Weekly Market Commentary - Jan 2, 2026
Major stories:
BTC/USD is currently trading higher at $90,500 and ETH/USD is trading at $3,090. Weekly U.S. initial jobless claims fell more than expected for the last week of the year. December Fed minutes noted tightening money market conditions and the Fed is still likely to leave rates unchanged at its January 28 meeting, according to CME FedWatch.
Trading Update:
Funding rates on perpetual swaps are around 5% annualized. BTC futures are trading at an annualized basis of 4% on OKX and Binance and 6% on CME. ETH futures are trading at an annualized basis of 3% on OKX, 4% on Binance and 6% on CME. On Deribit, 3-month options implied volatility is at 43% for BTC and 62% for ETH. Through Thursday, BTC ETFs had net outflows of $12M and ETH ETFs had net outflows of $14M.
Other News:
Ethereum Layer-2 perpetuals DEX Lighter announced its native token LIT, with an immediate airdrop to early participants. Bitwise filed for 11 new ETFs tracking tokens including AAVE, ZEC and TAO, and Grayscale also filed for a TAO ETF. Tether bought 8,888.88 BTC as part of its plan to use 15% of profits to accumulate bitcoin. Metaplanet bought 4,279 BTC, Strategy bought 1,229 BTC, and Bitmine bought 44,000 ETH last week.
