Bitcoin Derivatives Enter a New Phase as Options Take the Lead
Welcome to the Daily for January 20, 2026. ☕️
Hello Cointribe! 🚀
Stay in the loop this Tuesday! 👋 January 20, 2026—top news and updates from the last 24 hours.
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡 Weather:
☁️ Cloudy
24h crypto recap! ⏱
🏦 Scaramucci Warns Stablecoin Yield Ban Could Undermine the Dollar
Anthony Scaramucci cautions that banning yields on stablecoins in the U.S. could weaken the dollar’s global position. He argues that yield-bearing digital dollars help reinforce demand for USD-linked assets worldwide. Restricting them, he says, risks pushing innovation and liquidity offshore while rival currencies explore more flexible digital strategies.
⚖️ MiCA Deadline Nears as Binance and Dozens of Firms Still Unlicensed
With less than a year before MiCA rules fully apply, Binance and 89 crypto firms still lack authorization in the EU. The slow pace of approvals highlights regulatory complexity and uneven national enforcement. The situation raises questions about market access, compliance readiness, and potential disruptions ahead of the deadline
💹 Standard Chartered Sees 2026 as a Turning Point for Ethereum
Standard Chartered identifies 2026 as a pivotal year for Ethereum, citing network upgrades and evolving use cases. The bank highlights scaling improvements and institutional adoption as key drivers that could reshape Ethereum’s role in global finance.
🔄 Kevin Hassett Exits Fed Race as Trump Signals White House Role
Kevin Hassett has withdrawn from consideration for the Federal Reserve as Donald Trump signals a preference to keep him at the White House. The move reshapes expectations around future Fed leadership and highlights political calculations ahead of the next administration.
🌐 DeepSeek Ignites a New Global AI Race
DeepSeek, a Chinese AI system, is at the heart of renewed geopolitical competition in artificial intelligence. Its open‑source, low‑cost model DeepSeek‑R1 has rapidly gained global users and powered a surge in Chinese tech stocks, challenging Western AI dominance and pushing Beijing’s goal of tech sovereignty forward. The rise of DeepSeek highlights widening divides in AI adoption—with rapid growth in developing regions—and raises questions about whether such technology truly levels the global playing field or deepens strategic dependencies.
👉 Read the article
💎 Crypto of the Day: Axie Infinity (AXS)
🚀 Axie Infinity Surges as Breakout Signals Trend Shift
Axie Infinity (AXS) is the crypto of the day after recording a sharp rally across short time frames. The token has climbed 100% over the past seven days and added another 27% in the last 24 hours. Over the weekend, AXS briefly touched $2.491, its highest level since September, before pulling back and returning to positive territory.
📈 Technical Breakout Reshapes the Chart
From a technical standpoint, AXS has invalidated a prolonged downtrend that had limited price action for several months. The move above this descending structure was driven by strong buying pressure, confirming a change in market direction. Price is now consolidating near the $2.00 area, a sign that recent gains are being absorbed rather than rejected.
⚡ Momentum Remains Elevated
Momentum indicators continue to support the bullish case. The relative strength index is hovering near overbought levels, reflecting intense demand following the breakout. While this raises the chance of short-term consolidation, the indicator remains consistent with strong trend continuation when supported by structure.
🔑 AXS Role Within Axie Infinity
AXS functions as the core governance and utility asset within the Axie Infinity ecosystem. The token underpins decision-making, staking, and reward distribution across the blockchain-based gaming platform, which operates on Ethereum with support from the Ronin sidechain.
Overall, AXS remains technically bullish following its trendline breakout and recent price expansion. Short-term consolidation would be healthy, while continuation toward higher resistance levels remains the preferred scenario as long as key support holds.
📊 Real-time Performance (CMC)
💵 Current Price: $2.20
📉 24h Change: 27.47%
💰 Market Capitalization: $371.41M
🏅 CoinMarketCap Rank: #115
🪙 Circulating Supply: 168.24M AXS
📊 Trading Volume (24h): $607.8M
⚡ Bitcoin Derivatives Enter a New Phase as Options Take the Lead
Bitcoin’s derivatives market is undergoing a notable shift. For the first time, options have overtaken futures in open interest, pointing to a change in how traders and institutions approach risk, volatility, and market exposure.
📊 A Structural Shift in Derivatives Activity
Options open interest has climbed above futures, reflecting growing demand for instruments that allow more precise control over risk. Unlike futures, which are typically used for leveraged directional bets, options enable traders to structure positions around volatility, downside protection, or specific price ranges.
🧠 Key Things to Note
Risk Is Becoming More Defined
The rise in options suggests traders are increasingly choosing tools that cap losses and customize exposure, rather than relying solely on leverage-driven futures positions.
Volatility Is Being Traded, Not Just Price
Options activity indicates that market participants are focusing more on volatility expectations than on short-term price direction alone. This often leads to price action clustering around key expiry dates and strike levels.
Institutional Behaviour Is Influencing Market Structure
The growth of Bitcoin ETF options and regulated derivative products has attracted institutional players who favor structured strategies and predictable risk frameworks over perpetual futures.
Market Moves May Become More Technical
As options gain influence, price action can increasingly be shaped by hedging flows, gamma exposure, and expiry dynamics rather than spot-driven momentum.
🔍 What This Signals for the Market
This shift does not necessarily point to bullish or bearish intent. Instead, it reflects a maturing market where participants are managing exposure more carefully and preparing for multiple outcomes rather than betting heavily on a single direction.
As options continue to dominate derivatives positioning, Bitcoin’s price behavior may become more nuanced, with volatility management—not leverage—playing a bigger role in shaping short-term market dynamics.
