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When Bitcoin starts to rise, all those miners who once pivoted to AI suddenly remember that they're mining companies.
Mining group stocks surged 40-67% in August, while CoreWeave only rose about 21%, Nebius 17%. Miners with more exposure to AI and HPC were practically flat or even declined. Just a 23% BTC increase, and the AI pivot story suddenly becomes far less appealing compared to simply holding coins.
Meanwhile, Strategy bought an additional 4,600 BTC, Strive boosted its holdings to over 23,000 BTC, Bitmine extended its $ETH buying streak to 65 consecutive weeks and now holds nearly 5% of the circulating supply despite unrealized losses exceeding $5 billion.
The most interesting news this week was the quietest one. 21 major financial institutions including Bank of America, Goldman Sachs, and Citi are teaming up to develop a dollar stablecoin, slated for launch in the first half of 2027, compliant with both the GENIUS Act and MiCA. This isn't some small experiment—this is TradFi starting to build blockchain payment infrastructure in the most serious way yet.
This crypto season is being driven by institutions more than any cycle before.🐋 Whale Movements｜Some are still continuing to scoop up $HYPE
Just as Trump said he is pushing for Hyperliquid to enter the US market in a "fully compliant and legal" manner.
Right after, this mysterious whale 0x6436 started increasing their position again.
The latest purchase was 343,000 HYPE, about $29.09 million.
I casually checked the on-chain records and found this guy didn’t just suddenly jump in today.
Three months ago, they bought 1.28 million tokens near $70, and in the last 10 days, they continued to add near $82.
And from the on-chain records, in the past two days, they have been repeatedly:
Collecting HYPE → Consolidating → Transferring to a fixed address
Then collecting again → Transferring again
So far, they have accumulated about 3.24 million tokens, worth $252 million. According to Lookonchain monitoring, all these HYPE tokens were eventually staked.
So now it’s quite interesting:
On one side, the US is starting to explore how to legally allow Hyperliquid to enter the market
On the other side, a whale with $250 million level is still hoarding HYPE
One watches policy, the other watches real money.
$HYPE What exactly happened with the nonfarm payrolls tripling expectations?
At 8:30 PM last night, the U.S. Department of Labor released a set of data.
August nonfarm payrolls increased by 162,000.
What was the market expectation? 56,000.
Triple.
This is not a "slight beat," this is a crushing blow.
Don’t rush to scroll down yet, let me tell you what this means.
The 162,000 new jobs in August is the highest since March. And over the past 12 months, the monthly average increase was only 31,000.
Even more striking—the Labor Department significantly revised June and July data upward:
July was revised from a decrease of 23,000 to an increase of 21,000
June was revised from 20,000 to 31,000
A total upward revision of 55,000 over two months
A month ago, everyone was worried the job market was about to collapse. A month later, the data tells you: not only did it not collapse, it’s burning hotter than ever.
Market reaction? A textbook "data shock."
The probability of a Fed rate hike in September surged instantly from 47.6% before the data release to 65%.
Gold plunged $70 in the short term, breaking below the $4,400 level.
The dollar index shot straight up.
Bitcoin—within 5 minutes, it crashed from $81,600 through the $80,000 mark. Over $200 million liquidated across the network in one hour, with long positions liquidated at $186 million, accounting for over 90%.
All positions based on "rate cut trades" were completely repriced.
But here’s a more intriguing detail—
Three days before the data release, ADP "small nonfarm" showed only 38,000 new private sector jobs in August, the smallest increase since January.
The market was misled by ADP, betting that nonfarm payrolls would also be weak.
But the nonfarm came out at 162,000.
How big was the expectation gap? So big that all the shorts (those betting on weakness) were swept away.
But don’t jump to conclusions yet.
Bank of America said a big truth—the nonfarm is just the "appetizer."
The real verdict on the September rate hike will come with the CPI data on September 11.
Nonfarm covers the "employment" leg, CPI covers the "inflation" leg.
Fed Governor Waller has already stated—if data over the next two weeks continues to show inflation easing, the probability of a rate hike will quickly fall.
In other words:
Employment data opened the door for a rate hike, but inflation data will decide whether that door is fully opened or slammed shut.
This show has just begun.
$BTC $XAU $XAG #8月非农16.2万远超预期，加息押注升温 Last night the non-farm payroll data exploded, $BTC dropped from the highs, while storage stocks like $SNDK took off on the spot. Next, macro data will take the wheel.
The script for this week is very clear: interest rate hike expectations will fluctuate repeatedly, and the final verdict will come from next week's CPI/PPI. So as I said yesterday, I don't think this is a bull run #8月非农16.2万远超预期，加息押注升温
1. BTC is digesting overbought conditions in the high range, altcoins like $ZEC are following the market. Yesterday's price is basically the short-term ceiling.
2. The storage sector collectively surged last night, xStocks will most likely have to catch up/repair discounts.
3. This pullback is not a bad thing; the rate hike is definitely going to happen, whether in September, October, or November. The sooner the risk is digested, the sooner the daily RSI can fall back from the overbought zone.
4. Institutions are also divided: net inflow was $101 million on the 2nd, but there were large outflows on the 1st and 3rd.
My thinking: 78,000 is short-term support; if the CPI data is bad, it might break below 75,000 🔥 US Treasury yields have surged again, will this fire spread to BTC?
What we really need to watch now is not just the non-farm payrolls, but the sustained high long-term interest rates. The 10-year Treasury yield once surged to around 4.81%, a multi-year high; the 30-year yield also surpassed 5%. Behind this are fiscal deficits, massive bond issuance, inflation, and AI company financing all competing for funds.
This is indeed unfavorable for BTC in the short term.
Yields ↑ → funding costs ↑ → risk asset valuations under pressure.
Interestingly, this time the market's concern is no longer just "the US economy is too strong," but that the US fiscal system itself needs to bear higher financing costs. After the US national debt exceeded $40 trillion, the pressure on the long-term bond market will become increasingly noteworthy.
So BTC should not be simply interpreted as "Treasury yields rise = BTC must fall."
📌 Short term watch interest rates, mid term watch liquidity, long term watch fiscal policy.
If the 10-year yield continues approaching 5%, both BTC and ETH need to guard against valuation compression; but if high yields eventually evolve into fiscal pressure, it could instead reinforce market demand for scarce assets.
⚠️ So the most important thing now is not to guess price direction, but to keep an eye on: Treasury yields, the US dollar, CPI, and whether BTC can hold key support levels.
Where this long bond fire truly burns is just beginning to be tested.
#BTC兑黄金比率升至1月以来高位，强势能否延续？ #8月非农16.2万远超预期，加息押注升温 After the nonfarm payrolls hit, Bitcoin and gold both surprisingly dropped together
The ratio just touched about 18.17, meaning one BTC can exchange for about 18 ounces of gold, reaching a new high since January this year. Many regard this as a badge of relative strength for hard assets. However, the nonfarm payrolls came in at 162,000, crushing the expected 56,000—nearly three times the forecast. The rate hike bets rose from about 50% to around 60%. BTC dropped from around 81,000, and gold prices also fell. Both seemed to be treated like the same basket in US trading, repriced by interest rates and drained together.
Suddenly it makes sense: the ratio does not mean immunity to rate hikes. It only shows BTC is stronger relative to gold. Absolute prices still suffer from funding costs and dollar drain. Since most economies have debt-to-GDP ratios over 100%, the dilution narrative can lift both together. When employment is strong and discount rates tighten, both can be hammered simultaneously. Correlation and relative strength are two different things. Don’t mistake the ratio as a safe-haven switch.
Next, don’t just focus on the ratio number. Watch the CPI on the 11th and the FOMC on the 15th-16th to see if they can push back the 60% rate hike bets. Soft inflation might cause both to resonate again; hard inflation will truly split the basket. Whether the ratio can hold depends on the interest rate path, not just yesterday’s nonfarm bar. First watch the interest rate path, then the ratio. Don’t invert $BTC #8月非农16.2万远超预期，加息押注升温 #BTC兑黄金比率升至1月以来高位，强势能否延续？ #OKX预言家：9月FOMC利率决议预测上线 📊 The non-farm payrolls have pushed back the "rate cut trade," but assets with real logic are actually easier to spot.
