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BTC surged from 62,000 all the way above 77,000, with a single-week increase of 23%. It is currently consolidating at a high level, and short-term profit-taking faces pressure to realize gains.
The US spot BTC ETF saw net inflows for five consecutive days last week, totaling $1.92 billion, hitting a 10-month high. BlackRock's IBIT alone accounted for $1.3 billion, representing solid institutional entry.
This round of the market was ignited by a short squeeze plus a decline in US Treasury yields. Institutions have already started treating BTC as an allocation asset.
78,000‑80,000 is the next major test.
A short-term pullback to 74,000‑75,000 is a normal correction;
As long as ETF funds do not dry up and the weekly line holds above 70,000, the mid-term logic remains intact.
Trading strategy: Do not chase highs, buy on pullbacks, exit on breakdowns, hold for the mid-term, and don’t get shaken out by volatility.
#BTC冲高后震荡，ETF资金持续流入
#ETH触及2500美元后震荡
$ETH $BTC 2026Saylor just broke the pattern. 👀
During the biggest Bitcoin move since election week 2024, Michael Saylor bought zero BTC.
That’s unusual.
The last two times BTC had a +20% weekly move, Saylor bought 12K BTC and then 79K BTC into those rallies.
And here’s the bigger picture:
Since July 2024, every major BTC move ended higher 3 months later, with an average gain of around +30%.
So if history is rhyming…
this might not be the top. It might be the setup.
Higher. 📈
#DailyOrbit 比特币ETF单周净流入19.2亿美元 创2025年10月以来新高 核心数据 美国现货比特币ETF单周净流入19.2亿美元 创下2025年10月之后的最高周流入记录 同期比特币价格强势反弹 上周五一度触及78000美元 值得注意的是，就在上一周 比特币ETF还处于资金净流出状态 短短一周内资金态度发生快速反转 资金结构 本轮流入高度集中在贝莱德IBIT等头部ETF 主要是传统机构资金入场，并非散户主导。 以太坊现货ETF也同步迎来资金流入 说明加密赛道整体受到机构关注 ETF整体资产管理规模与交易活跃度同步抬升 流入背后逻辑 一方面币价快速上涨 吸引机构借ETF配置比特币 基金需要买入现货BTC 进一步助推币价，形成短期正向循环 另一方面市场对美联储宽松的预期升温 风险资产整体受到资金青睐 带动加密资产配置情绪修复 需要留意的风险 ETF资金属于滞后指标，大额流入不等于行情会单边持续上涨。 一旦币价出现回调，机构会快速赎回，造成资金流出，反过来压制市场。 后续需要重点观察ETF资金能否维持净流入，以及宏观流动性变化。 0824截至晚间20:40近1小时资金流动排行榜 看看近1小时资金在做这两天山寨币集体躁动，结合最新链上与情绪数据来看，山寨乐观情绪已全面升温，市场热议的山寨季，正进入情绪加速释放的关键节点。 两大数据印证热度爆表 • Glassnode数据显示，当前85%的山寨币资金费率高于各自历史均值，创下BTC上次触及历史高位后的最高纪录，衍生品市场多头仓位高度拥挤。完整山寨行情周期中，这种高资金费率状态可持续数周。 • 今日加密恐慌贪婪指数升至73，距过去一年74的峰值仅一步之遥，已接近此前“1011”暴跌前的情绪水位。全市场进入贪婪区间，资金风险偏好持续抬升，不断流向高波动的山寨板块。 山寨季的走向，由主流币决定 山寨行情能走多远，核心锚点还是主流币的走势，这一点和当前ETH的技术面高度对应： ETH周线已明显超买，价格大幅偏离均线系统，技术性回踩需求明确；短周期6小时、12小时MACD顶背离，多头动能持续衰减。 后续两条路径，直接决定山寨季的寿命： 1. 直接回踩企稳：行情更持久 ETH回落至2070-2200美元均线支撑完成换手，企稳后进入窄幅震荡。主流币无系统性暴跌风险，资金会持续外溢，山寨行情从普涨转向题材轮动，持续性更强。 2. 冲高诱多回落：提前收$BTC I did miss out on part of this rally, but I have no intention of chasing the remaining funds all in at the high to make up for it.
Currently, I have converted only about 40% of my originally planned investment into BTC spot. Moving forward to accumulate chips, I mainly use two methods:
The first is selling put options.
I choose positions I was already willing to buy. If the price doesn't drop, I collect the premium; if the price drops, I take on the corresponding long exposure.
The second is a coin-margined grid strategy without market price entry.
When setting up the grid, I don't open positions directly at market price but place orders stepwise below the current price. If the market doesn't pull back, I accept earning a bit less; if the market does pull back, the grid will gradually build positions as planned. If it later enters consolidation, the grid can also accumulate some coin-margined returns.
I believe the current risk is still manageable because only about 40% of my chips have been converted into the target, and there is still some capital that can be invested in batches when the price drops to supplement margin and reduce the overall holding cost. Bitcoin can rally on institutional demand without every institution buying BTC directly.
ETF inflows are surging while Strategy just raised $2B without adding a single BTC.
That changes the interesting question.
The bigger institutional shift may not be who is buying Bitcoin.
It may be how institutions are choosing to gain exposure to it.49.6 million holders crush gold: Bitcoin completes generational surpass, trillion-dollar valuation gap closing
Latest statistics show that the number of adults in the United States currently holding Bitcoin has reached 49.6 million, nearly 21 million more than the 28.8 million gold holders. After five thousand years of historical accumulation, gold has been generationally surpassed by Bitcoin, which has only been around for a little over a decade, in the key dimension of population penetration. Nearly one-fifth of the adult population in the U.S. holds Bitcoin, marking its complete transformation from a niche geek toy to an irreversible, nationwide core asset.
The more critical competition lies in the extremely large valuation gap behind this. In terms of holder scale, Bitcoin has reached 1.7 times that of gold, but its total market value is only about one-tenth of gold's. This divergence, where the user base leads by a large margin but the market value is severely inverted, clearly reflects that the holder group mainly consists of millennials and emerging wealth. As tens of trillions of dollars in generational wealth transfer from the baby boomer generation in the coming decades, combined with the normalization of spot ETFs and pension channels, the transmission of adoption rate to capital density will unleash huge revaluation dividends.
Facing the generational inflection point where the number of holders surpasses gold by 21 million, when do you think Bitcoin's market value can truly catch up with gold? In your long-term asset allocation, do you prefer physical gold or digital gold?
