The cryptocurrency market has been under pressure and trending downward over the past day, with an overall decline of 1.8%, mainly due to profit-taking and regulatory uncertainty. However, from a weekly perspective, market resilience remains—over the past 7 days, it has gained a total of 5.3%, and the monthly increase is also maintained at 1.69%. Several factors behind this correction are worth noting. First, changes at the institutional level, where rules for some companies raising funds to buy coins have been redefined, limiting potential large capital inflows. Second, overbought assets like XRP are beginning to show signs of a pullback. Lastly, the derivatives market is cooling down—open interest has shrunk significantly by 19%, indicating that leveraged long positions are actively reducing. Data on liquidations further reveal the concentrated release of risk. Over the past 24 hours, 127,000 traders were liquidated across the entire network, totaling $460 million. Among them, longs suffered the most, with liquidations exceeding $416 million, and shorts were not spared either, with account losses of $43.9755 million. This indicates that both sides of the market are under pressure, rather than a one-sided slaughter of longs. Looking at the specific performance of mainstream coins, Bitcoin is currently oscillating around 90,679, down 2.34% in 24 hours. The key level is 91,670—if it can hold steady at the 1-2 hour timeframe, a small rebound can be initiated. Upward resistance levels to watch are 93,000, 94,750, and 96,450; avoid blindly chasing rallies. If it fails to hold above 91,670 today, this rebound will lack strength. On the downside, support levels are sequentially 90,540, 89,350, and 88,100, where opportunities for entry can be considered as needed. Ethereum is at 3,134, down 3.73%, with a critical support at 3,180. It also needs to stabilize at the 1-2 hour level to confirm the validity of the rebound.

#数字资产行情上升 Regarding the spot XRP ETF, there is a noteworthy change to pay attention to. The 36-day streak of net capital inflows was broken on January 7th. On that day, the US spot XRP ETF experienced its first net outflow, involving 5 related funds, with a total outflow of $40.8 million. This turning point came somewhat suddenly. You might be wondering—what does this mean? Will XRP decline? Could it trigger a selling wave? Don’t jump to conclusions. Capital outflows are common in the market and usually reflect investors taking profits after gains. They are shifting funds from XRP ETFs to other asset allocations, which does not necessarily mean they are bearish on XRP itself. However, the next 2-3 days require close observation. If the outflows continue, XRP could face a wave of correction pressure, leading to a short-term adjustment. Conversely, if inflows resume tomorrow, this outflow might just be a short-term fluctuation, and the bulls still have a chance to push prices higher. So the key is—keep a continuous watch on this signal. Capital flows often preempt changes in market sentiment. Whether you choose to stay on the sidelines or adjust your positions, understanding ETF fund movements can help you better grasp the current market conditions rather than being misled by short-term volatility.

Recently, there has been an interesting observation — the altcoin season might be coming, but not starting with price surges, rather with on-chain activity heating up first. Mainstream coins like Ethereum, Ripple, Solana, and Binance Coin are beginning to show signs of real fund accumulation and activity. Meanwhile, Bitcoin's market share is approaching the critical level of 59%. Historically, every time it reaches this point, funds start flowing into altcoins. Based on past cycle patterns, 2025 could be a phase of repeated breakthroughs and retests, and such buildup often paves the way for a major altcoin season in 2026. Currently, the altcoin season index is still at 57, indicating Bitcoin's dominance remains strong, but signals are indeed brewing.