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Fundamental Research Report $SUI / Sui (Public Chain/L1) $0.69 (24h +1.31%)
First, the conclusion: Sui ($SUI) has a comprehensive score of 68/100, with fundamentals meeting but flaws. Looking at the three layers, the company team has cash reserves, the protocol network already shows signs of paid usage, and token capture has been implemented.
Sui (token $SUI), public chain/L1 track. Focuses on Move-based parallel settlement public chains. Benchmarked against APT and SEI. Traditional inter-enterprise collaboration relies on cloud servers and contract reconciliation; during high concurrency, gas surges, TPS is limited, and cross-chain bridge security incidents frequently occur. Public chains use a unified state machine for trustless settlement, reducing reconciliation costs. Average order value is $50-500/month, with USDC or fiat settlement required. Narrative-driven track, bear market usage cut by 60-80%. Positioned as an end-to-end vertical platform. Product launch: protocol layer officially operational, on-chain dashboard shows protocol fees accumulating, showing signs of paid usage. Latest version testnet-v1.77.1, valid submissions 9,999 times in the past 90 days.
On the user side, address MAU not disclosed, DAU not disclosed, 24h transaction volume $168.42M, TVL $415.15M. Wallet addresses do not equal monthly active users of natural persons; concentrated holdings of large addresses overestimate real user numbers. On the revenue side, user fees are undisclosed. Supply-side revenue is about 80-90% of user fees (to LPs and nodes), protocol treasury revenue is $807.7K, token holders buy and burn annualized without a burn mechanism. 24h transaction volume is business revenue, not revenue. Company profits do not equal protocol profits, protocol profits do not equal token holders making money. Code side: 9999 valid submissions in 90 days, 100 active contributors, latest version testnet-v1.77.1. GitHub is rated A, and the evidence can be directly verified. Investment background: For company equity financing, look at PitchBook/Crunchbase (A level); for token private and public offerings, check the whitepaper and release curve and on-chain contract unlock (A); market makers and ecosystem funding are B-level but do not represent long-term holdings by tech VCs; for technical integration, look at API/SDK access evidence (B); strategic partnerships and logo walls are D-level. Using NVIDIA GPUs does not equal NVIDIA investment, and going live on an exchange does not equal strategic investment.
On the token side, total supply is 10,000,000,000.0, circulating is 4,074,529,886.441529 (40.7%), FDV $6.93B, next unlock undisclosed (share of circulating undisclosed), burn buyback annualized rate no clear buyback burn. Must you buy coins to use the product? Yes, strong value capture (Gas/collateral/service access). Looking at it together with peers (unified caliber, no cross-sector random comparison): In terms of circulating market capitalization, Sui $2.82B, APT not disclosed, SEI not disclosed. In terms of FDV, Sui $6.93B, APT not disclosed, SEI not disclosed. Annualized revenue: Sui $807.7K, APT not disclosed, SEI not disclosed. Monthly active addresses or users: Sui not disclosed, APT not disclosed, SEI not disclosed. Figures are based on public data snapshots; some omissions are supplemented by official self-reports or industry standards. Valuation: circulating market cap $2.82B, FDV $6.93B, P/S 3495.2x, FDV divided by revenue 8578.2x. Pessimistic outlook: $2.82B at 50-70% of the original price, fluctuating in a neutral range; optimistic: revenue doubles, burns are implemented, enterprise clients are inflowing, FDV corresponds to P/S, aligned with the leaders. Overall: Solid fundamentals (score 68/100). Token value capture has been implemented (buyback/burn/gas). Circulating market cap is relatively high compared to fundamentals, expected overdraw, FDV moderate. Potential pitfalls: short-term large-scale unlocking and sell-off, long-term protocol revenue reversing to zero, token demand relying solely on incentives (once incentives end, usage collapses). Continue to watch: protocol fee weekliness, burn amount, active address retention, TVL/loan balances, GitHub version releases. The above judgments are based on publicly available data and do not constitute any investment advice. Conclusions should be revised if key indicators deviate significantly.
This concludes the research report. Welcome to share your views.
#基本面研报 #加密 #研究 #OKXOrbitU.S. stocks hit new highs, so why is Bitcoin still fluctuating? What exactly is happening in these two markets?
Recently, BTC has been fluctuating, while U.S. stocks, especially tech stocks, have been performing strongly.
Many investors don’t understand why, despite both benefiting from improved liquidity, U.S. stocks have risen but the crypto market hasn’t followed suit.
I’m Shaonv Nian, and regarding this divergence, I’ll say it directly: these two markets have now entered different stages.
Behind U.S. stocks, there is a large amount of mature capital involved.
Funds, institutions, and pensions can all allocate stocks through traditional channels.
Especially in the AI industry, which has now moved from the conceptual phase into the profit validation phase.
Companies like Nvidia and Microsoft continuously prove AI demand, making institutional capital more willing to keep investing.
But the crypto market is different.
Although Bitcoin ETFs have changed part of the capital structure, the overall market still relies more on risk appetite.
BTC’s rise requires capital confidence.
Altcoins’ rise requires market sentiment.
So when capital seeks certainty, U.S. stocks naturally attract more attention.
I believe it’s not that the crypto market has lost opportunities, but that market capital is being reordered.
First buy certainty, then look for elasticity.
This might be the biggest change in the current market. #伯克希尔结束净卖出, restart large-scale allocations
Berkshire has finally made its move! Ending 14 consecutive quarters of net selling, with nearly $20 billion in net purchases in Q2!
Google was reported to have bought $10 billion, directly dropping into its top five holdings. The company repurchased $4.5 billion in its own shares, marking the largest single-quarter buyback in five years. Cash reserves dropped from $397.4 billion to $365.5 billion, and the most conservative money began to flow out.
Abel's first major financial report after taking over sent a clear signal: from "patiently waiting" to "start buying."
For the crypto world, even the world's most conservative big investors dare to buy assets, so increased risk appetite is a good thing. Don't go all-in, but the direction is worth pondering.
The market's most stubborn bearish forces are breaking down, which is a strong boost for all risk asset bulls.I am Cige, and ETF funds have finally returned.
From August 3rd to 7th, the U.S. spot Bitcoin ETF saw a net inflow of $865 million, the highest level in nearly 15 weeks. BlackRock's IBIT alone accounted for $694 million, with institutions continuously buying around 65,000. The Ethereum ETF simultaneously recorded a net inflow of $244 million, marking five consecutive weeks of net inflows.
This data should be viewed in two contexts. In July, ETF funds experienced consecutive days of net outflows, market sentiment was weak, and BTC fell from above 66,000 to around 62,000. After the August non-farm payroll data turned negative, the probability of a rate hike dropped from over 50% to 44%, signaling a marginal shift to a dovish macro outlook, and ETF funds immediately switched from outflows to inflows. Funds are highly sensitive to interest rate expectations; as long as the rate hike probability declines, buying will return.
BlackRock alone bought $694 million, accounting for 80% of the total inflow that week. The main force is continuously buying around 65,000; this level is not a peak but a large capital accumulation. BlackRock is not here for short-term trading but for allocation. The return of ETF funds indicates that mainstream asset buying is recovering, but whether BTC and ETH can strengthen further depends on three conditions. Macro interest rate expectations must not reverse again, the probability of rate hikes must not surge back above 50%. Market risk appetite must be maintained, and the U.S. stock market must not experience a significant pullback. Spot trading volume must cooperate and not rise on shrinking volume.