#黄金突破4600美元，债券避险地位受挑战 Over the weekend, news of Nvidia's server price hike of over 15% went viral, and many people's first reaction was "AI computing power continues to thrive, tech stocks are going to keep rising." But today, the tech stock performance delivered a slap in the face—many sectors plunged, shattering the "price hike boost" narrative. This price hike logic is completely different from the first half of the year. 1. The essence of the price increase: not a surge in demand, but a cost push. The core reason for this price hike is the soaring price of HBM memory chips. AI servers demand HBM 8 to 20 times that of regular servers, and global HBM capacity is heavily concentrated among Samsung, SK Hynix, and Micron. As storage cost share rises, no matter how high Nvidia's gross margin is, it cannot withstand the pressure of upstream price hikes and can only pass costs downstream. This is not a proactive price hike driven by explosive AI demand, but a passive increase in costs across the industry chain. The market interprets this as "continued prosperity," but in reality, it confuses "tight supply and demand" with "unlimited demand." 2. Transmission Chain: From Cloud Providers to US Treasuries, and Then to Tech Stock Valuations The most easily overlooked aspect of this price increase is its impact on macro liquidity. 1. Cloud Vendor Debt Scale Expansion Cloud providers like Microsoft, Google, and Amazon have been aggressively borrowing money to expand computing power. Since 2026, the total debt of the five major US tech giants has approached $220 billion, far exceeding the $108 billion total for the entire year of 2025. Now, with servers rising another 15%, their capital expenditures will continue to increase$BTC Breaking above the 200-week moving average: Will historical patterns really repeat?
BTC reclaimed the 200-week moving average this week, which is one of the most important bull-bear dividing lines in technical analysis. In January 2023, after BTC also broke above this moving average, it rose about 48% in 90 days, rising from $19,000 all the way up to above $28,000, kicking off a nearly two-year bull market.
Now the signal is coming back — BTC started at $60,000, reached a high of $79,800, with a weekly gain of over 30%. Unlike 2023, this round is supported by sustained net ETF inflows, accelerated institutional allocation, and improved macro liquidity, making the driving logic more solid and not simply seen as a rebound.
But precisely because the signal is too clear, market consensus expectations easily cause short-term chip crowding. The 200-week moving average is a reference anchor for long-term positioning, not an excuse for chasing gains. History will repeat itself, but it will not repeat itself. The signal is clear, and the rhythm determines victory or defeatENA is close to doubling, PUMP surges, Meme coins and some DeFi tokens are recovering simultaneously, and the long-dormant altcoin market is finally becoming active again. However, from the perspective of capital and market structure, this looks more like a localized correction rather than the official start of a full altcoin season.
This round of gains is mainly concentrated in a few high-volatility assets, each with clear catalysts behind them, and capital has not fully flowed into small and mid-cap tokens. Meanwhile, Bitcoin still holds the core position in the market, and the overall performance of altcoins relative to BTC has not reached the confirmation standard of a traditional altcoin season.
More importantly, the market structure in this cycle has changed. Institutional funds entering the market through ETFs and crypto treasuries now prefer highly liquid, fundamentally clear leading assets. The past pattern of "BTC rallies first, ETH takes over, then thousands of coins soar together" is weakening.
Additionally, the number of new coins continues to increase, further dispersing limited liquidity, making it increasingly difficult for projects relying purely on hype to secure sustained funding.
Therefore, even if the altcoin rally continues to spread, it is more likely to be a structural bull market. What truly deserves attention are projects with real users, protocol revenue, product implementation, and long-term demand. An altcoin season may be brewing, but the era of "blindly buying and everything goes up" has most likely passed. $BTC $ETH #BTC冲高后震荡，ETF资金持续流入 #ETH触及2500美元后震荡 #杰克逊霍尔临近，沃什能否明确政策路径 Today, I actually don't want to call this wave a bull market.
BTC has risen about 23% in five days, once surging close to $79,000, and in the past week, the US spot BTC ETF has seen a net inflow of about $1.9 billion. On the surface, price, capital, and sentiment have all returned.
But there's one issue that can't be ignored: the first half of this rally was mixed with a very obvious short squeeze. On August 19, when BTC broke through, over $1 billion in short positions were liquidated within a single hour. In other words, a fast rise doesn't mean the new buying volume is equally strong.
So what I'm more concerned about now isn't "how much more BTC can rise," but the next two things:
First, whether the price can hold after the short squeeze ends.
Second, whether capital will truly spread from BTC to those coins that haven't started yet.
If later BTC just moves sideways at a high level while altcoins surge one after another in a day, then it's most likely still a sentiment-driven market;
If BTC stabilizes, ETFs continue to flow in, and meanwhile a batch of coins start to show volume increases, open interest slowly rising but prices haven't yet moved up, that's the stage I really want to wait for.
After a rise, anyone can find good news.
What’s truly valuable is finding assets where capital has already entered but prices haven't moved yet, before everyone is shouting about the rally.
These days, I’m not short of coins I want to buy; what I lack are coins worth positioning in advance.
$BTC BTC is oscillating at a high level near 77571, with the total market capitalization reaching 2.71 trillion. ETH is strengthening in sync, quoted at 2458, up 1.27%.
U.S. stocks closed higher across the board last night, with crypto-related concept stocks collectively surging; Robinhood soared 13%‑14%.
📌 Key Macro Events
1. Fed Chair Powell's Jackson Hole speech on August 28 is his most watched public address since taking office, with the market awaiting monetary policy signals. Institutions warn that if the tone is more dovish but falls short of expectations, it could further intensify the selling pressure on U.S. long bonds.
2. Basent confirmed that on the 24th, measures to isolate Iran's economy will be introduced, targeting Iranian oil purchases, fund transfers, and ship-to-ship transfers, accompanied by secondary sanctions threats. Iran responded strongly: once the economic war begins, oil exports through the Strait of Hormuz and the Persian Gulf may be interrupted, with energy risks looming overhead.
📌 Industry News
Nvidia has notified some major clients that AI servers will see price increases, with most orders rising over 15%, mainly due to a significant rise in memory chip costs. AI infrastructure supply and demand remain tight, and storage chips have become the core bottleneck.
📊 Crypto Market Analysis
BTC current price 77571
Below 75000‑77000 range, long liquidation pressure has been largely relieved;
Above 78000‑80000, short leverage continues to accumulate, and once effectively broken through, it can easily trigger a chain reaction of short covering to boost the market.
The overall direction has not changed, only the pace of the rise has shifted, with high-level oscillation digesting chips.
