Preface
Bitcoin and Ethereum have fallen by 2.12% and 2.16% in the past 24 hours, with current prices at $95,052 and $3,338, respectively. The ETH/BTC exchange rate stands at 0.035. The Crypto Fear & Greed Index is at 78, indicating greed.

Market Trending

The market continues to decline after yesterday’s sharp drop. Bitcoin fell to a low of $92,549, and altcoins followed suit, with most falling over 5%. Ethereum, after additional purchases by the Ethereum Foundation, hit a low of $3,208, and mainstream DeFi tokens were severely impacted, showing significant losses.
U.S. job data was released, and the JOLTS report from the U.S. Department of Labor revealed 8.1 million job vacancies, far exceeding the expected 7.74 million. The unexpected strength in U.S. employment data led to a general risk-off sentiment in the market, triggering sell-offs in risk assets. Bitcoin spot ETF inflows dropped significantly by 94%. Macroeconomic uncertainty has dampened the post-election rally in crypto, but upcoming decisions from the Federal Open Market Committee (FOMC) and Non-Farm Payroll (NFP) data releases will greatly influence Bitcoin’s price trajectory. The recent Bitcoin pullback might be setting the stage for a post-Trump inauguration bull market rebound.
AI Sector: AI tokens also followed the general market decline, with SWARMS dropping more than 35% today, currently priced at $0.3621; ARC fell by more than 20%, priced at $0.3840; GOAT, FARTCOIN, ELIZA, and other mainstream tokens dropped by over 10%. Although the AI sector tokens haven’t escaped the downturn, the sector remains hot, and emerging force MAX has surged against the trend for three consecutive days, now surpassing a market cap of $168 million.

Spot Bitcoin ETF Flows

Yesterday, the U.S. Bitcoin spot ETF saw a net inflow of $978.29 million, while IBIT had a net outflow of $124.28 million, FBTC saw a net outflow of $258.69 million, and GBTC had a net outflow of $8.94 million.
Check Out the Latest Prices, Charts, and Data of BTC/USDT Spot and BTCUSDT Perp!

Daily Spotlight

Today’s spotlight is GAS, with a 24-hour price increase of 24.29%.
Gas (GAS) is one of the native tokens of the Neo network. Neo uses blockchain technology and digital identities to digitize assets, utilizing smart contracts for automated management of digital assets, creating a “smart economy” through a distributed network. The Neo network has two built-in tokens: the governance token NEO and the utility token GAS. GAS represents the right to use the Neo blockchain, and the issuance of assets and the running and storage of smart contracts on the Neo network require a certain amount of GAS. The total supply of GAS is 100 million. Every time a new block is generated on the Neo network, the corresponding amount of GAS is produced and distributed for free to NEO holders. Holders with 10,000 NEO can receive around 3 GAS per day.
The Neo protocol is about to launch the “Escape the Matrix” event, and the increased network activity has driven up the value of GAS, making it one of the few projects to rise against the market downturn. GAS has gained 24.29% in the last 24 hours, currently priced at $5.977.
Check Out the Latest Prices, Charts, and Data of GAS/USDT Spot and GASUSDT Perp!

The Word on the Street

Outgoing CFTC Chairman Behnam pushes for cryptocurrency regulation, stating that it will take time.
On Wednesday, CFTC Chairman Rostin Behnam gave his final public speech at a Brookings Institution event in Washington, D.C., in which he discussed cryptocurrency and the need to elevate the CFTC’s role as its regulatory body. He once again called on Congress to fill the gaps in cryptocurrency regulation.
Rostin Behnam stated that cryptocurrency has “dominated every period of my tenure,” and said, “Due to the lack of federal legislation, concerns about customer protection, fraud, market abuse, wider market resilience, and even financial stability are intensifying. We have seen this before in history. We placed a large part of the financial business outside supervision and accountability, and time and again we’ve seen that the outcome is disastrous.” He also urged protection for “investors eager to include digital asset products in their portfolios.”

Project Upgrades

Ripple is currently leveraging the Chainlink standard to provide high-quality pricing data for its on-chain Ripple USD (RLUSD) stablecoin.
Ripple is adopting the Chainlink standard to enhance the usability and accessibility of its Ripple USD (RLUSD) stablecoin in DeFi. By using Chainlink’s price feeds, Ripple can now provide secure and reliable pricing data for RLUSD on the Ethereum blockchain, allowing it to be integrated into DeFi applications such as trading and lending. This partnership enables Ripple to offer high-quality off-chain data, accelerating RLUSD adoption. Chainlink’s decentralized infrastructure ensures secure, tamper-proof, and accurate pricing, supporting RLUSD’s expansion in both institutional and decentralized markets.