Trump Signals Fed Personnel Change, Bitcoin Rally Disrupted, Market Reassesses 2026 Rate Cut Expectation
On January 17, 2026—with Bitcoin prices nearing $100,000 early that year—U.S. President Trump’s latest remarks on the Federal Reserve Chair nominee were viewed by markets as a potential "price inflection point."
Per Reuters, Trump recently told reporters at the White House that while White House economic advisor Kevin Hassett was widely expected to replace current Fed Chair Jerome Powell, he “leans more toward keeping Hassett in his current role” and views a potential reassignment as a “serious concern.” The comment quickly cooled market expectations that Hassett would take the Fed’s top job.
As a result, Hassett’s projected win probability on prediction platform Polymarket plummeted, while that of his top rival—former Fed Governor Kevin Warsh—jumped to nearly 60%.
Market analysts note that Hassett is viewed as the more dovish candidate: his Fed Chairmanship would likely boost expectations of 2026 rate cuts, supporting Bitcoin and risk assets. Warsh, by contrast, is more hawki
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If Ethereum drops below $3200, the combined long liquidation amount on major CEXs will reach $920 million
Jan. 17 (BlockBeats) — Per Coinglass data, Ethereum (ETH) has two key liquidation triggers at critical price levels:
- If ETH falls below $3,200, cumulative long liquidation intensity across major centralized exchanges (CEXs) will hit $920 million.
- Conversely, if ETH breaks above $3,400, cumulative short liquidation intensity at these same CEXs will reach $985 million.
**BlockBeats Note**: Liquidation charts do not show the exact number or value of contracts pending or under liquidation. Instead, the bars on these charts indicate the *relative importance* of each liquidation cluster compared to nearby clusters—i.e., "intensity."
In short, the chart reflects how impactful reaching a specific price level will be: Taller liquidation bars signal a more severe reaction (from a liquidity cascade) once that price is hit.
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Traditional Giants Clash With Crypto Companies as Stablecoins Reshape $900 Billion Cross-Border Payments Market
January 17th: As stablecoins gain traction in cross-border payments, the roughly $900 billion global remittance market is poised for disruption. Industry insiders note that blockchain-powered stablecoins can slash cross-border transfer costs and speed up transactions—potentially upending the traditional remittance system led by Western Union.
World Bank data shows current average cross-border remittance fees still exceed 6%, a heavy burden for low-income groups sending money to developing nations. Experts say stablecoins enable peer-to-peer transfers via digital wallets, with costs and friction far lower than traditional channels.
On the regulatory front, U.S. President Trump signed the GENIUS Act in July to establish a federal stablecoin framework, paving the way for their entry into mainstream finance. Since then, traditional players like Western Union and PayPal have launched stablecoin-related products.
Analysts note traditional remittance firms hold an edge in large-scale
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Eugene: Most shitcoin longs have exited, core Bitcoin longs still holding
On January 17, trader Eugene Ng Ah Sio shared an update in his personal channel, saying:
“I’ve closed out most of my altcoin long positions — they didn’t hit the extra returns I was targeting, so I’m locking in what’s available now. My core Bitcoin long position is still open, but I’m mostly in cash again, waiting for the next chance to deploy capital.”
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Bitcoin Withdrawal Momentum Continues, with a 24-hour CEX Net Outflow of 347.51 BTC
On January 17, Coinglass data shows total net BTC outflow from centralized exchanges (CEXs) hit 347.51 BTC over the past 24 hours.
Top three CEXs by BTC outflow:
- Kraken: 1,623.52 BTC outflow
- Bitfinex: 182.60 BTC outflow
- KuCoin: 38.78 BTC outflow
Additionally, Binance led inflows with 573.18 BTC.
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Tom Lee: Ethereum Could See 'Capitulation Event' in 2026, ETH to Reach $12K
On January 17th, Tom Lee—BitMine Chairman and Fundstrat Co-Founder—told the firm’s latest shareholder meeting that Ethereum is central to the next wave of financial infrastructure evolution, with 2026 likely marking a critical year for its full-scale breakout.
Lee noted Ethereum hit an all-time high against BTC in 2021, and that ratio is poised to exceed its prior peak by 2026 amid accelerating real-world asset tokenization and mainstream adoption by financial institutions and users. Standard Chartered also labels 2026 the “Year of Ethereum,” projecting ETH to reach $12,000.
BitMine’s business model stands to gain directly from rising ETH prices: historical correlation analysis suggests the firm’s (BMNR) stock could theoretically hit ~$500 if ETH reaches $12,000.
Moreover, BitMine benefits from ETH staking rewards and robust cash reserves. It currently holds ~4.2 million ETH and ~$1 billion in cash, with projected pre-tax income of $402M–$433M under current conditions. If ETH
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