August non-farm payrolls increased by 162,000, far exceeding expectations, with the unemployment rate holding steady at 4.1%. After the data release, US Treasury yields and the dollar strengthened simultaneously, and the expectation for a rate hike in September clearly intensified. The market is no longer trading on whether the data is good or bad, but on whether interest rates will rise again.
$BTC: Under short-term pressure, but ETF funds and institutional demand remain key. 80,000 is the first psychological barrier; whether it can hold above this level again is more important than just looking at a single bearish candle.
$ETH: More sensitive to liquidity than BTC, so it has greater elasticity after rate expectations reverse. When macro conditions loosen again, ETH often amplifies the market moves.
$XAU: Strong non-farm data suppresses gold, but the safe-haven logic remains; in the short term, it looks more like a tug-of-war between yields and safe-haven funds.
$SKHYNIX, $SNDK: The demand logic for AI computing power, HBM, and NAND has not been disrupted by the non-farm data for now; what really matters is whether orders and profits can continue to be realized.
⚠️ So don’t just focus on price moves now. Look at interest rates from a macro perspective, BTC for capital flows, AI for orders, and gold for safe-haven demand.
Next week’s CPI is the real second card.
Is this pullback a risk release or a trend weakening? I tend to wait for CPI to give the answer rather than betting on direction prematurely.
#BTC兑黄金比率升至1月以来高位，强势能否延续？ #OKX预言家：9月FOMC利率决议预测上线 🔥 Is AI computing power still accelerating? I think it hasn't cooled down yet.
Let's look at the hardest data first: Dell's AI server backlog has reached $95 billion; Broadcom's Q3 AI semiconductor revenue is $16.7 billion, a year-on-year surge of 221%, and it expects AI revenue to reach $115 billion in 2027 and further surge to $230 billion in 2028.
So the question now is no longer "Is there demand for AI?" but rather—can the demand continue to exceed expectations?
Broadcom is the most typical example: strong performance and AI revenue, but because the market's future expectations are too high, even a slight guidance miss causes the stock price to be hammered. ⚠️
This is actually very similar to BTC right now.
The BTC to gold ratio has risen to 18.17, hitting a high since January, indicating BTC has recently regained strength relative to gold. But after this strength, the market also needs new incremental expectations to support it.
📌 So now I’m focusing on three things:
AI looks at orders, BTC looks at capital, altcoins look at sentiment.
A sound fundamental doesn’t mean prices won’t pull back; strong expectations don’t mean you can chase prices blindly.
What will truly decide the market next is whether earnings can continue to exceed expectations and whether capital can continue to take over.
#8月非农16.2万远超预期，加息押注升温 #BTC兑黄金比率升至1月以来高位，强势能否延续？ #BTC兑黄金比率升至1月以来高位，强势能否延续？
Nonfarm payrolls at 162,000, directly crushing the expected 80,000, bulls got excited for nothing
Last night I was still wondering if 80,000 could hold, but when the nonfarm data came out, it completely stunned me.
The expectation was only 56,000, but the actual number was 162,000. I stared at that number for several seconds, thinking I had read it wrong. The June and July data were also significantly revised upward by 55,000, with July changing from a negative 23,000 to a positive 21,000. The average monthly number over the past year was only 31,000, so this is a fivefold increase.
During the day, Waller just came out and gave a dovish signal. He said if inflation data continues to improve, he tends to keep rates unchanged in September. The market immediately cheered, BTC surged to 82,000. But then the nonfarm data slapped back at night, pushing the rate hike probability from 50% to over 60%, and BTC dropped from 82,000 back to 79,000.
But don’t celebrate too early. In August, hourly wages only rose 3.1% year-over-year, so wage pressure hasn’t really increased. The core issue is next week’s CPI, which is the real key to deciding whether there will be a rate hike in September.
Right now, on Polymarket, the rate hike probability is split 50-50, no one dares to say for sure. BTC touched 82,000, then dropped back. Nonfarm won, but the war isn’t over yet, waiting for next week’s CPI
$BTC $ETH $ICX cold wallet suddenly surged🔥
The old coin, silent for more than half a year, unexpectedly triggered a wave of activity, and many people didn't react in time.
This is not just a random pump; the chain shutdown + token migration countdown for SODAX is catalyzing the market. The old ICON mainnet will shut down by the end of the year, and ICX can be swapped 1:1 for the new token SODA. The two-way exchange window will close by the end of September.
Some holders choose to lock their tokens for migration, passively tightening the circulating supply. Coupled with funds gathering on local Korean exchanges and the old project's community betting on a revival, buying pressure suddenly surged.
After breaking through key resistance, stop-loss orders were triggered, and short-term speculative funds followed in, pushing the 24-hour gain to over 40%.
Now the problem is quite real:
This surge is driven by migration expectations, not by new ecosystem achievements. The hype came fast, profit-taking is heavy, and indicators are already overbought.
There is huge selling pressure at round number levels, and once the positive news is realized, the rally could easily run out of steam.
You can keep an eye on the migration progress, but don't rush in at the top. This kind of old coin pulse comes fast and retreats even faster. #Pre-Nonfarm Observer: The 80,000 Level, Tonight Will Tell the Truth
BTC is stuck at 81,000, neither rising nor falling. Last night's rebound was driven by Waller's dovish tone; as US Treasury yields dropped, the price went up. But whether the 80,000 level can truly hold depends on tonight's Nonfarm data.
Market expectations are for an increase of 56,000 jobs, previous value -23,000, unemployment rate 4.1%. Three scenarios:
Hot data (100,000+ jobs, wage increase): US Treasury yields rise, rate hike expectations return, the 80,000 level faces pressure again, likely a false breakout
Moderate data (30,000-70,000 jobs, stable unemployment): the ideal scenario, employment cools gradually but the economy doesn't collapse, BTC has a chance to turn 80,000 from resistance into support
Data collapse (negative jobs, unemployment spikes): market starts pricing in recession, risk assets are indiscriminately sold off, BTC can't hold up
Many think worse employment is better for BTC, but that's a trap. When it gets bad enough, the market stops playing games with the Fed and directly seeks safe havens.
Tonight I won't bet on a single direction. Both bulls and bears hurt near 80,000; wait for the data to land, wait for the first candlestick to complete, wait for volume confirmation before making a move.
Either you explode or you make a killing — this is true, but the premise is not to get stopped out in the first candlestick.
#BTC #NonfarmData #80kLevel #CalculateYourPosition $BTC $ETH $SOL The non-farm payrolls pushed back the "rate cut trade," but some assets actually reveal who has the real logic!
#8月非农16.2万远超预期，加息押注升温
After the non-farm payrolls added 162,000, far exceeding expectations, $BTC came under renewed pressure. It's not that there's negative news within Crypto, but the market is re-trading high interest rates, with US Treasuries and the dollar strengthening together. Fortunately, ETF inflows remain strong, institutional demand hasn't disappeared, and the upcoming CPI is the key.
$ETH is more sensitive to liquidity than BTC, and pressure is more evident after the interest rate expectations reversed. However, ETFs, staking, and corporate holdings continue to absorb circulating supply. As long as these lines don't weaken significantly, ETH remains an asset that can easily amplify elasticity once macro conditions ease.
$SKHYNIX The real change in AI demand is competition. SK Hynix still holds the lead in HBM, but Samsung is rapidly catching up with HBM4. The market's next focus is no longer whether there is demand for HBM, but who can capture more profit in AI memory capacity expansion.
$XAU After strong non-farm data, gold is suppressed by high yields, but geopolitical risk aversion still supports it, maintaining a positive outlook on gold; $SNDK is strengthening against the trend, with funds continuing to trade the tight supply of NAND and enterprise SSDs driven by AI; $OKB's focus remains on X Layer. After RWAperp launched in 19 markets, the real test is whether new applications can continuously convert into trading volume and users.