$BTC $ETH $TRUMP
#BTC oscillates after rallying, ETF funds continue to flow in
#ETH oscillates after hitting $2500
Trader DogZong ETH surged directly from 1900 to 2550 in this wave, with a weekly increase of nearly 30%, showing much greater elasticity than BTC.
However, the rapid rise was followed by a quick pullback, dropping back to around 2400 after touching the 2550 high, which is typical after a short-term sharp rally that requires sufficient turnover to digest floating profits.
The data is very intuitive:
ETH rose 29.8% last week, compared to Bitcoin's 22.9%, significantly outperforming. On August 19, there was a violent single-day surge of 17.5%, pulling directly from 1917 up above 2250, marking the strongest rally since mid-April.
The ETH/BTC exchange rate rebounded to 0.031, with funds starting to rotate into Ethereum's leading assets.
This round of gains is driven by three resonating factors:
① Ethereum spot ETF net inflow of $697 million in one week, institutional funds entering the market;
② Shorts liquidated $1.69 billion over three days, with forced liquidations acting as a turbo for the rally, creating a short squeeze;
③ US Treasury repo suppressing long-term yields, weakening the dollar, and overall risk assets receiving liquidity support.
On-chain data also supports this: ETH supply on exchanges dropped 15% within the month, staked total surpassed 42 million, reducing the actual sellable market supply.
But failing to hold the 2550 level also signals technical warnings:
Daily RSI hit 86, entering severe overbought territory; price deviated significantly from the upper Bollinger Band by 5.5%, making short-term chasing less cost-effective, naturally triggering profit-taking pressure.
Outlook:
The first resistance zone above is 2440‑2510; only by stabilizing above this range can ETH challenge 2550 and even 2750 again.
Key support below is 2210‑2130; a decisive break below would weaken the short-term trend.
Short-term, it is highly likely to oscillate between 2400‑2500 to digest positions.
$BTC $ETH $TRUMP
#ETH fluctuates after reaching $2500
Trader GouZongHyperliquid: From Perp DEX to a 24/7 Global Trading Market (4)
If regulatory relaxation progresses in tandem with institutional products, Hyperliquid's future potential will no longer be limited to crypto perpetual contracts. What the market truly focuses on now is whether it can further expand on-chain trading of spot, tokenized assets, and traditional financial assets. In recent years, tokenization of U.S. stocks, gold, commodities, and indices has become a key direction for the entire industry. If in the future stocks, commodities, indices, and other assets can achieve around-the-clock on-chain trading through compliant frameworks, Hyperliquid has the opportunity to evolve from a "Perp DEX" into a broader 24/7 global trading market.
This logic also explains why the market continuously compares Hyperliquid with early infrastructure assets like BNB and Solana. BNB initially relied on the Binance exchange and gradually gained platform ecosystem value as users and trading volume expanded; SOL was initially seen as a high-performance public chain and later formed a more complete network effect through applications, DEX, DeFi, and Meme ecosystems. HYPE follows a third path: first perfecting a high-frequency trading application, then building the underlying network and ecosystem in response to trading demand. If this model succeeds, its value source may not be "how many applications are deployed on the chain," but rather "how many global assets ultimately choose to trade here" $SOL @OKX中文 @OKX成长学院 @OKX星球 Don't rush to short $BTC right now, why?
The US spot BTC ETF is warming up, with a net inflow of $1.9 billion last week, and it has attracted funds for 5 consecutive days. The premium index has turned positive again, indicating that US spot buying is coming back.
But it's not without pressure; in the past few days, 53,000 BTC have flowed into exchanges, meaning some short-term money is taking profits, and selling pressure is indeed increasing.
However, the problem is that while there is selling pressure, the bulls are stronger.
The sell orders above the current market are not thick, and although weekend volume shrank, the bears have not launched a counterattack either.
So I tend to believe: before the news on Tuesday, BTC still has a chance to surge near 82,000.
If the news is positive, it will continue to rise; if negative, it will first consolidate and then pull back.
#美伊制裁升级，能源通胀风险回升 Hyperliquid: Real Revenue and Institutional Entry (3)
From a business model perspective, this is also the biggest difference between HYPE and many purely narrative tokens. Hyperliquid already has real trading volume and protocol fee income, and the market's main focus is whether this income can continuously flow back into HYPE's token economic system. According to relevant public materials, Hyperliquid has allocated a considerable portion of platform revenue to mechanisms such as HYPE buybacks. This means that HYPE's valuation logic is attempting to shift from the traditional "user growth × story" to "trading volume × protocol revenue × value capture." This is especially important for Crypto Native capital because the future market is increasingly likely to reward protocols that can truly generate cash flow, rather than simply rewarding grand narratives.
Another incremental variable comes from traditional capital entry. After Grayscale launched the Hyperliquid staking product, it quickly accumulated a certain asset scale, indicating that HYPE has begun entering the institutional product packaging stage. In the past, whether a token could be allocated by traditional investors largely depended on whether they were willing to set up wallets, cross chains, and bear on-chain operational risks; but once ETFs or similar securitized products gradually mature, these complex operations may be encapsulated. For traditional capital, what they may be buying is no longer an "on-chain coin," but an investment product that can be placed in a regular securities account. $HYPE @OKX中文 @OKX成长学院 @OKX星球 Is the U.S. policy quietly loosening restrictions on the crypto market? Strategy increased its holdings of STRC by $136 million last week, raising its dollar reserves to $6.685 billion. If this signals a liquidity release, the market may have already priced it in early.
1) Has the market responded? BTC and ETH rose by 2.11% and 3.13% respectively within 24 hours, with a narrowing price range, indicating short-term sentiment stabilization. However, whether this rebound stems from improved liquidity still needs verification.
2) Where is the real impact? Federal Reserve experiments show that over the past year, Bitcoin’s gains have significantly increased the probability of households holding crypto assets, indicating that asset appeal has formed path dependence at the household level. If U.S. stocks strengthen due to policy expectations, this could transmit risk appetite to the crypto market.
3) Both sides must be considered: A positive signal is that the U.S. economic isolation of Iran may reinforce the dollar’s status as the global settlement currency, enhancing its liquidity support. On the downside, if the U.S. tightens its participation threshold in the global financial system, it could trigger capital outflows and suppress risk asset performance.
4) What answers are we waiting for? Currently, no official data indicates that U.S. fiscal or trade policies have directly adjusted the crypto asset regulatory framework. Only if central banks increase crypto asset holdings or issue clear policy guidance will the market truly confirm the transmission path.
