[Analysis Suggests Bitcoin's Four-Year Cycle May Face Structural Divergence] The validity of Bitcoin's four-year cycle has become a focal point of discussion. Some argue that the cycle should not extend to 2026, as ETFs have already absorbed $57 billion in capital inflows. On the other hand, opponents believe the cycle remains intact, with historical patterns showing coincidental timing, such as Bitcoin's local bottom price of $80,524 on November 21, 2025, coinciding with the low of $15,460 on November 21, 2022. The market is closely watching the U.S. Crypto Market Structure Bill hearing scheduled for January 15, 2026, which could become a critical turning point for the cycle.

[Owlto Finance Announces OWL Tokenomics Model, Initial Circulation at 16.5%] Cross-chain interoperability protocol Owlto Finance announced the OWL tokenomics model today. OWL will serve as the core token of the multi-chain interoperability ecosystem, used for protocol governance, revenue distribution, and cross-chain transaction fee discounts, with an initial circulation of 16.5%. The token allocation includes: 15% airdrop, 22% community, 10.33% ecosystem, 2.5% marketing, 7.5% liquidity, 7% exchange airdrop, 15.67% investors, 15% team, and 5% advisors. Tokens allocated to the team, investors, and advisors will have a 12-month lock-up period.

[Sei Warning: USDC.n Holders Must Exchange for Native USDC Before Upgrade] Crypto project Sei advises USDC.n holders to exchange their USDC.n tokens for native USDC before the SIP-3 upgrade planned for March. USDC.n is an older version of USDC issued via the Noble blockchain, with a current circulation of approximately $1.4 million. After the upgrade, the Sei network will fully transition to a blockchain supporting the Ethereum Virtual Machine (EVM) and gradually phase out the CosmWasm smart contract framework and Cosmos native assets. The Sei team warns that USDC.n may become unusable or lose its value after the upgrade.

BitMEX's annual report details the impact of the Oct crash on market liquidity, basis trades and other key issues.

[Upbit Hacker Transfers Funds to Tornado Cash, 1,400 ETH Transferred] According to MistTrack monitoring, the attacker (address starting with 0x93A0) involved in the Upbit hacking incident (causing approximately $36 million in losses) is continuously transferring funds to Tornado Cash. So far, 1,400 ETH has been transferred.