Weekly Research Recap 19 - 25 Jan 2026

Weekly Recap Research

PwC points to financial institutions' “crypto adoption” through an already irreversible point

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According to PwC's Global Crypto Regulation Report 2026, the trend towards the adoption of digital assets by large financial institutions has already passed a “point of reversibility.” This means that the involvement of banks, fund managers, payment providers and large companies is no longer limited to experimentation or profit-making from trading. Next, however, it has been directly incorporated into the financial infrastructure, from payment systems, clearing and accounting systems, cash management processes to its use as collateral assets, when these systems become part of everyday transactions. Withdrawing back to its original state prior to the introduction of crypto is very difficult, and is hardly a viable option anymore.

Meanwhile, the report also points out that crypto adoption is not happening evenly across the globe, but is mainly accelerated and driven by legal frameworks and levels of acceptance in certain regions, particularly in the United States. Approvals of regulated products like Bitcoin and Ethereum Spot ETFs have opened a clear and secure channel for institutional funding, while stablecoins are beginning to play a role in the financial system. Increasingly real, both in terms of cross-border remittances and intra-corporate payments, crypto technology is gradually shifting from a speculative tool to a fundamental component of the mainstream economic and financial system.

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Thailand Moves to a New Era of Digital Investment with Crypto ETF and Futures Regulations 2026

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Thailand is in the process of framing rules to open up the trading of crypto-based ETFs and crypto derivatives futures under the supervision of the Securities and Exchange Commission (SEC). The new regulations are expected to be announced in early 2026 to provide investors with both opportunities. Retailers and institutions can access digital assets through a more secure structure than directly holding coins. The key issue is the adoption of crypto assets under derivatives law, which will lead to the establishment of a clear legal framework for ETFs and futures on the Thailand Futures Exchange (TFEX) market, enabling activity. As for hedging and speculation in futures contracts, more concretely operates under the supervision of the public sector.

The policy landscape is part of a larger strategy to enhance the attractiveness and credibility of the Thai financial market. The SEC will set guidelines for the establishment and administration of ETFs and market makers to support liquidity in the market. At the same time, holding crypto through ETFs and derivatives is also seen as a channel. This approach reduces technical risks and the direct asset management burden on investors, thus contributing to the competitiveness of the Thai market in the Southeast Asia region, while maintaining the principles of investor protection and proper governance.

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Top Net flows

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During January 19—25, 2026, capital flows in the digital asset market clearly reflected a rollback into the mainstream network, with Ethereum peaking at around $170 million in net inflows over a 7-day period, reflecting the recovery of activity in the DeFi and Layer 2 clusters, as well as the level of investor confidence that remains in the core ecosystem, while the network Like Ink, it had an inflow of about $45 million, OP Mainnet about $25 million and Solana about $10 million. The overview suggests that the market continues to give weight to platforms that are practical and that new projects are constantly being developed, rather than Short term speculative movement

In contrast, some networks are beginning to face a profitable sell-off, most notably Hyperliquid, which had a peak outflow of about $120 million, followed by Polygon PoS with about $70 million in outflows and Base at around $20 million, reflecting the migration of funds from the platform that had surged in the previous period, back into highly liquid and disadvantageous networks. More stable, this week's overview is therefore a rebalancing of capital within the market, rather than an outflow from the crypto market as a whole, and also reflects that silver pellets are still circulating in the system to await growth opportunities in the next round.

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Fear & Greed Index

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The Crypto Fear & Greed Index is one of the tools used to assess the outlook and sentiment of the crypto market, referring to scores ranging from 0 to 100 (0 stands for Extreme Fear or Extreme Fear and 100 stands for Extreme Greed).

During January 19—25, 2026, the cryptocurrency market overview was clearly in cautious mode, with the Crypto Fear & Greed Index dropping to around 30 points, entering the Fear zone after earlier moving near the Neutral level. The pressure coincided with the weakening of the Bitcoin price from around $93,000—94,000 at the beginning of the week. It hit a low near the $88,000 level on January 21—22, prompting investors to delay the opening of new positions and choosing to hold cash or wait for more market direction assessments.

However, towards the end of the week, some signs of recovery began to be seen, with Bitcoin price moving back up in the $89,000—$90,000 range, which helped the sentiment index rise slightly. Despite remaining in the Fear zone, the overall picture reflects that the market is in a period of severe adjustment rather than a sell-off, as capital continues to circulate within the market to await factors. A new positive that will come in will determine the direction in the next phase

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Bitcoin ETF Flow

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The week of January 19—25, 2026, capital flows in the Bitcoin Spot ETF market continued to fluctuate and tilt toward the outflow side. On January 20, there was a net outflow of about $479.7 million, before the sell-off intensified on January 21, at around $708.7 million, marking a day of cash outflows. The high of the month reflects the decision of some institutional investors to reduce their risk after Bitcoin prices weakened early in the week. Even on January 22, the outflows began to slow down to around $32.2 million and the selling atmosphere began to ease somewhat.

However, cash flows have yet to return to a clear positive, with net cash outflows still at around $103.5 million on Jan. 23, suggesting that most investors are still waiting for clarity on price direction. Even if the selling force has eased relative to the previous period, the overall picture reflects that the market is in a reprieve after the previous round's rally, with the silver bullet still flowing. Leaving the crypto market as a whole, but mainly adjusting portfolios and reducing short-term risks.

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Ethereum ETF Flow

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During January 19—25, 2026, the cash flow on the Ethereum Spot ETF continued to move in a volatile manner, with continued outflows at the beginning of the week, clearly reflecting the risk reduction of institutional investors. On January 20, there was a net outflow of about $230 million, and continued on January 21, at about $287 million, before the selling force. The slowdown began on January 22, leaving cash outflows near the $42 million mark, indicating that investors are still cautious about the price direction of digital assets in the short term.

However, towards the end of the week, more signs of recovery began to be seen. On January 23, outflows dropped to around $41.7 million, before the market began to regain buying power, and on January 26, around $117 million in net inflows appeared, reflecting the return of some sentiment in the Ethereum market. An overview of the period thus suggests a correction. and short-term capital turnover, rather than long-term structural market outflows.

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Important news:

Hashed Launches New Layer-1 Ready to Support South Korean Stablecoin

Trump sues JPMorgan for cancelling customer accounts, sparking 'debanking' trend back into focus

CEO Circle looks at Stablecoin's 40% growth as the foundation of its use that everyone is contributing to

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Source:

https://etherscan.io/

https://forklog.com/en/bitcoin-falls-below-88000-amid-stock-market-decline/

https://defillama.com/protocol/hyperliquid

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Note: This analysis is provided every Monday, so some articles may have data discrepancies.

Nota: Questo analisi è situato ogni monday, quindi alcuni parti del articolo possono contengono informazioni inaccurati

WARNING: CRYPTOCURRENCIES AND DIGITAL TOKENS ARE HIGHLY RISKY. YOU MAY LOSE YOUR ENTIRE INVESTMENT. PLEASE STUDY AND INVEST ACCORDING TO THE ACCEPTABLE LEVEL OF RISK.

Thank you for following.

J.P. Daniel