Among these three conditions, the most critical is next week's CPI. If CPI is weak, easing expectations will rise, and BTC will directly break through 65,500 to 67,000. If CPI is strong, rate hike expectations will surge again, and BTC will retest 63,500 to 64,000. ETF funds will temporarily watch but will not #AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering "Say Things Without Saying Anything, Say Things Hard When Nothing Matters"
📍 [Data Snapshot]
Last week, US spot Bitcoin and Ethereum ETFs combined net inflows of $853 million, a multi-month high, with BlackRock IBIT contributing more than half. Institutional funds have been flowing in continuously for several weeks.
📉 [Price Feedback]
However, the market is almost "immune"—Bitcoin is limited to a narrow range of 62,000–65,000, while Ethereum is hovering between 1800–1900, with clear lack of upward momentum.
🔍 [Alternative Interpretation]
This phenomenon of "money delivered but not paid for much" is not new to the author: after multiple large-scale inflows in the past, it quickly shifted to net outflows, indicating that institutions currently only amusing themselves amid low liquidity and lacking retail investors following the trend. Secondary market support is weak, and most people are closely watching CPI and US Treasury yields, unwilling to bet early.
🧩 [Two-currency Character Differentiation]
· Bitcoin is more like a "stabilizer": institutions buy only to prevent a deep drop, not to drive the trend upward, so the downside is limited and the upside weak.
· Ethereum is a "high-volatility product": with strong liquidity and strong elasticity, once inflows slow down, the drawdown becomes even more severe; combined with the second-layer network ecosystem diversion, its independent market performance is further suppressed.
🚧 [Conditions for Breaking Through Bottlenecks]
Currently, incremental funds are only enough to support the bottom, not break the deadlock. To truly break through the key resistance zone, two forces need to work together:
· First, Ethereum inflows remain continuous;
· Second, macro data (inflation, interest rate expectations) provide clear signals.
⚠️ [Operation Tips]
In a volatile pattern, avoid impulsively adding positions due to large weekly inflows—positive news is often quickly absorbed. The reality is: institutions are buried in accumulating shares, retail investors stand by and watch, and the market is stuck in a stalemate where neither going up nor down is important. Patience is more important than courage.TUT今天直接把市场干懵了。
1小时爆仓3600万，空单被集体扫掉，几乎占全网一半。现货量5.7亿，合约量25亿，周末还能干出这种体量，本身就说明有人在玩。
价格先拉几倍，再快速砸回来。链上更直接——最近有大概20%的筹码从币安搬到Bitget，大户和做市商在倒手。合约开得太满，空头又堆得重，一抽就轧空。
周末流动性差，这种币一旦动起来，杀伤力被无限放大。供应又集中，前排说了算，价格根本不讲道理。
涨的时候看着爽，回落同样快。1小时就能把前一天的涨幅吞掉一半。
这种靠轧空和筹码搬运拉起来的东西，情绪一退，剩下的往往只是一地鸡毛。📉 While macro headwinds have yet to subside, BTC's "hedging narrative" has been reignited by current politics.
Here are three lines strung together this week (as of 8/9):
(1) Short-term pressure: The Fed kept rates unchanged at 3.5–3.75% in July (fifth consecutive time), cooling rate cut expectations combined with inflation concerns, with BTC at one point at $64,253; If leveraged bulls delay rising, there is a risk of a deleveraging stampede.
(2) Long-term Fuel: Trump personally shakes the Fed's independence. The more "politicized" monetary policy is, the harder the narrative of BTC "countering central bank easing."
(3) Capital and on-chain resonance: spot ETFs saw a net inflow of $244 million for three consecutive days (BlackRock alone took nearly $200 million); On-chain new wallets surged by $2.27 million in one week (a 10-month high), active wallets hit a 10-month record, and Santiment noted a significant increase in trading volume. Geopolitical tensions like the US-Iran deadlock, the new front in the Middle East, declining confidence in the US, and ASEAN converging on China continue to drive up demand for safe-haven assets.
Conclusion: In the short term, macro sentiment fluctuates; in the long term, trust depreciates. When central banks and geopolitical factors become unpredictable, BTC's scarcity and decentralization have instead become selling points. So-called "digital gold" has never been bought for gains, but for distrust of the system.[Pharaoh Market Watch]
Everyone is asking the pharaohs: ETFs surged in last week for $1.1 billion, so why is Bitcoin still hovering around 65,000?
Pharaoh bluntly said that money did come in, but this time it was different from before—not a trigger for a bull market, more like a safe haven. Bitcoin and Ethereum spot ETFs combined net inflows of $1.1 billion last week, marking their best weekly performance since April. But Bitcoin fluctuated below $65,000 all week, while Ethereum rebounded from 1800 to 1920, up less than 3%.
Where did the problem lie? Three things.
First, this money isn't a "full FOMO"—it's BlackRock alone holding the show. Of the 853 million Bitcoin inflows, BlackRock IBIT alone contributed 693 million, accounting for over 80%. The others are just small-scale moves. It's more like a tactical setup for specific institutional clients, rather than the entire market rushing in.
Second, selling pressure is also significant. At 65,000 yuan, a large amount of locked chips accumulate, and every time it approaches, someone sells. Strategy also sold large bitcoins from late July to early August to pay dividends. While buying ETFs, others are selling, so prices naturally don't rise.
Third, the macro environment has changed. The Fed's 9-to-3 bond ratio has led the market to debate "whether to raise rates again," rather than "when to cut rates." Funds coming in is more like using ETFs to hedge macro uncertainty rather than betting on a bull market.
Pharaoh's conclusion is straightforward: ETF inflows signal "buying is returning," not confirmation of a "bull market restart." A real breakout requires three conditions to meet simultaneously: sustained ETF inflows, cooling US Treasury yields, and the Fed confirming no rate hikes. The first two are happening, but the Fed itself is still arguing.
Bitcoin is now at 65,000 yuan. Is it a new equilibrium point or a succession for an upward trend? The answer isn't in the ETF data, but in the Fed's next move. Good deals are made by waiting, not chasing.
Follow Pharaoh and never lose your way to wealth! $BTC $ETH $BICO #现货ETF资金回流, can BTC and ETH take over? 💰 ETF FLOWS ARE BACK — BUT WHY IS $BTC STILL AT $65K?
Institutional crypto demand appears to be waking up again, and the latest ETF numbers deserve attention.
U.S. spot $BTC and $ETH ETFs reportedly attracted roughly $1.1B in combined net inflows over the past week, their strongest weekly performance since April. Bitcoin accounted for more than $800M, with inflows continuing across multiple sessions.
Yet $BTC hasn't responded with a major breakout. Price remains around the $65K area.
That divergence may actually be more important than a sudden pump.
When substantial capital enters spot ETFs while Bitcoin refuses to break sharply lower, it suggests that underlying demand is absorbing available supply. Instead of chasing price higher, institutional buyers may be building positions while the market remains uncertain.
The other piece of the puzzle is leverage.
A large amount of speculative positioning has already been flushed out, potentially leaving the market with a cleaner foundation. If ETF demand continues and macro conditions become more supportive, the next move could be driven by spot accumulation rather than excessive leverage.
