GasWrangler

【Crypto World】An institutional account of a compliant platform recently transferred 973 Bitcoins to a new address, with a total asset transfer value of approximately $85.59 million. This large transfer has been tracked on the blockchain, and the institution's every move often attracts market attention. The purpose and subsequent actions of the new wallet are still unclear, warranting ongoing observation.

MicroStrategy's stock has been declining continuously over the past six months, marking the first time since August 2020, with a total decrease of 59.30%. Despite the company's additional purchase of 1,229 Bitcoins in December, the stock price has not stabilized, indicating a clear disconnect between its accumulation strategy and market performance.

【Crypto World】ETH has shown noteworthy technical changes within the last 4-hour cycle. Compared to the data at 20:00 on December 31, 2025, the price exhibits a clear upward trend, but has pulled back compared to 12:00 on the same day, forming a small bullish candlestick pattern—closing price higher than opening price, reflecting that the bulls still have support.
However, the trading volume performance is somewhat interesting. During the price increase, the trading volume has actually shrunk, indicating a divergence between volume and price. This phenomenon suggests that the upward momentum is gradually weakening; although the bulls are gaining strength, the subsequent pushing space may be limited.
From the technical indicators, the current market is in a delicate balance. The MACD histogram remains negative and is gradually shortening, indicating that the bearish force is weakening; the KDJ indicator value is 62, in a neutral zone, with no clear golden cross or death cross signals, and the market lacks a definitive directional cue. However, the MA10 has already surpassed the MA30, reflecting an advantage in the short-term moving averages.
Technical

【区块律动】Upbit将在1月1日上线Tether Gold(XAUT)现货交易。这个基于区块链的贵金属资产工具支持韩元、比特币和USDT三个交易对，为用户提供了新的链上黄金敞口选择。有兴趣的用户可以关注Upbit平台的相关更新。

In 2025, the yield-bearing stablecoin market is booming, with a total return of over $250 million. sUSDe performed outstandingly, accounting for 24.9%; sUSDS followed closely, accounting for 14.2%. Yield-bearing stablecoins are gradually becoming mainstream, users expect stable returns, and market competition is intensifying.

Ethereum mainnet transaction volume this week hit a record high of 2.2 million transactions, with the average transaction fee dropping to just $0.17. Through continuous upgrades and optimizations, fees have been significantly reduced, demonstrating a remarkable scaling effect.

Ukraine and the United States are discussing post-war security guarantees, potentially maintaining a military presence. Trump says an agreement is imminent, but disagreements remain. Russia's stance is firm, and France clarifies there is no evidence. Increased geopolitical risks will impact the crypto market, with short-term volatility in BTC intensifying. Attention should be paid to key resistance and support levels.

On December 31, a whale began to adjust its holdings of 8,550 ETH, selling at $2,991. Ten hours earlier, it deposited 3,000 ETH into an exchange, worth approximately $8.93 million, currently with a loss of $43,000. Although still holding 5,550 ETH, the unrealized loss is even greater, but its wallet still contains 22,981 ETH, reflecting market sentiment.

【Chain Wen】A Nasdaq-listed health supplement company has undergone a dramatic transformation.
The story goes like this: In October this year, the company completed a $48 million equity financing through oversubscription, with a very clear goal — to accelerate its Bitcoin reserve strategy while expanding its health brand. The financing lineup was quite impressive, attracting exchanges like Kraken and Exodus, as well as multiple investment funds participating as co-investors.
But the turning point came quickly. By December, the company suddenly announced the suspension of its Bitcoin accumulation plan. What was the reason? The official statement shifted to "fully seizing the rapid growth opportunities of consumer health brands." In other words, they decided to change course.
Interestingly, although they canceled the plan to continue buying BTC, the company actually holds 510 Bitcoins, along with over $70 million in cash and equivalents, making their balance sheet still quite healthy.

Some investors are pessimistic about Bitcoin, believing it does not generate cash flow and lacks value. Taking MicroStrategy as an example, holding the coin for five years yields only 16%, far below the performance of other asset classes, causing dissatisfaction among holders.

SRx Health Solutions announces a $10 million investment in digital assets such as Bitcoin and Ethereum, with specific allocation details not yet disclosed. This move marks increased attention from traditional publicly traded companies toward digital asset allocation. As more institutions participate, the professionalism of the crypto asset market is on the rise.

【Crypto World】Recently, discussions about Bitcoin cycles have become increasingly intense, with the focus on whether the "Four-Year Cycle Theory" we've used for many years still holds.
On one side are optimistic voices: institutions are continuously entering the market through ETFs, US regulatory attitudes are noticeably relaxing, and global liquidity is still increasing. Under this new combination of strategies, some analysts believe that the upward trend after the halving can last until 2026, potentially extending or breaking the cycle.
On the other side are those who stick to the original logic, arguing that the market has already entered a bear market and that traditional cycles are still valid. Both sides have their own data to support their claims, and no one is convinced by the other.
The emergence of ETFs has indeed changed the game—massive institutional funds are pouring in, and the market dynamics dominated by retail investors have shifted. But does this mean the cycle is completely invalid, or just extended? The answer may depend on future market performance. In any case, understanding the logic behind these debates is crucial for developing your own

Perpetual contracts may become an important window to assess the crypto market sentiment in 2026, as their real-time data can reflect the true market dynamics. Well-known investment institutions have already begun to enter this field, and it is expected to attract significant liquidity in the future. The industry's self-innovation is also promoting its development.

Bitcoin surged to $90,000 yesterday before pulling back to $87,000, and market sentiment is gradually shifting from panic to rationality. The rebound is mainly the result of short covering, with a lack of new capital inflows. Bitcoin and Ethereum are currently in consolidation phases, with insufficient momentum, and the market is cautious. A stronger fundamental support is needed to achieve a breakout.