On January 19, 2026, on the same day in the UTC+8 time zone, the statements from the four major tech tycoons, Animoca Brands co-founder **Yat Siu** and former Binance head **CZ**, suddenly brought the long-term positioning of gold and Bitcoin into question. This wave of opinion shock is not just a single point of noise, but rather a direct collision with the trend of institutions viewing Bitcoin as a "gold-like reserve asset," and it also reflects the shift in the crypto narrative from being politically driven to being utility-driven.

This week, within the time zone of UTC+8, the technical details regarding the **"restricted Turing completeness" feature of digital RMB smart contracts** have been discussed more publicly. Meanwhile, the cryptocurrency market experienced extreme fluctuations, with Bitcoin briefly dropping over 3% and approximately **$750 million** liquidated within 4 hours. On one side, there is the central bank-led programmable currency cautiously advancing within safe and controllable boundaries; on the other side, the public chain world is left to leverage, memes, and emotions in a fully Turing complete open environment.

On January 10th, Eastern Standard Time, a long-silent whale wallet suddenly "awoke" on-chain, not due to the owner's actions, but because of a large-scale asset transfer following a breach of the wallet. Over **$282 million** in funds was rapidly split, cross-chained, and exchanged within a few hours, with some being directed into the still-active mixing protocol **Tornado Cash**. The funds migrated from the original address to relay addresses such as **0xF73a…5cc21**, and then into

This morning, Bitcoin fell below 94,000, and ETH broke 3,200. Can this round of rebound come back?

The market has completed a high volatility washout through a sharp decline, and short-term sentiment has been excessively released. We are currently in a critical window for technical repair and structural reshaping. In trading, it is advisable to respond flexibly to rebounds and patiently wait.

This week in East 8 Time, the cryptocurrency market has once again seen extreme leverage cases amid severe fluctuations and a wave of liquidations—whale address "255 BTC Sold" was reported to frequently reverse its long and short positions during significant volatility: first, it collectively closed ETH, BTC, and SOL long positions and then went short, quickly recording a loss of about **$16.14 million**, and then shortly after, heavily went long with high leverage. This dramatic path of first taking large losses and then doubling down on bets has made it a current

In this week's trading in the East 8 Time Zone, the leverage risk in the Ethereum derivatives market quickly converged, with prices repeatedly tugging in the range of approximately $3,100 to $3,300. Around this narrow range, long and short funds confronted each other through futures, stETH leverage structures, and large whale positions. The intertwining of high-leverage positions and potential liquidation risks amplified the market's sensitivity to every price fluctuation.

Trump publicly declared at the White House that if European countries do not cooperate with the United States in acquiring Greenland, tariffs will be imposed on products from Denmark, Sweden, France, Germany, and other countries. As soon as the news broke, the global market reacted like a stone thrown into a lake, with ripples quickly spreading. Several EU countries immediately considered retaliatory tariffs on goods worth 93 billion euros exported to the U.S. The escalating tension not only stirred the traditional commodity markets such as gold and crude oil but also caused tremors in the digital asset space, including Bitcoin.

Bitwise LINK spot ETF launched, with a total net inflow of $2.59 million for the US LINK spot ETF in a single day.

Highlights of the week from January 19 to January 25.

Short-term bullish

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