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Animoca Brands has strengthened its position in the digital collectibles and Web3 entertainment sector with the acquisition of Somo, a Web3-native gaming and digital collectibles platform. The deal expands Animoca’s growing ecosystem by bringing Somo’s playable, streamable, and tradable collections into its broader blockchain portfolio.
According to Animoca Brands, Somo will be integrated into its wider Web3 infrastructure, benefiting from shared technology, cross-platform promotion, and Animoca’s extensive global partner network. The integration is expected to accelerate brand growth while enhancing user engagement across gaming, collectibles, and digital entertainment.
Yat Siu, co-founder and executive chairman of Animoca Brands, described Somo as a project building a “cultural operating system for collectibles,” aligning closely with Animoca’s long-term vision of digital ownership and open metaverse economies. The acquisition reflects Animoca’s continued focus on scalable Web3 experiences that blend culture, gaming, and blockchain-based assets.
The transaction comes at a time when the NFT market is showing early signs of recovery. Data from CoinGecko indicates that global NFT market capitalization increased by approximately 20% during the first two weeks of 2026, rising from around $2.5 billion to over $3 billion. Despite this rebound, the market remains well below its previous cycle peak, suggesting that recovery opportunities are emerging alongside continued caution.
The acquisition highlights renewed strategic interest in NFTs and digital collectibles, particularly from established Web3 firms seeking to position themselves ahead of a potential broader market recovery.
This article is for informational purposes only and represents a personal blog perspective. It does not constitute investment advice. Readers should conduct their own research before making any financial decisions. The author is not responsible for any investment outcomes.
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Pakistan has taken a significant step in its financial modernization strategy by signing a cooperation agreement with a company affiliated with World Liberty Financial (WLF) to integrate the USD1 stablecoin into the country’s regulated digital payment system, according to Reuters.
Under the agreement, WLF will work closely with the State Bank of Pakistan to enable USD1 to operate alongside Pakistan’s domestic digital monetary infrastructure. The initiative is primarily aimed at improving cross-border payment efficiency, allowing faster settlement times, lower transaction costs, and enhanced transparency for international fund transfers.
The move reflects Pakistan’s broader push to modernize its financial system and accelerate digital transformation in payments. By incorporating a stablecoin into an officially regulated framework, Pakistan could address long-standing challenges related to remittances — a critical component of the country’s economy — while maintaining regulatory oversight and risk control.
Reuters noted that this project also highlights a growing global trend: governments exploring ways to combine privately issued stablecoins with central bank–regulated digital currency systems. This hybrid approach allows countries to leverage the speed and programmability of blockchain technology without fully relinquishing monetary supervision or compliance standards.
While still in its early stages, the integration of USD1 may serve as a reference model for other emerging economies seeking to balance innovation with regulation in the rapidly evolving digital finance landscape.
This article is for informational purposes only and represents a personal blog opinion. It does not constitute investment advice. Readers should conduct their own research before making any financial decisions. The author is not responsible for any investment outcomes.
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ETHGas, a blockspace-focused protocol on Ethereum backed by Polychain Capital, has officially launched its native governance token GWEI, positioning it as the coordination layer behind what the project describes as a vision for “Realtime Ethereum.”
The token launch follows ETHGas’s previously announced $12 million token funding round, as the protocol moves forward with its ambition to restructure how Ethereum blockspace is allocated and accessed. Rather than relying on Ethereum’s traditional “blind” gas auction model, ETHGas aims to transform blockspace into a programmable, tradable, and pre-commitment-based market.
In a statement released Tuesday, the ETHGas team acknowledged that while Ethereum remains the strongest settlement layer in the crypto ecosystem, its current blockspace allocation mechanism has struggled to keep pace with growing application demand. This mismatch has contributed to high latency and volatile gas fees, particularly during periods of network congestion.
According to ETHGas, its protocol restructures blockspace in a way that allows applications to secure predictable and reliable execution guarantees, enabling new design patterns such as large-scale gasless user experiences. Within this framework, GWEI functions as the governance token, coordinating protocol upgrades, parameter adjustments, and treasury-related decisions. Governance power is distributed through staking and token lock-up mechanisms.