Watch the rotation closely:
👑 $BTC — institutional liquidity anchor
🏛️ $ETH — potential beneficiary of renewed ETF demand
⚡ $SOL — high-beta confirmation
🟡 $BNB & $XRP — large-cap participation
🔗 $LINK — infrastructure strength
🤖 $TAO & $WLD — AI narratives
🚀 $SUI & $HYPE — risk appetite gauges
The key isn't one strong ETF day.
It's whether inflows persist while $BTC holds its ground.
If that combination continues, the market may be quietly building the foundation for a broader recovery.
$BTC $ETH $SOL $BNB $XRP $LINK $TAO $WLD $SUI $HYPE $BICO
#AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering The surging earnings failed to suppress the emergence of profit-taking; after the guidance was released, $SNDK came under pressure simultaneously on both crypto and US stock sides, with market sentiment quickly shifting from frenzy to defensiveness.
After the close, the stock price fell in sync with on-chain tokens, falling below the 1,000-200 mark. Earlier high-level profit-taking chips were concentrated and exited, reflecting that capital is extremely sensitive to the risk of slowing growth under high valuations.
The lower-than-expected guidance for next quarter has directly suppressed short-term capital risk appetite, but the company's simultaneous long-term contract orders worth hundreds of billions and stock buybacks worth tens of billions are retargeting the medium- to long-term chip structure.
Short-term selling pressure leads to position clearing and long-term capital locked up commitments, creating a direct game. Whether current prices can stabilize depends on the speed at which market risk aversion is transmitted back to long-term value.
If next week's Investor Day releases high-bandwidth flash technology roadmap and product details reshape institutional risk appetite, breaking through the current range will open a path for valuation restructuring; If downstream demand expectations are further revised downward, the rebound momentum will be lost.
If downstream AI server capital expenditure signals contraction, long positions may face further breakdown and trigger a volatile downward trend; If buyback funds accelerate entry to support the bottom, the logic of a breakout downward trend will be disproven.
The pricing gaps among long-term funds regarding the storage infrastructure cycle have already become apparent; only by ensuring the certainty of long-term supply contracts can the short-term guidance bring on position adjustment pains.
The most noteworthy variable to watch over the next seven days is next Thursday's investor day, where management will explain the latest technological roadmap and commercialization progress.
#黄金升破4300美元, are funds on hold on interest rate cuts or safe havens? #谷歌母公司发债250亿美元, AI investment pressure heats up#伯克希尔结束净卖出 restarting large-scale allocationsKeep your eyes on my left hand—if you think you've seen the square A that just flew out of your sleeve, congratulations, your principal has quietly fallen into the hidden compartment at the bottom of the stage.
In a real fraud magic scene, the audience can only see where the spotlight is deliberately illuminated. Look at this ledger thrown into the spotlight by the market players: July's nonfarm payrolls shrank by 23,000, far from the expected 80,000; Even more brilliant was that the data for May and June quietly erased 103,000 people. In my industry, this is called "cutting cards and smearing the marks"—using the shadows of the previous period to highlight the current chill, forcibly creating the illusion of accelerated cooling. But the ridiculous thing is, the official unemployment rate actually dropped to 4.1%? Don't be foolish—that's just because some viewers saw the flaw and voluntarily left the stage, leaving the market to stop participating. As the labor force participation rate dropped, the denominator shrank, and visual errors naturally occurred. The pigeon never vanished into thin air; I just pressed it into the item box using a double-layer hidden compartment.
The gamblers in the audience had already started placing anxious bets. In CME markets, the probability of a 25 basis point rate hike in September was pushed to 44%; while the audience on Kalshi's side bet on a 65% chance of holding their ground. The angle of the audience on both sides naturally reveals different illusions. But the real dealers don't care which side you bet on, because all these probabilities games are just colorful cigarettes released before next week's CPI magic begins. Sticky inflation is the real razor hidden in the magician's mouth; once next week's CPI is slightly warm, all existing rate pricing will be like a tablecloth instantly pulled away, leaving cups and plates in disarray.
The aftershocks of this macro illusion have long been smoothly transmitted through the $XQQQ of US stock token targets into the shadows. Retail investors are still amazed by the fake moves of non-farm payrolls, while the well-versed main funds have quietly reshuffled the market through the $XQQQ and crypto market linkages. As the illusion of tech heavyweights in US stocks swings violently with macro expectations, liquidity in the crypto market is being quietly withdrawn and reoriented.
The nonfarm payrolls are just a prelude; the real edge lies in whether next week's CPI will completely rewrite September's trump cards. While everyone is focused on predicting the cards, the dealers have already marked the cards on the back.🔥 The US Labor Market Just Gave Traders a Different Problem
Before NFP, the market was looking for something around 83K jobs.
Instead:
-23K.
That's not a small miss.
That's a completely different outcome.
The old “Goldilocks” scenario was:
Cool enough to help rate-cut expectations.
Strong enough to avoid recession fears.
But a negative payroll print makes the second part harder to ignore.
For $BTC and $ETH, that creates two competing forces:
🟢 More room for monetary easing
🔴 More concern about economic weakness
Which one wins?
Watch the bond market.
If yields fall without a major risk-off move in equities, crypto could benefit.
If recession fears dominate across markets, crypto may not get the usual “bad data = good news” reaction.
#BTC #ETH #NFP #MacroTrading $BTC $ETH #AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering How risk appetite is transmitted
A complete risk market usually has a clear transmission path.
Funds first return to Bitcoin to confirm the market base; then flow to Ethereum to seek greater resilience. If the second step does not happen for a long time, it indicates the market remains cautious, and the sustainability of the altcoins is questionable.
$BTC $ETH 🇺🇸 Washington's next crypto hurdle has a date on the calendar.
The Senate just filed the motion to advance the CLARITY Act — the market-structure bill that would finally split digital asset oversight between the SEC and CFTC. A procedural vote is now locked in for September 15.
BTC: $64,800
♦️ ETH: $1,917
Here's the part getting glossed over: this is a first hurdle, not a finish line. The bill already cleared the House by a wide bipartisan margin last year and made it through Senate Banking Committee — but negotiators are still hammering out disputes over illicit-finance rules, stablecoin provisions, and ethics language before it can actually pass. Prediction markets have been pricing the odds down, not up, sliding from roughly 30% to the mid-teens after this summer's delay.
→ Expect positioning chatter to build into mid-September
→ Volatility likely picks up around the procedural vote itself
→ A real breakthrough would support the bullish case — but the path there is still narrow
The real question isn't just how much optimism is priced in. It's whether this vote even clears its first procedural hurdle before the substance gets negotiated at all.
Watching closely, not celebrating early.
$BTC $ETH #AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering When ETF funds flow back, should we be wary of "liquidity illusions" or embrace "institutional dividends"?
Recently, the inflow data from US spot Bitcoin ETFs and Ethereum ETFs has become the hottest topic in the crypto world. With $865 million in weekly net inflows, BlackRock IBIT "taking the lead," and Ethereum ETFs "jogging in small steps" for five consecutive weeks, these numbers have been like a shot in the arm, making many people fantasize about the start of a "new bull market." But as a seasoned veteran who has been struggling in the market for years, I want to pour cold water: don't be fooled by the "surface" of capital inflows—the real game is just beginning.
1. Capital Flows Back ≠ Price Increases: Beware of the "Liquidity Illusion"
Many people get excited when they see ETF funds flowing in, but overlook a key question: where exactly is this money flowing?
