Daily Report 2026.1.8

In the past two days, both the US stock market and Bitcoin have experienced slight pullbacks, with BTC's correction being more pronounced.

BTC has a greater impact on market liquidity and sentiment. Due to its size, it cannot compare to leading US stocks, and large fluctuations are inevitable.

When it falls, it drops first, but when it rises, it does so more sharply. For example, on Monday, Bitcoin significantly outperformed US stocks in gains.

Therefore, the market's key focus remains on the Federal Reserve's monetary policy.

On Friday, the US will release the latest non-farm payrolls and unemployment rate data, which are likely to meet or slightly exceed market expectations.

Trump may announce the new Federal Reserve Chair at any time in January, which will directly influence market expectations for future rate cuts.

On-chain data shows that BTC's turnover rate is very high, indicating investor sentiment is unstable.

In terms of chip structure, short-term investors are reacting more strongly. Those short-term profit-taking positions that were previously on the sidelines are also showing signs of significant turnover.

The key now is whether the US stock market has stopped falling and whether BTC can hold steady at $90,000. If BTC drops below $90,000, it is likely to oscillate around $88,000.

However, recently, several new whales have entered the market to accumulate Bitcoin, which is a positive sign for 2026.

From a capital perspective, overall, there is still net inflow, with total funds increasing by $400 million.

Among them, USDC inflowed $113 million, indicating improved sentiment among US investors.

At 11 PM Beijing time on Friday, the US Supreme Court will hold a hearing day. This is their first formal procedure to address the legality of Trump's global tariffs, and a ruling may be issued directly.

If Trump's tariffs are deemed illegal, it remains to be seen whether he will come up with new tricks. This will directly impact market sentiment, and short-term volatility could be significant.