On January 7, 2026, the cryptocurrency market continued its short-term correction, with Bitcoin falling to $92,048.77 and Ethereum also slightly declining to $3,220.80. Most major Altcoin trended downwards, with Ripple down 2.11%, Solana down 0.55%, and Dogecoin down 3.84%.
The total market capitalization of cryptocurrencies reached $3,156.1 billion, with Bitcoin's share falling to 58.25%, a decrease of 0.42 percentage points. Ethereum's share rose slightly to 12.32%. 24-hour trading volume reached $136.4 billion, indicating continued active market trading.
It's worth noting that leveraged liquidations totaled a staggering $401.99 million, with approximately 88% of those being long positions. Bitcoin liquidations amounted to $146.39 million, Ethereum liquidations to $125.88 million, and Ripple and Solana each saw approximately $40 million in liquidations. Long positions dominated the major exchanges such as Hyperliquid, Binance, and Bybit.
Despite market volatility, the total market capitalization of DeFi still grew by 9.28% to $78.8 billion, while the stablecoin market also expanded by over 10% to $287.2 billion. Derivatives trading volume reached $1.3747 trillion, up 2.62%, indicating active position adjustments within the market.
On the other hand, VanEck's ETF operator launched ETF products tracking stablecoins and tokenized indices, and Coinbase announced the launch of spot trading for the BREV token. Domestic cryptocurrency policy regulations and technological issues in the United States also have a combined impact on the market. Discussions in the US Senate regarding the cryptocurrency market structure bill and the reduction in Ethereum staking withdrawal queues all suggest that institutional funds may be flowing back into the market.