#BTC兑黄金比率升至1月以来高位，强势能否延续？ Gold ETFs increased holdings by nearly 10 tons, with option volatility drawing attention
Gold is a bit conflicted here
ETFs added nearly ten tons in one go a couple of days ago
Then gave back about three tons the next day
XAUT is grinding around 4420
Resistance is seen near 4450
Support around 4400 still finds some buyers
The non-farm payrolls raised rate hike expectations
Both the dollar and real interest rates are relatively strong
So it's not easy for gold prices to rally unilaterally
Option volatility has been highlighted
Indicating big money is hedging directionally, not just sitting out
So my judgment is
Don't chase the fantasy of breaking 4500 in the near term
First watch who fails to hold the 4420-4450 range
Only if it holds can we talk about the next wave of risk premium $XAUT #黄金ETF增持近10吨，期权波动受关注 #BTC兑黄金比率升至1月以来高位，强势能否延续？ #8月非农16.2万远超预期，加息押注升温
The three major U.S. stock indexes all closed lower. But the storage chip sector exploded—SanDisk rose nearly 12%, SK Hynix rose over 8%, Micron and Western Digital rose over 6%. The Philadelphia Semiconductor Index rose 3.4% against the trend.
The market is showing a clear signal: while rate hikes suppress valuations, the fundamental logic of AI hardware remains intact.
The stronger the non-farm payrolls, the higher the probability of rate hikes, theoretically putting tech stocks under pressure. But funds are actually flowing out of software stocks and rushing into hardware. On the same day, the iShares Software ETF fell about 2.4%, sharply contrasting with the semiconductor index.
In short, the market is repricing AI—after two years of hype around models and applications, it’s now clear that the real orders are going to the "shovel sellers" like GPUs, storage, and optical modules. SanDisk just signed a $93.9 billion five-year long-term agreement, and SK Hynix’s HBM capacity is locked until 2027. This is not speculation; these are real orders backed by real money.
My judgment: rate hikes change the cost of capital but cannot alter the rigid demand for AI computing power. The storage sector is a safe bet. $CORE Community Extreme Viewpoint Analysis: CORE Cross-Chain Bridge Controversy, Separating Rumors from Facts
This is a very radical bearish long article circulating in the community, widely spread online. It mixes real events, subjective speculation, and conspiracy theories, so objective facts and subjective guesses need to be separated.
📝 Objective facts that have occurred
1. Node reward logic BUG caused excessive minting of CORE tokens, breaking the original total supply narrative. The excess was later destroyed through a hard fork. This incident indeed shook part of the community's faith.
2. The early BTC Hashlock cross-chain bridge once experienced shutdowns and redemption restrictions. A large number of users' BTC were staked on-chain and could not be freely redeemed, which has been the community's biggest long-term pain point.
⚠️ Subjective conspiracy theories, not yet confirmed facts
1. "Deliberately shutting down the cross-chain bridge and freezing users' BTC to pump and dump and prepare for exit" is a logical deduction by netizens without official solid evidence.
2. "Opening the cross-chain bridge constitutes fraud and entails criminal liability" is a personal legal guess by netizens and cannot be taken as a definitive conclusion.
3. "The project team is preparing to declare technical failure and give up, permanently locking BTC"—currently, the official side has not released such signals.
Current real situation
1. The CORE node BUG incident has been resolved by a hard fork, and ordinary users' CORE staked assets have been returned to their wallets.
2. The BTC Hashlock staking channel still has redemption restrictions, which remains the community's biggest unresolved pain point. Many users' BTC staked assets face difficulties in the exit process, which is also the core attack point for bears.
3. SatPay and institutional products are still in testing and iteration, but as long as the cross-chain BTC redemption issue is not properly resolved, the community trust gap will be hard to repair.
Objective view: The BUG incident really happened; cross-chain bridge redemption difficulties are a real user pain point; however, "deliberate fraud and exit schemes" belong to unconfirmed conspiracy theories.
Whether bullish or bearish, the redemption risk of BTC staked assets is a risk point that every participant must seriously consider. Yesterday's pullback was actually quite healthy; it can't go straight up every day. It's now at 79,600, not far from the 82,000 high, nor from the 77,000 low—just stuck in the middle. If I were out of position, I wouldn't chase now; if you have a position, don't rush to sell. Volume is low over the weekend, so don't take the erratic moves seriously. The key focus for next week is just one thing: whether 79,000 can hold or not.
$BTC ENA back to 0.17, I’m actually not in a hurry to bottom-fish
ENA is currently around $0.166, down about 3.7% in 24 hours. More importantly, about 171.88 million ENA will be unlocked on September 5, accounting for about 1.1% of the total supply, including 93.75 million from core contributors and 78.13 million from investors.
At the same time, although the fee switch has been approved, the buyback has not truly started. The rule requires the 14-day average circulation of USDe to reach $7.5 billion first; on September 2, it was about $4.22 billion, still about 78% short.
So I’m only watching two things: whether tokens flow significantly to exchanges after unlocking, and whether USDe can continue to expand.
If 0.16 holds: continue to observe with a bullish bias.
If it falls below 0.15 and exchange inflows increase: switch to cautious.
The biggest mistake now is not misjudging ENA’s direction, but treating the "future buyback" as "today’s buying pressure" prematurely.The anonymous privacy coin $ZEC has finished its pump, and it should be $xMRVL's turn next. Previously, after ZEC's pump peaked, ZEN and $DASH put on a show, and finally, the true privacy coin XMR launched a major bull run, breaking its all-time high and entering the top ten by market cap.
Since XMR was delisted by major exchanges, it has maintained its own independent market trend. XMR's underlying protocol is designed with ring signatures, stealth addresses, and confidential transactions—not as "add-on features," but as integral parts of its core.
When you send a transaction with XMR, it is private by default, requiring no additional third-party tools. Even if the blockchain is fully public, others cannot see exactly how much you received or to whom you sent it. Some say Monero's liquidity is poor and it's not as mainstream as BTC. That's true; it's a drawback. But when it comes to real privacy, mixers are at best a "fig leaf," while Monero addresses the problem "at the source."
So I've always believed: mixers are a temporary compromise, but Monero is the true privacy coin. #NonfarmPayrollsExploded Observer: Expected 2.9 times, rate hike probability maxed out
At 8:30 tonight, once the data came out, the market was stunned.
US August nonfarm payrolls increased by 162,000, expected only 56,000, hitting 2.9 times the expectation. Previous value was -23,000, this jump is huge.
CME rate hike probability jumped from about 50% directly to 62.3%, next stop 70%.
Market reaction was honest: BTC plunged from 80,500 to 79,200, gold plummeted over 70 dollars, US Treasury yields soared. Previously, the market logic was "cooling employment → rate hike probability down → risk assets rebound," but tonight this script was completely overturned.
But one detail is worth noting:
A single nonfarm payroll report cannot solely determine the direction of the September FOMC.
Next week's August CPI is the real final judge. If CPI also exceeds expectations → September rate hike is locked in; if CPI is moderate → there may still be a chance.
---
Three key milestones are set:
Tonight's nonfarm ✅ released, bearish impact settled
Next week's CPI → the real direction switch
September 15-16 FOMC → the finale
Before these are completed, the direction is still undecided.
Don't rush to bottom-fish or short tonight. The initial candlestick right after the data release is often swept by algorithms; wait for the market to digest before acting. My short positions remain, but no rush to add; wait for CPI to give the final signal.
#BTC #NonfarmData #RateHikeProbability #CPIIsTheRealJudge #CalculateYourOwnLeverage $BTC BTC.D is not a fixed value; it oscillates within a range. When BTC.D rises, funds flow into BTC, and altcoins generally come under pressure; when BTC.D slightly falls, altcoins get a chance to breathe.
Currently: BTC.D maintains a high-level range oscillation and has not continued to decline.
$SOL: Can receive capital support during the BTC.D oscillation and pullback window;
ZEC, ENA: Even at high BTC.D levels, they can experience short-term pulses based on narratives, but it's difficult to establish a large-scale trend;
$DOGE: The market is almost unaffected by small BTC.D fluctuations and is entirely sentiment-driven.
