Phyrex posted on X. Global fund managers have reduced their cash allocation to a historic low of 3.2%, down from 3.3% a month ago. This indicates that fund managers are holding minimal cash reserves, suggesting a high level of investment and risk appetite. With low cash reserves, market pricing increasingly relies on favorable conditions. If the market direction remains unchanged, low cash levels can act as a stabilizing force, as investors are likely to buy on dips. However, if market conditions shift, the lack of cash can become a vulnerability, leading to asset sales and triggering a chain reaction of redemptions, stop-losses, and risk budget contractions. This situation does not necessarily signal an immediate market peak. In December of last year, cash allocations were similarly low, yet U.S. stocks reached new highs a month later. However, these highs were not driven by institutional buying but rather by external funds or leveraged risk-taking. In the event of uncontrolled negative developments, the impact could be severe due to the lack of cash to absorb losses. The market dynamics are increasingly resembling a risk premium game, where positive developments require additional capital to drive growth, while negative news could be amplified due to crowded positions. The best-case scenario involves a surge in FOMO (fear of missing out) sentiment, with retail investors increasing their purchasing power. Fund managers could then offload some assets to retail investors, allowing them to accumulate cash and re-enter the market when clear positive signals emerge. Conversely, the worst-case scenario mirrors the situation in April, where fund managers liquidated significant assets to rebuild cash reserves, awaiting better institutional opportunities.

CyrilXBT posted on X. The cryptocurrency TAO has experienced a clear distribution at its peak, followed by a pattern of sustained lower highs and lower lows. The price has reverted to previous support levels, which have now become resistance. There is an urgent need for a price rebound to prevent further negative developments in the market.

Pantera Capital has released its outlook for 2026, forecasting a difficult year ahead for cryptocurrencies in 2025, particularly for non-Bitcoin tokens. According to NS3.AI, these tokens have faced declines due to weak value capture, decreased on-chain activity, and waning retail interest. The fund characterizes 2025 as a 'whipsaw' year, marked by market capitulation. Despite these challenges, Pantera Capital expects a recovery in the crypto markets to begin in 2026.

On Jan 23, 2026, 04:14 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 90,000 USDT benchmark and is now trading at 90,000.179688 USDT, with a narrowed 0.12% increase in 24 hours.

1 月 22 日，Web3 投资机构 Jsquare 投资组合企业 BitGo（NYSE: BTGO）在纽交所上市，昨日开盘价约 22.43 美元，盘中涨幅一度超过 20%，收盘稳居发行价之上。Jsquare Founding Partner Joanna Liang 对此表示，BitGo 的强劲表现验证了机构对合规托管赛道长期价值的坚定确信。她指出，作为拥有亚洲基因的 Web3 基金，Jsquare 致力于发挥连接东西方资本的桥梁作用，在全球范围内精准锁定并配置像 BitGo 这样的行业核心资产。

Japan's House of Representatives has been officially dissolved, marking a significant political development. According to PANews, the dissolution was announced during a plenary session of the House of Representatives, where Speaker Fukushiro Nukaga read the dissolution decree. Earlier in the day, Japanese Prime Minister Sanae Takaichi decided to dissolve the House during a cabinet meeting. Following this decision, Takaichi and all cabinet members signed the dissolution resolution.

韩国光州地方检察官办公室约 700 亿韩元（4770 万美元）的查封比特币被盗，当局已展开调查。据报道，检方在例行检查扣押资产时发现比特币丢失，这些加密资产是在一名工作人员访问诈骗网站后，通过钓鱼攻击窃取的。检方拒绝透露具体损失金额和比特币查封时间，仅表示正在"追踪被扣押物品的情况和去向"。此事件发生在韩国海关当局于本周一捣毁一个大型加密货币洗钱网络后。（Cointelegraph）

Farcaster co-founder Dan Romero has confirmed that the Farcaster protocol will continue to operate and will not be shut down. According to NS3.AI, the protocol's acquirer, Merkle, plans to return the $180 million previously raised from investors. Romero also addressed rumors regarding his recent home purchase, providing clarification on the matter.

BofA 全球基金经理调查数据显示，当前基金经理现金持有比例降至历史最低的 3.2%，反映投资者对风险资产的极端看多情绪。（Barchart）

South Korean prosecutors are investigating the loss of a large amount of Bitcoin that went missing while in state custody, with a phishing attack believed to be the cause. The missing funds, linked to an illegal gambling case, are estimated to be worth tens of billions of won, around $48–49 million.

F/m Investments aims to put $6B of TBIL ETF shares on a permissioned blockchain while maintaining full regulatory compliance.

马斯克与贝莱德CEOLawrence Fink达沃斯世界经济论坛展开对话，马斯克表示，未来建设人工智能数据中心最低成本方案，就是把它建在太空中。

稳定币支付卡已成为数字资产与日常商业活动之间的主要桥梁。2025年的转折点源于稳定币与发行和结算流程的更紧密整合，2026年是稳定币卡走向数百万人日常生活的一年

金色财经推出加密货币和区块链行业早报《金色早8点》2945期，为您提供最新、最快的数字货币和区块链行业新闻。

整理了赛道较有代表性的项目，它们从不同层面参与构建机器人经济的未来。

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比特币目前仍处于一个“低参与度”的阶段，价格的波动更多是因为“没人砸盘了”，而不是因为买家有多坚定的信心。

如果每一个国际局势的转折、每一次科技大佬的口水战，都可以被量化为真实的赔率并公开交易，这个世界会变得更清晰还是更疯狂？

代码可以去中心化执行，却难以定义现实，因此真相的「最后一公里」，很难去中心化。