Of the $865 million net inflow into Bitcoin ETFs, BlackRock IBIT contributed $694 million—what does this mean? It means most of the funds are "passively allocated." Institutional investors buy ETFs not to "speculate on coins," but to "hold compliant positions." They may treat BTC as "digital gold" on their balance sheets, rather than to pump the market. This "sedimentation effect" of funds leads to an outcome: the volume of ETF purchases ≠ the incremental amount actually circulating in the market.
Even more dangerous is the "liquidity illusion." When the market sees ETF inflows, retail investors follow suit and buy in, pushing prices higher; But once ETF inflows slow down (such as the Fed raising rates or US stock market pullbacks), these "passive funds" can instantly turn into "selling pressure." When the Bitcoin ETF was approved in January 2024, the market celebrated, but the subsequent three months of sideways trading were due to "expected overdraw" + "insufficient actual liquidity."
2. BTC vs ETH: Who Has More "Breakthrough Potential"? Look at "Narrative Logic" Not "Capital Scale"
If funds keep flowing in, who will break through first, BTC or ETH? My answer is: in the short term, look at BTC; in the long term, look at ETH. But the core isn't 'who rises fast,' but 'whose narrative is more solid.'
BTC's "digital gold" narrative continues to reinforce: institutions like BlackRock are essentially treating BTC as an "inflation hedge" and "safe-haven tool." As long as global central banks continue to inject liquidity and geopolitical risks intensify, BTC's "store-of-value attribute" will keep attracting capital. But its drawback is the "lack of application scenarios," with prices relying more on "consensus" than on "practical value."
ETH's "ecosystem value" is being repriced: although the scale of Ethereum ETF inflows is small, the significance is different. ETH is not just a "cryptocurrency" but also "infrastructure for decentralized applications." With Layer2 scaling, DeFi innovation, and NFT practicality, ETH's "network effects" are strengthening. For example, recently Arbitrum and Optimism have hit new highs in TVL (Total Value Locked), indicating developers are still voting with their feet.
The key difference is: BTC's rise requires "macro benefits" (such as dollar depreciation or stock market crashes), while ETH's rise can rely on "ecosystem progress" (like lower gas fees and explosive new applications). If there is a "technical breakthrough" in the next six months (such as ETH's successful Dencun upgrade), it may experience a "value revaluation" earlier than BTC.
3. My Allocation Strategy: Not Chasing Hot Topics, Only Betting on 'Certainty'
Faced with ETF funds recovering, I won't blindly increase my holdings in BTC or ETH, but will stick to the 'three-three system' principle:
30% allocated to BTC: as a "ballast stone" to hedge macro risks. But it does not chase highs, only investing when pullbacks reach key support levels (such as below $60,000).
30% allocated to ETH: betting on "ecosystem explosion." Focus on Layer2 projects and DeFi leaders, such as UNI and AAVE, whose valuations are directly related to ETH network activity.
40% cash awaits a "black swan": the market always has surprises. For example, the Fed suddenly turning hawkish, an exchange crashes, or regulatory policies suddenly shifting...... At this point, cash is like a "bullet."
Why not wait for a "clearer market"? Because a "clear market" often means "buying at the top." The real opportunity is hidden in "divergence"—when everyone is shouting "The bull market is coming," that is precisely when the risk is highest; When the market is still hesitating about "whether ETF funds can continue," it is actually a good time to position your position.
#现货ETF资金回流, can BTC and ETH take over? In the past, after BTC surged, the old market makers would make money and buy ETH, then move to large-cap alts, then to memes, layer by layer
This transmission process takes time, so the bull market appears continuous, and altcoins will rotate to rise.
But this transmission chain was cut off by ETFs, and the money BlackRock has in its account will never go to buy knockoffs.
Knockoffs without ETFs can only be distributed using money from the market
To get a share of liquidity, you have to rely on storytelling to compete
So don't buy an altcoin just because it rose well or fell cheaply in the last bull market
No one is interested in old stories anymore
When Solana dropped to 8% in 2022, memes and airdrops only started in 2023, and the cheapest time was actually when new narratives were hard to find
But Bitcoin has it every round
Next are ETH, SOL, BNB$, and BTC $ETH $bnb 🇷🇺 Russia Is Bringing Crypto Into a Regulatory Framework — Why $BTC & $ETH Should Care
September could mark another important step in the global institutionalization of crypto.
From September 1, key provisions of Russia's new crypto framework are expected to take effect, moving the country toward a more structured approach.
The important shift isn't simply that Russia is regulating crypto.
It's how it is approaching it.
🏦 Regulated infrastructure
Authorized exchanges, brokers and custodial services are expected to operate within a supervised framework, with the Bank of Russia playing a central role.
👥 Different levels of investor access
Retail participation is being structured through authorized channels, while qualified investors are expected to receive broader access to digital assets.
Crypto could retain a role in selected international settlement activity, potentially creating another avenue for digital assets to interact with global commerce.
🚫 But crypto isn't becoming everyday Russian money
Domestic payments remain restricted, highlighting the distinction between recognizing digital assets as financial instruments and making them a general currency.
Why does this matter for the wider crypto market?
Because regulation is increasingly becoming the bridge between crypto and traditional finance.
The global trend is shifting from:
“Should crypto exist?” toward: “How should crypto be integrated safely?”
For $BTC and $ETH, that transition could matter more over the long term than any single day's price movement.
Clearer rules can reduce uncertainty for institutions, improve infrastructure, encourage compliant products and potentially unlock new pools of capital.
Russia alone won't determine the next crypto cycle.
But when multiple major economies begin building formal frameworks instead of simply banning the asset class, the significance becomes harder to ignore.
Regulation doesn't guarantee a bull market.
It creates the conditions under which larger capital can participate.
$BTC $ETH #Bitcoin
#Ethereum11Years
#CryptoRegulationBlackRock put $31.1 billion in European cash funds on Ethereum.
DTCC—the one responsible for clearing almost all U.S. stock trading—is piloting tokenized securities trading. More than 50 institutions are participating. Including BlackRock, Goldman Sachs, and JPMorgan. It may officially launch in October.
When you look at these two things together, you'll understand that 'on-chain finance' is no longer just a concept.
But here's a counterintuitive statistic: among all tokenized assets over $100,000, 56% had zero on-chain activity within a week. In other words, more than half of the tokenized assets lay motionless on the chain.
What does this indicate? Traditional finance's attitude toward on-chain technology is "put it on first, then talk." True everyday use is far from here.
But the direction is irreversible. When the $31.1 billion fund begins settling with Ethereum, it is paving the way for large-scale future use.
Like in 2010, you built a website with only 10 visitors per day. But the direction of the internet was already set.
Don't mock "nobody uses it now." Look at "who is using it."#伯克希尔结束净卖出，重启大额配置
Berkshire Hathaway's net stock purchases in Q2 reached nearly $19.8 billion, ending 14 consecutive quarters of net selling. They made a large-scale increase in Alphabet shares while also repurchasing $4.527 billion of their own stock; cash reserves decreased from $397.4 billion to $365.5 billion.
Market interpretation: The veteran long-term capital is starting to act, signaling a shift in attitude toward equity asset valuations. The expected increase in risk appetite indirectly benefits the crypto market.
