In the past hour, total liquidations across the network reached $10.84 million, with $2.60 million from long positions, with $8.23 million from short positions. BTC liquidation $182,811.35, ETH liquidation $474,358.89.

According to Huoxun Finance on January 29, OKX market data shows that BTC has just fallen below $89,000 and is currently trading at $88,973.20 per coin, down 0.57% on the day.

In the past hour, total liquidations across the network reached $20.35 million, with $17.75 million from long positions, with $2.60 million from short positions. BTC liquidation $13.94 million, ETH liquidation $1.88 million.

According to CME's "FedWatch," the probability of the Federal Reserve cutting interest rates by 25 basis points by March is 11.9% (15.5% before the meeting), the probability of keeping rates unchanged is 88.1% (84.2% before the meeting), and the probability of a cumulative rate cut of 50 basis points is 0.1% (0.4% before the meeting). By April, the probability of the Federal Reserve cutting rates by a cumulative 25 basis points is 24.5%, the probability of keeping rates unchanged is 73.5%, and the probability of a cumulative rate cut of 50 basis points is 2%.

According to a Reuters report, the White House plans to host a closed-door meeting next week with senior executives from the banking and crypto industries to discuss the stalled digital asset legislation in the Senate. Sources indicate the meeting will be led by the White House Crypto Affairs Committee. The report notes that the core issue will focus on the regulatory treatment of stablecoin rewards, a major point of contention in the Senate Banking Committee's legislative process. Tensions between the banking industry and crypto companies over this issue have escalated in recent months. The previously passed GENIUS Stablecoin Framework Act prohibits stablecoin issuers from directly paying interest to holders, but leaves room for third-party platforms, including Coinbase, to provide reward mechanisms, drawing opposition from banking lobbying groups. The Blockchain Association has confirmed its participation in the meeting. Its CEO, Summer Mersinger, stated that Congress has an opportunity at this juncture to push for a stable, bipartisan regulatory framework that protects consumers while promoting responsible innovation and ensuring the United States maintains its global leadership in next-generation financial and internet technologies.