It has been a high-tension day for the crypto market, marked by a significant price "flash crash" and a viral confrontation between two of the industry's biggest power players.
Here is the big news for Saturday, January 31, 2026:
1. The Bitcoin "Flash Crash" & Recovery
The market was rocked late Thursday and early Friday by a sudden plunge.
The Drop: Bitcoin (BTC) tumbled as low as $81,000, sparking a massive $1.75 billion in liquidations across the market.
The Rebound: As of today, prices have stabilized. Bitcoin is currently trading near $84,000, showing a modest 1.25% recovery over the last 24 hours.
Altcoin Performance: While the market is in a "consolidation" phase, some assets are defying the slump. Notcoin (NOT) and Stacks (STX) are among the top gainers, up roughly 4.8% and 2.5% respectively.
2. The "Davos Confrontation" Goes Viral
A heated exchange at the World Economic Forum in Davos is the talk of the industry. Reportedly, JPMorgan CEO Jamie Dimon and Coinbase CEO Brian Armstrong had a direct confrontation over a cup of coffee.
The Conflict: Dimon allegedly told Armstrong to "stop lying on TV" regarding accusations that big banks are sabotaging crypto legislation.
The Context: This highlights the "Main Street vs. Wall Street" rift as crypto moves further into consumer finance, with banks fearing competition from stablecoins.
3. Tether’s Massive Gold Pivot
Tether (the issuer of USDT) is making waves by shifting its reserves into physical gold. The company has reportedly amassed a "massive metal hoard" in Swiss bunkers, signaling that even the biggest crypto players are looking for "OG" inflation hedges amid global economic uncertainty.
4. Regulatory Shifts & India’s Budget 2026
United States: Under the current administration, the SEC is pivoting away from "regulation by enforcement." New guidance is expected to clarify the GENIUS Act, aiming to make the U.S. the "crypto capital of the world."