Note: They still hold massive cash reserves; this round is selective positioning, not an all-in move.
Reminder: Do not rely solely on this news to be bullish; consider it alongside non-farm payrolls, CPI, and liquidity indicators for a comprehensive judgment; strictly control position sizes and avoid leverage.
This article is only a personal review record and does not constitute investment advice. Cryptocurrency is highly volatile; please make independent decisions and participate cautiously.#AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering Editor | Wu Shuo Blockchain TL; DR： · Overall cooling of financing: In Q1 2026, crypto VC fundraising volume dropped by about 50% quarter-on-quarter, with funds further concentrating on mature projects with existing clients, revenue, and transaction scale. Stablecoin payments received investment against the trend: projects such as Rain, OpenFX, RedotPay, Mesh, and Conduit have successively secured large financings, covering bank cards, cross-border payments, foreign exchange liquidity, wallets, bank access, and clearing. VCs are betting on infrastructure: stablecoins can provide 24/7 cross-border settlement, and related companies can earn income through fees, foreign exchange spreads, bank cards, and API services, forming a relatively clear fee model. Attention should still be viewed cautiously: on-chain stablecoin transaction volume does not equal real payment volume, and financing is mainly concentrated in a few leading projects; Compliance, fiat currency deposits and withdrawals, local bank relations, and homogeneous competition remain major challenges. · Future opportunities: Funds may continue to flow into cross-border B2B payments, stablecoin bank cards, bank-to-stablecoin connections, multi-chain payment orchestration, and AI Agent payments. In the first quarter of 2026, venture financing in the crypto industry cooled significantly. Galaxy Research data shows that crypto VCs invested $4 billion in about 355 deals, with funding amounts down about 50% quarter-on-quarter and deal counts down 16%. At the same time, a newly establishedAfter the market closed on August 5th, SanDisk released its Q4 earnings report.
Revenue was 8.965 billion yuan, a year-on-year surge of 372% and a quarter-on-quarter increase of 51%, far exceeding the market expectation of 8.394 billion yuan.
Adjusted EPS was $39.25, compared to the market expectation of only $34.37.
Gross margin reached 84.6%, 58 percentage points higher than the same period last year.
The data center business grew 1298%, nearly 13 times in one year.
Then the stock price fell. It opened down over 12%, closed down 6.81% to 1258. After hours, it dropped another 7%.
The only reason the earnings report is so blown and still falling is simple—the guidance isn't strong enough. Next quarter's revenue guidance is 10.3 to 10.8 billion, with a median of 10.55 billion, and the market expectation is 11.16 billion. EPS guidance is 44 to 46, market expectation is 45.58. Gross margin guidance is 83% to 85%, basically flat with Q4's 84.6%, showing no signs of further expansion.
The current market logic is simple—the past was good, but the future isn't good enough. A stock that has risen nearly fivefold in a year—the market wants not just "still growing," but "still accelerating." SanDisk offered "growth but slowing down," and then it got smashed. But revenue tripled, gross margin rose 84%, and data centers rose thirteenfold—in any normal market, such a financial report would be legendary. The current drop is because expectations have been pushed to the ceiling. SNDK's underlying stock fell from 2354 to 1215, a 48% decline. Revenue quadrupled, stock price halved, and PE contracted $SNDK In Q4, five new NBM agreements were signed, bringing the total to eight, covering eight clients, with a minimum contract revenue of $93.9 billion, including $16.5 billion in financial guarantees.
The weighted average term exceeds 4 years.
More than half of the supply for fiscal year 2027 has already been locked, and about two-thirds for fiscal year 2028.
SanDisk is shifting from a NAND cycle stock to an infrastructure company with long-term revenue visibility. Previously, it negotiated prices quarterly, but now holds orders for more than four years.
SanDisk also approved $14 billion in buybacks, bringing the total remaining licensing to $15.5 billion. At current prices, it could buy back more than 10% of the company's outstanding shares. A company with tripled revenue and an 84% gross margin and still have to pay another $14 billion to buy its own shares shows management believes the current price is undervalued.
SNDK is a tokenized stock trading on Solana 24×7 hours, with a 1:1 anchor to the underlying stock. As the underlying stock falls, the token follows suit. Despite the weekend US market close, SNDK is still trading. On Friday, Bitcoin was still hovering around 64,000, the storage sector broadly declined, with SanDisk down over 4%. SNDK is currently in the 1,200-1,300 range, with a weak short-term trend and bears still dominating the pace. But Morgan Stanley reiterated its overweight rating and target price of 1,750. Jefferies cut from 3,000 to 1,750, Evercore from 3,100 to 2,800, both maintaining a buy position. The long-term narrative remains unchanged, but short-term market sentiment has shifted to "AI expectations are sufficient, now we'll see AI monetization." $SNDK Bulls are reducing positions, shorts are increasing, and funding rates are turning negative.
On August 3rd, whale trader Loracle opened a short position on SNDK worth over $8 million.
On August 4th, an address placed a 2.5 million buy order on 1187 and a 5.43 million sell order on 1397.
Both bulls and bears are positioning.
On Polymarket, a trader bet "earnings exceeded expectations" at a price of 94 cents before the earnings report, and simultaneously opened 122.5 long SNDK positions on Hyperliquid at an average price of 1428.7, with 10x leverage, and a liquidation price of 1079.6.
The earnings report indeed exceeded expectations; the underlying stock fell first after hours, then SNDK also crashed. What happened to that 10x leveraged long position? There was a floating gain, but it couldn't withstand the decline after the report. Now the price is between 1200-1300, below his average position construction price. This guy traded four rounds on SNDK in 30 days, winning three and losing one, earning a total of 26,600 dollars. But this time, even with 10x leverage, even if the direction was right, it couldn't withstand the sharp market sentiment swings. The earnings report exceeded expectations, and the stock price fell—there is a layer of market sentiment between fundamental analysis and short-term price trends.
SNDK is in the 1200-1300 range, nearly half cheaper than the historical high of 2354. Long-term contracts locked in 93.9 billion in revenue, 14 billion in buybacks as a bottom, and AI storage demand is still running. But in the short term, the market is weak, the sector is collectively under pressure, and bears are still dominating. In the short term, look for signs of stabilization around 1200. For the medium to long term, the logic of storage cycles hasn't changed, but we need to wait for sentiment to be digested. Don't chase at this level; wait for stabilization before watching $SNDK Is the bottom approaching? BTC has overtaken USDT, reclaiming the top spot in exchange reserves, and the mindset of capital has quietly shifted
Many people in the circle are still holding onto U tokens and waiting, unaware that big money has already quietly started trading chips.
Starting in May, USDT has long dominated the top spot in total reserves on exchanges. For three whole months, on-exchange funds preferred to hold stablecoins for safe havens, and no one dared to lightly hold heavy positions in mainstream coins. Once the latest statistics were released, the situation immediately reversed.
Across all platforms, BTC exchange reserves totaled $59 billion, accounting for 30.3%; USDT reserves totaled $55.3 billion, accounting for 28.4%. Bitcoin officially overtook stablecoins to claim the top spot.
Rankings may seem like just a numerical change, but in reality, they reveal the true intentions of funds in the market. During the bottom and volatility phase of a bear market, everyone's trading logic is to first swap for U, hold cash, and wait for a big drop to buy chips, so stablecoin reserves keep piling up. Now, a large amount of funds are actively exchanging stablecoins for BTC and holding them on exchanges. Simply put, people don't want to waste cash and wait for a crash, so they start actively hoarding core assets, unable to hide their bullish intentions for the future.
