Friday's tariff ruling became a suspenseful event. The Supreme Court did not issue the decision on Trump's global tariffs as scheduled; instead, it only released an unrelated opinion, plunging the market into extreme uncertainty. In the prediction market, traders began to worry that the ruling might find the president exceeded his authority, risking a sharp shock for the dollar, and safe-haven funds immediately withdrew from high-risk positions.

This anxiety directly hit the pain point of options expiration. BTC suddenly dropped sharply in the early hours, briefly breaking through the $88,600 mark, causing over 100,000 traders online to lose their entire capital, with a single-day liquidation scale reaching $120 million. But the rebound came quickly—before the US stock market closed, institutional buying resumed, and BTC regained the $91,000 level, then entered a low-level sideways consolidation with a downward trend.

Interestingly, a major exchange announced a big move at this time: officially launching gold and silver perpetual contracts (USDT settled) under the Abu Dhabi compliance framework, directly enabling leveraged trading with spot commodities. This is the first time mainstream trading platforms have delved so deeply into the traditional bulk commodities sector, and by 2026, the boundary between crypto and traditional finance seems truly to be disappearing.

Solana was not idle either. The official announcement stated that 2 billion SKR tokens would be airdropped to pre-order users of the second-generation phone, scheduled for January 20. This news is somewhat reassuring—the SOL price held firm at $135 during the overall market correction, becoming one of the few assets with defensive qualities.

At the institutional level, optimism is even greater. JPMorgan's latest report indicates that this year will be the year when "institutional asset tokenization" truly takes off. As institutional-grade public chains like Canton Network gradually improve, the market cap of tokenized assets is expected to triple. The report emphasizes that the current turbulence actually reflects a transitional pain from "meme speculation" to "application infrastructure."

The last disruptor is the AI sector. OpenAI's proxy "Operator" demonstrated the ability to execute complex on-chain transactions during the public beta, a technological breakthrough that drove WLD and the entire AI sector to rise an average of 8% against the macro downturn. The market is pricing in the real-world application of "AI + Crypto," and this round of rebound is actually a reassessment of the application prospects.