.Cointelegraph Magazine – “Hodler’s Digest” (January 11 – 17)

Hodler’s Digest – January 11‑17, 2026
Cointelegraph Magazine’s weekly roundup of the most consequential crypto‑related headlines, market data and commentary.

1. Executive Summary

The past week was dominated by a blend of corporate positioning, regulatory scrutiny and market‑structure debate. Strategy’s Michael Saylor defended the growing practice of corporate Bitcoin treasuries, while Goldman Sachs’ chief executive David Solomon warned that the U.S. Digital Asset Market Clarity (CLARITY) Act remains a ways from enactment. In Washington, three Democratic representatives pressed the SEC for clarification on a dozen paused enforcement actions, including the case against Tron founder Justin Sun. Meanwhile, the Zcash Foundation announced that the SEC has closed its 2023 privacy‑coin investigation without pursuing enforcement. Market‑maker Wintermute warned that a “structural shift” in 2025 may dictate whether crypto can rally in 2026.

On the price side, Bitcoin hovered near $95 k, Ether at $3.3 k and the total crypto market cap settled around $3.23 trillion. Altcoins displayed a stark divergence: Dash, Monero and Story posted double‑digit gains, while Lighter, XDC Network and Polygon suffered notable declines.

2. Top Stories in Detail

a. Corporate Bitcoin Treasuries – Michael Saylor’s Counter‑argument

On the What Bitcoin Did podcast, Strategy’s executive chairman Michael Saylor rebuffed criticism aimed at firms that allocate excess cash to Bitcoin rather than traditional treasury holdings or shareholder returns. He argued that the decision is fundamentally a capital‑allocation question and that the size or profitability of a company does not change the underlying economics of holding BTC. Saylor also suggested that Bitcoin can act as a buffer for firms with weak operating results, positioning the digital asset as a pseudo‑earnings stabiliser.

Takeaway: Expect continued advocacy for corporate BTC balances, particularly from executives who view the asset as a hedge against cash‑drag and a means to improve balance‑sheet efficiency.

b. CLARITY Act Still a Long‑Term Project – Goldman Sachs’ View

David Solomon, CEO of Goldman Sachs, disclosed that the firm’s senior leadership is intensely monitoring the CLARITY Act, given its potential impact on tokenisation, stablecoins and broader market infrastructure. The bill’s latest markup was postponed after Coinbase withdrew its support, further delaying legislative momentum.

Takeaway: Institutional players remain vigilant about U.S. regulatory clarity. The postponement signals a near‑term policy vacuum that could incentivise firms to seek jurisdictional alternatives or adopt a “wait‑and‑see” stance on U.S.‑centric crypto products.

c. Congressional Pressure on the SEC – The Justin Sun Inquiry

Representatives Maxine Waters, Brad Sherman and Sean Casten sent a formal request to SEC Chair Paul Atkins, demanding details on at least twelve crypto enforcement files that have been paused or dismissed, among them the investigation involving Tron founder Justin Sun. The lawmakers highlighted concerns about the agency’s prioritisation, noting that high‑profile exchanges such as Binance, Coinbase and Kraken have also seen cases dropped.

Takeaway: Legislative oversight of the SEC’s crypto enforcement agenda is intensifying. Persistent pressure could compel the agency to adopt clearer criteria for case selection, potentially reshaping the enforcement landscape.

d. Zcash Foundation Announces Closure of SEC Probe

The Zcash Foundation confirmed that the SEC concluded its 2023 review of certain Zcash‑related token offerings without recommending any enforcement actions. The foundation framed the outcome as validation of its compliance efforts and pledged to continue advancing privacy‑focused financial infrastructure.

Takeaway: The decision sends a cautious signal that privacy‑centric projects can navigate U.S. regulatory scrutiny if they maintain transparent and compliant token‑sale practices.

e. Wintermute’s Outlook: 2026 Depends on Three Key Variables

In its latest OTC market review, market‑maker Wintermute observed that the traditional “recycling” effect—where Bitcoin gains cascade into altcoins—disappeared in 2025. Liquidity is now concentrated in a handful of large‑cap assets, driven primarily by institutional inflows and Bitcoin‑linked ETFs. The firm identified three uncertain outcomes that will shape a potential 2026 resurgence: (1) broader institutional risk appetite, (2) diversification of capital into mid‑tier altcoins, and (3) macro‑economic conditions that expand dollar liquidity.

Takeaway: A fragmented market may persist unless new capital sources emerge or policy changes stimulate broader participation across the crypto ecosystem.

