In the past hour, total liquidations across the network reached $11.23 million, with $2.95 million from long positions, with $8.28 million from short positions. BTC liquidation $2.59 million, ETH liquidation $2.76 million.

Huoxun Finance reported on January 26th that, according to Nikkei, Japan's Financial Services Agency (FSA) is expected to lift the ban on spot cryptocurrency ETFs, including Bitcoin, by 2028. To achieve this, the authorities plan to amend the Enforcement Ordinance of the Investment Trust Act to classify virtual currencies as "specific assets" investable by investment trusts. Reportedly, large financial institutions such as SBI Holdings and Nomura Holdings are already developing related products. If approved for listing on the Tokyo Stock Exchange, individual investors will be able to trade virtual currency ETFs through their securities accounts, similar to buying and selling stocks or gold ETFs. Previous surveys indicated that at least six asset management companies are researching and developing related products, targeting both individual and institutional investors. The lifting of the ban is contingent on tax reform. Currently, Japan uses a comprehensive taxation system for virtual assets, with a maximum tax rate of 55%. Discussions are underway to adjust this to a separate taxation system, with a uniform tax rate of 20%. The report analyzes that this move will expand asset allocation options for individual and institutional investors.

Huoxun Finance News, January 26th - According to The Block, Entropy, a decentralized custody startup backed by a16z, has announced its closure and will return remaining funds to investors. Founder and CEO Tux Pacific stated that after four years of operation, multiple business shifts, and two rounds of layoffs, the company failed to find a business model worthy of venture capital funding. Entropy completed a $25 million seed round in June 2022, led by a16zcrypto, bringing its total funding to approximately $27 million. The company initially positioned itself as a decentralized alternative to centralized custodians like Fireblocks and Coinbase, later shifting its focus to developing a crypto automation platform. The founder stated that the decision to cease operations was made after initial market feedback indicated that its business model was not worthy of venture capital funding.

According to Huoxun Finance on January 26, spot gold broke through the $5,000/ounce mark for the first time in history, just over 100 days after it first broke through the $4,000 mark (October 8, 2025).

According to OnchainLens monitoring, as the market declined, a "whale that shorted after the 1011 flash crash" deposited 20 million USDC into Hyperliquid to avoid liquidation. This whale faces a floating loss of $83.4 million, funding costs of $8 million, and profits have decreased from $142.5 million to $9.7 million. Position details: 223,340.65 ETH (worth $631.85 million); 1,000 BTC (worth $86.99 million); 511,612.85 SOL (worth $61 million).