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What happened last night in the crypto market?
• Bitcoin dropped below $92,000
• Gold reached $4,700 per ounce according to InfinityHedge
• Bitcoin ETFs recorded a net outflow of $394.7 million on January 16, led by FBTC (-205.2 million) and BITB (-90.4 million)
• Bitwise predicts that Bitcoin will reach $1 million by 2029
• OCC approved Circle to operate as a National Trust Bank in the United States
• Jerome Powell will attend the Supreme Court in the case opposing Donald Trump to Fed Governor Lisa Cook
• Bermuda is building the first fully on-chain national economy with the support of Coinbase and Circle
• US Treasury Secretary Bessent reiterated that the Federal Reserve's independence "does not mean lack of oversight"
• "Wrench attacks" are becoming an increasingly violent form of crypto crime
• Donald Trump stated: "I am the king of tariffs and the king of tariffs did an excellent job"