From Blockspace Futures to “Realtime Ethereum”
The launch of GWEI builds on ETHGas’s momentum over the past year. In addition to raising $12 million, the project previously introduced a blockspace futures market on Ethereum, reportedly attracting around $800 million in committed liquidity. The protocol has targeted demand from institutions and infrastructure-level applications seeking execution certainty as Ethereum activity continues to scale.
ETHGas’s long-term vision is to establish the first infrastructure layer for “Realtime Ethereum,” where applications no longer compete chaotically in the public mempool but instead pre-commit to execution rights under clearly defined conditions.
Blockspace, Gas, and a Broader Ethereum Debate
While closely related, gas and blockspace represent distinct concepts at the core of Ethereum’s design. Gas acts as the pricing and payment mechanism, whereas blockspace is the underlying scarce resource — the capacity within each Ethereum block that users and applications compete for.
ETHGas focuses directly on blockspace itself, treating it as an asset that can be priced, reserved, and traded. This approach aligns with a growing conversation within the Ethereum community about making execution more predictable. Ethereum co-founder Vitalik Buterin has previously discussed trust-minimized gas futures markets as a way to hedge fee volatility, though such ideas have also raised concerns around new risks and potential centralization.
ETHGas’s approach places it at the center of this debate, betting that coordinated allocation through token governance, rather than pure mempool competition, represents the next evolutionary step for Ethereum’s execution layer.
The protocol announced that a snapshot to determine eligibility for the initial community token distribution will take place on January 19, with additional details on GWEI’s tokenomics to be released in the coming weeks.
This article is for informational purposes only and reflects personal commentary. It does not constitute financial or investment advice. Readers should conduct their own research and assume full responsibility for any investment decisions.
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CoinGecko, one of the leading cryptocurrency data and market analytics platforms headquartered in Singapore, is reportedly considering a potential sale of the business at a valuation of approximately $500 million, according to sources familiar with the matter.
As part of this process, CoinGecko has hired investment bank Moelis to act as its financial advisor. Two sources indicated that the company is targeting a valuation near the $500 million mark, while another source cautioned that it may be too early to finalize any figures, as the process only began toward the end of last year. CoinGecko has not responded to requests for comment, and Moelis declined to provide a statement.
Crypto M&A Activity Accelerates Across the Industry
The potential sale comes amid a significant acceleration in mergers and acquisitions (M&A) activity across the cryptocurrency sector. In 2025, the total value of announced crypto-related M&A deals reached approximately $8.6 billion, spanning a record 133 transactions, according to data from PitchBook. This figure exceeds the combined total of the previous four years.
Notable transactions over the past year include Coinbase’s $2.9 billion acquisition of Deribit and Kraken’s $1.5 billion purchase of NinjaTrader, alongside numerous smaller deals across payments, data services, infrastructure, and trading platforms.
This wave of consolidation reflects a strategic push by companies to scale operations, strengthen regulatory compliance capabilities, and secure strategic assets, particularly as regulatory clarity improves and institutional participation continues to grow.
Data Platforms Face Pressure From AI and Traffic Declines
At the same time, data and crypto media companies are facing growing challenges, including declining web traffic and increasing competition from AI-driven tools. According to Similarweb, CoinGecko’s monthly website visits fell to approximately 18.5 million in December 2025, down sharply from 43.5 million in 2024.
Rival platform CoinMarketCap has experienced a similar trend, with monthly visits dropping to around 64 million, compared to roughly 157 million in the prior year. These declines highlight broader shifts in how users access crypto market data, with AI-powered aggregators and alternative analytics platforms gaining traction.
CoinGecko’s Longstanding Role in the Crypto Ecosystem
Founded in 2014 by TM Lee and Bobby Ong, CoinGecko has played a central role in the cryptocurrency ecosystem for more than a decade, offering price tracking, market metrics, token analytics, and research tools used by retail traders, institutions, and developers alike.
While it remains unclear whether CoinGecko will proceed with a sale or pursue alternative strategic options, the reported move underscores the rapidly evolving dynamics of the crypto data and infrastructure landscape.
This article is for informational purposes only and represents personal commentary. It does not constitute financial or investment advice. Readers should conduct their own research and assume full responsibility for any investment decisions.
