LiquidationWizard

Following President Trump's re-election, financial markets are experiencing volatility. MicroStrategy announced a halt in new Bitcoin purchases while setting a 2025 revenue target of $10 billion from Bitcoin, reflecting complex factors behind its strategic adjustments amid changing accounting rules and tax implications. Meanwhile, several U.S. states are pushing to recognize Bitcoin as a strategic asset, potentially increasing its capital influx. This situation marks a significant shift in the market dynamics surrounding Bitcoin, emphasizing its integration into the global financial system.

Facing a rapid decline in foreign reserves, Iran is exploring alternatives beyond traditional finance. The central bank has invested in dollar-linked digital assets as a countermeasure against currency crises and sanctions, indicating a shift to a resilient financial mechanism.

Vitalik Buterin's paper "Balance of Power" highlights the crucial issue of decentralization in the cryptocurrency industry. He argues that while projects focus on resource acquisition, they often neglect optimizing power structures, leading to increased systemic risks. Effective decentralization requires a strategic design of governance and decision-making processes to ensure long-term sustainability and reliability in the industry.

In a recent interview on "What Bitcoin Did," Michael Saylor, founder and chairman of Strategy, expressed optimism about Bitcoin's adoption, emphasizing institutional growth and regulatory changes as key indicators of market strength. He warned against focusing on short-term price fluctuations, advocating for a long-term perspective on Bitcoin's value as a universal digital capital. Saylor discussed Strategy's vision for a digital credit market, aimed at enhancing corporate credit rather than traditional banking, and outlined the vast potential in this field.

In fall 2025, U.S. government funding programs boosted the quantum computing sector, with companies like D-Wave and Quantum Computing seeing significant stock price increases due to policy support and technological advancements.

In early January, the UK's financial regulatory body announced a new licensing system for crypto asset firms, set to take effect on October 25, 2027. Companies can apply from September 2026, with varying requirements based on their existing licenses. Transition provisions allow businesses to continue operations even if they miss application deadlines.

As of early 2026, the financial markets are at a major turning point. The bullish outlook on gold and silver prices suggested by Incrementum's "In Gold We Trust" report reflects not just fluctuations in commodity markets but the very reconstruction of the global financial system itself. In particular, toward 2030, silver prices and Bitcoin are rapidly increasing their presence.
Behind the report's forecast that "by the end of 2030, gold could reach $8,900" lies a global financial order in chaos and the accompanying changes in investor behavior. In this process, silver prices, as a representative of performance gold, hold the potential for greater upside than gold itself.
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The essay discusses the transformation of the cryptocurrency market from a volatility-driven landscape dominated by individual investors to a more stable market led by institutional investors. This shift is marked by significant changes in trading behavior and a decrease in market volatility, as institutional participation increases, particularly through investments in Bitcoin and Ethereum ETFs. The analysis emphasizes that this evolution does not signify the end of a bullish market but rather a maturation of the cryptocurrency market overall.

Mr. Gary Gensler pointed out the risks and speculative nature of the cryptocurrency market and explained why Bitcoin is treated as an exception. The importance of strict regulatory oversight and investor protection was emphasized. It is also expected to influence future policy formation.

The recent policy change by X has significantly impacted the crypto community, particularly affecting applications reliant on the InfoFi app's API. This has led to a drop in related tokens and a reevaluation of content governance. As X aims to reclaim content control, projects like Cookie DAO and Kaito are forced to adapt, revealing a deeper challenge of content sovereignty and the sustainability of incentive models.

