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On January 17, CryptoQuant analysis stated that the recent approximately 21% rise in bitcoin is more like a brief rebound in a bear market rather than a sustained recovery, as market demand remains weak. Bitcoin previously rebounded after falling below the 365-day moving average but failed to reclaim this average (around $101,000), showing a trend similar to 2022. CryptoQuant pointed out that the failure to break through the moving average has often triggered a new round of declines in past bear markets, and current technical indicators show that the market is still in a bear phase.

BlockBeats News, January 17, On-chain data analytics company CryptoQuant pointed out that the recent Bitcoin price rebound appears to be more of a short-lived recovery than a sustained recovery, as market demand remains weak. In its Friday report, CryptoQuant stated: "Bitcoin has risen by 21% since November 21, which seems to be a bear market rebound. The demand situation has slightly improved but still appears weak." A bear market rebound refers to a sharp price recovery within an overall downtrend, but it does not change the fundamental bearish market structure. Research director Julio Moreno stated that behind this Bitcoin rebound, the continued trend of shrinking demand persists. After previously falling by about 19% and breaking below the 365-day moving average, Bitcoin has risen by about 21% since November 21. CryptoQuant considers this moving average as a key dividing line between bull and bear market conditions. Once Bitcoin falls below this average, it confirms the arrival of a bear market. Analysts pointed out that the current price trend is highly similar to the situation in 2022—back then, Bitcoin also saw a strong rebound after breaking below the 365-day moving average but was blocked near this average and resumed its decline. According to CryptoQuant data, Bitcoin is once again approaching this long-term average (currently around $101,000), but has not yet successfully recovered. The company stated that in past bear markets, similar failures to reclaim this average often triggered a new round of declines. "At that time, many market participants believed that the bear market had ended, the four-year cycle was broken, and the supercycle was about to come—this sentiment is quite similar to the current market," CryptoQuant wrote, "However, fundamentals and various technical indicators still show that we are still in a bear market."

According to Odaily, Tang Bo, Associate Dean of the Institute of Financial Research at the Hong Kong University of Science and Technology, stated that gold tokenization is becoming the most promising track in the tokenization of real-world assets (RWA). The value of gold as a safe-haven asset is returning, and tokenization technology will endow this ancient asset with brand new financial attributes. Gold tokenization is different from traditional gold ETFs. Gold tokens are certificates that correspond 1:1 to physical gold, and holders can directly withdraw the physical gold from the vault, whereas ETFs are merely asset certificates. More importantly, gold tokens can generate interest on the blockchain and further activate the financial attributes of gold through mechanisms such as collateralized lending. (21st Century Business Herald)