This is for informational and market scenario analysis purposes only and does not constitute investment advice. Crypto assets are highly volatile; please conduct independent research and manage risks.On 2025-08-24, it touched 4,958, today it's 2,491, just a year ago. The daytime high was 2,509. I didn't rush to call for a new major rally, nor did I treat it as a fake rebound. Up about 30% in 7 days, 8 points higher than BTC. ETH/BTC 0.03178, 30 days +9.2%. Exchange rate is being revised. Money is coming back: US spot ETH ETF, net inflow of about $700 million over five days from August 17 to August 21. That wave of cash withdrawal in May–June exceeded 1 billion, August was a behavioral shift. Pectra and Fusaka have already landed. What I'm buying now isn't 'about to upgrade,' but the second phase of institutional inflow after clearing. Contracts aren't hot. OKX perpetual holdings are about $1.4 billion, fee +0.01%. It's more like spot/ETF repricing, not like squeezing short sellers. The right event axis is the focus: the upgrade peak is in 2025, liquidation in the first half of 2026, and now it's the return phase. BTC goes first, ETH follows—that's what beta means. The full altcoin season won't just fix the exchange rate. Don't compare absolute value with BTC's nearly 2 billion last week. Look at behavior: switching from blood draws back to continuous buying is the signal for a market turn. If the left column is established, I'll keep watching $2400. The right column looks more like: I won't add near 2,509. Not chasing around 2,509, accelerating. If you can hold above $2400, it'll continue after recovery. ETH/BTC will turn around and break recent lows, or ETCORE: When Recycled Narratives Replace Real Progress $CORE once again became the focus of early-morning discussion as a familiar piece of promotional copy circulated widely, reigniting optimism across the community. “Core supports Bitcoin’s revenue and the products built on top of it; CORE is the core of value flow and compounding.” But the question is: what is actually new? There were no major application launches, no meaningful ecosystem data updates, no significant liquidity growth, and no su$TRUMP meme coin risk warning, high vigilance is needed for such related tokens
On-chain data shows large token transfers from TRUMP-related team wallets. Yesterday, about 3,838,000 TRUMP (equivalent to $9.34 million) were transferred to the OKX platform; early today, the project address conducted unilateral liquidity additions, cumulatively disposing of 1,100,000 TRUMP and exchanging them for 2,940,000 USDC.
TRUMP and $WLFI both belong to meme coins under this related ecosystem. These tokens heavily rely on news and sentiment hype, have concentrated holdings, and the project team has significant operational control. Sharp rises and falls are common, posing extremely high risks for ordinary participants.
For tokens driven by strong personality narratives like these, it is recommended to keep distance. Going forward, any similar tokens tied to this family narrative should be approached with extra caution. Do not blindly enter the market driven by short-term hype.
#BTC冲高后震荡，ETF资金持续流入
#ETH触及2500美元后震荡
#白宫峰会：特朗普称曾讨论购入BTC BTC在76000-78000美元区间反复震荡，日线重新收回关键位置，但上方80000美元压力仍然存在。 很多人的状态非常矛盾： 跌的时候想抄底，涨起来又害怕追高； 前几天BTC从64000美元快速拉升至79000美元，眼看别人赚钱，自己没有上车，于是开始寻找做空机会。 但这恰恰是交易中最危险的心理： 不是因为行情适合做空，而是因为错过上涨后产生了报复性交易冲动。 这轮上涨并非单纯情绪反弹。 BTC近期上涨伴随现货ETF资金明显回流，BTC、ETH ETF单周合计净流入约26亿美元，其中BTC ETF约19亿美元，机构资金重新成为市场重要买盘。 但这并不代表一定继续单边上涨。 当前市场真正需要观察： ① BTC能否稳定站上77000美元；
② 80000美元附近压力是否被有效突破；
③ ETF资金是否持续流入。 如果资金继续承接，突破80000美元并不是没有可能； 如果资金减弱，高位获利盘释放，回调同样会发生。 ETH近期突破2500美元，表现强于BTC，说明资金正在寻找更高弹性的资产。 但越强势的资产，波动也越大。 合约市场最大的陷阱： 不是看错方向。 而是在正确方向里，因为仓位过重$BTC has started to consolidate after recently surging to a high. But I think what's more worth watching than the price is the capital flow. Behind this round of rally, the US spot Bitcoin ETF has shown a clear net inflow again, indicating that this time it's not just the futures market squeezing shorts, but spot funds are also coming in. BTC rising a large segment and still maintaining at a high level is itself a relatively strong performance. I actually don't want it to keep skyrocketing every$BTC suddenly accelerated after months of silence, with a cumulative increase of 23% over 5 days, marking the strongest short-term rebound since the 2025 peak pullback. This rally is not purely driven by internal sentiment within the crypto market but is the result of a combination of macro environment, policy expectations, and short-covering.
Firstly, after the U.S. Treasury expanded the scale of long-term Treasury repurchases, Treasury yields fell, easing pressure on risk assets; meanwhile, the weakening dollar and rising gold prices have also strengthened market attention on Bitcoin as an alternative asset.
On the policy front, Trump has once again pushed the CLARITY Act, and the market is beginning to focus on subsequent regulatory legislative progress. If the related bill makes breakthroughs, it could further improve institutional capital inflow expectations into the crypto market.
Additionally, after Bitcoin broke through its long-term consolidation range, a large number of short positions were forced to close, creating a "rise—liquidation—continued rise" short squeeze effect. However, this type of capital is unlikely to support the market for the long term.