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Ethereum (ETH) has once again climbed back toward the $3,300 level, a price zone it has repeatedly failed to hold over the past 60 days. This repeated rejection has raised concerns among market participants about whether Ethereum can establish a sustainable bullish trend heading into 2026.
Despite Ethereum’s continued technological upgrades and its dominant position in terms of total value locked (TVL), market sentiment remains cautious. Many traders question whether ETH has enough momentum to reclaim the $4,000 level in the near term, especially as broader crypto market conditions remain fragile.
Since November, Ether’s price action has closely mirrored the overall cryptocurrency market. The lack of upside momentum appears to be driven less by structural issues within Ethereum itself and more by a noticeable slowdown in decentralized application (DApp) usage across the ecosystem. Whether due to macroeconomic uncertainty or shifting investor risk appetite, ETH’s short-term upside continues to face limitations.
Ethereum Moves in Line With the Broader Market as DApp Activity Declines
Despite occasional bursts of optimism across the crypto market, on-chain activity paints a more cautious picture. Transaction volumes across decentralized exchanges (DEXs) have dropped sharply, signaling reduced user engagement.
According to data from DefiLlama, total DEX trading volume over the past two weeks reached $150.4 billion, representing a 55% decline from the all-time high of $340 billion recorded in January 2025. Ethereum’s own seven-day DEX volume currently sits near $9 billion, down significantly from the $27.8 billion peak seen in October 2025.
This 65% contraction in activity has pushed Ethereum network fees down to approximately $2.6 million, marking an 87% decrease compared to levels recorded just three months earlier. Nevertheless, Ethereum continues to dominate the DEX landscape, accounting for roughly 50% of total market share when including activity across major layer-2 networks such as Base, Arbitrum, and Polygon.
Institutional Confidence Remains, Despite Rising Competition
Ethereum’s leadership in total value locked continues to signal strong institutional preference, even as competing networks like Tron, Solana, and BNB Chain generate higher transaction fees. Critics argue that Ethereum has yet to fully capitalize on its smart contract deposit advantage, but this appears largely intentional, reflecting its long-term rollup-centric scaling strategy.
In contrast, Solana currently processes more transactions than the next ten largest networks combined. According to Nansen, Ethereum handled approximately 54.4 million transactions over the past 30 days, while the Base layer-2 network alone recorded over 600 million transactions during the same period. This highlights differing architectural philosophies, with Solana relying on high-throughput base-layer execution, while Ethereum emphasizes modular scalability.
Prolonged Price Weakness Poses Challenges for ETH-Focused Firms
The extended two-month period with ETH trading below $3,200 has created pressure for companies that raised capital or issued equity to build ETH reserves. For example, Bitmine Immersion (BMNR US) reportedly holds Ethereum worth $13.2 billion, yet its stock trades at a 9% discount to its underlying asset value, according to CoinGecko data.
At present, it remains unclear what catalyst could reignite strong upside momentum for Ether, especially as rival networks continue to offer comparable DApps with lower costs and faster execution through base-layer scalability.
Ethereum’s path back toward $4,000 and beyond will likely depend on a recovery in blockchain application demand and a renewed risk-on environment among crypto investors, particularly as uncertainty surrounding the US macroeconomic outlook persists.
This article is for informational purposes only and reflects personal market commentary. It does not constitute financial or investment advice. Readers should conduct their own research before making any investment decisions.
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Ethena has recently attracted attention following a series of strategic developments, yet the price of its native token ENA continues to show limited reaction. Ethena Labs announced a partnership with leading centralized exchange Kraken, selecting Kraken Custody to support collateral custody services for USDe.
According to Ethena founder Guy Young, the decision reflects a broader commitment to scaling USDe on infrastructure that meets institutional-grade standards. In parallel, recent reports also highlighted the launch of JupUSD on the Solana network, marking Ethena’s next whitelabel stablecoin entering live operation.
Despite these positive ecosystem updates, ENA’s price action has remained subdued, suggesting that market participants are still hesitant to reprice the asset higher.
Long-Term Trend Remains Unclear on the Daily Chart
On the daily timeframe, ENA has yet to establish a clear bullish trend. After a brief recovery attempt in early January, selling pressure resumed, reinforcing the broader bearish structure that has been in place for several months.
