California’s finance watchdog claims Nexo made nearly 5,500 loans to 
Californians without a valid license and did not properly assess their ability 
to repay.

Nexo to pay $500K fine to California regulator over ‘risky loans’

Bitcoin has pushed above the $97,000 level, extending a recovery that has 
brought short-term relief to a market weighed down by weeks of uncertainty. 
While the move has reignited optimism among some investors, a large share of 
analysts remains cautious, arguing that the rally could still be a counter- 
trend bounce within a broader bearish setup for 2026. Price strength alone, 
however, does not fully explain the current move. According to a CryptoQuant 
analyst, Bitcoin has shown notable resilience after decisively breaking the 
$94,200 resistance zone and accelerating toward the $97,500 area, with on- 
chain data offering important context behind the advance. Related Reading: 
Bitcoin Bulls Take Control: Futures Positioning Turns Bullish for First Time 
Since October One of the key indicators supporting this move is Value Days 
Destroyed (VDD), a metric that sheds light on long-term holder behavior. VDD 
measures how long coins remained inactive before being spent, weighted by 
transaction size. In simple terms, it helps distinguish whether price 
movements are driven by experienced holders distributing old coins or by newer 
coins changing hands. As of January 2026, VDD is hovering around 0.53, a 
historically low reading. This implies that the coins currently moving on the 
network are relatively young, while older holdings remain largely dormant. 
Such behavior suggests that long-term holders are not rushing to sell into 
strength, lending structural support to the recent breakout—even as the 
broader market debates whether this surge marks renewed strength or merely a 
temporary reprieve. Long-Term Holders Reinforce Bitcoin’s Breakout Quality The 
report by Carmelo Alemán, Verified On-Chain Analyst at CryptoQuant, highlights 
an important dynamic behind Bitcoin’s recent move above key resistance levels. 
Despite the sharp price appreciation, long-term holders remain largely 
inactive. In practical terms, this means that investors who have held Bitcoin 
through multiple cycles are not using the current strength as an opportunity 
to exit positions. Their restraint significantly improves the quality of the 
rally. Historically, this behavior has mattered. When Bitcoin advances while 
Value Days Destroyed (VDD) stays low, it signals that older coins are not 
entering circulation. Demand is being met primarily by younger supply, 
allowing price to rise without triggering structural selling pressure from the 
most experienced market participants. These phases have often aligned with 
healthier expansion periods rather than short-lived speculative spikes. The 
current breakout fits that historical pattern. Bitcoin’s move through 
resistance has not been accompanied by a surge in long-dormant coins being 
spent. Instead, long-term capital appears comfortable holding through higher 
prices, suggesting confidence in the broader market structure rather than 
urgency to lock in gains. This supportive backdrop remains conditional. As 
long as VDD stays suppressed, the rally retains a strong foundation. However, 
a sustained increase in the indicator would change the narrative, signaling 
that long-term holders are beginning to distribute and potentially marking a 
shift toward heavier selling pressure. Related Reading: OG Bitcoin Selling 
Slows Sharply: Long-Dormant Coins Go Quiet Price Tests Key Resistance After 
December Rebound Bitcoin price is trying to stabilize after a sharp rebound 
from the December lows, with the chart showing BTC reclaiming the 
$96,000–$97,000 zone. This level coincides with a confluence of technical 
factors, making it a critical area for short-term direction. The recent 
recovery followed a strong sell-off from the November highs. Where the price 
broke below the 50-day and 100-day moving averages and briefly capitulated 
toward the low $80,000s. From a structure perspective, BTC is now printing 
higher lows on the daily timeframe, signaling a potential short-term trend 
reversal. Price has also reclaimed the 50-day moving average, which often acts 
as dynamic resistance during downtrends. Holding above this level would be 
constructive, as it suggests buyers are regaining control after weeks of 
distribution and volatility. Related Reading: Bitcoin LTH SOPR Signals Early 
Capitulation, But Selling Pressure Remains Contained However, overhead 
resistance remains significant. The 100-day and 200-day moving averages, 
currently clustered between $100,000 and $108,000, represent a heavy supply 
zone where previous breakdowns occurred. A failure to push higher could lead 
to renewed consolidation or a pullback toward the $92,000–$94,000 support 
range. Volume has increased during the rebound, showing genuine participation 
rather than a low-liquidity bounce. Still, the broader trend remains unclear. 
For bullish momentum, Bitcoin needs acceptance above $97,000 and a clear 
attempt toward the $100,000 psychological level. Otherwise, the move risks 
being a technical rebound within a larger corrective phase. Featured image 
from ChatGPT, chart from TradingView.com

Bitcoin Reclaims $97K As Long-Term Holders Supply Stays Locked

Bitcoin has become an “element of resistance&#8221; in Iran, providing liquidity in 
an increasingly restricted economic environment, says Chainalysis.

Iran’s crypto ecosystem spikes to $7.8B amid mass protests: Chainalysis

Bitcoin’s next major move may hinge less on sentiment and more on U.S. dollar 
flows, as shifting Federal Reserve liquidity conditions set the stage for a 
potential crypto rebound driven by macro forces. Fed Balance Sheet Reversal 
May Push Bitcoin Price Higher, Arthur Hayes Says Arthur Hayes outlined a 
macro-driven outlook for crypto markets tied […]

Arthur Hayes Says Fed Liquidity Shift Could Send Bitcoin Back Above $110K

The Kaito.ai and Cookie DAO tokens fell over 15% after X’s ban, a move X’s 
head of product Nikita Bier said should improve user experience on the social 
media platform.

Cryptocurrency price in MMK