US Stock Futures Dive Further

January 17th — Per monitoring from Farside Investors, net inflows into U.S. Bitcoin spot ETFs this week totaled $1.416 billion. Key fund flows include: - BlackRock IBIT: +$1.0349 billion - Fidelity FBTC: +$1.944 billion - Bitwise BITB: +$79.6 million - ARK ARKB: +$42.5 million - Franklin EZBC: +$5.6 million - Valkyrie BRRR: +$3 million - VanEck HODL: +$24.8 million - WisdomTree BTCW: +$3 million - Grayscale GBTC: -$1.6 million - Grayscale Bitcoin Mini BTC: +$30.4 million *(Note: A likely typo in the original BlackRock figure was adjusted to $1.0349 billion to align with the stated net inflow total, as $10.349 billion would contradict the $1.416 billion net figure.)*

**January 17th** Crypto Quant analyst Axel noted that Bitcoin’s current price ($95,500) is closing in on the average cost basis for short-term holders ($99,460), with the gap between the two shrinking to just 4%. Axel explained the current scenario falls into a decision zone rather than a market pullback. Historically, areas near cost bases often see heightened volatility, acting as a reaction zone where the trend could either continue or reverse—either moving back to a premium state or facing fresh selling pressure. Two key scenarios to watch: - If Bitcoin stabilizes above $100,000 and short-term holders flip from loss to profit, they will revert to a bullish stance. - If the discount rate returns to double digits (below -10%, corresponding to a price drop to ~$89,500), it will significantly increase pressure on holders sitting on losses.

January 17 — Binance has announced the delisting of USDT-based perpetual contracts for BID, DMC, ZRC, and TANSSI, per market data. Following the announcement: - TANSSI surged 39% in the short term, with its current price still up 21% from pre-announcement levels. - ZRC plummeted over 13% shortly after, and now trades 9.5% lower than when the news broke. - DMC and BID only saw minor price fluctuations.

January 17 — Official sources confirm that Binance will delist the BIDUSDT, DMCUSDT, ZRCUSDT, and TANSSIUSDT perpetual contract trading pairs at 17:00 Beijing time on January 21, 2026. Positions in these pairs will be automatically closed and settled prior to the delisting taking effect.

On January 17, the Hong Kong Stock Exchange announced that Hong Kong-listed Convoy Global plans to enter the Web3 space strategically. The firm intends to offer software development services for blockchain exchanges and projects, while preparing to launch a proprietary trading platform. With compliance as a core goal, it will explore digital asset trading platforms, wallets, and associated technologies. Convoy Global’s core business currently focuses on biometric recognition and security software services. It will rebrand to Convoy Global by December 2025, with a current market capitalization of roughly HK$123 million.

On January 17, per Coinglass data, after nearly two days of retracement in the crypto market, current funding rates for major centralized (CEX) and decentralized (DEX) exchanges are slightly leaning bearish. Bearish sentiment toward altcoins is even more pronounced, with specific rates for top mainstream coins shown in the attached chart. **BlockBeats Note**: Funding rate is a fee set by crypto exchanges to keep contract prices aligned with underlying asset values—typically applied to perpetual contracts. It’s a mechanism for fund transfers between long and short traders; the exchange itself does not collect this fee. Its purpose is to adjust the cost or profit for traders holding contracts, ensuring contract prices stay close to the underlying asset’s price. ### Funding Rate Interpretation - 0.01% = baseline rate - >0.01% = generally bullish market sentiment - <0.005% = generally bearish market sentiment