The Accumulation/Distribution (A/D) indicator has been trending lower since September 2025, when ENA encountered strong supply near the $0.85 zone. This persistent decline indicates that trading volume has largely favored sellers, despite intermittent price rebounds.
While the recent move toward $0.26 briefly pushed the Directional Movement Index (DMI) into bullish territory, subsequent pullbacks have returned the indicator to a neutral state. This suggests that downside momentum is no longer as aggressive as it was during October and November, but buyers still lack the conviction needed to reverse the broader trend.
What Could Break ENA Out of Its Current Stagnation?
Recent partnerships and product launches, while constructive from a fundamental standpoint, have not yet translated into sustained demand for ENA. A broader shift in market sentiment may be required for a meaningful trend change.
One potential catalyst could come from Bitcoin (BTC). A decisive move above the $100,000 psychological level could reignite risk appetite across the altcoin market, potentially improving sentiment toward ENA and similar assets.
Until such a shift occurs, ENA appears likely to remain range-bound within its current structure.
Trader Perspective: Selling Into Rallies Within a Bearish Structure
From a market structure standpoint, ENA continues to trade within a long-term downtrend. Recent price action shows that a drop into the $0.217–$0.213 zone cleared a cluster of long positions before rebounding toward $0.22.
Overhead, selling interest is gradually building near $0.228, with a more significant supply zone forming just above $0.24. These areas align with liquidity zones where short positioning has historically increased.
In this context, some traders may view rallies into the $0.24 region as areas where downside reactions are more likely, while downside targets remain near $0.21. A sustained move above $0.25 would challenge this structure and invalidate the bearish bias.
This article is for informational purposes only and reflects personal market analysis. It does not constitute financial or investment advice. Always conduct your own research before making any trading decisions.
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Solana (SOL) is drawing renewed attention from traders as its price structure tightens just below a key resistance zone. After several months of consolidation, market analysts believe SOL may be approaching a decisive trend breakout, with technical and liquidity data increasingly favoring a bullish continuation scenario.
At the time of writing, Solana remains capped below a major resistance area, but the broader market structure suggests that selling pressure is gradually weakening.
Buyers Regain Control as SOL Builds a Bullish Base
Since November 14, 2025, Solana has been consolidating within a relatively narrow range between $120 and $145, forming a well-defined cup-and-handle pattern on the daily chart. On higher timeframes, this pattern is typically interpreted as a continuation signal, reflecting a prolonged accumulation phase followed by a controlled pullback that compresses volatility before a breakout.
The $145 resistance level has rejected SOL’s price action four times over the past three months, reinforcing its significance as a supply-heavy zone. As repeated tests often weaken resistance, a confirmed breakout above this level could trigger a sharp expansion in volatility.
Based on the measured move of the cup-and-handle structure, SOL could initially target the $175–$180 range, representing an upside of roughly 25% from current levels. If bullish momentum accelerates, extension targets near $190 may come into focus.
Adding to the constructive outlook, Solana has reclaimed and is holding above its 50-day moving average for the first time since late September 2025. Historically, sustained price action above this trendline has often marked a transition from corrective phases into directional markets, signaling that broader selling pressure is fading.
Liquidity Zones and ETF Flows Shape Risk Dynamics
Data from CoinGlass highlights key liquidity levels that may influence short-term price behavior. Liquidation heatmaps indicate that over $1 billion in long positions could be at risk if SOL were to decline by approximately $15, pushing price back toward the $130 support zone. This suggests that a shallow pullback remains a plausible scenario if buyers fail to defend current levels.
On the upside, short liquidations are heavily concentrated near $160, where roughly $520 million in short positions could be forced to close. A clean break above resistance could therefore trigger a short squeeze, amplifying upward momentum and accelerating SOL’s move toward higher targets.
This liquidity imbalance implies that while downside risk exists near support, upside volatility may be sharper if resistance is decisively breached.
Spot ETF Inflows Strengthen Solana’s Market Foundation
Institutional flows continue to provide structural support for Solana. US-listed spot Solana ETFs recorded $10.7 million in net inflows during the latest session, led by Bitwise’s BSOL, which alone attracted $8.6 million.
