Crypto Market News Today, January 3: Bitcoin Dominance Drops Under 60% as Whale Opened Big Ethereum Long, Betting on Price Pump

Ben Graham · January 3

Just as we talked about why crypto could pump big this 2026 yesterday, Bitcoin price pushed up toward $90,000, while alts like Ethereum and XRP outperformed as BTC dominance slips under 60%. This somehow caught us off guard, especially after weeks of bearish sentiment heading into January.

Refusing a breakdown, the market is running higher. Bitcoin jumped with 1% price gain, Ethereum with around 3%, and altcoins followed. XRP rallied close to 6%, easily beating major alts’ daily gains, and sentiment flipped a little after yesterday’s options expiry cleared the board.

Crypto Fear and Greed Index

Last updated: Jan 03, 2026

37.37 Fear

Market Sentiment

Now 37.37 Fear

Yesterday 36.61 Fear

Last week 33.26 Fear

Bitcoin Dominance and Price Steady as Rotation Begins

At around 59%, Bitcoin dominance shows a start of a heavy rotation, just like popping popcorn. Capital is moving, Bitcoin price remains elevated, blasting $90,000, as we track a CME gap above the resistance level, which has a strong historical tendency to get filled.

(source – BTC USD, CME gap, TradingView)

Despite dominance slipping, Bitcoin stays resilient. On a weekly basis, it climbed by 2.5%, while the winner of last year, gold, slid more than 4% after peaking near $4,550. That divergence is the perfect example of rotation narrative as some capital is shifting from traditional hedges toward digital assets.

Liquidity conditions also helped. The Federal Reserve injected nearly $19.5 billion through repo operations, one of the largest such moves since the Covid era. These injections might not grab headlines, but they support risk assets in the background, as can be seen in Bitcoin price action.

BREAKING: Fed just pumped another $19.5 Billion into the U.S. Banking System through overnight repos.

Something big is going on in the background. pic.twitter.com/rxcKOTJxtS

— Ash Crypto (@AshCrypto) January 2, 2026

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Ethereum Price Takes the Spotlight as Whale Places Massive Bet

A single whale (whom the community called an insider whale with a good hit rate) opened long positions worth more than $600 million in ETH, far outweighing exposure to Bitcoin price and Solana combined. The scale alone raised eyebrows, but the timing was perfect, as usual. With over 203,000 ETH in play, the bet implies expectations of further upside.

(source- Hyperliquid)

The Ethereum price held above $3,100, supported by good volume and volatility. ETH is leading this transition phase and benefited first from the market as Bitcoin dominance drifts lower. XRP followed with solid gains, and the altcoins’ market showed signs of life yet again.

Macro signals, British stocks, and what comes next

Away from the price action, what is happening in the macro structure is also worth watching. British stocks outperformed US markets since Donald Trump returned to office, challenging assumptions that American equities would immediately bump. UK indices have shown steadier strength, while US stocks have lagged despite policy optimism, as reported by BBC. Is Trump really the president we need in crypto?

Crypto continues to move on its own rhythm. Bitcoin dominance under 60% historically bullish, and if it slips further with its price, it can stay above key levels. Ethereum may lead the awaited altcoin season.

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