Market Update - Saturday, January 31

- Gold and silver prices are cooling down, while Bitcoin has risen to $84,000. Altcoins remain stagnant as Bitcoin dominance increases to 59.7%.

- The U.S. Congress has reached a budget agreement to reopen the government, but partial shutdown will continue until February 2 for a House vote.

- U.S. Producer Price Index (PPI) for December increased by 3%, exceeding the forecast of 2.7%. Inflation is expected to decrease to 3% in 2025, down from 3.5% in 2024.

ETF Spot Update as of January 30:
- Bitcoin is up by $15.6 million; BlackRock has not provided data.
- Ethereum is down by $95.7 million; BlackRock has not provided data.
- Solana is down by $1.2 million.

- Donald Trump has officially nominated Kevin Warsh for the next term as Federal Reserve Chair.

- The European Union has notified 12 member states for non-compliance with crypto tax reporting regulations, giving them two months to rectify the situation.

- Polymarket has been banned in Vietnam, classified as gambling. Users attempting to access the platform will be recorded and penalized.

- Nubank, the leading digital bank in Latin America, has received approval to open a branch in the U.S. and plans to offer crypto custody services.

- Tether reported a net profit of over $10 billion for 2025, holding $122 billion in U.S. bonds, $17.4 billion in gold, and $8.4 billion in Bitcoin. USDT has reached a record market capitalization of $186 billion.