Bitcoin (BTC)

Market Maker Update: $188.3m $BTC sent to Wintermute, Jump and Galaxy. https://t.co/Nz5vzYyLgk

The government's policy is to add the seized BTC to the digital asset reserve. Not a sale but “holding”. The view is shifting to treat crypto assets not as a temporary disposal target but as a strategic asset on the nation's balance sheet. https://t.co/xoQwpVZf5R

According to Glassnode @glassnode, During the bottom formation phase in November–December, supply accumulation was mainly driven by large players while small players were selling. This divergence is due to both the reorganization of exchange-related wallets and the fact that large investors were picking up the dip. In the bottom price range, the "actors" are always distinct. https://t.co/XN6EadFGoY

The crypto asset Fear & Greed Index is “32”, a fear zone. The market is cooling quietly, and sentiment is retreating. At this level, short‑term confidence is low, while in the mid‑to‑long term “who is picking up” becomes more important. Rather than price, we want to look at flow and the quality of participants. https://t.co/3yfBCx9MHq

Ki Young Ju According to @ki_young_ju, CryptoQuant now supports Coinbase’s latest wallet shuffle specification, enabling near‑real‑time, high‑precision tracking of BTC inflows and outflows. Coinbase frequently changes its wallet structure for privacy reasons, but CryptoQuant reverse‑engineers these changes and updates its proprietary clustering logic. To avoid misidentification, they label only “wallets that can be confirmed 100% as Coinbase,” emphasizing that a larger number does not necessarily mean higher accuracy. Moreover, the AOP published by Coinbase mixes exchange balances with custodial balances, making it still difficult to isolate pure exchange reserves. At present, the most reliable metric they can track is the actual exchange hot‑wallet balance.

Jeff Park discusses Morgan Stanley's ETF strategy. Bitcoin is a “hedge against end-risk.” Solana is a “meme-style leverage that bets on human speculation,” with low latency as its weapon. By contrast, Ethereum is evaluated as being in a “mid-way position” – neither a pure store of value nor the fastest trading platform. He also describes Morgan Stanley as a “sleeping giant.” With its massive wealth-management network and distribution power, its ability to deeply embed crypto assets suggests it may evolve differently from BlackRock.

Santiment @santimentfeed reports that, Bitcoin is adjusting down to $89.4K while gold and silver continue to rise. Nevertheless, large accounts referred to as whales and sharks are steadily accumulating. - Wallets holding 10–10,000 BTC: +36,322 BTC (+0.27%) over the past 9 days - Small wallets holding less than 0.01 BTC: -132 BTC (-0.28%) over the past 9 days The scenario where “smart money buys and retail sells” has been seen before breakouts. Despite geopolitical risks, a bullish divergence persists in the long term.