2026-01-20 02:24:22

The market has been quite interesting these days. Today is a critical point for me; according to previous cycle theories, it's time to take action.

The recent break above 3200 for ETH does make people a bit nervous, but on-chain data shows that buying pressure is still there. Although everyone is complaining, big wallets don't lie—BitMine recently injected another 86,848 ETH into the ecosystem, which is about $279.4 million USD at current prices. That's a significant move. This could actually be an opportunity. If it can rebound to 3655, 30x leverage might be worth a try.

BTC is still declining and hasn't shown clear signs of recovery. The entire market's enthusiasm is focused on altcoins and various meme coins, while mainstream cryptocurrencies are somewhat cold. SOL initially had good on-chain activity recovery, but now everyone is trading meme coins with stablecoins, and the hot money flow has completely shifted.

There are also new macro signals. CME's Federal Reserve watch tool indicates a 95% probability of holding interest rates steady in January, which reassures the market. Meanwhile, the 40-year Japanese government bond yield has broken through 4% for the first time since 2007, drawing market attention to potential BOJ foreign exchange interventions.

Interestingly, Arkham analysts found an on-chain address suspected to belong to a Bhutanese fund engaging in high-leverage ETH long positions, indicating institutional players are also bottom-fishing. Additionally, the USDT to Bolivar exchange rate in Venezuela has been steadily declining since January 7, dropping about 40% overall, reflecting liquidity pressure in emerging markets.

By the way, Magic Eden announced that 15% of the platform's total revenue will be used for the ME token ecosystem, with 50% allocated for buybacks. Only now do they start to think about buybacks. Some projects only start doing this when they're about to fail, which is quite ironic.

Overall, the current phase is a mixed market. Mainstream cryptocurrencies have support, but risks remain. If you haven't managed risk properly, don't leverage lightly.

ETH-7.81%

BTC-4.53%

SOL-5.37%

ME-7.3%

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WhaleWatcher

· 8h ago

30x leverage is indeed exciting, but few really dare to open it BitMine investing so much ETH shows they are also betting on a rebound, which gives them some confidence Magic Eden's move was indeed late; they only remembered to buy back when it was almost GG, hilarious But honestly, if risk control isn't managed well, you'll really get screwed; the support for mainstream coins this time is just so-so

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CryptoWageSlave

· 20h ago

Large investors spent 279 million without panic; why should I panic? Just a bit painful that 30x can't be opened --- This wave of meme coin bloodsucking has drained half of the Sol ecosystem's liquidity --- Even the Bhutan Fund dares to buy the dip, indicating it's definitely not a bottom explosion --- Magic Eden only now remembers to buy back? That's ridiculous. Why didn't they think of it when burning money? --- The Federal Reserve has a 95% chance of holding steady, which means they are giving us time --- The words "risk control" I hear the most are the ones I haven't had—it's the money made without risk control --- Venezuela USDT has dropped 40%, which is a real danger signal

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MoneyBurnerSociety

· 20h ago

Bhutan funds are all bottom-fishing, while I’m still calculating contract fees, really typical 30x leverage? My professionalism tells me this is just the liquidation price plus five bucks Major investor dumps 279.4 million, I only invest two hundred bucks, and the result is the same downward trend, hilarious Magic Eden is now repurchasing? So timely to realize, if it were any later, it would only be buying air Risk control? My risk control is getting liquidated at different prices each time, that’s called diversification Honestly, BitMine’s recent moves are interesting, but I care more about when I can finally successfully bottom-fish once Demon coin takes off, mainstream is indifferent, I’m the kind of "waiting party" that feels most awkward Venezuela’s USDT has dropped 40%, my account’s decline might be even more creative

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ProveMyZK

· 20h ago

Large traders are placing such aggressive buy orders, I am a bit tempted, but I really don't dare to use 30x leverage. I had a margin call last time doing the same thing. Is Magic Eden's buyback program a bit too late? It feels like a form of self-rescue. Altcoins have been going crazy these days, while mainstream coins are not in demand at all, which is indeed bizarre. The operation by the Bhutan Fund is interesting. If institutions are all bottom-fishing, I need to reconsider my positions. With such a high probability of interest rates remaining unchanged, do you think I can be a bit more at ease?

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GmGmNoGn

· 20h ago

Wait a minute, BitMine investing so much ETH, is it real or fake? We need to check on-chain confirmations. When big players enter, we follow to buy the dip. This trick has been played for so long. 30x leverage? Brother, are you trying to get rich or get liquidated? The meme coin hype is so high, while mainstream coins are freezing cold. It feels like the time for a reverse operation has arrived. Japan's government bond yields break 4%, now this is getting interesting. In Venezuela, USDT is also falling. Emerging markets really can't hold up. Magic Eden only now remembers to buy back, typical of a last-ditch rescue. In a mixed market, you need to use mixed strategies. Don't go all-in, my friend.

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ReverseTradingGuru

· 20h ago

86,848 ETH dumped down, this力度确实在说话啊 30x leverage还是算了，我是怕死的那种 Magic Eden现在才想起回购，确实有点晚 BTW，不丹基金抄底ETH是什么鬼，这也能被发现的？ Mainstream coins冷得不行，hot money都去玩妖币了，离谱 Risk control做不好真的会血亏，别被周期论骗了 The Federal Reserve maintains a 95% probability, is this good news or meaningless? SOL on-chain activity is gone, it's all stablecoins trading, this market is a bit crazy BitMine这笔入场看着像是在抄底，但时机能对上吗 Venezuela USDT跌40%，新兴市场要崩吗？突破3200有点吓人，但机构都在接盘

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P2ENotWorking

· 20h ago

Large investors should still pay attention to signals of bottoming out, but is that 30x leverage only for gamblers? Magic Eden only now remembers to buy back, which means they probably burned through all the money earlier. The meme coin siphoning is too aggressive, and the heat of the SOL ecosystem has been drained dry. BitMine investing 279 million isn't a small move, but I still think 3200 isn't the bottom. Is it stable if the Federal Reserve doesn't raise interest rates? Not that simple, it also depends on employment data. Is the Bhutan fund going long? Where did this information come from? Arkham can't be trusted either. Risk control is always the top priority; those who leverage are only regretting after losing everything.

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BlockchainBrokenPromise

· 20h ago

You really have guts. BitMine's move definitely signals something... but with 30x leverage, we still need to stay calm and cautious. Big investors throwing money around is one thing, but who can say they're not trying to top out? All data can be interpreted in two ways. Altcoins are hot right now like crazy, while mainstream coins are being neglected. This contrast is indeed outrageous. Wait, is the Bhutan Fund also trading with high leverage? Are institutions all betting? Then I better protect my principal. The Federal Reserve keeping interest rates unchanged at 95% is a sure thing? This market is really easy to satisfy. Magic Eden just now remembered to buy back, why didn't they do it earlier... That's quite ironic. Honestly, if risk control isn't done well, there's no point in messing around. It looks pretty risky to me.

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