The current mainstream CEX and DEX funding rate display shows that the market is fully bearish, with negative ETH rates across all platforms
**Jan 26th Crypto Update**
Per Coinglass data, Bitcoin fell to the $86,000 level early this morning, temporarily trading at $86,683.
Current funding rates across major centralized (CEX) and decentralized (DEX) exchanges show the market has fully flipped bearish: only Bitcoin’s funding rate remains positive, while Ethereum (ETH) funding rates on top platforms are all negative. Specific funding rates for major coins are available in the attached image.
**BlockBeats Note**
Funding rates are fees set by crypto exchanges to align contract prices with underlying asset values, typically for perpetual contracts. They function as a transfer between long and short traders—exchanges do not collect this fee. The goal is to adjust the cost or profit of position holders to keep contract prices near underlying asset levels.
- A 0.01% rate is the baseline.
- Rates above 0.01% signal a broadly bullish market.
- Rates below 0.005% indicate a broadly bearish market.
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In the past 12 hours, there has been a total of $583 million in liquidations across the entire network, with the majority coming from long positions.
January 26: Total crypto network liquidations hit $583 million over the past 12 hours, per Coinglass data. Long positions accounted for $553 million in liquidations, while short positions totaled just $29.89 million.
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Bitcoin drops to $86,000, Ethereum falls below $2,800, SOL drops below $120
**Jan 26 Update**
Per HTX market data:
- Bitcoin dipped to $86k earlier today, now trading at $86,364.
- Ethereum fell below $2,800, hitting an intraday low of $2,787 and currently at $2,801.
24-hour performance of leading tokens:
- SOL: $118.8 (6.65% drop)
- BNB: $863 (2.68% drop)
- ASTER: $0.6 (8.5% drop)
- DOGE: $0.119 (4.07% drop)
- ADA: $0.338 (5.42% drop)
- AXS: $2 (24.3% drop)
- SOMI: $0.25 (24.4% drop)
- 0G: $0.886 (24.2% drop)
- EUL: $1.83 (22.9% drop)
- FRAX: $0.8 (20.4% drop)
This version uses concise, conversational phrasing common in U.S. crypto updates:
- Abbreviates "January" to "Jan" (casual/quick read)
- Uses "dipped" (natural for minor declines) + "intraday low" (specific to daily trading)
- Shortens "24-hour decrease" to "24-hour drop" (more colloquial in finance briefs)
- Streamlines bullet points for scannability (no extra wording)
- Keeps price formatting consistent ($Xk for round numbers, decimal precision for smaller va
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Bitcoin Dips Below $88,000, 24-hour Change -1.47%
Bitcoin dropped below $88,000 on January 26, posting a 1.47% 24-hour decline, per HTX market data.
### Notes on American English adaptation:
1. **Core info first**: Led with "Bitcoin dropped" (action) instead of opening with date/source, aligning with U.S. news brevity (readers prioritize market moves first).
2. **Casual brevity**: Used "per" (common in U.S. financial briefs) instead of "according to"; "posting" (dynamic verb) replaces "with a" for flow.
3. **Natural phrasing**: "24-hour decline" is more idiomatic than "24-hour decrease" in U.S. market updates; date is concise without extra punctuation.
4. **Clarity**: Kept "$88,000" (no "k" for formal accuracy, though "88k" is acceptable in casual contexts—this version balances precision and readability).
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Hacker Flaunts Wealth, Once Stole Over $40 Million in On-chain Assets from US Government
**Chain Detective ZachXBT Exposes Hacker Who Stole $40M+ from U.S. Government Crypto Addresses**
On January 26, on-chain detective ZachXBT revealed that hacker John Daghita—alias “Lick”—stole over $40 million from U.S. government-seized crypto addresses, including a single $24.9 million heist.
Daghita’s father owns CMDSS, a Virginia-based firm with an active U.S. government IT contract that assists the U.S. Marshals Service in managing and disposing of seized/confiscated crypto assets. ZachXBT speculated Daghita gained access via his father, with the thefts occurring around 2024—most notably a $24.9 million haul in March 2024 from assets the U.S. government seized in the Bitfinex hack.
Daghita’s address is linked to over $90 million in on-chain stolen funds, including losses from non-U.S. government victims.
Hours after ZachXBT’s expose, CMDSS’s X account, website, and LinkedIn page were all deactivated.
The hacker’s identity was uncovered after he recently boasted about
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