The phenomenon of derivative trading shifting from centralized exchanges to on-chain is not just a technical transition but signifies a redistribution of capital and power within the cryptocurrency market. At the core of this rise are not only infrastructure maturity but also the specialization of trader segments and a fundamental shift in trust models towards protocols.
Why are perpetual futures moving from CEX to on-chain?
Traditionally, perpetual futures trading was the most profitable revenue source for CEXs (centralized exchanges). Through a triple cash flow absorption mechanism—trading fees, funding rates, and additional revenue from liquidation—the platform systematically extracted value from market participants. For DeFi, this market

Charles Schwab analyzes the future trend of Bitcoin, pointing out that long-term support comes from money supply growth, supply deflation, and market adoption, while short-term variables include market sentiment, interest rates, and others. Despite favorable factors, psychological pressure after the halving and institutional investment slowdown may affect performance. It is predicted that Bitcoin will still record positive returns in 2026, but the increase may be below the historical average. Additionally, the correlation between Bitcoin and traditional assets is changing, which could enhance its hedging properties.

Platform X recently faced intense backlash from the crypto community due to proposed restrictions on user interaction frequency, highlighting the challenge it faces between innovation and user experience. Subsequently, the platform launched the "Smart Cashtags" financial tagging feature, aimed at improving information access efficiency in the crypto space, or possibly to soothe community dissatisfaction. However, the timing of this response has sparked speculation about whether it can effectively resolve the tense relationship, which remains to be seen.

Currently, the global financial order is undergoing a significant transformation. The latest "In Gold We Trust" report published by Incrementum clearly demonstrates that the global gold market, including the U.S. gold price, is evolving from a mere commodity market into a core asset in the reconstruction of the world financial system. The report suggests that by the end of 2030, the global gold price, including the U.S. gold price, could reach $8,900, prompting investors to develop new perceptions.
The current U.S. gold price is not just about price increases; it reflects multiple factors such as the wobbling of dollar dominance, strategic buying by central banks, and structural inflationary pressures in the global economy, among others.

After multiple all-time highs at the end of 2025, the Bitcoin market faces a paradoxical dilemma—prices keep hitting new records, but participation enthusiasm continues to cool down. The deeper issue is that the marginal participants who truly determine market movements are quietly exiting. This not only changes the nature of capital flow but also redefines the entire structure of market participants in the crypto space.
When the marginal buyers are absent, what does the market lose? Senior analyst at Primitive Ventures points out that this is the fundamental reason behind the current "artificially inflated" phenomenon in the crypto market. High prices mask a steep decline in the activity of underlying participants—retail trading enthusiasm dissipates, institutional allocations are increasing but mostly passive funds, while those with risk appetite and execution capability have long shifted their focus to US stocks and other traditional assets.
Who has gone missing: the large-scale retreat of marginal participants
The clues can be clearly seen from exchange traffic data.

In early 2025, independent miners generated 36 blocks in the Bitcoin network, showcasing their importance in maintaining decentralization. This achievement, yielding 112.5 BTC in rewards, highlights the ongoing diversity in the Bitcoin mining ecosystem.

This essay explores the crucial role of "demons" in blockchain technology, highlighting their function as autonomous programs that maintain network security, data consistency, and decentralization without user intervention. Demons ensure the integrity and reliability of blockchain systems.

The stablecoin sector is undergoing a redistribution of power. Once dominant issuers with bargaining power are now gradually losing profit margins to payment platforms and circulation channel operators. As a leading industry issuer, Circle is facing a choice—continue to focus on issuing, or actively expand into usage and settlement.
Its latest launch, the Circle Payment Network (CPN) and its proprietary settlement chain Arc, are direct responses to this question.
Issuance is no longer a guaranteed job: changes in the stablecoin economic structure
Circle's traditional business appears stable. Issuing USDC, holding reserves, earning interest, and benefiting from increasing stablecoin circulation. This model once operated smoothly, allowing Circle to grow rapidly and eventually go public.
But financial data is telling a different story.
From Q4 2024 to 20

Web3 in 2025 faces systemic risks, with frequent political manipulation and internal threats. Centralized governance and information asymmetry lead to a collapse of market trust. The issues with stablecoins and financing expose severe risk management deficiencies, calling for stronger regulation and self-repair capabilities.