On January 16, 2026, at 02:59:59 AM, the market showed clear divergence.

**Several cryptocurrencies with strong upward momentum worth noting:**

RIVER leads the gainers, up 5.29% in 1 hour, from $22.22 to $23.39. This asset has been consistently on the list, with contract volume reaching 1.33 times, indicating a slight advantage for the bears (long-short ratio 0.64), but buying pressure is emerging, a potential signal of a major trend starting.

ATM follows closely, up 4.80%, from $1.02 to $1.069. Spot volume has increased to 5.08 times, with relatively moderate buying pressure, suggesting genuine funds are entering. ACH and KOMA are also in the 3% range, with ACH's spot and contract volumes both expanding, and a long-short ratio of 1.31 favoring the bulls, indicating a steady upward trend. KOMA's contract volume has surged dramatically (17.35 times), with an extremely unbalanced long-short structure (long-short ratio 6.47), which can easily trigger chain reactions.

**On the downside, pressure is even greater:**

BEAT leads the decline, down 6.14%, from $0.3894 to $0.3655. Although the longs hold an advantage in open interest (long-short ratio 2.27), this structure actually hints at risk accumulation—overcrowded longs. Similar signs of overcrowding are seen in TOWNS, with a funding rate of -0.5499%, even indicating liquidation risk warnings.

ZAMA, TOWNS, USUAL, and WET are gradually declining, with drops between -5.54% and -3.95%. Among them, TOWNS has an open interest volume of 10.61 times, combined with extreme long-short imbalance, signaling a clear overall risk.

Overall, in the short term, the market shows significant divergence at the bottom area, with some assets experiencing volume-driven moves, but many holdings are overly crowded, requiring close attention to subsequent liquidation developments.