Looking at the reserve structures of major exchanges separately, player stratification is clear at a glance.
MEXC and KuCoin accounted for 70.8% and 60.1% of stablecoins, respectively. These two platforms have many retail investors and short-term counterfeit traders. People tend to stock up on U and wait for opportunities, rushing in small coins when they see an opportunity, then cashing in to get stablecoins back after trading.
Mainly Bybit and Bitget derivatives players, with less than half of stablecoin reserves. Half of the funds are reserved for contract margin, and half allocated to Bitcoin and Ethereum for swing trading, balancing offense and defense;
Binance's scale dominates the market, with stablecoins on the platform alone amounting to $46 billion, making it the largest capital reservoir in the entire crypto world. Once the market kicks in, idle funds here become the most powerful ammunition for market rallying.
Connecting several recent major events makes the signal very clear. Berkshire has held the line for 14 quarters, no longer holding onto cash but turning to buy equity assets; Ethereum ETFs have seen net inflows for five consecutive weeks, with institutions buying in batches for the long term; Now, BTC reserves on exchanges have surpassed USDT. With these three factors combined, global long-term funds have shifted from comprehensive risk avoidance to buying on dips and allocating core risk assets.
However, we cannot be blindly optimistic. This wave of funds entering the market is just a gradual dip buying and ambush, not a full-scale bull market. This week's CPI data is the key. Before rate cut expectations are fully realized, big funds will not rashly launch a trend. At this stage, they will only gradually accumulate chips and grind the market to wash retail investors' patience.
A word for ordinary traders: stop clinging to stablecoins and earning meager interest. Rate cuts are approaching, and holding stablecoins long-term will only keep depreciating. Following institutional trends and gradually allocating BTC and ETH is far more cost-effective than just holding onto U and watching from the sidelines.Why is the US stock market soaring so much while the crypto market hasn't kept up? Where exactly has the money gone?
Recently, many people have had this question.
The US stock market, especially in the AI sector, continues to strengthen.
But the crypto market hasn't seen the big rally everyone expected.
I'm Shaonv Nian. Regarding this issue, I'll be straightforward: I think the biggest misconception many people have is believing that all risk assets will rise simultaneously.
In fact, the two markets are trading on completely different logics right now.
The core reason for the US stock market's rise is earnings realization.
Take Nvidia as an example.
The market buys it not just because of the three letters AI.
But because it has real revenue.
Quarterly revenue of $68.1 billion, data center revenue of $62.3 billion.
Institutions can see orders and profits.
But the crypto market is different.
BTC has no financial reports.
ETH also has no quarterly profits.
The market trades more on future expectations.
Including interest rate cuts.
Capital inflows.
Regulatory changes.
So what we see now is:
US stock market money buys certainty.
Crypto market money waits for catalysts.
It's not that the crypto market has no opportunities.
But capital is choosing to be more cautious.
For the crypto market to explode again in the future,
it needs new capital inflows and stronger market consensus.Long STONKBROKER, leave the StonkBrokers NFT alone. At $0.03247, the fixed 666,666-token leg was worth $21,646.65, basically the whole reported $22k floor. The wrapper adds 10%-15% ETH fees and activation resets for the same token risk. If the August 11 launcher misses, seven-day fees fail to clear $399,918, liquidity slips below ~$6.42m or price closes below $0.02469, bin the trade.#AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering 📉 Three Months That Could Decide Bitcoin’s Next Cycle The delay of the CLARITY Act into September gives the crypto market another stretch of uncertainty. And perhaps that's not necessarily a bad thing. Without an immediate regulatory catalyst, $BTC may continue consolidating while investors wait for clearer signals from macro data, liquidity and institutional flows. But there is another possibility worth considering. What if September through November becomes the final cleanup phase of this cycThe Fed’s September 2026 meeting isn’t just another policy check-in. Markets have sharply repriced: 📉 September rate hike odds plunged from 58% to just 36%, per CME FedWatch data (source: cryptorover, Aug 8). 📈 Polymarket now prices a 63% chance of a pause, up from under 40% two weeks ago. That dovish pivot? It’s not just about inflation cooling, it’s driven by the shockingly weak July NFP report (-23K jobs) and softening CPI signals (China’s inflation down to 0.5%). So why hasn’t BTC rallied In January 2025, Bitcoin broke through 109588, marking the end of the phase bull market and falling until bottoming out in April
During the same period, Ethereum fell from 4100 to a staggering 1385
From the current perspective, you should clear your positions promptly before January
But in real conditions, selling is a very difficult event—harder than bottom-fishing in a bear market.
Let's look at what happened at that time
Institutions unanimously expect $200,000: Bernstein, Standard Chartered, ARK, and Deutsche Bank have released reports almost simultaneously, setting a target price of $200,000 for Bitcoin in 2025, citing triple drivers such as pension fund entry, deepening institutional allocation, and favorable policies
Trump's policies have only just begun: the market generally believes that taking office is just the beginning, with a series of policy dividends such as the stablecoin bill, the introduction of 401k pension funds, and the Bitcoin strategic reserve, making the narrative far from being realized.
ETF funds continue to flow in: for the entire month of January, spot ETFs saw a net inflow of $5.3 billion, while BlackRock alone saw $3.2 billion in inflows, indicating a steady stream of institutional buying
The four-year cycle model says the top is still early. : The halving is in April 2024. According to historical patterns, the top is 12–18 months after the halving, that is, from mid to the end of 2025, with January only being the ninth month. According to this model, at that time it was not just a top but was halfway up the mountain
These views weren't made up afterward; they were publicly available information you could see every day at the time. When you're in the midst of them, you naturally feel the bull market is still early, and now it's only halfway up, making it hard to actively think the market is ending.
This is the first hurdle: the whole world is full of good news, and there's no reason to sell
More importantly, the mainstream interpretation of the January decline at the time was "reversing the car to catch the driver" and deleveraging to lighten the car and pave the way for a rise
Because every bull market main upward wave experiences two or three rounds of sideways consolidation, and each consolidation is considered bearish; in reality, this is just a temporary adjustment
But after many times, it creates a wolf effect. When a real bear market declines, people think it's a correction, which creates a kind of mindset.
This is the second hurdle: ignoring risk, all declines are an ingrained belief in shakeouts
We all know that the bear market decline before April 2025 was due to Trump's tariff policies
However, at the beginning of 2025, almost no one regarded tariffs as a core variable accelerating the bear market
It wasn't until February 2025, when the market saw its first large-scale crash and crashed, that the market truly began to take it seriously; By April, when global reciprocal tariffs were fully implemented, Bitcoin bottomed out, and during the same period, altcoins fell for a full four months, even dropping as much as 80%.
This is the third hurdle. You can't know the real bad news in a bear market, but it will definitely appear
Therefore, relying on so-called news and analysis to cash out in a bull market is extremely difficult
When it's time to sell, the whole world is good news; by the time bad news comes, the bear market is already halfway over. Selling then will be even harder, since everyone hates loss
So don't spend too much energy on external factors like narrative and news aspects
What's truly useful is paying attention to the chip structure, which brings us back to our old viewpoint
The fundamental reason for the end of a bull market is the drying up of buying demand,
The fundamental factor behind the sluggish buying is "price consensus"
In 2025, Ethereum consolidated sideways at 3800. When it broke below the consolidation, most started to panic, but then recovered the next day and never looked back, breaking through 4700.
