According to a report by Odaily Planet Daily, Glassnode published an article on the X platform stating that the STH-NUPL metric (a measure of the ratio of unrealized profits/losses of new investors to the market capitalization of short-term holders) shows that new investors have been consistently in a net unrealized loss state since November 2025. The analysis indicates that for this group to return to a net profitable state, the price of Bitcoin needs to rise to above approximately $98,000. This data reflects the short-term market pressure, and the recovery of short-term investors' profits still depends on the stabilization of the Bitcoin price and a breakthrough of key resistance levels.

According to Lookonchain monitoring, today the US Bitcoin ETF saw a net outflow of 1,106 BTC, the Ethereum ETF saw a net inflow of 9,171 ETH, and the Solana ETF saw a net inflow of 41,134 SOL.

According to an article published on the X platform by Wintermute, the traditional four-year Bitcoin cycle is becoming obsolete. Market performance is no longer determined by a self-fulfilling timeline, but rather by the flow of liquidity and the concentration of investor attention. Wintermute's over-the-counter (OTC) flow data shows that the transmission of crypto-native wealth weakened in 2025. ETFs and DATs have evolved into "walled gardens," providing sustained demand for large-cap assets, but capital does not naturally rotate into the broader market. 2025 became an extremely concentrated year as retail investor interest shifted to stocks, with altcoin rallies averaging 20 days, down from 60 days in 2024. For the market to break free from the limitations of mainstream cryptocurrencies in 2026, at least one of the following three things needs to happen: 1. ETFs and DATs expand their investment scope, with ETF applications for SOL and XRP already emerging. 2. Mainstream cryptocurrencies perform strongly, with a strong rally in Bitcoin or ETH potentially generating a wealth effect and spreading to the wider market. 3. Retail investor attention is shifting from stocks (AI, rare earths, quantum mechanics) back to cryptocurrencies, bringing new capital inflows and stablecoin minting. The outcome in 2026 will depend on whether one of these catalysts can significantly broaden liquidity beyond a few large-cap assets, or whether centralization will continue.

According to Odaily Planet Daily, Adam, a macro researcher at Greeks.live, stated in an article on the X platform that the recent rebound in the crypto market is far from a bull market. Market sentiment is currently very poor, and Bitcoin faces significant resistance above $100,000. Unless there is extremely strong buying pressure to push it up, the gradual decline will continue. Options data confirms this: implied volatility (IV) continues to fall, skew remains negatively biased, and put options continue to account for the largest share of trading volume—all signs of market weakness.

According to Odaily Planet Daily, PancakeSwap announced on the X platform that its proposal to reduce the maximum supply of CAKE has been approved, and the maximum supply of CAKE has been adjusted to 400 million pieces.