Do not expect altcoins to collectively enter a major bull market when BTC.D remains high. Only when BTC.D shows a sustained decline will the altcoin sector have an overall opportunity. During high-level oscillation phases, it is only suitable to capture local themes and leading projects.
#BTC兑黄金比率升至1月以来高位，强势能否延续？
#HOOD收涨创年内新高，链上收入居公链第一 Non-farm payrolls crash the market, but memory chips collectively surge! SanDisk joins the S&P 100, AI memory goes completely crazy
SanDisk surged 11.9% in a single day to $1740, Micron rose over 6% breaking the $1000 mark, SK Hynix rose over 4%, and the Philadelphia Semiconductor Index rose over 3%.
Why?
AI's strong demand is supporting the market. Goldman Sachs expects DRAM and NAND supply-demand tightness to continue until 2027, with AI server DRAM usage 8 to 10 times that of traditional servers. Samsung's high-end AI memory capacity is sold out through the end of 2026.
SanDisk: Data center revenue surged 1298% year-over-year and doubled quarter-over-quarter. Even more impressive, it was officially included in the S&P 100 on September 21 — passive funds are immediately coming to lift the stock.
Micron: Plans to increase HBM monthly capacity to 100,000 wafers by year-end; the most advanced HBM is sold out for all of 2026. However, 80% of the Taiwan union supports a strike, so supply could be cut again at any time.
My judgment: The storage AI logic is not finished yet; short-term chasing of highs requires caution. SanDisk has passive funds to catch the stock, Micron has long-term benefits but union risks. The real direction depends on the CPI on September 11; if SanDisk's September 30 earnings report and guidance exceed expectations, it could rise another wave.
$SNDK $MU $SKHYNIX The US added 162,000 nonfarm jobs in August, while a Reuters survey expected only 56,000. The actual figure is nearly three times the expectation. "Far exceeding expectations" is not an exaggeration. "Rising bets on rate hikes" is also true. After the data release, the market's pricing for a 25 basis point Fed rate hike in September rose from 49.4% to 58.4%. The two-year US Treasury yield briefly rose to around 4.38%. Wall Street's first reaction was standard: the stronger the employment, the more confident the Fed is to continue suppressing inflation. Interest rates rise, valuations come under pressure. However, the market did not lose control. As of the close on September 4, the S&P 500 index fell 0.4%, the Nasdaq fell 0.3%, while the Russell 2000 index actually rose 0.2%. If this nonfarm report were enough to trigger a sustained tightening cycle, the market should not have fallen so little. My judgment is straightforward: this data is moderately bullish for risk assets in the medium term. It increases the likelihood of a September rate hike but significantly reduces concerns about the economy sliding into recession. A 25 basis point rate hike can be calculated and digested. Corporate profits entering a down cycle would fundamentally undermine the bull market. Previously, the market was worried that US employment was suddenly slowing sharply. The initial July nonfarm figure showed a decrease of 23,000 jobs, which once sparked recession discussions. The latest report revised July to an increase of 21,000 jobs, and June was also revised upward. The two months combined added 55,000 more jobs. This revision carries more weight than the single 162,000 jobs in August. It indicates that summer employment did not experience a cliff-like drop. Companies slowed hiring but have not yet shifted to widespread layoffs. The unemployment rate remains at 4.1%, and the labor force participation rate has risen Another chain cut off!
Ondo's move is quite decisive
On September 8th, Aptos and Noble directly stopped minting USDY
Osmosis and Mantra using the IBC bridge also got hit
What I'm watching is the phrase "fully backed reserves"
Simply put, it's about fearing cross-chain issues
Better to take it back and manage it yourself for peace of mind
Whales holding over 1000 can still redeem at net asset value
The window is open until 2027
What about small holders?
They can only bridge to other networks themselves
It's a bit troublesome
But at least the money isn't locked
This wave isn't a bad thing
RWA projects are starting to contract their battle lines
Instead of spreading chains everywhere to look strong
Better to concentrate liquidity on a few main battlefields
I guess more projects will follow
Cross-chain arbitrage opportunities
Might be changing soon
Do you have USDY in your hands?
$APT $ONDO
#8月非农16.2万远超预期，加息押注升温 #BTC兑黄金比率升至1月以来高位，强势能否延续？ 链上资金再平衡：以太坊主网单日净流入4647万美元居首，Robinhood Chain领跌L2净流出2107万美元 9月5日数据显示，过去一日链上资金明显向以太坊主网与少数老牌公链集中：以太坊净流入4647万美元，约为第二名Solana的4.5倍；另一端，Robinhood Chain、Arbitrum、Hyperliquid等合计净流出逾1亿美元，其中四大L2（含Robinhood Chain）合计净流出约6955万美元，市场呈现回流以太坊、撤离L2的再平衡格局。 Robinhood Chain成为当日最大净流出方，净流出2107万美元。这条2026年7月上线的券商系L2基于Arbitrum Orbit构建，近两个月凭借Meme币与代币化股票交易量位居前列，链上手续费一度压过以太坊、Solana和Base，是今年最受关注的新兴L2之一。但从交易量领先到桥接资金转为净流出，仅用了很短时间，显示热点交易驱动的高活跃度未必能转化为持续的资金沉淀。与此同时，Arbitrum、Base、Polygon同步转为净流出，四大L2合计流出约6955万美元。永续合约公链Hyperliquid净流出18Nonfarm Payroll Data Incoming! Understand Its Real Impact on the Crypto Market
Nonfarm payrolls are the core US employment data. They do not directly determine coin prices but rewrite market expectations for Fed rate cuts, directly amplifying crypto market volatility. During data release, flash spikes and liquidations often occur.
Understand the market in three scenarios:
1. Nonfarm significantly exceeds expectations (strong employment)
Rate cut expectations are delayed, the US dollar and Treasury bonds strengthen, risk assets come under pressure, BTC and ETH tend to drop short-term, altcoins fall even more.
2. Nonfarm mildly weakens
Employment cools down slowly, rate cut expectations rise, which is a relatively friendly environment for the crypto market, making it easier for major coins to rebound.
3. Nonfarm data is extremely bad
Not a positive signal; it triggers recession fears, causing simultaneous sell-offs in US stocks and crypto. Bad news is a real bearish factor.
⚠️ Two very critical realities:
The first candlestick right after nonfarm release is often a fake-out, frequently rising then falling or falling then rising. Don’t chase the spike impulsively.
Nonfarm is just a catalyst; after short-term volatility, the market will return to its original technical trend.
Practical tips
Do not heavily position in advance to bet on nonfarm results; volatility will spike instantly.
Wait for the data to settle, observe 1-2 candlesticks to distinguish real moves from fake spikes before acting.
Altcoin risk during nonfarm events is extremely high; try to reduce position size.
On nonfarm night, have you ever been stopped out by a spike? Share your experience in the comments.⚡ The market is entering a period where an economic number could reverse both Bitcoin, gold and stocks. A stronger-than-expected US jobs report pushed bond yields higher, bringing back expectations of a Fed rate hike in September. Bitcoin slipped below $80,000, while gold recorded a weekly decline of more than 1%. It's worth noting that a strong economy is unnecessarily good news for risky assets. The U.S. added 162,000 jobs in August, far exceeding the forecast of 65,000. The unemployment rate held at 4.1%, causing the U.S.Robinhood's on-chain revenue has surged to the forefront, which is far more interesting than just the stock price hitting a new high.
Previously, everyone watching HOOD focused on retail trading, options, and crypto fees. Now that on-chain revenue is emerging, it shows that what they want to build is not just a "broker better at crypto trading," but a platform that controls user entry points, trading behavior, and settlement networks all in-house. Arbitrum has also been ignited in the process, because the revenue sharing brought by Robinhood Chain has made the market seriously ask for the first time: can the L2 tech stack actually generate cash flow?
I would be cautious: revenue entering the ecosystem does not automatically mean it goes into the pockets of token holders. Many crypto narratives tend to translate "the company making money" into "the tokens I hold should rise." There is governance, distribution, compliance, and a long road in between.
#HOOD收涨创年内新高，链上收入居公链第一 What makes BTC most intoxicating right now is not its rise, but that it has started to outperform gold.
