Glassnode: Current Market Exhibiting Typical Characteristics of a Prolonged Bear Market Phase

On January 3rd, data from Coinglass indicates that if Ethereum (ETH) breaks above $3,200, the cumulative short liquidation intensity across major centralized exchanges (CEXs) will reach $907 million. Conversely, should ETH drop below $3,000, the cumulative long liquidation intensity on these mainstream CEXs will hit $916 million. BlockBeats Note: Liquidation charts do not show the exact number or value of contracts at risk of liquidation. Instead, the bars on these charts represent the relative importance of each liquidation cluster compared to neighboring clusters—meaning "intensity." In short, the charts reflect how strongly the underlying asset’s price will react when it hits a specific level: A taller "liquidation bar" signals a more intense price response upon reaching that level, fueled by a surge in liquidity.

On January 3rd, data from the **Coinbob Popular Address Monitor** (via Coinbob_track_CN on Telegram) reveals key updates on crypto whale activity across the Hyperliquid exchange: ### Key Whale Movements 1. **BTC OG Insider Whale** Briefly flipped to profit this morning before sliding back to a loss—*no rebalancing was executed*. Total unrealized losses stand at $11.46 million, led by a $9.88 million (7.7% drawdown) ETH long position (avg entry: $3,147; size: ~$630 million). The whale also holds losing BTC and SOL long positions, with a total account size of ~$786 million—ranking **#1 in ETH, BTC, and SOL longs** on Hyperliquid. 2. **CZ Counterparty** Unrealized losses shrank from $27.6 million to $16.4 million. Its ETH long (size: ~$177 million; avg entry: $3,190) is down $5.21 million, while a $77.8 million XRP long is off $11.14 million. This whale is now the **largest XRP long** and **2nd-largest ETH long** on Hyperliquid. 3. **pension-usdt.eth** Transferre

January 3 marks the 17th anniversary of Satoshi Nakamoto mining Bitcoin’s Genesis Block (Block #0) on a small server in Helsinki, Finland, on January 3, 2009. The Genesis Block’s CoinBase data includes a headline from *The Times* newspaper that day: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” The block contained just one transaction, with a block reward of 50 bitcoins. As of press time, Bitcoin is trading at $90,011.13, with a market capitalization exceeding $1.8 trillion.

Two newly created wallets(0x5240 & 0x387c) withdrew 2.08M $APEX($1.06M) from #Bybit 9 hours ago.

**On Jan 3, OnchainLens data shows that as PEPE started to edge higher, the James Wynn address opened a 10x leveraged long position on the memecoin.** **Key Details:** - Entry price: $0.005218 - Liquidation price: $0.005381 - Total position size: $1.62 million - Current unrealized profit: Over $210,000

On January 3rd, Easy Lihua—founder of Liquid Capital (formerly LD Capital)—took to social media to share his takes: “Why are investors like Buffett and Duan Yongping respected? Because they make money from value and trends, not speculation.” “This year’s trend is a bull market. Neither the macro environment nor the industry’s development stage is something we can control; we can only spot trends and follow them. Lately, I’ve seen bears still clinging to their short positions, but as we noted before: in a 26-year bull run, bears who closed their shorts early only took small losses. Waiting longer would lead to massive, devastating losses.” “Anyone still bearish on the market is either just talking the talk or cannon fodder. After over a month of volatility (bulls vs. bears), bulls will surely grow complacent. Pessimists are always right in hindsight, but optimists are the ones who move forward.”