Bitcoin fell 3% to $88,200 on Tuesday as broader market selling pressure liquidated over $1 billion in long positions. Ethereum dropped 6% to $2,905, while Solana fell 2% to $127. Both BTC and SOL broke below key technical support levels during the selloff.
MYX and ZRO led gainers, rising 11% and 10% respectively, as most major cryptos traded red.
Institutional adoption accelerated despite price weakness. Delaware Life added Bitcoin exposure to a fixed indexed annuity linked to BlackRock's spot BTC ETF, marking one of the first moves integrating crypto into traditional insurance products. Trump Media announced plans to airdrop crypto tokens to shareholders in February, tying token distribution directly to equity ownership for the first time.
Coinbase CEO Brian Armstrong attended Davos to advocate for a "win-win" regulatory framework for U.S. crypto markets, signaling industry push for clearer policy. The moves highlight diverging trends: retail liquidations driving price declines against institutional infrastructure expansion and regulatory engagement efforts.