The crypto world is evolving at an unprecedented speed, with its boundaries expanding from mere asset trading to reshaping the core of global financial infrastructure. The wave of institutionalization has arrived, and new competitive landscapes and business models are emerging. The following is an in-depth analysis of key trends in the crypto market for 2026, based on cutting-edge industry insights.

1.21 Bitcoin has once again fallen below 90,000, Delaware Life introduces a Bitcoin index into fixed indexed annuities.

You can follow the official account Gu Jingci, which focuses on guidance and layout for mainstream coins.

1.21 Market Analysis, from 98,000 to 88,000: Key Judgments After the Structural Shift to Bearish

OKX Pay, Card, and various X assets are all infrastructure built on top of X Layer.

Phoenix: Building a native financial refinery for RWA

Solana Mobile faces the highly technical moat and user stickiness of Apple iOS and Google Android. While SKR generates significant market attention, it still needs to examine the potential challenges for its long-term development.

On January 21, 2026, at 8 AM UTC+8, Mad Lads officially announced the completion of the community snapshot and clearly stated that NFT holders would not receive the Backpack airdrop. This statement quickly became the focus of discussions within the Solana ecosystem and the broader NFT community. Prior to this, various associations surrounding the snapshot and potential tokens led many participants to focus their attention on the imaginative space of "perhaps there will be a next step," even though this expectation was never directly addressed by the official sources.

On January 21, 2026, at 8:00 AM UTC+8, **Mad Lads Official** made a clear statement regarding various rumors surrounding the potential airdrop of Backpack: the project team confirmed that the snapshot related to Backpack has been completed and clearly stated that there will be no airdrop of Backpack to Mad Lads NFT holders, now or in the future. This statement abruptly halted the ongoing speculation within the community and aligned the project team's long-term value-building self-positioning with the community's expectations of "unexpected red."

At the roundtable of the Davos Forum, EU leaders condemned the threat of tariffs as a wrong action, while a report from JPMorgan reassured the market, stating that this is merely "the art of the deal" and that an agreement will ultimately be reached. "When friends shake hands, it must mean some kind of commitment," the President of the European Commission publicly stated at the Davos World Economic Forum, emphasizing that the trade agreement reached with the United States last July must not be undermined. Her remarks directly targeted the Trump administration's opposition to European countries acquiring Greenland.

Crypto Zhongliang: Bitcoin experiences a six-day decline with increased volume, the intraday rebound continues to short!

In late January, during a period when Bitcoin and Ethereum spot ETFs had just recorded a net outflow of over $700 million in a single day, Mike Novogratz's **Galaxy Group** began to plan a new hedge fund with a scale of approximately **$100 million**. Public information shows that the fund's capital will be sourced from **family offices, high-net-worth individuals, large institutional funds, and Galaxy's own capital**, with an asset allocation strategy of "**up to 30% allocated to cryptocurrency tokens.**"

In the first quarter of 2026, Mike Novogratz's **Galaxy Group** is preparing to make a significant bet in the long-silent cryptocurrency market, with a new hedge fund targeting a size of **$100 million** entering the final preparation stage. Unlike the "purely on-chain All in" products that dominated the previous cycle, this time Galaxy has chosen a structure that is clearly more moderate and carries more political and compliance implications: approximately **30% allocated to cryptocurrency tokens**, with the remaining **