Foresight News 消息，Matrixport 发推表示，「新年在仓位更轻、杠杆更低的状态下起步往往更利于市场完成再平衡，价格运行也更容易回到更自然的节奏。自 2025 年 10 月高点以来，BTC 与 ETH 期货未平仓规模对应的杠杆已累计出清近 300 亿美元。进入 2026 年，仓位更轻、投机性过热明显降温。随着拥挤交易退潮，比特币及其他加密资产的价格运行更可能回归基本节奏，上行空间也随之打开。」

<p>Foresight News 消息，Matrixport 发推表示，「新年在仓位更轻、杠杆更低的状态下起步往往更利于市场完成再平衡，价格运行也更容易回到更自然的节奏。自 2025 年 10 月高点以来，BTC 与 ETH 期货未平仓规模对应的杠杆已累计出清近 300 亿美元。进入 2026 年，仓位更轻、投机性过热明显降温。随着拥挤交易退潮，比特币及其他加密资产的价格运行更可能回归基本节奏，上行空间也随之打开。」</p>

Matrixport：自 2025 年 10 月以来，BTC 与 ETH 期货未平仓规模对应的杠杆已累计出清近 300 亿美元

According to Foresight News , Matrixport tweeted, "Starting the new year with lighter positions and lower leverage is often more conducive to market rebalancing, and prices are more likely to return to a more natural rhythm. Since the October 2025 high, nearly $30 billion in leverage corresponding to open interest in BTC and ETH futures has been cleared. Entering 2026, lighter positions and a significant cooling of speculative overheating are expected. As crowded trades recede, the price movements of Bitcoin and other crypto assets are more likely to return to their fundamental rhythm, opening up upside potential."

<p>According to Foresight News , Matrixport tweeted, &quot;Starting the new year with lighter positions and lower leverage is often more conducive to market rebalancing, and prices are more likely to return to a more natural rhythm. Since the October 2025 high, nearly $30 billion in leverage corresponding to open interest in BTC and ETH futures has been cleared. Entering 2026, lighter positions and a significant cooling of speculative overheating are expected. As crowded trades recede, the price movements of Bitcoin and other crypto assets are more likely to return to their fundamental rhythm, opening up upside potential.&quot;</p>

Matrixport: Since October 2025, nearly $30 billion in leveraged open interest in BTC and ETH futures has been liquidated.

Nike reportedly quietly sold its digital product subsidiary RTFKT last December, marking a significant shift in the fashion giant's Web3 strategy and digital assets.

Nike has quietly sold its NFT studio.

Wall Street bank Morgan Stanley recently officially filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot Ethereum ETF, further expanding its strategy to penetrate the market...

Morgan Stanley has filed an application to launch an Ethereum spot ETF.

Author: Yuanshan Insights
Data Source: Farside Investors, SoSoValue, Fed H.4.1 Report, CryptoQuant

On the first trading day of 2026, BTC ETF saw a net inflow of $471 million.

What does this figure mean?

In November and December, the combined net outflow of spot BTC ETFs was approximately $4.57 billion; with a net outflow of approximately $1.09 billion in December alone.

Many people frantically sold at a loss above 93K, and institutions bought back about one-tenth of that amount on January 2nd alone.

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