#数字资产行情上升 2026 marks the beginning of the year, and Bitcoin has completed a round of structural clearing amid market depth adjustments.

$BTC $ETH

The deleveraging process at the end of last year thoroughly washed out the weak hands' positions accumulated in the market. The current market structure shows obvious changes—

**Several key signals worth noting:**

Institutional-level ETF funds are steadily flowing in, with major players not fleeing; futures trading activity is gradually recovering, and veteran traders are starting to reposition; the options market sentiment has clearly shifted to bullish expectations, with implied volatility pushed to low levels, which often indicates market anticipation of upcoming moves; traders are increasing short Gamma positions at high strike prices, with a clear logic behind it—they are betting on volatility expansion.

Putting these details together, the implication is: the market's defensive stance is shifting to an offensive mode.

Although the current accumulation pace isn't very aggressive, from a fundamental perspective, the bottom structure is already solid enough. Compared to the confusion at the beginning of the year, the upside potential and clarity of expectations have improved significantly.

With this start in 2026, the overall pattern is relatively stable. What do you think about the potential upside of this rebound?