This wave of rebound is quite fierce. BTC has been rising for 5 consecutive days on the daily chart since January 1st, and on January 5th, it directly broke through the $93,000 mark. Ethereum is also not to be outdone, firmly above $3,200. Meme coins like PEPE, BONK, PENGU, and BOME have surged one after another, taking turns leading the gainers.

From the trend, BTC has not experienced four consecutive months of decline since 2019. This time, since October, it has been bottoming out for three consecutive months, with the lowest near $80,000. Now, regaining the $93,000 level truly signifies something.

The shorts have been severely punished. According to Coinglass data, the total liquidation amount across the entire network in the past 24 hours reached $216 million, with $168 million of that from short liquidations. This indicates that many people bet on a decline, only to be violently hit back.

Market sentiment is also shifting. After more than three months of low levels, the Fear and Greed Index today rarely touched 42, returning to a relatively neutral state. This is a signal—the investor mindset is easing from extreme panic.

Not only the crypto market, but global risk assets are also rising today. Japanese and Korean stocks lead the gains, with the Korean KOSPI index rising over 2.27% in the early trading session, breaking through 4,400 points for the first time and hitting a new all-time high. The Nikkei 225 index soared over 1,100 points, just 2% shy of its all-time high. A-shares also moved higher, with the Shanghai Composite opening up 0.46%, approaching the 4,000-point mark. The Hang Seng Index is also strong.

This broad rally across asset classes usually reflects expectations of loose market liquidity. The underlying logic may be related to the global central bank policy orientations, but it’s not yet clear. However, from a data perspective, this rebound does have some significance.