ZkSnarker

Recently, Bitcoin fell below $90,000, and Ethereum lost the $3,000 mark, but institutional investments continue to increase. A publicly listed company purchased 22,305 Bitcoins within a week. Meanwhile, dormant whales transferred $85 million worth of BTC, hinting at market changes. On the policy front, the advancement of relevant laws and the expansion of strategic reserves have also attracted attention, and the market bottom characteristics are gradually emerging.

The crypto payment company Zerohash originally had its acquisition negotiations fall through, but now Mastercard has shown interest in investing in it, reflecting increased traditional financial interest in crypto assets. Zerohash's business model has gained recognition, with flexible investment methods, representing the trend of traditional finance entering Web3.

An industry insider used the term "punching bag" on social media to describe speculators who hype Meme coins using his statements, and stated that he would avoid discussing related terms. He emphasized that he does not support this kind of speculation, reflecting criticism of the chaos in the Meme coin market and reminding investors to think rationally.

【Blockchain Rhythm】According to on-chain data, BlackRock transferred 317.594 BTC to a compliant platform three hours before January 20. This large transfer once again drew market attention—As one of the world's largest asset management companies, BlackRock's on-chain actions are often seen as a barometer of institutional sentiment. BTC continues to attract institutional funds, and based on exchange deposit data, large transfers are not isolated cases. Does this indicate that institutions have a particular view on the recent market trend? It is worth ongoing observation.

The NASDAQ-listed BitMine company disclosed its crypto asset holdings, owning over 3.48% of the Ethereum supply, including approximately 4.203 million ETH and 193 BTC, with total assets reaching $14.5 billion. BitMine continues to increase its Ethereum staking, reaching 1.838 million ETH staked as of January 19, demonstrating institutional confidence in Ethereum's long-term value. Additionally, all four proposals at the company's shareholders' meeting were approved, with shareholders supporting the asset allocation strategy.

Recently, the BNB price has stabilized around $880, facing resistance at $930-$950. On-chain data shows the market is accumulating, with 1.37 million BNB burned, and the total value of stablecoin lock-ups exceeding $7 billion, indicating a solid fundamental outlook. The technical aspect is balanced, with the key focus on the performance of the $900 support level. If it can hold, there is potential to break through $1,000 and even reach $1,160.

The U.S. Congress is working on establishing a legal framework for digital assets, encouraging innovation but with regulatory agencies lacking sufficient capacity. The regulation of stablecoins and tokens is subdivided, with OCC and CFTC understaffed, leading to a lack of investor protection and increased industry risks. It is recommended to establish a unified regulatory framework to ensure market transparency and investor safety, but until regulatory capacity is strengthened, investors should bear the risks themselves.

Recently, the bearish sentiment for mainstream cryptocurrencies like Bitcoin has eased, and funding rates have returned to neutral levels. Meanwhile, altcoins remain out of favor, showing strong bearish pressure. Funding rates reflect market supply and demand dynamics.

On the afternoon of January 20th, a trader successfully closed a short position of 3,718.75 ETH, earning a profit of $760,000. Subsequently, they turned to short XYZ100, using 20x leverage, indicating their bearish sentiment towards the market.

【Blockchain Rhythm】 Today's US stock futures are not looking optimistic. The Nasdaq 100 Index futures continue to decline, currently down by 2%. This wave of adjustment reflects market sentiment fluctuations—US stock movements often influence the short-term performance of the crypto market, and many traders are paying attention to this trend. For holders, such macro changes are worth monitoring closely.

European stock markets opened under pressure today, with several major indices declining due to the US threat to impose high tariffs on French wine and champagne, leading to increased trade tensions. Such friction could intensify volatility in risk assets, and traders should pay attention to changes in global asset allocation.

MakinaFi encountered a security incident, and the DUSD Curve pool was hacked, resulting in losses of over 5.1 million USDC. The attack exploited a vulnerability in the price mechanism, highlighting the fragility of price oracles and liquidity calculations in the DeFi ecosystem. The platform has activated safety mode and recommends liquidity providers to withdraw their funds.

As Bitcoin's price drops below $92,000, a well-known whale wallet with a 3x leverage on 1,000 BTC long positions faces a floating loss of $4.07 million. This whale recently adjusted its holdings quickly, taking profits from ETH longs and increasing its BTC position, reflecting differing views among market participants. Large holdings movements have become a market indicator.

A major trader shorted 56.68 BTC today with 40x leverage, involving approximately $5.21 million, indicating a strategic shift from bullish to bearish, possibly reflecting a reassessment of market direction. This move has attracted attention and may suggest a potential turning point in market sentiment.

The New York Stock Exchange (NYSE) announced the development of a native tokenized stock on-chain trading platform, sparking heated discussions in the crypto community. Supporters believe this move will promote the development of the crypto market and improve trading efficiency, but there are concerns that it could undermine existing DEXs, leading to resource concentration in traditional finance. The key lies in whether DeFi can integrate into traditional financial infrastructure.

On-chain data shows that a large holder recently liquidated holdings worth $265 million in BTC and ETH, incurring a loss of $324,000. Subsequently, they shorted DASH with 5x leverage, holding 73,000 coins, with an unrealized profit of $255,000. They previously took a heavy short position during BTC's rise, indicating a contrarian strategy.

Recently, an institutional account on a leading compliant platform transferred 539 Bitcoins, attracting market attention. This large transfer may indicate that institutions are adjusting their investment strategies, and market participants are closely monitoring for subsequent developments.

【ChainWen】The popularity index of the crypto market today has dropped again, from 44 directly down to 32, indicating a clear panic atmosphere. This is not just a simple numerical decline but a noticeable shift in sentiment—yesterday was somewhat cautious, and today it has entered a state of high tension. The panic and greed index is essentially a market thermometer; a level of 32 suggests that everyone's psychological expectations are a bit strained. Behind this rapid decline, it mostly reflects recent market fluctuations or uncertainties fermenting. Traders paying attention to this indicator should now be considering their next strategies—after all, extreme panic sometimes also signals opportunities brewing.

A major whale's BTC long position is facing difficulties, with unrealized gains now only $9.6 million, a decrease of nearly 85%. Their holdings include ETH, BTC, and SOL, and the overall long positions are continuously being depleted. Market adjustments have a significant impact on them.

XRP faces a technical milestone test, approaching the key level of $2.52. Despite a 6% decline this week, large holders are significantly increasing their holdings, with whales investing $60 million, and whales holding between 1 million to 10 million XRP also buying nearly $100 million, an increase of 5.2%. If it reclaims the 100-day moving average, it could trigger a larger rally.