The critical moment came. After the 3800 wave ended, good news kept coming, especially Tome Lee repeatedly saying Ethereum would break 10,000 by year-end. Everyone knew he was boasting; most people thought 6000-8000 was a reasonable target, and then an anchor point was formed: Ethereum was aiming for 6000, and news kept spreading this price
More and more people believe and buy, but as a result, buying runs dry, and the bull market ends
So, when a price consensus is reached, it's time to start reducing positions—selling more as prices rise, selling regularly, just like regular investing, just selling off
Because you have a position, you are part of this market, and your ideas can represent the public's perspective. So you will have the same price anchor as the masses, but our actions will become selling, rather than continuing to believe like the masses
So I have summarized several more detailed points below
1. Everyone firmly believes the bull market is coming
2. Volkswagen began to agree on a higher price anchor
3. No longer fearing a downturn; thinking it is just a pullback to clear leverage
When these signals appear, don't worry about any positive news. Sell firmly, don't be afraid to sell early. Selling early still keeps your rationality. What's truly scary is the top. Selling feels like betrayal, as if you were wrong, and you might even buy back uncontrollably, causing even greater losses
I believe in these words more: selling a flight makes a profit, fleeing from the top is a disaster
Now that the bear market is in August, a bull market is bound to come. The purpose of writing this article is to prepare for the next bull market
We hope to stay clear-headed at the end of the bull market and secure profits in time
In cryptocurrency, compound interest comes from realizing the money, not necessarily long-term holding$BICO BICO short squeeze continues, pulling back after surging to 0.09
BICO continues its short squeeze rally, surging to $0.09 today before retreating to 0.077, still up 22% in 24 hours.
The core driver of this surge remains Binance contract squeeze, not fundamental changes. A week ago, BICO was at a historic low of 0.011, then violently surged above 0.09 in just a few days, with a cumulative increase of over 700%, a classic "short squeeze".
After Binance perpetual contracts launched, speculative funds poured in, funding rates stayed negative, forcing shorts to cover and further pushing prices up. The market spun stories about AI Agent+ account abstraction narratives, but no actual new protocol updates occurred.
There was a clear pullback near 0.09, signaling short-term overheating. Watch for profit-taking and whether volume can sustain. #AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering [Crypto Scenario]
#标普收盘再创新高, the 8,000-point level is expected to heat up
I'm Script Bro. The S&P 500 keeps hitting new highs. The night before last, during Script Brother's livestream, US stocks opened higher and closed well at 4 a.m., with the S&P 500 also hitting a new closing high. Currently, the market is restarting to trade expectations of rate cuts and logic of liquidity improvement. On the other hand, US spot BTC and ETH ETF funds continue to flow back, indicating institutional funds are not leaving but waiting for better positioning opportunities.
Many people ask, with US stocks so strong, why is BTC still stuck around 65,000? Script Brother thinks this is the most interesting part of the market right now: funds have started to return, but the market still needs a breakout catalyst.
The data released during Script Brother's live stream the night before last is a mild positive for the crypto world. It hasn't shown a rapid deterioration in the job market, nor is it strong enough to make the Fed turn hawkish again, so the market continues to trade expectations for future rate cuts. But don't expect the market to surge immediately after the news comes out, and funds need to reprice future policy directions. BTC is currently hovering around 65,000 for two days, which is actually the market's process of digesting the news.
Yesterday, Script Brother did a long position on the big cake, also trading around the consolidation structure around 65,000. I added positions around 64,800 before, reduced when the price reached around 65,200, and when the remaining momentum rebounded, everyone left. How the market moves later isn't important; what matters is that every trade must be well controlled and not let a single order disrupt the overall rhythm.
At the same time, you can see that after the non-farm payroll announcement, SanDisk's SNDK also taught everyone how to conduct themselves. At 9:30 a.m., the US stock market opened with a sharp 10% plunge, dropping over 100 points. Many funds initially thought the logic was sound, but once expectations were realized and profit-taking emerged, volatility would still be very high. Fortunately, this round of script bro focused mainly on BTC and did not blindly chase high-volatility stocks like SanDisk.
Looking at ETF capital inflows, this signal remains important for the medium to long term for BTC and ETH. Institutional capital inflows back indicate that market demand for crypto asset allocation still exists. But in the short term, capital returning does not mean an immediate rally; BTC still needs to break through the 65,000-66,000 resistance range. If a breakout with increased volume follows, the market may continue to test 67,000 or even higher; If the breakout fails, attention should remain on support near 64,000.
Script Bro believes that BTC trading sideways around 65,000 is actually testing market confidence and giving funds time to redeploy. Lately, weekends have been like this: if there's no volatility, go out for a walk. If there is volatility tomorrow, Script Bro will continue streaming and will guide everyone through a few more waves.
Do you think BTC's sideways movement near 65,000 this time is a buildup before an upward move, or a correction after a rebound? Can continuous ETF inflows signal the start of the next rally? Share your thoughts in the comments section $BTC $ETH $BICO $KAITO Closed my short. Not waiting for 0.555 anymore. Funding is -1% daily, and since I expect a slow bleed rather than a nuke, funding will eat ~15% of my gains before we hit the target. Not worth it. Holding till 0.555 is fine if you don't mind the fees, but I'm taking profit now. $BICO Those who didn't participate before but are now trying to short now have a new high of 0.08998, so consider it as 0.09. If you want to take a short position, first, it's best to open a full position. Don't ask why—try to invest only 1% of your total principal, with leverage limited to 2, 3, 5. The minimum initial position level must be set at 0.995, because if you dare to place a 0.9x short position at 10x during the next explosion, the price must at least break above 0.99. If you blow up them, their positions instantly become long buys, and the price keeps soaring. There's a chance of a blowout and a 5x short at 0.09, meaning it breaks 0.108 again. This batch will blow up again, turning into buy orders, and it's likely to continue rising to 0.125~0.13. This concept will probably happen tomorrow or early morning. As long as there are more 'fake air force' who are as dumb as pigs and as greedy as snakes, the more the short positions get more and more like rockets. Those who blow up are the ones who turn into buying and pushing the market. Thank you allIf you were a major derivatives trader recently selling in the options market, living off Bitcoin's 23% implied volatility at a slight premium, what would you fear most right now?
The answer is definitely not a slow, bearish price drop, nor a dull narrow range. What you fear most is any small macro news or large on-chain movement breaking the current calm. Because in the current derivatives structure, upside implied volatility has dropped to a historic low of 23%. This means traders across the market have completely lost confidence in a sharp rebound, and almost no one is willing to pay extra premium for call options. All the money is shorting volatility, and everyone feels the market will keep grinding down like this. This consistent arrogance is precisely the perfect fuse for the next volcanic eruption.
