Function FBTC

FBTC·87,360.61

-2.11%

Function FBTC (FBTC) Daily Market Analysis

By CoinStats AI

29 Jan, 2026 03:08

What is the latest news for FBTC?

Function FBTC Market Update

Price Performance and Trading Activity

Function FBTC is trading at BTC0.9948 with a 24-hour trading volume of $13,580.62, representing a 0.60% price increase in the last 24 hours and a 2.00% price increase in the past 7 days. The trading volume has declined 75.50% from one day ago, signalling a recent fall in market activity.

Market Position and Valuation

Function FBTC has a market capitalization of BTC10,830.2867 and is ranked #101 on CoinGecko, with 11 thousand tokens tradable on the market today. The token reached an all-time high of BTC1.0610 and is now trading 29.30% below that peak.

Comparative Market Performance

With a price increase of 2.00% in the last 7 days, Function FBTC is outperforming the global cryptocurrency market which is up 1.70%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

Recent Rebranding and Protocol Updates

Ignition (FBTC) has rebranded to Function (FBTC). Function is building the financial infrastructure that makes Bitcoin productive, unlocking yield, liquidity, and capital efficiency for holders across DeFi and traditional finance.

Trading Venues

Sources:

Why is FBTC price down today?

I notice there's confusion in the search results between two different FBTC tokens. Let me clarify based on the data I retrieved:

Price Movement Analysis

The data shows Function FBTC (the cryptocurrency token on Mantle blockchain) experienced a 1.66% decline over the past 24 hours, with the token trading at $87,720.15 USD.

Key Performance Metrics

24-Hour Performance:

Price change: -1.66%
1-hour change: -1.01%
7-day change: -3.00%

Market Data:

Current price: $87,720.15
Market cap: $966.09 million
Available supply: 11,007 tokens
Trading volume: $39,782
Risk score: 66.29 (moderate-to-high risk)

Analysis

The modest 24-hour decline reflects broader consolidation in the cryptocurrency market. Function FBTC's performance aligns with recent market dynamics where analysts argue the latest dip is more about positioning and profit-taking than any deterioration in bitcoin's underlying trend.

The token's underperformance over the week (-3%) suggests sustained selling pressure, though the relatively low trading volume ($39,782) indicates limited liquidity, which can amplify price movements in either direction.

Note: This analysis covers Function FBTC (the DeFi token), which is distinct from Fidelity's FBTC Bitcoin ETF product.

What is the market sentiment for FBTC today?

I need to clarify the confusion here. Based on my search results, there are two different assets with the ticker "FBTC":

Fidelity Wise Origin Bitcoin Fund (FBTC) - A Bitcoin spot ETF trading on US exchanges
Function FBTC - A cryptocurrency token on the Mantle blockchain

The data from your initial query shows Function FBTC (the cryptocurrency token), which is a different asset from the widely-known Fidelity Bitcoin ETF. Let me provide sentiment analysis for the Function FBTC token you queried:

Market Sentiment Analysis: Function FBTC (Cryptocurrency Token)

Overall Sentiment: Bearish to Neutral

Function FBTC exhibits weak market sentiment characterized by declining trading activity and modest price movements. The token demonstrates limited institutional interest and minimal community engagement compared to major cryptocurrency assets.

Price Performance & Technical Indicators

Current market data reveals:

Price: $87,720.15 USD
24-Hour Change: -1.66%
7-Day Change: -3.00%
1-Hour Change: -1.01%
Market Cap: $966.09 million
Risk Score: 66.29 (elevated risk profile)

The consistent negative price action across multiple timeframes indicates downward momentum. The token has not established new price highs recently, suggesting limited bullish conviction among market participants.

Trading Activity & Liquidity

Trading volume of Function FBTC is $13,580.62 in the last 24 hours, representing a -75.50% decrease from one day ago and signalling a recent fall in market activity. This dramatic volume contraction signals weakening trader interest and reduced market engagement.

The most popular exchange to buy and trade Function FBTC is Merchant Moe Liquidity Book (Mantle), where the most active trading pair FBTC/CMETH has a trading volume of $13,331.97 in the last 24 hours. The concentration of volume on a single decentralized exchange indicates limited liquidity depth and restricted accessibility.

Community & Project Status

Ignition (FBTC) has rebranded to Function (FBTC). The recent rebranding suggests an attempt to revitalize the project, though market reception remains subdued. Function is building the financial infrastructure that makes Bitcoin productive, unlocking yield, liquidity, and capital efficiency for holders across DeFi and traditional finance.