3. Market Snapshot

• Total crypto market cap: $3.23 trillion (CoinMarketCap).
• Top three weekly altcoin gainers (100‑coin universe):
  1. Dash (DASH) – +123.2 %
  2. Monero (XMR) – +35.4 %
  3. Story (IP) – +34.7 %
• Top three weekly altcoin losers:
  1. Lighter (LIT) – –34.6 %
  2. XDC Network (XDC) – –8.5 %
  3. Polygon (POL) – –8.5 %

Analysis: Bitcoin’s price stability near the $95 k threshold has kept short‑term holders in breakeven territory, a key technical level cited by analysts as a catalyst for renewed momentum. Meanwhile, the pronounced divergence between high‑performing privacy‑coins and lagging network tokens underscores the “liquidity concentration” Wintermute flagged.

4. Notable Quotations

• Patrick Witt (US President’s Council of Advisors for Digital Assets): Confirmed that seized digital assets tied to the Samourai Wallet case remain unreleased, emphasizing ongoing DOJ oversight.
• Michael Saylor (Strategy): “You somehow think it’s OK for 400 million companies not to buy Bitcoin… and you’ll single out the 200 that do.”
• Arthur Hayes (BitMEX): Warned that Bitcoin’s recovery depends on broader dollar‑liquidity expansion, given the relative “juice” in gold and the Nasdaq.
• Chris Dixon (a16z Crypto): Called for swift legislative progress on the CLARITY Act to preserve the U.S. as a leading crypto‑building jurisdiction.

These statements reflect the spectrum of optimism and caution that continues to shape industry narratives.

5. Forecasts & Predictions

• Bitcoin’s Near‑Term Target: Analysts at Glassnode highlighted the $98 k “short‑term holder” cost‑basis as a decisive inflection point. Breaching this level could trigger a “run‑up” toward the $113 k classic chart target many traders cite for a strong rally.
• Altcoin Landscape: Wintermute’s analysis suggests the 2026 “comeback” will be contingent on the re‑emergence of capital flow into midsized assets—a scenario that remains uncertain given the current concentration in Bitcoin‑centric ETFs.

6. Sources of Market‑Related FUD

• Quantum‑Computing Risk: Jefferies’ “Greed & Fear” strategist Christopher Wood removed Bitcoin from his model portfolio, substituting it with physical gold and mining equities due to fears that quantum breakthroughs could jeopardise Bitcoin’s cryptographic security.
• Regulatory Access in South Korea: Google’s upcoming Play Store policy will require crypto‑app developers to upload proof of registration with the local Financial Intelligence Unit. Failure to comply could effectively block foreign exchanges from the South Korean market.
• Polygon Layoffs: Following a $250 million acquisition of Coinme and Sequence, Polygon Labs announced a workforce reduction—estimated at up to 30 %—as it pivots toward a payments‑first, stablecoin‑centric strategy.

Takeaway: While some concerns (e.g., quantum risk) remain speculative, regulatory tightening in key jurisdictions like South Korea could materially affect user acquisition for offshore platforms.

7. Highlights from Cointelegraph Magazine

• UAE Crypto Magnetism: A feature dissected why Dubai and Abu Dhabi are positioning themselves as the next global hubs for crypto wealth and enterprise.
• Willy Woo’s Bullish Outlook: The on‑chain analyst reiterated confidence in Bitcoin’s short‑term trajectory, juxtaposed with a divergent view on XRP’s regulatory clarity.
• AI‑Related Legal Friction: An investigative piece examined the burgeoning litigation surrounding generative‑AI tools, signaling broader legal challenges that may spill over into crypto‑related tech.

8. Key Takeaways

1. Corporate BTC Adoption Remains a Strategic Debate: Executives like Michael Saylor are championing treasury Bitcoin, while critics question the prudence of allocating cash to a volatile asset.
2. Regulatory Uncertainty Persists: The CLARITY Act’s delay, combined with congressional pressure on the SEC, underscores a fragmented U.S. policy environment that could drive firms toward alternative jurisdictions.
3. Market Structure Is Evolving: Concentrated liquidity in a few large‑cap assets, as observed by Wintermute, may suppress the traditional altcoin “recycling” cycle, making the next rally dependent on broader capital diversification.
4. Price Drivers Are Technical and Macro‑Fundamental: Bitcoin’s proximity to the $98 k holder cost‑basis is a critical catalyst; however, macro‑liquidity conditions (e.g., dollar supply) will likely dictate the sustainability of any upside.
5. FUD Remains Multifaceted: From speculative quantum threats to concrete regulatory roadblocks in South Korea, market participants must parse out actionable risk from hyperbole.

Prepared by the editorial team at Cointelegraph Magazine.

Source: https://cointelegraph.com/magazine/michael-saylor-bitcoin-treasury-company-us-clarity-act-zcash-hodlers-digest/?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound