2026-01-10 15:21:10

The crypto world has truly been a roller coaster these days. The SEC approved 11 spot Bitcoin ETFs, which should theoretically be a big positive, but BTC instantly dropped from $91,999 to $90,500. In 24 hours, it only increased by 0.3%, turning the $90,000 level into a tug-of-war between bulls and bears. Market sentiment is evident—fear and greed index is only at 31. Just after emerging from "extreme fear," investors are now caught in indecision, bouncing back and forth between "buy" and "sell." It’s hard to tell whether to laugh or cry.

The most chaotic part is the liquidation data. Over $5 billion worth of positions were liquidated in just 24 hours. Neither longs nor shorts came out ahead; leverage traders were wiped out. Interestingly, during this turbulence, big institutions like MicroStrategy are actually increasing their bets—adding 1,283 BTC recently, bringing their holdings to 673,000 BTC, with an average cost of $75,000. They tend to buy more when prices fall, leaving retail investors baffled.

Institutional moves are also quite confusing. Despite the SEC approving the ETF, they still emphasize "we do not endorse Bitcoin," and then demand exchanges strengthen anti-fraud measures—these tactics are faster than adding to positions. Interestingly, Bitcoin ETFs have experienced net outflows of $1.128 billion over the past three days, while Ethereum and other coin ETFs are attracting funds—seems like big players are quietly switching tracks.

On the technical side, there’s a major breakthrough. Vitalik recently announced that Ethereum plans to use ZKEVM and PeerDAS to solve the "impossible triangle" of blockchain—achieving decentralization, high consensus, and high bandwidth simultaneously. If successful, it would truly make Ethereum the "world’s computer." The Dencun upgrade is progressing rapidly, with the Goerli testnet scheduled to launch on January 17, and the mainnet expected to go live by the end of February. Once completed, Layer 2 transaction fees will drop significantly, and projects like Arbitrum and Optimism are essentially locking in their dividends early.

BTC0.08%

ETH0.11%

ARB0.09%

OP1.19%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

14 Likes

Reward
14
5
Repost
Share

Comment

0/400

NeverVoteOnDAO

· 16h ago

MicroStrategy is throwing money again, retail investors are cutting losses, this script is always the same $5 billion liquidation, wow, leverage traders are really something ETF outflows are actually attracting Ethereum? Looks like everyone is fleeing Dencun is about to take off? Then I need to see how much Arbitrum can rise

View OriginalReply0

LowCapGemHunter

· 16h ago

MicroStrategy is aggressively accumulating at the $90,000 level, and we're still debating whether to buy or not. The gap is really huge. $5 billion liquidation? Retail investors should wake up; leverage is really playing with fire. ETF net outflows are shifting towards Ethereum. Big players have long seen through this; we need to keep up with the rhythm. The Dencun upgrade has halved L2 fees, making projects like Arbitrum definitely potential stocks. The key is that the price hasn't been pumped up yet. Fear index is at 31. Is this the signal to get in? History always repeats itself. SEC's move is really outrageous. They approve it but then say they don't recognize it—left hand and right hand are slap fighting each other. The crypto world never lacks stories; retail investors always end up holding the last bag. It's hilarious.

View OriginalReply0

UncleWhale

· 16h ago

MicroStrategy's move is truly brilliant. While we're still debating whether to buy or not, they are pouring 670,000 BTC into it. This is a matter of vision and perspective. Retail investors are facing a 5 billion liquidation, while large institutions are increasing their positions. Honestly, this game is not playable for us. When ETFs are approved, they actually see outflows, indicating that the truly smart money has already moved to Ethereum. We're a step behind. If V神's ZKEVM really gets implemented, Ethereum will take off immediately. It might still be possible to catch the bottom of L2 now. Watching the 90,000-dollar tug-of-war is exhausting. It's better to wait for technically certain developments.

View OriginalReply0

StakoorNeverSleeps

· 16h ago

MicroStrategy these guys are really fearless. They’ve been liquidated to 5 billion and still dare to keep throwing money in. It’s painful to watch. --- Is 90,000 just this? Whether the SEC approves or not seems to make no difference. Retail investors are still debating. --- L2 fees are going to drop? Arbitrum is stable with this move. Those who got in early must be laughing to death. --- ETF net outflows are still flowing into Ethereum. It seems big players are really switching tracks. Should I follow or wait? --- The Dencun upgrade is happening so fast. It feels like a bottom signal is coming, but I’m still a bit hesitant. --- Seeing the fear index at only 31, I actually feel a bit worried. Too calm, and that feels off.

View OriginalReply0

PessimisticOracle

· 16h ago

5 billion liquidation, retail investors bloodbath, MicroStrategy is still adding 670,000 coins? The gap is really incredible. Despite approval, Bitcoin ETF is actually experiencing net outflows. The truth is, big players have long since moved to Ethereum. If V God’s ZKEVM really succeeds, then Arbitrum and Optimism will be the true winners, with Layer 2 fees cut. Another round of chopping leeks, what does the index 31 mean? It suggests a second wave of sharp decline is coming. SEC’s tactics are top-notch. Approving an ETF and then immediately denying it—this double standard is almost like a performance art. Dencun launches in January, mainnet in February? If this speed is truly realized, Arbitrum will be the dark horse. Such a tragic liquidation and margin call—how many retail investors can still survive to see the next bull market?

View OriginalReply0