Risk Assessment

The elevated risk score of 66.29 reflects structural vulnerabilities. According to GoPlus, the contract creator can make changes to the token contract such as disabling sells, changing fees, minting, transferring tokens etc. Exercise caution. This centralized control mechanism presents significant counterparty risk for token holders.

Sentiment Conclusion

Market sentiment for Function FBTC remains decidedly bearish. Deteriorating trading volume, consistent price declines, limited liquidity, and elevated smart contract risks create an unfavorable environment. The token lacks the institutional adoption and community momentum necessary to support sustained price appreciation. Traders and investors demonstrate minimal conviction, as evidenced by the sharp volume decline and absence of positive price catalysts.

Note: This analysis covers Function FBTC, a cryptocurrency token on the Mantle blockchain. This is distinct from the Fidelity Wise Origin Bitcoin Fund (FBTC), which is a US-listed Bitcoin spot ETF with substantially different market dynamics and institutional adoption.

FBTC Technical Analysis: Key Support & Resistance Levels?

FBTC Technical Analysis: Key Support & Resistance Levels

Current Price & Market Overview

Symbol: FBTC (Function FBTC)
Current Price: $87,720.15
Market Cap: $966.09 Million
24-Hour Change: -1.66%
7-Day Change: -3.00%
Trading Volume: $39,782
Available Supply: 11,007 FBTC

Key Support Levels

Level	Significance
$85,000 - $86,000	Consolidation range floor reinforced by heavy options exposure and dealer gamma dynamics
$82,000	Floor level where failure to hold $88,000 may trigger a retest
$74,000	Long-term support level

Key Resistance Levels

Level	Significance
$88,000 - $89,000	Critical midpoint of December 2025 consolidation range that must hold to preserve bullish framework
$90,000 - $91,500	Critical support level defined by Short-Term Holder (STH) Realized Price and Fibonacci retracement levels
$94,253	Break above this level could catalyze a move toward $100,000 and beyond
$95,000 - $100,000	Resistance concentrated where 100-day and 200-day moving averages intersect
$107,000	Long-term resistance level

Technical Indicators Analysis

Relative Strength Index (RSI)

RSI is below 30 after falling prices of recent weeks, indicating strong negative momentum and further decline. This oversold condition (below 30) suggests potential for mean reversion or stabilization.

Moving Average Structure

5-day MA at 90,909.55, 20-day MA at 89,819.74, and 50-day MA at 89,648.04 all suggest Buy signals
200-day MA at 106,320.49 suggests a Sell signal
Short-term moving averages remain above current price, indicating potential support structure

MACD Indicator

Bitcoin Real-Time MACD is -686.780, suggesting a Sell signal. The negative MACD reading indicates bearish momentum, though this should be monitored for potential bullish crossover signals.

Chart Pattern Analysis

Consolidation Range

Price action has been tightly bound by a consolidation range between $85,000 and $90,000, reinforced by heavy options exposure and dealer gamma dynamics. Bitcoin is within an approximate horizontal trend channel in the short term, with price reacting back after a false break of the rectangle formation.

Breakout Scenarios

Upside Breakout: A break above $90,000 could trigger gamma-driven buying, repricing 2026 call options higher and reinforcing upside momentum
Downside Breakout: A significant penetration of 88,604 will give new negative signals

Volume Analysis

Current trading volume of $39,782 reflects relatively low activity. Volume represents the total number of trades executed within a specific time frame and is a vital confirmatory indicator that supports trend analysis by reflecting the strength behind price movements. Low volume during consolidation suggests limited conviction in either direction.

Short-Term Outlook (Daily Timeframe)

The technical picture shows mixed signals with bearish momentum indicators offset by oversold conditions. Currency is testing resistance at 89,000, which could give a negative reaction, but an upward breakthrough of 89,000 means a positive signal. The consolidation pattern suggests a breakout is imminent, with direction dependent on volume confirmation.

Medium-Term Outlook (Weekly Timeframe)

A breakout above $95,000 would validate a shift in market sentiment, while a failure to hold above $90,000 could trigger further downside. Gamma exposure, now diminished post-December expiry, has removed a key constraint on volatility, setting the stage for a potential breakout, with institutional adoption and on-chain metrics pointing to a market primed for sustained upside, provided macroeconomic conditions remain favorable.

Key Technical Considerations

Oversold Conditions: RSI below 30 indicates potential for bounce or reversal
Moving Average Alignment: Short-term MAs provide dynamic support structure
Consolidation Breakout: Resolution likely above $90,000 or below $85,000
Institutional Flows: Fidelity's FBTC accounted for over $1 billion in inflows in early January, yet mid-month outflows signaled caution