Gm

Today's feelings are very real: capital sentiment begins to 'stop the bleeding', but on-chain security has dealt a heavy blow; meanwhile, traditional finance on-chain (RWA) continues to advance.

✅ Four news items worth watching today

1) ETF finally 'stops the bleeding': BTC spot ETF ends continuous outflow, turning to a slight net inflow
Data shows that on January 26, the total net inflow of the US BTC spot ETF was approximately $6.84 million, marking the end of several days of continuous net outflow. 
➡️ Interpretation: It's not a 'bull comeback', but at least it shows that institutional sentiment hasn't continued to deteriorate.

2) DeFi security incident: Matcha Meta / SwapNet related event, approximately $16.8 million stolen 🚨
Multiple channels reported that this security incident led to approximately $16.8M in assets being stolen, and Matcha Meta also confirmed its relation to the integrated SwapNet. 
➡️ Interpretation: Starting in 2026, the biggest cost for DeFi is still the 'security tax'.

3) RWA continues to advance: US Treasury ETF (TBIL) share 'on-chain' application enters regulatory process ⚡️
F/m Investments has applied to the SEC to record its 3-month Treasury ETF (TBIL) share on a licensed chain (still within the framework of the 1940 Act). 
➡️ Interpretation: Such actions are more important than just shouting slogans—traditional asset on-chain is moving towards operational routes.

4) Regulatory main line is still being pulled: Senate crypto bill progress has been delayed
The Senate's related progress has been postponed, one of the triggers being Coinbase's public opposition to the draft (especially regarding stablecoin rewards/yields, etc.). 

BTC / ETH (just one sentence, enough)
• BTC is currently reported at approximately $88,141, with an intraday range of $87,065–$88,797
• ETH is currently reported at approximately $2,920, with an intraday range of $2,879–$2,949
➡️ Today's prices are more a result of 'sentiment recovery + risk event hedging'.