CES 2026: What to expect from the tech industry’s biggest show of the year

Key Points

• Crypto Market Decline: The total crypto market cap dropped by $97 billion in 24 hours to $3.08 trillion, reflecting profit-taking and a cooling phase across major cryptocurrencies and altcoins.**
• Bitcoin Struggles: Bitcoin fell to $90,949 after failing to hold $93,471 as support, with a potential further decline to $90,000 or $89,241 if selling pressure continues.**
• Story (IP) Underperforms: Story (IP) saw the largest drop among highlighted tokens at 7.7%, trading near $1.97 with key support at $1.87 and potential recovery to $2.02.**
• Institutional Moves: Morgan Stanley filed for spot Ethereum ETFs with staking rewards, and Coinbase CEO Brian Armstrong defended stablecoin policies amid regulatory challenges.**
• Recovery Potential: A rebound for the total market cap to $3.16 trillion and Bitcoin to $93,471 is possible if key support levels are reclaimed and selling pressure eases.**

Summary

The cryptocurrency market is experiencing a notable downturn, with the total market cap falling by $97 billion to $3.08 trillion in just 24 hours, driven by profit-taking after recent gains. Bitcoin, a market leader, dropped to $90,949 after failing to maintain support at $93,471, risking further declines to $90,000 or lower. Story (IP) emerged as the weakest performer, declining 7.7% to $1.97, with critical support at $1.87. Meanwhile, institutional interest persists, as Morgan Stanley filed for spot Ethereum ETFs with staking rewards, and Coinbase CEO Brian Armstrong advocated for stablecoin policies amid regulatory pushback. Despite the current bearish sentiment, recovery remains possible if key support levels are reclaimed—Bitcoin at $91,511 and the total market cap at $3.09 trillion—potentially paving the way for renewed bullish momentum. However, sustained selling pressure could deepen short-term volatility across the market.

Key Points

• Bitcoin Decline: Bitcoin dropped below $90,000 on Thursday, falling about 2% in 24 hours, though it remains up over 3% for the week.**
• Ether and Other Cryptos: Ether slipped 3% on the day but is up 6% weekly, while XRP fell 4.5% in 24 hours (still up 17% weekly) and Dogecoin gained 22% over the week.**
• ETF Outflows: U.S. spot bitcoin ETFs experienced over $486 million in outflows, marking their second consecutive day of losses this year.**
• Macro Influence: A rally in global bonds and expectations of Federal Reserve rate cuts support risk assets like crypto, despite weak U.S. economic data.**
• Market Sensitivity: Crypto remains tied to bitcoin sentiment and vulnerable to shifts in traditional market flows or liquidity.**

Summary

Bitcoin fell below $90,000 on Thursday, cooling off from an early-January rebound with a 2% drop over 24 hours, though it retains a 3% weekly gain. Ether also declined 3% daily but is up 6% for the week, while XRP lost 4.5% in a day (still up 17% weekly) and Dogecoin led with a 22% weekly surge, per CoinGecko data. U.S. spot bitcoin ETFs saw significant outflows of over $486 million, marking consecutive daily losses for the first time this year. Meanwhile, broader market dynamics, including a rally in global bonds and declining U.S. 10-year yields to 4.14%, bolster expectations of Federal Reserve rate cuts, which typically favor risk assets like crypto. Weak economic data, such as a December private-sector payroll increase of 41,000 against a forecast of 50,000, further fuels these bets. Analysts at B2BINPAY highlight macroeconomics as a key driver, noting crypto’s reliance on bitcoin sentiment. Despite supportive tailwinds like improving liquidity and a steadier policy outlook, Thursday’s pullback signals caution among traders, with crypto’s rebound vulnerable to shifts in traditional markets or bitcoin dominance.

Key Points

• Venezuela claims to have the world's largest crude oil reserves, estimated at 300 billion barrels, though this figure is self-reported and unverified by independent experts.
• Historically, Venezuela's reserves were reported at around 100 billion barrels until a reclassification in 2013 by the state-run PDVSA, despite flat production levels.
• Experts suggest a more realistic reserve estimate is closer to 100-110 billion barrels due to low recovery rates and lack of audits.
• Venezuela's oil industry has declined due to corruption, mismanagement, and infrastructure issues, requiring significant investment (estimated at $180 billion by 2040) to revive production.
• The heavy, sulfurous nature of Venezuelan oil makes extraction and refining more complex and costly, posing challenges for potential investors.

Summary

Venezuela, despite exporting less than 1% of global oil, remains a focal point in the energy market due to its claim of possessing the world's largest crude oil reserves, estimated at 300 billion barrels. This self-reported figure, published by OPEC but not independently verified, contrasts with expert estimates of 100-110 billion barrels due to low recovery rates. Historically, reserves were reported at 100 billion until a 2013 reclassification by state-run PDVSA, even as production stagnated. The country's oil industry has crumbled under corruption, mismanagement, and infrastructure neglect, particularly in the Orinoco Heavy Oil Belt, requiring an estimated $180 billion by 2040 to restore past production levels of 3 million barrels per day. The heavy, sulfurous nature of Venezuelan oil adds complexity and cost to extraction and refining, deterring investment. Current low oil prices (Brent crude around $60 per barrel) and the global market's lack of need for new barrels further diminish interest from major oil companies, including Chevron, the only consistent US operator in Venezuela. Despite geological potential, political and financial challenges, alongside a push for capital discipline among US oil majors, make revitalizing Venezuela's oil sector a daunting task, even with US government encouragement for investment.