Year-to-date, total net inflows into spot SOL ETFs have increased from $1.02 billion to $1.14 billion, with no significant outflows reported so far. This steady accumulation reflects sustained demand and plays a key role in absorbing market volatility as SOL approaches critical resistance levels.
From a market structure perspective, consistent ETF inflows reduce the probability of sharp breakdowns and improve the likelihood that pullbacks remain corrective rather than trend-reversing.
Outlook: Breakout or Pullback Before Expansion?
Solana’s price action suggests that the broader trend is shifting back toward bullish territory. A confirmed daily close above $145 would likely validate the breakout structure and open the path toward $180–$190 in the weeks ahead.
However, traders should remain aware of liquidity risks near $130, where failure to hold support could trigger a temporary reset before any sustained advance. Until resistance is decisively cleared, short-term volatility remains likely.
This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research before making any investment decisions. The author is not responsible for any financial outcomes.
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Cardano (ADA) is gradually reclaiming the $0.40 level at the time of writing on Tuesday, signaling a cautiously improving sentiment across the broader cryptocurrency market. The rebound from the intraday low near $0.38 has been fueled by renewed optimism after US core inflation data came in below expectations, reinforcing investor confidence and easing macroeconomic concerns.
The latest price action suggests that ADA could be positioning itself for a short-term breakout, provided broader market conditions remain supportive.
Cardano Rises as US Inflation Data Strengthens Market Sentiment
The latest US Consumer Price Index (CPI) report showed headline inflation rising 2.7% year over year in December, matching market expectations. More importantly, data from the US Bureau of Labor Statistics (BLS) revealed that core CPI increased by just 2.6%, slightly below the forecast of 2.7%.
This moderation in core inflation — which excludes food and energy prices — indicates that underlying price pressures may be easing. As a result, expectations have grown that US monetary policy could remain less restrictive in the coming months.
Crypto markets responded positively following the CPI release, with ADA climbing back above the $0.40 threshold. If this recovery maintains momentum, capital inflows could gradually return to digital assets ahead of the Federal Reserve’s policy meeting later this month.
That said, most market participants believe that a Fed decision to keep interest rates within the 3.50%–3.75% range has already been largely priced in, limiting the scope for an immediate macro-driven rally.
Futures Market Signals Caution as Retail Interest Remains Weak
Despite the recent price rebound, retail interest in Cardano remains subdued following the October 10 flash crash, during which multiple recovery attempts were quickly met with selling pressure.
According to CoinGlass, ADA futures Open Interest (OI) averaged around $742 million on Tuesday, down from $780 million on Monday and $844 million earlier this month. This marks a continued decline from the October 10 level of approximately $1.51 billion, which followed an all-time high of $1.95 billion in mid-September.
If this downward trend in open interest persists, it could indicate weakening trader conviction in ADA’s ability to sustain a strong bullish trend. For a more durable upside move, the market would need to see a clear and consistent recovery in OI, signaling renewed risk appetite and participation from leveraged traders.
Technical Outlook: Cardano Reclaims a Key Support Zone
From a technical perspective, Cardano is holding firmly near $0.40, supported by improving macro sentiment following the softer US inflation data.
Notably, ADA remains above both the 50-period and 100-period Exponential Moving Averages (EMA), which are currently clustered around the $0.39 region and acting as important short-term support levels.
On the 4-hour chart, the Relative Strength Index (RSI) has climbed to 54, suggesting that momentum is gradually shifting in favor of buyers. A continued rise in RSI could serve as a catalyst for a stronger short-term recovery.
At the same time, the MACD indicator is showing early signs of a bullish divergence. If the histogram bars above the zero line continue to expand, investor risk tolerance may improve further.
A sustained daily close above the 200-day EMA near $0.39 would be a critical confirmation signal for the bullish short-term structure. Such a move could open the door for a push above $0.42, while a retest of the January high at $0.437 would require an additional upside move of nearly 10% from current levels.
Conclusion
Cardano’s recent rebound reflects improving macro conditions and a broader recovery in crypto sentiment following softer US inflation data. However, declining futures open interest and muted retail participation suggest that caution remains warranted.
For ADA to establish a sustainable uptrend, both technical confirmation and renewed participation from derivatives markets will be essential in the coming sessions.