The ratio has reached a high since the beginning of the year, indicating that some money in the market is no longer satisfied with "buying safe havens"; it is re-betting on risk elasticity. Gold is like a safe, BTC is like a safe with volatility, and when the market is favorable, the latter looks especially attractive.
But I tend to be more cautious at times like this. BTC strengthening against gold certainly indicates a recovery in crypto risk appetite; however, once U.S. Treasury yields and the dollar rise again, the first to be questioned will be this kind of "high-elasticity safe-haven asset." True strength is not about running fast, but about having buyers willing to catch the fall during a pullback.
Whether this rally can continue depends not on slogans, but on whether funds are willing to treat BTC as a portfolio asset again rather than just a trading instrument.
#BTC兑黄金比率升至1月以来高位，强势能否延续？ Once the non-farm payrolls came out, the hardest part for the market wasn’t that the "data was good," but that it pushed the rate cut hopes further into the future.
August added 162,000 jobs, and the unemployment rate remains at 4.1%. This set of numbers directly contradicts the trades from a few weeks ago that claimed the "labor market was about to collapse." The problem is, wage growth isn’t strong enough to make ordinary people feel at ease, and inflation is still sticky. Simply put, companies haven’t done major layoffs, consumers haven’t really caught a break, so the Fed has even more reason to keep a hawkish stance.
What I find most glaring here is: the market wants a soft landing story, but the data says "we can still hold on, so rate hikes can continue." Risk assets fear this kind of environment the most—bad news isn’t bad enough, and good news just turns into interest rate pressure.
#8月非农16.2万远超预期，加息押注升温 🚨 US jobs data has just dealt a blow to expectations of interest rate cuts. The August report showed that the economy added 162,000 jobs, far exceeding forecasts, causing bond yields and the dollar to rise again. Bitcoin after surpassing $82,000 has retreated to around $80,000, showing that the market is still extremely sensitive to each change in Fed policy. It is worth noting that good economic news no longer means a bullish market. Strong employment helps reduce recession fears, but at the same time gives the Fed more reasonNonfarm in August has just come out strong: The US created 162K more jobs, nearly 3 times the forecast, unemployment remained at 4.1%. But instead of supporting the Fed to keep/raise interest rates to control inflation, Trump asked the Fed to LOWER INTEREST RATES IMMEDIATELY. Trump argued that the US economy is strong enough, credit is improving, so high interest rates are putting the US at a disadvantage. 🔥 He even threatened to stop trade with countries where the US has a trade deficit if the Fed does not act. The paradox lies here: The stronger the nonfarm is, →the more the market is worried about the Fed SanDisk surged nearly 200 points overnight, did Nvidia really place an order?
That SanDisk, last night’s move wasn’t just a rally, it was a launch on the spot.
An epic explosive surge, even the bears (me) got heart attacks just looking at it.
At first, I thought Nvidia suddenly started using SanDisk devices, but after checking the news, I found this was actually three fires combined:
On September 1, Dell’s earnings call explicitly said the AI servers are most short on “DRAM, then NAND”;
On September 2, Nvidia signed an agreement to acquire Hugging Face, disclosed on September 3;
On the same day, Kioxia also stated they are closely cooperating with Nvidia to develop AI ultra-high-speed SSDs.
But it must be made clear, there is currently no announcement of “Nvidia officially purchasing SanDisk devices.”
SanDisk can fly because it has been tied with Kioxia for 25 years, jointly developing and manufacturing NAND, and it is also part of Nvidia’s Storage-Next ecosystem.
I used to only focus on GPUs, but now I finally realize: graphics cards handle computing, but massive data needs a place to be stored?
So this isn’t a baseless rally, but don’t imagine “participating in the ecosystem” as a “big order landing.”
The story soared nearly 200 points overnight, now samples, mass production, and real orders need to catch up quickly.
SanDisk, you’re really fierce, but you really don’t make it easy for people to get on board!
$SNDK $NVDA $ZEC
#闪迪铠侠拟投310亿美元，NAND供需重估 #闪迪MSCI调仓生效，NAND估值受关注 #波动雷达：币种异动观察 ZEC Follow-up Tracking Manual｜Observation Signals + Price Plan + Scenario Simulation
Based on the current pulse market around 1050, the upcoming key variables are broken down into three parts: what to watch, how to act, and how it might move.
1. Key Observation Signals (in order of priority)
① Volume-Price Relationship (most core)
Continuous volume increase during the rally with price holding steady indicates real capital support and the trend can continue; price stagnation with a sharp drop in volume means the main force's willingness to push the price up is declining, beware of distribution after high-level sideways movement; volume surge during a decline signals the start of a sell-off panic, reduce positions immediately.
② Chip Turnover Situation
Increased frequency of large on-chain transfers and continuous chip flow to exchanges indicate that big holders are preparing to sell; OTC premium narrowing or turning negative means institutional buying is cooling down, signaling liquidity premium has peaked.
③ Order Book Structure
Continuous thickening of sell orders above, especially pressure accumulation in the 1080–1120 range, indicates strong resistance and increased difficulty in breaking through; sparse buy orders below mean a thin buffer for declines, so a rapid drop is likely once selling accelerates.
④ News Catalysts
Focus on whether Grayscale ETF maintains continuous net inflows, as this is the only substantial positive liquidity factor; slowing inflows signal weakening momentum; also watch for new positive narratives on privacy coins—without new catalysts, it’s hard to push prices higher relying solely on existing funds.
2. Price Plan (execute upon trigger)
• 1080–1120 Dense Selling Zone: Take profits on main positions in batches, firmly no adding positions.
• Volume Breakout Above 1050: A strong continuation signal, keep only a small position for speculation, and set trailing stop losses.
• 980–1000 First Buffer Zone: Observe support strength; if not broken, keep base positions; if effectively broken, reduce positions by half.
• Effective Break Below 920 Market End Signal: Clear all positions and exit; do not catch falling knives or chase rebounds.
3. Scenario Simulation (Three Scripts)
Script A: Volume and price rise together, break through 1120
Low probability but possible. Requires continuous large inflows from Grayscale ETF combined with market sentiment resonance to open new space. Even if this happens, beware of large fluctuations at high levels; take profits incrementally with each rise.
Script B: High-level oscillation, repeatedly testing 980–1050
Most likely path. The main force pushes up while selling; the market looks lively but the center of gravity gradually shifts downward. The response is to trade high and low within the range, reduce positions by half, and avoid stubbornness.
Script C: Break below 920, panic-style crash
Refer to the historical 750→150 trend; once a low-liquidity asset breaks support, the drop often exceeds most expectations. The response is unconditional exit; wait for a low-volume sideways stabilization signal over several days before reconsidering.
4. One-sentence Summary
This round of ZEC is essentially a liquidity premium market, not a value revaluation market.
The characteristic of a premium market is: the faster it rises, the shorter the exit window. Profit-taking discipline is more important than judging price direction—the profit in hand is profit; unrealized gains are just numbers on paper. The position drop on the gold side did not appear on our order book. $BTC current price is 79,625.7, 24h -1.42%, amplitude 3.5%, turnover 14.6 billion USD, contract open interest 8.6 billion USD. Both safe-haven and risk assets are weakening simultaneously, indicating overall liquidity contraction, not money flowing from gold to crypto. It's more important to look at positions. The retail long-short account ratio rose from 0.7835 to 1.0165, and the large trader position ratio increased from 1.9534 to 2.1587; both sides are adding longs during the pullback. However, the funding rate has dropped for three consecutive periods: 0.0065%, 0.0045%, 0.0010%, with the long premium nearly zero. More participants but no matching capital, this kind of long structure is fragile. Short-term bias is bearish, 78,618.1 is very likely to be retested. Conditions for bullish reversal: price stands back above 81,377.7, funding rate rises, and large trader position ratio continues to climb. Conditions for bearish reversal: funding rate turns negative, account ratio continues to surge, indicating retail is catching the falling knife, and the decline will deepen. This is public market information and has little impact on $BTC alone.Sisters, do you think $ZEC can rally to 2000??
