. Now the truth is clear. USDC > USDT? That can't be right; data will tell the story. Perpetual contract positions are rebounding; are the short positions about to be wiped out? The peak of institutions and retail investors reducing positions simultaneously is ending, meaning it's time to increase positions together?

View OriginalReply0

AirdropNinja

· 17h ago

330 trillion stablecoin market size, how crazy is this number... It feels like USDC is really about to take off. Non-farm payroll data tonight, either a surge or a crash, so confusing. Has the selling pressure been digested? I’m a bit confused after reading this JPMorgan report. When will the institutions finally stabilize? Is the ETF recovery real, or are they just cutting us retail investors again? That wave of Q4 de-risking now seems like the last escape order; it should have rebounded long ago.

View OriginalReply0