Going forward, ETF capital flows will be a key observation indicator. Only if institutions continue net inflows can it prove that this rally is not just a short-term short squeeze but a genuine return of market funds. #BTC冲高后震荡，ETF资金持续流入 #ETH触及2500美元后震荡 #OKX预言家：F1与TI15赛果揭晓 $ETH $XPEV Group (XPEV)$ This Q2 financial report cannot be judged solely by revenue rebound quarter-on-quarter and the comprehensive gross margin reaching 20%. What's even more noteworthy is: the improvement in gross margin mainly comes from services and other businesses, with the vehicle gross margin still stuck at 12.1%; Deliveries were almost flat year-on-year, and losses have not yet returned to the same period last year. Let's look at the core data: Q2 total revenue was 19.744 billion yuan, up 8.0% year-on-year and 51.5% quarter-on-quarter; Among them, automobile sales revenue was 17.046 billion yuan, up 1.0% year-on-year, and service and other revenue was 2.697 billion yuan, up 93.9% year-on-year. Quarterly deliveries were 103,295 units, up only 0.1% year-on-year. This means revenue growth is not mainly driven by year-on-year delivery volume expansion, but rather by growth in services and other businesses, as well as a rebound in product and delivery pace during the quarter. Total gross margin improved, but vehicle gross margin did not recover in sync This quarter's consolidated gross margin was 20.7%, higher than last year's 17.3% and slightly higher than last quarter's 20.6%; However, the gross margin for vehicles was 12.1%, unchanged from the previous quarter and lower than 14.3% in the same period last year. The company explained that the year-on-year changes in vehicle gross margin were mainly influenced by product upgrades. On the other hand, the gross margin for services and other businesses reached 75.1%, higher than 53.6% in the same period last year and 66.5% in the previous quarter. Therefore, this rise in gross margin is a positive signal, but it does not directly mean that vehicle profitability has been restored; the latter still depends on the unit economy after large-scale delivery of new modelsCryptoQuant data reported that the recent breakeven point for new funds entering the market is around $73,000, with the short-term holders' cost basis at approximately $68,700.
This does not mean the price will necessarily find support there. Its significance lies in the fact that if the market pulls back, these ranges will test the patience of recent buyers. Holding the price is structural; continuous failure to hold indicates holding pressure.
$BTC #BTC #crypto Damn! $TRUMP, this crappy coin crashed again.
This morning I saw it dropped to 2.5, down four points straight away. A couple of days ago, someone was shouting everywhere that the president was about to issue a new coin, which pushed the price up to 3.6, but it was all nonsense, and now it’s crashed back to the original point.
Anyone with eyes knows it was their own people: yesterday, several related wallets transferred over 3.8 million coins to OKX, and this morning they sold 1.1 million coins at an average of 2.68 each, cashing out nearly three million dollars in stablecoins.
The total amount dumped on the market has already exceeded ten million dollars.
Trump’s son even came out seriously to clarify: the so-called new coin news is completely fake, don’t believe those scam messages.
Their tactic is: rumors push the price up, insiders sell off, and the price falls back down.
#BTC冲高后震荡，ETF资金持续流入
#ETH触及2500美元后震荡
#OKX预言家：F1与TI15赛果揭晓 As of August 21, the cumulative net outflow of the US spot Bitcoin ETF in 2026 remains about $2.91 billion; however, August alone has seen a net inflow of approximately $2.38 billion, making it the strongest month so far this year.
This contrast provides more insight than just looking at the $1.92 billion figure. It indicates that the sentiment of funds is shifting, but it has not yet fully offset the previous scale of withdrawals. It is still too early to describe this "marginal improvement" as a "complete reversal."
$BTC #BTC #cryptoThere are three major events tomorrow, boldly predicting if $BTC can still surge?
BTC is still hovering around 78,000, dropping from 79,500 to 75,600 over the weekend, then pulling back up.
Nvidia's earnings report, PCE data release, and Jackson Hole are coming up—three big events at once. The market likely won't pass through smoothly.
The Asian session looks weak today as well, with Korean and Hong Kong stocks dragged down by the AI sector. Samsung and Alibaba plunged, essentially signaling that AI is entering the cost calculation phase.
The current issue for BTC is strong bulls, but the 78,000–80,000 range has concentrated selling pressure and liquidity.
On one side, spot BTC ETFs continue to see inflows; on the other, profit-taking is moving to exchanges, with some already cashing out.
So I believe: 80,000 is not something that can be broken through casually.
If Nvidia beats expectations and PCE is moderate, risk appetite will continue to improve, and BTC could directly open up the 80,000 level.
If the data doesn't cooperate, a pullback is completely normal.
Personally, I will watch the 75,000–73,000 pullback opportunity and the 80,000 core resistance.
#杰克逊霍尔临近，沃什能否明确政策路径 Last week saw a significant inflow of ETF funds, with BlackRock's IBIT contributing the main portion. It is a fact that institutional demand has increased, and it is also a fact that the demand is concentrated.
These two aspects must be considered simultaneously. Concentrated buying pressure is very powerful when moving upward, but it also means the market is more sensitive to a few channels. ETF inflows are not a contract for "continuing to rise the next day"; they are just one piece of evidence within the buyer structure.
$BTC #BTC #crypto In the week ending August 21, the net inflow into U.S. spot Bitcoin ETFs was about $1.92 billion, marking the strongest week since October 2025.
A single week's data can ignite sentiment but cannot confirm a trend on its own. What truly matters to continue tracking is whether the inflows can persist across weeks and whether the funds remain highly concentrated in a few products. A single record indicates demand has returned; consecutive records may indicate a change in demand structure.
$BTC #BTC #crypto Brent crude oil fell 1.87% intraday, trading near $92.6 per barrel, partially giving back the more than 5% gains accumulated last week. This round of correction is driven by four main factors:
First, the oil price had been continuously rising earlier, prompting profit-taking by bullish funds; second, shipping traffic through the Strait of Hormuz is gradually recovering, marginally easing market concerns over crude supply disruptions; third, the market is awaiting the U.S. to implement a new round of sanctions against Iran, and before these are concretely enacted, funds generally choose to reduce risk positions; fourth, the rapid rise in oil prices has pushed up inflationary pressures, causing the market to worry that high energy prices will suppress global consumer demand.
Overall, this adjustment is a high-level phase consolidation rather than an end to the upward trend. As long as core conflicts such as Middle East geopolitical tensions, transportation risks in the Strait of Hormuz, and disruptions to Iranian crude exports do not see substantial improvement, Brent crude oil will continue to maintain a wide range of high-level volatility. $BTC $ETH $MU #美伊制裁升级，能源通胀风险回升 On August 18, the storage sector experienced a violent sell-off, with SNDK and MU both plunging, leading many to believe the market cooled off. However, the capital data tells a different story: over the past month, DRAM still saw a net inflow of $2.08 billion. After the sharp drop, leveraged long products attracted capital, short products saw capital outflows, indicating funds were bottom-fishing storage during the big dip. The storage and crypto markets share the same pool of risk hot money; t💧 THE TREASURY JUST BECAME A CRYPTO CATALYST
The U.S. Treasury's expanded long-term bond buybacks helped push yields lower and improve liquidity expectations.
Bitcoin and gold responded strongly.
This is bigger than a BTC chart pattern: it connects government debt markets, yields, the dollar and crypto liquidity.
If financial conditions continue easing, risk assets could have another tailwind.
