January 21
1. Bitcoin Market: Bitcoin is experiencing a unilateral decline, with the lowest around 87,700. The current position makes chasing short positions quite awkward, and going long is even less advisable. Friends holding no positions, just keep watching the show; ETH follows Bitcoin downward, currently trading at $2,944.
2. Altcoin Market: While Bitcoin underperforms, altcoins are showing exciting developments. AIA surged over 400% in a short period yesterday before correcting downward, now around 0.25; RIVER continued its rebound from yesterday, reaching a high of $38.5, setting a new all-time high; FHE performed strongly, hitting a new all-time high; NOARIS led the rally, doubling in a short time this morning; Chinese meme coins experienced a collapse-like broad decline, and notably, this decline had very low trading volume, indicating that no one is really playing anymore. There are no connected positions either. I previously wrote an article titled "Chinese Meme Coins, the Sword of Damocles?" explaining why Chinese meme coins are unlikely to surge significantly. Feel free to check it out if you're interested.
3. Neighboring Markets: US stocks plummeted, with the Nasdaq down over 2%, Nvidia and Tesla crashing; the Chinese A-shares are weak and volatile; gold surged to a new all-time high, silver followed with a 6% increase; Bitcoin has no bottom, and gold and silver have no top; Gate recently launched Gate TradFi, so those interested in trading gold and silver can give it a try; oil prices rebounded slightly.
4. The Solana-based token “US Oil” (USOR) surged over 150% on Monday, with its market cap briefly surpassing $40 million, driven by traders linking it to news about the US selling Venezuelan oil assets.
5. Trump is seeking a “decisive” military plan against Iran, including regime change options.
6. Institutional and On-Chain Activity: Maggi Big Brother’s 25x leveraged ETH long position has been liquidated, with a total loss of $24.5 million; a whale bought 20,000 ETH from an on-chain exchange, worth about $60 million; BitMine increased its holdings by approximately 35,200 ETH last week, with total holdings exceeding 4.2 million ETH.
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