According to a report by Odaily Planet Daily, Glassnode published an article on the X platform stating that the STH-NUPL metric (a measure of the ratio of unrealized profits/losses of new investors to the market capitalization of short-term holders) shows that new investors have been consistently in a net unrealized loss state since November 2025. The analysis indicates that for this group to return to a net profitable state, the price of Bitcoin needs to rise to above approximately $98,000. This data reflects the short-term market pressure, and the recovery of short-term investors' profits still depends on the stabilization of the Bitcoin price and a breakthrough of key resistance levels.

According to Lookonchain monitoring, today the US Bitcoin ETF saw a net outflow of 1,106 BTC, the Ethereum ETF saw a net inflow of 9,171 ETH, and the Solana ETF saw a net inflow of 41,134 SOL.

According to analyst Mignolet, the Coinbase Premium Rate (CPG) has hit a nearly 12-month low, attributed to selling by US whales during the US holiday season, rather than by Bitcoin spot ETFs. Data shows that the 30-day average CPG for Bitcoin has fallen to approximately -63.85, the lowest level since January 2025, indicating stronger selling pressure from US investors than in global markets. The CPG primarily tracks the price difference between the Bitcoin/USD trading pair on Coinbase and the BTC/USDT trading pair on Binance. Technically, the Bitcoin daily chart has formed a rising wedge pattern, which increases the downside risk and could potentially lead to a drop to around $80,000. (Cointelegraph)

Huoxun Finance reported on January 19th that GarrettJin, suspected to be the "1011 insider whale," posted on the X platform, stating that comparing the current Bitcoin market to 2022 is extremely unprofessional. He believes there are fundamental differences between the two from the perspectives of long-term price structure, macroeconomic background, investor composition, and chip distribution. He pointed out that the current macroeconomic environment is diametrically opposed to the high-inflation and interest rate hike cycle of 2022: the situation in Ukraine is easing, CPI and risk-free interest rates are declining, and the AI technology revolution is likely to drive the economy into a long-term deflationary cycle. Interest rates have entered a phase of rate cuts, and central bank liquidity is returning to the financial system, defining the risk-averse behavior of capital. Since 2020, Bitcoin and CPI year-on-year changes have shown a clear negative correlation, and with the AI-driven technological revolution, long-term deflation is a high-probability outcome. Technically, 2021-2022 is a weekly M-top structure, while 2025 is a break of the upward channel, which, statistically, is more likely a "bear trap" before a rebound. He pointed out that for a bear market like the one in 2022 to repeat itself, stringent conditions must be met simultaneously, including a resurgence of inflationary shocks, central banks restarting interest rate hikes or quantitative tightening, and a decisive price drop below $80,850. It's premature to be bearish before these conditions are met. Regarding investor structure, 2020-2022 was a highly leveraged speculative market dominated by retail investors. Since the launch of Bitcoin ETFs in 2023, structural long-term holders have entered the market, effectively locking up supply and significantly reducing trading speed and volatility. Bitcoin has shifted from its historical volatility of 80-150% to a range of 30-60%, becoming a distinctly different asset. The current market has entered a more mature institutional era, characterized by stable underlying demand, locked-up supply, and institutional-level volatility.

Odaily Planet Daily reports that YZi Labs has announced the launch of the third season of its EASY Residency program, transitioning from a single, fixed "class" to a year-round rolling admissions model, allowing founders to apply and be interviewed at any time. The third season establishes long-term bases in New York and the San Francisco Bay Area, where YZi Labs' investors are located year-round. EASY Residency will host three global demo days in 2026: April (Dubai TOKEN2049), August, and December.