In three days, it rose from 830 to 1050, up more than 200 dollars, nearly 100% increase in a month, and over 2300% in the past year. Market cap surged to 17.3 billion, once breaking into the top ten cryptocurrencies. It stabilized at 800 the day before yesterday, 900 yesterday, and today it has stabilized above 1000, even breaking 1050 intraday.
The driving force behind this surge is very clear—since the launch of the Grayscale Zcash spot ETF, cumulative net inflows have exceeded 34 million dollars. Compliant funds keep flowing in, and the fundamental story is also brewing—Grayscale’s research report positions ZEC as "financial privacy in the AI surveillance era," which is no longer just speculation but supported by a narrative.
But the most critical point is that the shorts have been cornered. The long-short ratio on Binance and OKX accounts still shows more shorts than longs, at 0.61 and 0.32 respectively. Shorts still hold an overwhelming majority, but the price keeps rising—the shorts pay daily fees to hold on, losing more the longer they hold. The funding rate once hit -1%, meaning shorts pay longs. In the past 24 hours, about 36.6 million dollars worth of ZEC leveraged positions were liquidated, with 34.5 million from shorts being liquidated. Shorts lost over 34 million in one day, and 94% of liquidations were shorts holding on.
Shorts don’t die, the rally doesn’t stop. The market makers won’t let the price drop unless they blow out the shorts. Resistance above is 1080-1120, short-term support at 980-1000, and 920 is a crucial lifeline.
But don’t forget—this is an "event-driven + short squeeze" surge, not a healthy bull market rising slowly. At this level, chasing longs risks standing idle, and shorting risks being liquidated. If you want to play, wait for a pullback near 980-1000 before considering, set stop loss below 920, and target 1080-1100. Don’t heavy buy at the top, and definitely don’t catch a falling knife empty-handed.
Sisters, can ZEC rally to 2000?? Tell me in the comments!! 🧋💀
$BTC
$ETH
#8月非农16.2万远超预期，加息押注升温 Conclusion first: The nonfarm payroll data is not just "good," it's "ridiculously good." The addition of 162,000 jobs directly pushed the probability of a September rate hike from about 50% to over 60%. A rate hike is the biggest certainty ahead.
---
1. Nonfarm Payroll Data: Exceptionally Strong
The US added 162,000 nonfarm jobs in August, while market expectations were only 53,000-56,000. The actual figure is three times the forecast and exceeded the upper limits predicted by all institutions.
More importantly, the previous two months' data were revised upward by a total of 55,000 — July reversed from a "decline of 23,000" to an "increase of 21,000," completely shattering the narrative of "rapid employment deterioration." The unemployment rate remained steady at 4.1%, and the labor force participation rate rose from 61.4% to 61.6%. The only easing signal was that the year-over-year wage growth slowed from 3.2% to 3.1%, the lowest since June 2021.
2. Market Reaction: Surface Divergence, Fundamental Agreement
All three major US stock indices closed lower — Dow down 0.51% (-271.86 points), S&P 500 down 0.38%, Nasdaq down 0.29%. The Philadelphia Semiconductor Index surged 3.37% against the trend, with all 30 component stocks rising. SanDisk soared 11.90%, Micron rose over 6%. However, Apple fell 2.51%, Microsoft dropped 2.04%, and Tesla plunged 5.92%.
Spot gold briefly plunged over $110 to $4365/oz. Bitcoin dove from above $81,000, briefly falling below $78,650 and losing the $80,000 level. The 2-year US Treasury yield spiked to 4.416%, the highest since January 2025.
3. Rate Hike Probability: Not "Possible," but "Highly Likely"
CME FedWatch shows the probability of a September rate hike jumped from about 50% before the data release to 58%-60.3%. The chance of holding rates steady in October has dropped to 28.7%, with a 54.6% chance of a 25 basis point hike and even a 16.7% chance of a 50 basis point hike.
Allianz Chief Advisor Mohamed El-Erian noted this report shows labor market "demand and supply both far exceed expectations." However, Fed Governor Waller previously stated that if inflation data shows continued easing of price pressures, he leans toward supporting holding rates steady. The real showdown will be next week's CPI and PPI.
4. Why the Decline?
First, the semiconductor sector's rally against the trend is actually a warning sign. Capital is flowing into AI and memory chips, essentially seeking a "macro-resistant" safe haven amid high rate expectations. But this logic is fragile — once CPI data confirms inflation stickiness, high-valuation tech stocks will face a comprehensive valuation reset.
Second, the crypto market's pricing of rate expectations is just beginning. The nonfarm data "completely shattered the market's optimistic expectations of an imminent monetary easing." Bitcoin's plunge from above $81,000 is only the first wave of reaction. Higher US Treasury yields make risk-free assets more attractive, and a stronger dollar directly suppresses global liquidity.
Third, the FOMC meeting on September 15-16 is the real eye of the storm. Before then, any rebound may only be a brief respite from short covering.
Bitcoin at $80,000 and Ethereum at $2,500 are very likely the highs for September. The semiconductor sector's rally won't last long either. The next script is not "if it will fall," but "how much it will fall."
$BTC $ETH $ZEC #August Nonfarm Payrolls at 162,000 Far Exceed Expectations, Rate Hike Bets Heat Up
How to View the Sharp Drop in Gold, Silver, and Bitcoin During the Nonfarm Payroll Night
Data Released: Spot gold briefly dropped over $70 to $4405/oz; spot silver fell $1.5 to $65.7/oz. The US Dollar Index (DXY) rose 34 points to 99.36, while Bitcoin and Ethereum both experienced significant declines.
Many may wonder why, despite positive employment data signaling economic strength, various assets simultaneously faced selling pressure. The core logic lies in the market’s repricing of Federal Reserve monetary policy, creating a "good news is bad news" trading scenario.
Nonfarm payroll data is the Federal Reserve’s most critical reference for adjusting monetary policy. This employment data significantly exceeded market expectations, indicating the US labor market remains robust, which will restrain inflation from falling. Consequently, the market lowered expectations for Fed rate cuts and priced in a longer duration of high interest rates.
Complete transmission logic: Employment data exceeds expectations → market rate cut expectations cool down, prolonging high rates → US Treasury yields rise, US Dollar Index strengthens.
Gold and silver are non-yielding assets; the higher the interest rates, the greater the opportunity cost of holding precious metals. Meanwhile, a stronger dollar directly suppresses dollar-denominated precious metals, causing short-term capital to exit en masse and leading to a sharp and rapid decline in precious metals.
$BTC Bitcoin and $ETH Ethereum are high-risk assets, with their prices closely tied to the US dollar liquidity environment. When rates remain high and the dollar strengthens, capital tends to flow into risk-free assets like US Treasuries, exiting the crypto market. Coupled with increased market volatility during the nonfarm period, many leveraged positions triggered liquidations, further amplifying the decline.
Subsequent Market Outlook:
In the short term, the market is mainly driven by Fed rate expectations, with the dollar and Treasury yields as key indicators. Short-term volatility will remain intense, making blind bottom-fishing unwise. The 1-3 trading days after the nonfarm report are an emotional digestion phase, requiring close attention to subsequent data on wages and inflation to verify whether the labor market’s strength is sustainable.
In the medium term, a single month’s nonfarm data cannot determine the Fed’s final policy direction. If inflation falls again, market expectations for rate cuts will return. The medium-term trend for gold and crypto assets still depends on when the overall US dollar liquidity turning point occurs.
In short, the nonfarm data is just the appetizer; the upcoming CPI is the main event.
For now, avoid heavy positions; those who have lost money should not rush to recover but wait patiently.Last night I got stuck shorting SanDisk, but it made me realize an issue.
After Trump's speech last night, the market clearly went risk-on, and the storage sector was directly pulled up by funds.
I shorted $SNDK at 1688, and now the price is still around 1730, so this short position is temporarily stuck.
Honestly, from a short-term perspective, this trade doesn't feel comfortable.
But I'm not in a hurry to cut losses now.
The reason is simple: a strong rise doesn't mean the upward logic is over, but it also doesn't mean shorting is wrong.
From the chart, the biggest change for SanDisk this time isn't how much it rose, but that after a volume breakout, the price started to consolidate at a high level.
