The market experienced fluctuations from decline to recovery at the start of the year, with overall sentiment currently cautious.

Main trend: The market first declined and then rebounded. On January 1st, there was a broad decline, with over 160,000 liquidations. Starting January 2nd, Bitcoin and Ethereum rebounded, with Meme coins (such as $PEPE ) leading the gains.
Current sentiment: Cautiously optimistic. The Fear & Greed Index is at 38 (fear zone), but it has improved from the previous 20 (extreme fear).
Key data: Total market capitalization has returned to $3 trillion; Bitcoin is approximately $89,945, Ethereum around $3,124.
Ethereum outlook: Founder Vitalik Buterin set a target for 2026, emphasizing decentralization and global accessibility.
Project updates: Shiba Inu coin’s 24-hour burn rate surged over ten thousand times; Ripple plans to unlock 1 billion XRP.
Policy expectations: The U.S. Senate Banking Committee is expected to advance the “Digital Asset Market Structure Act” (Clarity Act) next week, attracting market attention.
Below are some recent key data and core viewpoints to help you quickly grasp the market pulse:
Bitcoin average holding price: approximately $56,137, below short-term investor costs.
Exchange Bitcoin flows: Recently showed significant net outflows (e.g., over 38,500 BTC on January 1st), indicating selling pressure may be easing.
Futures open interest: Down over 40% from October highs, indicating reduced market leverage.
Historical comparison: Bitcoin declined about 6% in 2025, marking its first annual decline post-halving, challenging the traditional “four-year cycle” pattern.
Short-term trend: Generally considered to be in consolidation. Key resistance is in the $89,500 - $92,000 range, with support in the $82,000 - $87,000 range.
Meme coin rebound: Seen as a risk appetite test and a “thermometer” of market sentiment, but sustained gains require strength in mainstream assets like Bitcoin.
Long-term structure: ETF funds, corporate, and national holdings form a “structural demand,” potentially providing support for the market.