#Treasury #Liquidity #BTC #Macro
#BTCETFInflowsSurge #OKXOutcomeF1TI15Recap 特朗普宣布对伊朗实施“有史以来最毁灭性的经济行动 上周比特币连拉5根阳线，从6.2万美元一路冲到7.9万美元，一周涨超23%。现货黄金站上4600美元，创三个月新高。然后呢？周六一个闪跌，17.92万人爆仓，8.82亿美元灰飞烟灭。多头占了八成。 为什么？ 非农余震未消，地缘冲突接力。 美国7月非农就业减少2.3万人，5月、6月数据合计下修10.3万人。就业在降温。但通胀呢？7月CPI同比涨3.4%，能源指数飙了14.7%。 就业弱 + 通胀高 = 美联储最头疼的组合。 7月FOMC会议9:3维持利率不变，3个委员想加息。9月加息概率从70%降到40%，但“高利率维持更久”这个阴影还在。 30年期美债收益率一度冲到2007年以来最高。 借钱越来越贵，通胀还下不来。 然后特朗普宣布对伊朗实施“有史以来最毁灭性的经济行动”，财长贝森特将其称为“经济版诺曼底登陆”。 美国财长贝森特宣布“史上最严厉”对伊制裁——目标直指“搞垮伊朗政权”。 伊朗回应？“任何参与制裁的国家，视为对伊朗宣战。” 还威胁如果经济战继续，霍尔木兹海峡一滴油都不会出去。 航运数据显示，8月15日霍尔木兹海峡只有5艘船通过Don't be fooled by the screenshot on CT saying "Whale shorting HYPE suffered huge losses"!
On-chain data doesn't lie. After digging into @loraclexyz's real ledger, you'll realize how terrifying the perception gap between retail investors and whales is:
Surface: Shorting HYPE with an unrealized loss of $16.5M, average price $54.74, already blown up?
Reality: This is just one leg of his nearly $100 million total holdings. His core position is 20x leveraged long gold (holding $59.68M, currently up $6.13M), also covering copper, US stocks, and dozens of other assets.
Truth: He's not simply betting on the rise or fall of a single coin, but doing a cross-market macro hedge of "long gold/commodities, short overvalued tokens."
The point of on-chain analysis is to learn the real hedging logic of the big players, not to follow marketing accounts and make up stories based on charts.
Do you think, given the current macro environment, that going long commodities + shorting overvalued crypto assets is a safe move?
$HYPE $XAUT #杰克逊霍尔临近，沃什能否明确政策路径
The baton for "rescuing US debt" has finally been passed to Waller.
Last week, Bostic tried to stabilize long-term US debt by expanding long-term US debt repurchase scale, but the market only responded for one day.
Subsequently, the dollar fell nearly 1% in a week, gold broke through $4600, and BTC surged more than 25% in a single week.
Interesting, right? The money hasn't disappeared; it's just looking for a new outlet.
US debt yields can't be suppressed, fiscal pressure remains, and market concerns about inflation and liquidity have ultimately shifted to gold $XAU and $BTC.
So what really deserves attention this week is what Waller will say at Jackson Hole on Friday.
What the market most wants to know is actually just one question:
In the face of inflation and fiscal pressure, does the Federal Reserve have a clear policy path?
If Waller can release a clearer dovish signal, the dollar and US debt yields may continue to be under pressure, while gold and BTC might continue to benefit.
But if he remains ambiguous or even re-emphasizes inflation risks, then long-term US debt may continue to be under pressure, and risk assets should be cautious.
So now I actually think:
The key variable for BTC this week might not be BTC itself, but US debt and the dollar.
If US debt can't be stabilized and the dollar continues to weaken, funds may continue to look for "alternative outlets."
And BTC might be one of the increasingly important outlets. #BTC冲高后震荡，ETF资金持续流入 #ZECHitsOKXHigh
ZEC hitting an OKX record near $859 isn't just a price story. ETF hopes are arriving as Zcash upgrades privacy and supply verifiability, giving investors both a catalyst and a stronger technical narrative. But Cypherpunk controlling nearly 18% of hash rate adds a new risk. If ETF momentum fades, concentration could matter fast. ZEC now has to prove this repricing is backed by durable demand, not just expectations.$Pinduoduo (PDD)$ The key point of this Q2 financial report is that revenue is still growing, trading services continue to run faster, but profits have not improved accordingly. Revenue and operating profit both grew 8% year-on-year, but net profit attributable to shareholders fell 12% year-on-year, indicating that the market should not focus solely on GMV, transactions, and revenue, but also on the impact of ecosystem investments and other profits and losses on profits. Let's look at the core data first: Q2 total revenue was 112.358 billion yuan, up 8% year-on-year; Operating profit was 27.764 billion yuan, up 8% year-on-year. Net profit attributable to ordinary shareholders was 27.182 billion yuan, down 12% year-on-year; Non-GAAP net profit was 28.489 billion yuan, down 13% year-on-year. Diluted earnings per ADS were 18.45 yuan, down from 20.75 yuan in the same period last year. Revenue and operating profit grew in tandem, but net profit weakened, which is the most important aspect of this financial report. Trading services remain the main driver of revenue growth. Online marketing services and other revenue were 57.637 billion yuan, while transaction services revenue was 54.721 billion yuan, up 13% year-on-year, outpacing overall revenue. Transaction service revenue now accounts for nearly half of total revenue, indicating that Pinduoduo's growth does not rely solely on traditional advertising monetization; the platform's transaction chain itself continues to contribute incremental growth. However, in terms of growth rate, total revenue this quarter only grew 8% year-on-year, shifting market focus from "whether Pinduoduo can maintain high revenue growth" to "whether transaction service growth can support longer-term profitability." Ecosystem investment has not stopped this season's sales and operationsSaylor just broke the pattern. 👀
During the biggest Bitcoin move since election week 2024, Michael Saylor bought zero BTC.
That’s unusual.
The last two times BTC had a +20% weekly move, Saylor bought 12K BTC and then 79K BTC into those rallies.
And here’s the bigger picture:
Since July 2024, every major BTC move ended higher 3 months later, with an average gain of around +30%.
So if history is rhyming…
this might not be the top. It might be the setup.