This indicates that funds haven't obviously withdrawn yet.
So what really needs to be observed now isn't "will it fall tomorrow," but:
Is the high-level consolidation a buildup of strength, or is it profit-taking?
If volume continues to break through around 1745, I'll admit the market is stronger than I thought and the short logic needs reevaluation.
But if it repeatedly fails to break higher at the top and volume starts to decline, I'll pay more attention to the pullback opportunity after this rally.
This trade also reminds me of a problem:
The most dangerous thing about shorting strong stocks isn't being wrong on direction, but being too early.
The market won't immediately fall just because you think "it's risen too much."
For now, I'll hold this position and observe.
If you were me, would you choose to hold on and wait for a pullback, or admit the mistake and exit immediately? The strange thing about the market right now is the clear divergence: investors have just poured $46.1 billion into global money market funds, indicating that large cash flows are still in a defensive stance. Meanwhile, $BTC is testing the price zone last seen in May. The important question is: will cash return to risk assets, or will Bitcoin lose momentum? Perhaps this is the signal worth watching the most. What do you think? #PONS
232x sounds great, but don't just look at the gains.
The key is that Uniswap Labs recently confirmed buying PONS, and the price surged 500% that day.
A decentralized exchange giant buying a token platform's coin is officially called a strategic partnership, but in reality, PONS now accounts for over 60% of Robinhood's on-chain Launchpad trading volume, and Uniswap's trading depth also relies on it. This business adds up.On September 3rd, there was a significant capital inflow into the US spot Bitcoin ETF.
The net inflow for the day was about $731 million, marking the largest single-day inflow since January 14th this year. BlackRock's IBIT alone absorbed about $454 million, accounting for more than 60% of the total inflow that day.
At the same time, the ETH spot ETF also saw a noticeable capital inflow again.
So what the market should really focus on now is not just "institutions are back."
It's whether this money can keep coming back continuously.
Especially the fact that IBIT's share is so high.
A large single-day inflow is certainly demand, but if it is mainly concentrated in one product, it also means a high concentration of funds.
More importantly, ETF inflows ultimately need to be considered together with spot prices and trading volumes.
If ETFs continue to attract capital and BTC prices steadily rise, it indicates that institutional demand is forming sustainably.
If it's just a sudden surge on one day followed by a quick outflow, it looks more like a position adjustment.
True institutional inflow is never just $700 million in one day.
It's about whether the money is still there a month later.
$BTC $ETH #8月非农16.2万远超预期，加息押注升温 Crypto Morning Brief
This time institutions really put in a big sum.
On September 3rd, the US spot BTC ETF saw a single-day net inflow of about $731 million, marking the largest single-day inflow since January this year.
Among them, BlackRock's IBIT product alone absorbed about $454 million.
More than 60% of the money went into one basket.
ETH ETFs also saw significant capital inflows during the same period.
On the surface, this looks like institutions are buying back in.
But I want to pour some cold water on that.
A $731 million inflow in one day is impressive.
But one day's data can’t prove that institutions have started a long-term return.
Especially with IBIT accounting for such a high proportion, it shows funds are indeed buying BTC, but it also exposes a problem:
Is this a sustained spot demand, or just a few large funds concentrating their portfolio adjustments?
So don’t just focus on today’s numbers.
Look at a week, look at a month.
If ETFs keep seeing inflows and BTC prices hold steady, then there’s something real.
Otherwise, $700 million in one day looks strong but might just be the market catching its breath.
Money coming in isn’t scary.
What’s scary is thinking the money will keep coming.
$BTC $ETH #财报观察员：博通业绩超预期，Snowflake上调指引 In the past 24 hours, the crypto market has returned to a state of divergence after a comprehensive rebound the previous day. BTC fell below $80,000, ETH and SOL retreated simultaneously, but private assets like ZEC and XMR bucked the trend and strengthened. More notably, the BTC spot ETF recorded a net inflow of $730.8 million the previous trading day, far above the preliminary data, but this capital occurred before the US non-farm payroll release. Therefore, the most important thing today is not to simply judge "why ETF buying is still why BTC is still falling," but to clarify the chronology: before non-farm payrolls, institutional funds clearly flowed back; after non-farm payrolls, macro expectations regained pressure, and the latest round of institutional fund direction has yet to be fully announced. This brings the current market closer to a macro-driven oscillating pullback rather than a confirmed capital retreat. The market pulled back again, but far from panic. As of 09:27 HKT on September 5, BTC was at $79,629, down 1.54% in 24h; ETH at $2,452.97, down 2.13%; SOL at $101.87, down 1.64%. According to CoinGecko Charts, the total crypto market capitalization is about $2.77 trillion, down 1.71% in 24h, and BTC holds about 57.66% of the market share. Compared to price, sentiment has cooled very little. The Fear & Greed Index dropped from 74 to 73, still in the "greedy" range. This means the optimism formed by yesterday's rapid rally hasn't disappeared after a day of pullback. The market is doing soBTC still hasn't reclaimed $80,000 after the 162,000 nonfarm payrolls announcement; last night's initial rebound didn't provide strong confirmation.
The U.S. Bureau of Labor Statistics reported an increase of 162,000 in nonfarm payrolls for August, with the unemployment rate steady at 4.1%; average hourly earnings rose 0.3% month-over-month and 3.1% year-over-year. Another detail to note: June and July were revised upward by a combined 55,000. Employment hasn't suddenly worsened, and wages haven't accelerated further.
Before 8 PM last night, BTC was around $79,400; after 3 AM, OKX quoted about $79,700. The price remains below the $80,000 threshold. The data only absorbed part of the uncertainty, and relying on a single nonfarm report to determine direction has a low success rate.
Today is the weekend, and I consider $80,000 as the emotional dividing line. If BTC stands back above and holds, then we can see if last night's drop was just pre-data position reduction; if the rebound continues to stay below $80,000 and breaks below $79,000, I will first reduce altcoin exposure and avoid adding leverage.
Sources: U.S. Bureau of Labor Statistics, OKX. Personal record, not investment advice.
$BTC Woke up in the middle of the night, and the market suddenly started "partying" again 😂
It was still falling last night, but after a sleep:
The crypto market is all in the green.
$ETH, $ZEC, which had dropped a few days ago, are now directly recovering, with some even hitting new local highs.
I think this rally isn’t driven by a single piece of news, but rather a combination of factors coinciding.
First, expectations for a Federal Reserve rate cut are heating up again.
Initial jobless claims data weakened, and the market started trading on the logic of cooling employment, loosening rate expectations, which naturally made risk assets feel better.
Second, geopolitical tensions are adding fuel to the "digital gold" narrative.
Oil prices are rising, gold is strengthening, risk-off sentiment is heating up, and BTC is also benefiting from some of this sentiment premium.
Third, institutional funds are still buying.
BTC ETF inflows continued in August, and institutional accumulation of ETH is also quite evident.
So these factors combined:
Easing policy expectations + geopolitical risk-off + institutional funds
Naturally, the market started to stir.
But I still want to remind you:
When prices rise, it’s easiest to forget the risks.
Especially after a recent downturn, a sudden continuous rally can easily lead to:
"The dip is over, the bull market is back, hurry and chase!"
And then...
The market gives you another needle. 😂
Plus, there’s the big variable of the nonfarm payrolls tonight.
So my own thinking remains:
The trend can be bullish, but don’t chase recklessly.
Keep holding your base positions,
Wait for a pullback if you haven’t entered yet,
Don’t heavily bet on direction before the data comes out.
The market will never keep rising just because you’re bullish.
Going slower actually makes it easier to capture the whole move.
$BTC $ETH $ZEC
⟡ Observe the trend and act accordingly
⟡ Know when to stop trading
⟡ Trade without attachment
The above is only my personal market observation and does not constitute investment advice. #8月非农16.2万远超预期，加息押注升温 Last night's non-farm payrolls far exceeded expectations, pushing back the hope that the Fed might not raise rates in September. BTC briefly broke through 82K before falling back to around 80K; now the market is back to a very clear contradiction: ETF funds are strong, but employment, oil prices, and U.S. Treasury bonds are all pushing rate expectations higher.
