January 5th Commute Podcast — Bitcoin Recovers to $91,000… Long Liquidations Dominate, PwC Enters Cryptocurrency

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On January 5, 2026, the cryptocurrency market saw Bitcoin recover to the $91,000 level, but remained slightly below the $91,000 mark as of press time. While most major altcoins, including Ethereum, rose, forming a bullish trend, the DeFi market showed a downward trend, sending mixed signals.

Bitcoin rose 1.18% from the previous day to $91,123.81, while Ethereum rose 0.71% to $3,132.77. Dogecoin (5.78%), Ripple (3.82%), Cardano (2.55%), Solana (1.33%), BNB (1.77%), and Tron (0.26%) also rose. The total cryptocurrency market capitalization was $3.11 trillion, with Bitcoin holding a 58.49% share and Ethereum holding a 12.15% share.

The total cryptocurrency trading volume over the past 24 hours was $81.19 billion, with stablecoin trading volume reaching $77.647 billion, an 11.98% increase from the previous day. Derivatives trading volume also increased by 12.05% to $782.421 billion, indicating active responses to short-term volatility. Conversely, the DeFi market cap decreased by 2.47% to $77.231 billion, showing a contrasting trend.

On this day, approximately $123.58 million worth of leveraged positions were liquidated, the majority of which were long positions. Notably, large-scale liquidations occurred in Bitcoin ($69.51 million), Ethereum ($32.8 million), Solana ($9.48 million), Dogecoin ($8.9 million), PEPE ($6.28 million), and 1000PEPE ($6.73 million). By exchange, liquidations primarily involved short positions on Binance, while those on Bybit and OKX primarily involved long positions.

On the policy and industry front, global accounting firm PwC has announced its full-scale entry into the cryptocurrency ecosystem. The head of its US branch cited the Trump administration's cryptocurrency-friendly policies and deregulatory stance as a key factor. El Salvador has been purchasing Bitcoin daily since 2026, and the Venezuelan opposition is considering making Bitcoin a legal tender after a change in government. The Ethereum Foundation director emphasized that a developer-friendly structure is key to Ethereum's growth.

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