Higher. 📈
#DailyOrbit Not Meme Season, but DeFi's "Value Return Season"—Is AAVE Breaking $144 Just the Beginning? SPK rose +44.8% for the week, ENA rose 96%, and AAVE broke through $144. This isn't the meme frenzy of March 2024; it's a completely different market. If I had to say it was similar, it was more like DeFi Summer in 2020—a protocol where funds could truly make money repricing in the Ethereum ecosystem. On August 24, the crypto secondary market gainers list is dominated by DeFi: SPK: up over 26% in a single day, up 44.8% in the past week. MORPHO: up 20.84% in a single day, trading at $2.751. AAVE: up 16.76% in a single day, trading at $144.07—the highest since February. PENDLE: up 14.34% in a single day, trading at $1.847. ENA: up 13.64% in a single day, closing at $0.1685, up 96% in the past week— ETHFI, LDO, and MET all nearly doubled, rising over 10%. The entire DeFi sector is experiencing a full-scale explosion. But this is not indiscriminate shopping—funding is selective. Let's compare this to the meme season. What to watch during MEME season? Let's see who has more jokes, whose names are flashy, and who's the most aggressive rally. Fundamentals? No need. Income? No need. Team? Even less so. Emotional intensity is everything. But this round is different. What is the capital allocation focusing on? Protocols with real income, assets with deep governance. AAVE——$SNDK Why has SanDisk been receiving mostly positive news recently, yet its price continues to decline?
Guan Ge will give you a simple analysis. In summary, the mainstream trend is clear now; most funds have withdrawn from the US stock market and flowed into mainstream currencies like ETH and BTC. The earlier positive news has mostly been absorbed by the market, and these benefits have already been priced in. The fundamentals are getting better, but the price surged too sharply earlier, so the market is now trading on "positive news realization" and valuation rather than purely on the positive news itself.
Currently, SNDK looks more like a high-level re-pricing after a big rally, not because the fundamentals suddenly worsened.
In the short term, I will focus on the 1500 level. If it can stabilize here with increased volume, it indicates the market is starting to re-acknowledge this rally, and there is a chance to challenge the previous highs; if it continues to fluctuate or breaks below 1500, it may retest lower levels. #ETH触及2500美元后震荡 $xSNDK dropped 4% pre-market, reviewing "when it rises too much, it's time to sell"
For SanDisk $SNDK, I told everyone to take profits on 8/17, and today it was confirmed.
On 8/21 it closed at 1,596.08, but on 8/24 pre-market it directly dropped 4% to about 1,532. The storage sector collectively pulled back: Samsung shareholder returns fell short of expectations, MU and Hynix also dropped over 3%. I'm writing this to review with you "why when it rises too much, it's time to sell." #SanDiskInvestorDay, long-term goals become the focus
1. The foundation of long-term contracts remains: 8 major customers with $93.9 billion contract value, $91.1 billion remaining performance obligations locked in; NBM long-term contracts cover 50% for FY27 → 67% for FY28; gross margin target ~80%, operating profit 75%; HBF high bandwidth flash tape-out on 8/18. This is real evolution.
2. But today's sector negative news caused a 4% pre-market drop, indicating expectations are loosening. YTD still +564%, 32% below the 6/22 high of 2,354, rising too much is the original sin. Look at Micron's explosive earnings after-hours yet still falling, SanDisk is similar.
3. Analyst average price target is 2,000 (+25%), but short-term storage cycle peak views vary greatly. 1,600 was originally stagnant, now broken pre-market, don't rush to bottom-fish. Robinhood's on-chain capital accumulation shows a severe structural imbalance, with a core contradiction between the surge in stablecoin and Meme liquidity and the stagnation of US stock RWA accumulation, presenting a short-term dominance of speculative funds.
The total on-chain locked value surpassed $540 million in mid-August with a 45% monthly increase, overturning previous market pessimism about capital outflows. However, the total stablecoin amount reaching about $640 million indicates ample liquidity reserves, while RWA assets are only about $32 million, causing their share to quickly drop from nearly one-third in early July to about 6%, directly breaking the assumption of a US stock-dominated on-chain ecosystem.
The main drivers of capital flow are speculative Meme trading and stablecoin risk-hedging accumulation, with RWA allocation demand ranking last. Incremental funds remain in decentralized exchanges engaging in high-frequency speculation, without converting into genuine medium- to long-term holdings of US stock tokens.
The bullish scenario depends on the effective conversion of stablecoins into US stock assets. If the RWA scale rebounds and surpasses the $100 million mark while stablecoins continue to grow, on-chain liquidity will shift from pure short-term speculation to structural support, driving high-quality TVL growth.
The failure condition for this bullish scenario is that stablecoin scale continues to expand but RWA share remains below 6%, indicating that incoming funds are entirely reduced to speculative chips on decentralized exchanges.
The bearish scenario is based on a cooling of Meme speculation triggering liquidity squeeze. If decentralized exchange trading volume declines causing rapid liquidity withdrawal, and the $32 million RWA accumulation is insufficient to support the ecosystem foundation, overall TVL may face a rapid monthly drop exceeding 20%.
The failure condition for this bearish scenario is that while Meme activity declines, the absolute scale of RWA grows against the trend, and the optimization of capital structure will negate expectations of ecosystem liquidity collapse.
Key observations for the next 7 days include changes in decentralized exchange trading volume, whether the absolute scale of RWA assets can stop falling and stabilize, and the conversion rate of stablecoin accumulation funds into US stock tokens.
#杰克逊霍尔临近，沃什能否明确政策路径 #财报观察员：英伟达领衔，AI回报进入验证期 #美光加码AI存储，十年研发投入100亿美元The trap of circulating supply: only 7.44% of UNITREE’s total coins are actually in circulation. On the surface, its total market cap of 2,590 billion VND looks intimidating, but when you break it down, the free-float market cap is just 192 billion VND. What does that mean? It means the amount of coins available to buy on the open market is extremely thin. The main holders only need a small portion of capital to effectively control the market. Recently, short-form videos have flooded social medi过去一周，$XRP 一度上涨超过 40%，最高冲击 $1.75 附近，随后回落至 $1.52–$1.55 区间。 这不是普通的反弹，而是一波明显的资金驱动行情。 现在，我更关注的不是它已经涨了多少，而是接下来能否把突破真正转化为支撑。 📌 关键观察区间：$1.48–$1.55 如果多头能够守住这一带，同时成交量维持活跃，那么 $XRP 仍有机会再次挑战 $1.70–$1.80 区域。 但如果价格跌破 $1.45，并伴随明显放量卖出，那么市场可能需要经历一次更深的调整，重新积累力量。 更值得注意的是，这波行情并不只是 $XRP 的独立上涨。 随着 $BTC 和 $ETH 保持强势，市场资金开始向大型山寨币扩散，$SOL、$HYPE、$ZEC、$LINK 和部分高流动性代币都出现了明显的资金关注。 与此同时，近期现货加密 ETF 资金流仍然是市场的重要催化剂，机构资金持续进入 $BTC 和 $ETH，也正在改善整个加密市场的风险偏好。 这可能意味着： 市场正在从“只买 BTC”逐渐进入“资金寻找更高 Beta 资产”的阶段。 但经历一周超过 40% 的上涨后，我不会选择追高。 真正重要的Kashkari says US Treasury bonds haven't failed, do you believe that?