① Non-farm payrolls: This is today's most important catalyst
The U.S. added 162,000 non-farm jobs in August, nearly three times the market expectation of 56,000; the unemployment rate remains at 4.1%, and employment for June and July was revised upward by about 55,000 combined.
This directly wiped out the dovish trades brought by Waller the day before.
FedWatch's probability of a 25bp rate hike in September rose to about 59%–65% at one point, closing near 58.4%.
My understanding is simple:
Employment is not bad enough for the Fed to have to stop.
So now the real determinant for September's rate decision is no longer employment, but the upcoming CPI/PPI.
② BTC: Clear profit-taking above 82K
This move is very representative:
Waller leans dovish
→ Yields and the dollar fall
→ BTC breaks through 80K
→ Shorts get squeezed
→ Non-farm payrolls exceed expectations
→ Rate hike probability rises
→ BTC falls back from 82K. 昨晚 8 点半，一份就业报告把市场按在地上摩擦了一遍。 美国 8 月非农新增 16.2 万人，市场预期 5.5 万。三倍。更狠的是前两个月数据一起往上修——7 月从"减少 2.3 万"改成"增加 2.1 万"，6 月从 2 万改成 3.1 万，两个月合计凭空多出 5.5 万个岗位。 一个月前全市场还在讲衰退故事，现在这个故事被官方数据自己推翻了。 黄金的反应很直接：现货短线跳水 70 美元，失守 4400。 但如果你只看到"黄金跌了"，你就漏掉了更重要的一半——它只跌了 70 美元，然后就跌不动了。 一、非农到底改了什么 拆开看这份报告，市场重新定价的不是"经济好不好"，而是"美联储还有没有理由不加息"。 加息概率从 52.6% 跳到 65%，2 年期美债收益率冲到 4.416%，是 2025 年 1 月以来的新高。美元指数跟着走强到 99.2。 对黄金来说，这是标准的三重压制：真实利率往上、美元往上、持有黄金的机会成本往上。 所以那 70 美元跌得合情合理。 但注意最后一格——标普 500 只跌了 0.08%，几乎没动。 这个细节很关键。真要是紧缩恐慌，股市不该这么淡定。市场现在的心$CORE CORE did complete the hard fork fix and token burn, but the price didn't rise, and the reason is straightforward:
All positive news has been priced in
After the vulnerability was exposed, CORE plummeted 19.5% in 7 days; the fix itself was already expected by the market. A 4% rise is just a response to returning to normal, not a new upward momentum.
The burn scale is negligible
Over 150 million tokens were permanently burned, which sounds like a lot, but CORE's total supply is 2.1 billion, so this only accounts for 0.7%. There are still large monthly unlocks putting selling pressure, so this burn cannot sustain a continuous price increase.
Trust cracks are hard to repair
The project team has yet to disclose details of the vulnerability, the exact amount of excess rewards, or whether any tokens have entered the market. Coinbase and four other exchanges once suspended deposits and withdrawals; doubts about governance capabilities won't be erased by a single hard fork.
Simply put: fixing the vulnerability was necessary, not beyond expectations. Without fundamental changes to the token economic model, this level of positive news is unlikely to reverse the long-term downtrend. $BTC $ETH #8月非农16.2万远超预期，加息押注升温 #HOOD收涨创年内新高，链上收入居公链第一 How did SanDisk's surge come about?
SanDisk 04's single-day surge of about 10.8% was not triggered by a single piece of news, but rather the result of several forces combined: "AI storage super cycle + NAND price increase + spin-off revaluation + sector resonance."
AI data centers have completely rewritten NAND demand.
Massive data generated by large model training/inference makes enterprise SSDs and high-capacity 3D NAND essential for AI infrastructure; Dell's COO bluntly stated that the AI server bottleneck is "DRAM, DRAM, DRAM, then NAND, NAND, NAND."
SanDisk's data center business is expected to grow by 437% year-over-year by FY26, with revenue structure shifting from consumer USB drives/storage cards to high-margin enterprise flash memory. The market no longer prices it as a traditional cyclical stock.
Enterprise 3D NAND contract prices may rise over 100% quarter-over-quarter this season, with price increases contributing two-thirds of SanDisk's quarter-over-quarter revenue growth, and volume only one-third. Under high operating leverage, profits explode nonlinearly, pushing gross margin to 80%.
Industry perspective: NAND supply and demand are so tight that prices have surged for two consecutive quarters.
Counterpoint data: Global NAND revenue in Q2 2026 rose 70% quarter-over-quarter, ASP up 55% quarter-over-quarter (Q1 was already up 90% quarter-over-quarter). AI infrastructure consumption plus manufacturers controlling production limit supply elasticity.
SanDisk's joint venture with Kioxia (Flash Ventures) operates with light assets and capacity, avoiding sole burden of wafer fab depreciation. Profit elasticity in the upcycle is sharper than Micron/Western Digital.
On 9/4, Micron +4.5%, Western Digital +5%, Seagate +5.6%, SK Hynix +5.8%, the entire storage sector rallied collectively, indicating this is an industry beta move rather than a solo surge by SanDisk.
Company perspective: "Value revaluation" after spin-off from Western Digital.
Spun off independently from Western Digital in February 2025, shedding the HDD low-speed business burden, becoming a pure NAND play directly tied to the AI narrative. The valuation framework rewrites from "cyclical hardware" to "AI infrastructure."
Signed multiple multi-year minimum volume long-term contracts (publicly disclosed framework about $93.9 billion), covering about half of FY27 and about two-thirds of FY28 bit supply, smoothing out cyclical fluctuations, giving institutions confidence to buy at high levels.
At the end of August investor day, targets were set for mid-to-high double-digit revenue growth and non-GAAP gross margin around 80% for FY28–30. Bernstein maintains a $3000 price target, further igniting sentiment.
Trading perspective: oversold recovery + macro respite + passive funds
In August, along with the semiconductor sector pullback, the stock price retreated over 30% from the 52-week high of 2354, stabilized before 9/4, representing an oversold rebound plus short covering.
On the day, US Treasury yields fell, and the market repositioned into high-growth semiconductors, providing a macro window for high beta storage stocks.
Included in the MSCI World Index effective 8/31, passive funds buying at the close also laid the groundwork for short-term momentum; on 9/4, with the Nasdaq flat and S&P slightly down, SanDisk surged against the market, showing strong active capital.
AI data centers consume enterprise NAND capacity → contract prices expected to double quarter-over-quarter → SanDisk's light asset model + long-term contracts lock in profits turning price hikes into 80% gross margin → spin-off revaluation + oversold recovery + storage sector resonance, that's how a single-day 10%+ surge happened.$BTC Nonfarm payroll data came out at 162,000, much better than the market expected. The Fed is immediately taking credit and is pressuring the Federal Reserve hard, forcing it to cut interest rates. They even threatened that if the Fed refuses to cut rates, they will resort to trade measures, invoking the president's tariff authority.
Once the news broke, the crypto market took off. Bitcoin surged from 77,000 all the way above 81,000, and Ethereum also climbed back above 2,500. Now the market doesn't really care about the nonfarm data itself; everyone is betting on the upcoming FOMC meeting, watching to see if the Federal Reserve will soften and compromise with a rate cut.
On the charts, funding rates have turned positive, long sentiment is booming, and bulls and bears are fiercely battling. This kind of volatile market carries a very high liquidation risk for contract traders.
The Fed openly called for a return to a low interest rate era, which is essentially a market signal. Everyone is starting to bet on a weaker dollar and looser liquidity. Crypto is especially sensitive to liquidity, so it led the way with a wave of gains.
But the trap is here: if the Fed stands firm and refuses to cut rates, the funds rushing in to go long now will get hit hard.
FOMO chasing is already appearing in the market. Historically, when news like this drives the market, once the hype fades, the market usually oscillates back and forth, repeatedly shaking out both longs and shorts. #8月非农16.2万远超预期，加息押注升温 #BTC兑黄金比率升至1月以来高位，强势能否延续？ #OKX预言家：9月FOMC利率决议预测上线