This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research before making any investment decisions. The author is not responsible for any financial losses.
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Despite the digital asset market closing 2025 on a relatively weak note, the broader crypto industry is showing clear signs of a structural transformation. Rather than being driven primarily by retail momentum trading, the market is gradually shifting toward an ecosystem shaped by institutional capital, long-term holding strategies, and deeper integration with traditional finance.
This is the central conclusion of Binance Research’s latest weekly macro report, which describes the current phase as a “structural inflection point” for digital assets. According to the report, several emerging catalysts — including potential government accumulation in developing markets and renewed legislative efforts in the United States — are laying the groundwork for a more institutionalized crypto market.
From Retail Momentum to Structural Adoption
Binance Research notes that crypto markets are moving away from short-term, sentiment-driven cycles dominated by retail traders. Instead, capital allocation decisions are increasingly influenced by balance-sheet strategies, regulatory clarity, and portfolio diversification considerations at the institutional level.
This transition began accelerating after the approval of US spot Bitcoin ETFs in early 2024. While that milestone marked the first wave of institutional adoption, Binance argues the market has now entered a second institutional wave, characterized by deeper participation from traditional financial institutions — not just as distributors, but as product creators and market architects.
Morgan Stanley Signals a New Phase of Institutional Involvement
As evidence of this shift, Binance Research highlights recent S-1 filings by Morgan Stanley related to Bitcoin and Solana ETFs. These filings suggest that major Wall Street firms are beginning to take on dual roles: both distributing crypto investment products and actively shaping them from inception.
This development represents a meaningful escalation in institutional engagement. Rather than passively offering crypto exposure to clients, large financial institutions are positioning themselves as first movers in a rapidly evolving digital asset management segment.
Binance Research suggests that this early positioning could place competitive pressure on other major financial players such as Goldman Sachs and JPMorgan, potentially forcing them to accelerate their own crypto strategies to avoid falling behind in a new and growing asset class.
MSCI Risk for Digital Asset Treasury Firms Temporarily Eases
The report also revisits concerns that previously weighed on companies holding significant digital assets on their corporate balance sheets — often referred to as Digital Asset Treasury (DAT) firms. These companies faced the risk of being removed from MSCI indices, a move that could have triggered up to $10 billion in forced selling.
However, this risk has temporarily subsided following MSCI’s decision not to exclude DAT companies from its market indices at this time. While not a permanent resolution, the announcement has reduced near-term structural selling pressure and removed a key overhang from the market.
Macro Environment May Favor Crypto Into 2026
From a macroeconomic perspective, Binance Research views the current environment as potentially supportive for digital assets heading into 2026. One key factor is the growing push for portfolio diversification, particularly as investors reassess their exposure to highly concentrated equity markets.
The report points to the sustained valuation premium of the so-called “Magnificent Seven” technology stocks, where enthusiasm surrounding artificial intelligence has driven market returns into a narrow group of mega-cap companies. In 2025 alone, the top 10 companies in the S&P 500 accounted for approximately 53% of the index’s total gains, raising concerns about crowding and concentration risk.
As a result, institutional investors may increasingly seek alternative sources of return and diversification, creating a gradual but persistent tailwind for digital assets as part of broader multi-asset portfolios.
Is the Bitcoin Four-Year Cycle Losing Relevance?
Binance Research also highlights growing debate around the long-standing four-year Bitcoin cycle model. Some market participants argue that collective expectations around this cycle may now be influencing behavior in ways that undermine the model itself.
One investor on X outlined a scenario in which widespread belief that 2026 will be a “down year” leads to accelerated selling in 2025. This early selling pressure could effectively pull forward the downturn, breaking the traditional cycle and leaving 2026 as a more open-ended environment for price discovery.
Notably, Bitcoin is currently up approximately 2.5% year-to-date in 2025, adding further nuance to the discussion. If institutional capital continues to accumulate steadily, historical cycle patterns may give way to structural demand-driven dynamics.
Conclusion
Binance Research’s latest analysis suggests that crypto markets are entering a new phase — one defined less by speculative retail flows and more by institutional strategy, regulatory integration, and macro-driven allocation decisions. With firms like Morgan Stanley taking a leading role, the second institutional wave could reshape how digital assets are valued and positioned within global portfolios.