Last Sunday, the Minneapolis Fed President publicly stated: the US Treasury market is functioning normally, liquidity is sufficient, and the Fed just needs to keep an eye on inflation.
But a few days ago, the Treasury Department did something completely unsettling — it doubled the repurchase scale of long-term bonds from 10 to 30 years, increasing a single operation from 2 billion to over 4 billion. The reason is simple: the 30-year yield surged to 5.3% intraday on August 18, the highest since 2007, and buyers collectively went on strike.
What happened next? Once the repurchase news came out, yields briefly plunged but gave back all gains within 48 hours. This shows repurchases are a liquidity tool, a temporary fix, not a fundamental solution. The total federal debt just broke $40 trillion, about 123% of GDP, doubling in ten years, with interest rolling into the deficit. This hole can't be filled by buying back old debt a few times.
Kashkari says "historically, these yields aren't high," but in the 90s debt was just over 60% of GDP, now it's 123%. Can the fiscal foundation be the same?
So what are the smart people doing? Gold rose from $4030 to over $4600 in August, up about 14%, rising for five consecutive weeks. $BTC was even stronger, rallying from 62,000 to 78,000 dollars, up over 20% in a week. When sovereign credit is questioned, the value of non-sovereign assets goes up. Gold is the old answer, BTC is the new answer.
Can long-term bond repurchases solve the root problem? No. The real solution is either fiscal tightening or the market teaching you a lesson with higher term premiums. Until then, holding some gold and BTC is more reliable than watching Kashkari's words 兄弟姐妹们，现在好！周一亚洲股市表现不佳，BTC倒是稳在78000附近。但真正的考验在周二：英伟达财报、PCE数据、杰克逊霍尔，三颗雷排着队等你踩。
🔴 亚洲复盘：AI板块承压
亚洲股市周一全线走弱。韩国KOSPI大跌3.4%，三星暴跌8.7%——股东回报计划不及预期，叠加英伟达财报前半导体板块承压。恒指跌2.1%，阿里暴跌近10%，配售800亿港元新股用于AI基建。日经跌0.49%，沪深300跌1.3%。
核心矛盾：AI叙事没崩，但短期在承压。产业链正从“预期炒作”向“成本兑现”转换。
🌃 美股盘前：英伟达财报定生死
纳指期货跌0.3%。英伟达财报（周二盘后）是真正的引爆点，市场预期营收920亿美元，期权定价±6%波动。超预期→利好BTC再测8万；不及预期→科技股承压。
关税战也在压制情绪。美国对加拿大加征50%关税，加拿大将反制。
📊 加密市场
$BTC 周末从79500回踩75650后反弹。上周ETF净流入19亿美元，Coinbase溢价指数转正，美国现货需求改善，但过去3天约5.3万枚BTC流入交易所，卖压在累积。
78000-80000堆积大量流动性，BTC冲8万$BTC Monday Market Preview🔥
Last week, the mainstream strong northbound movement sparked discussions about whether the bull run has returned and if 58,000 is the cycle bottom?
From my personal perspective and institutional analysis, my answer would be: it doesn't look like a bottom, more like a violent rally followed by consolidation to find a bottom. Currently, the market is waiting for the mainstream to provide the next direction amid several news factors.#BTCETFInflowsSurge I am Cige, shorting BTC between 78000 and 80000. This is not chasing the short but waiting for the simultaneous confirmation of technical, capital, and macro signals for a sniper attack. This range is not arbitrarily drawn; it is the limit area of this round of short squeeze rally. What does 78000 to 80000 mean? BTC has surged over 15000 points from 63000 within a week, setting a new weekly record. The core driving forces of this rally are the resonance of Treasury buybacks, Trump's policy statements, and short squeeze, not a fundamentally driven bull market restart. From the liquidation structure perspective, $430 million in short positions have been cleared, and the short squeeze fuel is running out; going higher requires new spot buying to take over. The 78000 to 80000 range is exactly the key resistance zone at the daily level, while 82200 to 82400 is the 50-week moving average and a large area of trapped positions being released. Every step the price moves up increases selling pressure. Technical signals: The 4-hour RSI is severely overbought, and the 1-hour chart has already shown bearish divergence, with price making new highs but momentum indicators not following. After failing to break through 80000, the price has fallen back to oscillate around 77000, a typical pattern signaling the end of a short squeeze rally. The 75000 to 77000 range is the core area of the bulls and bears battle; if broken, support lies around 74000 to 74500. Capital signals: Whales have sold a total of 7700 BTC in the past 3 days, worth about $577 million, with large funds offloading at high levels. Binance and Coinbase InstToday, Hong Kong stocks, A-shares, and Korean tech stocks all experienced sharp declines, but the cryptocurrency and gold concepts remained very stable, showing no signs of weakness. What I see now is ETH, LTC, and BTC all launching their next surge to new heights, while gold has broken through recent highs again. This afternoon, I saw all tech stocks falling. I thought that with the US stock market opening tonight, both crypto and gold might be affected, so I was basically in a state of full selling, including Hype, which I am optimistic about. However, that night I saw LTC and ETH were so strong, so I bought some back on my live trading account. I think this is an important sign of capital switching: 1. Liquidity has shifted from large tech stocks like US stocks and Korean stocks to the crypto and gold markets, and judging by the flow of ETF funds, there is no sign of retreat. 2. Actually, it's not just today; the past half month has shown the resilience of crypto assets. They didn't follow the decline much, then either moved sideways or rose. Personal trading tips: 1. Today I opened two countertrend positions: short positions for XRP, ETH, and BCH. At the time, I thought US stocks might fall tonight, so I would lay in wait on a few weaker stocks, but the script didn't go as I had planned, so I cut my losses early. 2. Later, I saw that ETH and LTC were stronger, which completely dismissed my belief that "US stocks will follow the decline." Then I opened long positions on ETH and LTC, and LTC is still in a loss.