The overnight crypto market can be described as a mixed bag of joy and sorrow.

BTC once surged to a yearly high of $97,924, nearly breaking the $98,000 threshold. However, the news of the unexpected delay in the review of the CLARITY Act caused a sudden shift in sentiment. The price responded by falling back and finally stabilized around $95,300 for consolidation. In terms of impact, nearly $294 million was liquidated within 24 hours, and the battle over the $95,000 psychological level was essentially a melee.

Regarding the CLARITY Act, Senate Banking Committee Chairman Tim Scott announced some disappointing news — the vote originally scheduled for January 15 has been postponed to January 27. The surface reason is Coinbase withdrew support for the current draft, but in reality, it’s because details like stablecoin yield distribution and regulatory jurisdiction weren’t finalized, requiring further negotiations among lawmakers. As a result, market policy expectations have fallen into a waiting period.

However, from the actions of institutions, the industry’s imagination continues to expand. CME announced plans to add futures products for ADA and LINK, meaning even "second-tier" projects are beginning to gain official investment channels from mainstream financial institutions. Meanwhile, at the shareholder meeting in Las Vegas, Sam Altman and Vitalik Buterin appeared together, discussing deep collaboration between AI infrastructure and Ethereum — what does this reflect? The boundaries between traditional tech and the blockchain world are becoming blurred.

JPMorgan’s latest report signals a huge trend: by 2025, institutional inflows into the crypto market could reach $130 billion, doubling previous highs. Analysts predict that 2026 will be a turning point where enterprises start to treat crypto assets as a "second reserve asset," especially as the Federal Reserve’s inflation targets gradually stabilize.

During this cycle, traditional brokerages like Interactive Brokers are also taking action. They announced support for 24/7 USDC deposits and withdrawals starting this week, and next week will add RLUSD and PayPal stablecoins. The speed of integration between traditional finance systems and on-chain assets is indeed accelerating — the migration from fiat to digital native assets is no longer just a slogan.