While risks and uncertainties remain, the broader direction points toward deeper structural adoption rather than short-lived speculative cycles.
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any financial decisions. The author is not responsible for any investment outcomes.
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Bitcoin (BTC) extended its weekly rally and briefly climbed above $96,000, setting a fresh short-term high, even as US lawmakers once again postponed discussions around the CLARITY Act — a key legislative proposal aimed at defining the future structure of the US crypto market.
The price action highlights a notable shift in market behavior. Unlike previous regulatory delays that often triggered volatility or panic selling, Bitcoin has remained resilient, signaling growing confidence among investors and reinforcing its evolving role as a maturing institutional asset.
Bitcoin Remains Stable as CLARITY Act Review Is Pushed Back
According to official statements, several US Senate committees, including the Agriculture Committee and the Banking Committee, have decided to delay the review of the CLARITY Act until the final week of January. Senate Agriculture Committee Chair John Boozman confirmed the postponement, citing unresolved disagreements over key issues such as stablecoin incentives, DeFi oversight, and regulatory authority between federal agencies.
While market expectations had already shifted toward a potential approval timeline in 2026, the additional delay adds another layer of uncertainty to the regulatory outlook. However, Bitcoin’s price behavior suggests that investors are largely unfazed by the news.
Over the past 24 hours, BTC traded within a relatively tight range. The price briefly dipped below $91,000 before staging a strong rebound during the New York trading session, pushing above $96,000 and later stabilizing around $95,700 at the time of writing.
Notably, the absence of aggressive sell-offs following the CLARITY Act delay contrasts sharply with earlier regulatory scares, where exchange inflows surged as traders rushed to reduce exposure.
On-Chain Metrics Signal Investor Patience
Data from XWIN Research indicates that net exchange inflows remain low, suggesting that investors are not positioning for a sudden downside move. This behavior reflects confidence in the broader market structure rather than short-term speculation.
Additional confirmation comes from the Spent Output Profit Ratio (SOPR), which has been hovering around or slightly below 1.0. This metric suggests that profit-taking remains limited, with on-chain activity showing no signs of widespread distribution.
Together, these indicators point to a market dominated by long-term holders, who appear willing to wait rather than rotate capital aggressively. From a macro perspective, the CLARITY Act is increasingly viewed as a long-term integration milestone rather than an immediate risk catalyst.
Even without formal passage, Bitcoin continues to evolve into a more institutional-grade asset, gradually decoupling from regulatory headline-driven volatility.
ETF Liquidity Pressure and Weak Retail Participation Limit Bullish Momentum
Despite Bitcoin’s resilience, caution remains warranted. Analyst Darkfost recently highlighted the largest liquidity contraction on record across spot Bitcoin ETFs. With an average ETF entry price near $86,000, a significant portion of capital that entered following the October 2025 all-time high is currently under pressure.
More than $6 billion has flowed out of spot Bitcoin ETFs, although outflows have begun to stabilize over the past two weeks. This suggests that while panic selling has subsided, confidence has yet to fully return.
Meanwhile, retail participation remains notably subdued. Data from CryptoQuant shows that BTC demand from small investors — defined as transactions between $0 and $10,000 — has been deeply negative over the past 30 days. This stands in stark contrast to previous bull market phases, where retail demand often surged during price expansions.
As a result, the current price range appears to be supported primarily by institutions and large investors, rather than broad-based retail inflows.
Adding to this cautious outlook, the Coinbase Premium Index has yet to turn decisively positive. Market commentator CryptoGodJohn noted:
“The most important indicator to watch is the Coinbase premium. Until that flow turns positive, I don’t believe we’ll see a strong upside expansion.”
Conclusion
Bitcoin’s ability to approach $96,000 despite regulatory delays underscores the asset’s growing maturity and institutional backing. However, weakening ETF liquidity and limited retail participation suggest that upside momentum may remain constrained in the near term.
As the market waits for clearer regulatory direction and stronger demand signals, Bitcoin appears to be entering a phase of consolidation rather than exuberant expansion.
This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research before making any investment decisions. The author is not responsible for any financial losses.
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