I once paid a hefty tuition fee for shorting volatility. A few years ago, Bitcoin entered a half-year-long sideways trading period, during which implied volatility kept falling. Looking at the steady time value of options collected on the book every day, I realized trading was actually that simple, so I kept increasing my leverage and selling large amounts of wide strangle arbitrage options. Then, one night, a sudden geopolitical negative shock struck. Within half an hour, Bitcoin inserted more than 15%, and implied volatility instantly surged from less than 30% to over 80%. That night, my account suffered a catastrophic gamma crash. The small profits I usually collected were instantly swallowed up, and I was even forced to close my position because I couldn't replenish my margin in time. That liquidation taught me a lesson: low volatility in the options market is not a signal of safety, but rather the market continuously piling dry matches.
Returning to the current market structure, the current weekly ATM implied volatility is around 26.07%, and the near-end ATM volatility is only about 28.70%. Options sellers across the entire market are greedily pocketing this last bit of premium. In the Delta and Gamma mathematical formulas, when implied volatility is suppressed to a very low level, the sensitivity of option prices to the underlying asset's price movements (i.e., the Gamma value) rises exponentially. This shows that once Bitcoin's price slightly deviates from the current volatility range, large option sellers must passively close positions in the same direction in both the spot and futures markets to hedge position risk.
This passive hedging behavior is the well-known Gamma squeeze in financial markets. If the price breaks up, sellers must buy spot hedging to push prices higher and force more sellers to buy; If the price breaks down, sellers must frantically sell spot to prevent a blowout. This self-reinforcing liquidity stamping often amplifies a small fluctuation into a one-sided explosive trend.
This is exactly the terrifying aspect of low-volatility markets. The current 23% historical low is definitely not evidence that the market has "died" or "lost its appeal"; it is the enormous energy the options market has accumulated under extreme pressure. The dry wood is already stacked, the air is extremely dry, and every major derivatives player in the market is licking honey on the edge, betting that the match will never be lit.
And the historical pattern is that matches are not only lit but often thrown into the powder keg in the most violent way at the most unexpected and ordinary moments.
This time, when will the matches be struck, and who will be the one to strike?
#现货ETF资金回流, can BTC and ETH take over? $BICO funding rates are highly divided: Binance and Bybit are about +0.01%, OKX is about -0.4173%. Therefore, it's not a market-wide short selling, but rather concentrated short positions on some exchanges; There may still be a second short squeeze, but it could also become a source of cross-exchange arbitrage and reverse sell-offs.LINK$LINK Why is it being watched by institutions? Does it really have long-term value?
Many retail investors don't pay much attention to LINK.
But I am Shaonv Nian. Regarding LINK, I'll say directly: it belongs to the type of project that doesn't easily surge in a single day but has a relatively clear logic.
Chainlink solves a very simple problem.
Blockchains need external data.
Financial assets going on-chain require data connections.
All of these need infrastructure.
With RWA and traditional finance entering blockchain,
the importance of oracles may increase.
But I won't be bullish just because the logic is good.
In the end, the market looks at capital.
There are many good projects.
The ones that truly rise are those projects that capital is willing to reprice.
For LINK, the focus going forward is on ecosystem development and market attention. #AIMemorySelloffEases #BTCETHETFInflowsReturn #SpaceXShortCovering $ETH
After trading ETH for a while, my biggest insight is: making money isn't about prediction, but about discipline.
Many people enter the market hoping to seize every upward opportunity, chasing long when ETH rises, panicking and cutting losses when it falls, and often being repeatedly harvested by the market. In fact, the market fluctuates daily, but opportunities that truly belong to you are rare.
Compared to BTC, ETH is more volatile, offering more opportunities but also higher risks. It is influenced not only by the Ethereum ecosystem, ETF funds, and on-chain data, but also by Federal Reserve policies, US Treasury yields, and US dollar liquidity. Therefore, when trading ETH, you shouldn't just focus on candlestick movements; you must also understand the underlying capital logic.
Experienced traders focus on three things:
First, observe the trend. Trading with the trend is always easier to make money than gambling against the trend. Wait for pullbacks during an uptrend, and control positions to wait for opportunities during a downtrend.
Second, control risk. Many losses are not due to poor judgment, but from excessive positions. Without reasonable positioning, even the best strategies can be easily damaged by a single fluctuation.
Third, manage emotions. The biggest enemy in trading is not the market, but your own greed and fear. Rushing to recover losses after losses or blindly increasing positions after profits are both the beginnings of failure.
The ETH market will never lack opportunities; what it lacks is patience and execution. Those who are truly profitable do not always look in the right direction, but cut losses when they are wrong and dare to hold when they are right.
The essence of trading is not to make quick money, but to maintain an advantage in long-term strategic play.I've watched OKB for years. It was always that token you held for fee discounts. Boring. Useful. Then it just sat there at $80.
But that $80 -> $85 -> $90 -> $94+ move isn't a normal breakout. Check what actually changed under the hood.
On Aug 13, OKX burned 65,256,712 OKB in one shot. Not a quarterly buyback. A one-time treasury kill. Supply now fixed at 21 million. No more minting, no more manual burns - they upgraded the contract to remove that function entirely.
21M. Same number as BTC. That detail matters.
And the second quiet detail: OKB is no longer just an exchange token. It's now the sole gas token for X Layer. OKX Wallet, Exchange, and OKX Pay will be fully integrated with X Layer, with Pay using it as default chain. They just pushed the PP upgrade with Polygon CDK - 5,000 TPS.
They're killing off everything else to make this happen. OKTChain is being sunset by Jan 1, 2026, and even the Ethereum L1 version of OKB is being phased out - you have to migrate to X Layer.
So when you see price holding $93.52 today, it's not leverage rotating.
It's repricing from "discount coupon" to "gas for the whole OKX stack."
And third thing no one talks about: compliance. OKX Europe got its MiCA license Jan 27, 2025 from MFSA, and they have full VARA in Dubai. For a platform token, that matters more than a new listing.
So yeah, my levels:
$95 is noise until volume comes.
$100 is where everyone who bought the burn news wants to exit.
$90 is the only line I care about. That's the new floor.
I used to keep OKB in the corner of my portfolio. Now I have to actually think about it like infra.
Weird feeling when a boring token suddenly becomes scarce.
#OKXTraderVoices #BTCETHETFInflowsReturn $PEPE $OKB 🔥 Don't rush to guess whether BTC will rise or fall next—the real "showdown" hasn't started yet.
Brothers, the nonfarm payroll data has been released for two days, and the market has already given its first round of feedback.
BTC briefly surged above $65,350 from $64,750, then pulled back to consolidation near $64,800.
To put it bluntly, the market hasn't truly chosen its edge yet.
But this nonfarm payroll data actually sends a very important signal:
The job market is cooling down.
Nonfarm payrolls in July fell by 23,000, while the market had originally expected an increase of 80,000; Meanwhile, the combined employment data for May and June was revised down by 103,000.
On the surface, employment is clearly weak.
But the problem is—the unemployment rate actually dropped from 4.2% to 4.1%.
The reason is not that employment suddenly became stronger, but rather that labor force participation has declined.
So the market hasn't yet directly interpreted it as an "economic recession."
This is also why the real focus has begun to shift:
Previously, the market asked: Can employment hold up?
The market is now asking: Will the next CPI release completely change the Fed's policy expectations for September?
This is the real drama that follows.
Current CME data shows that the probability of a rate hike in September has dropped from over 50% to about 44%; Kalshi shows a 65% probability of maintaining the current rate.
So next, I wasn't in a hurry to guess the direction.
Because BTC is now waiting near $65,000 for a real catalyst.
📈 If CPI falls short of expectations:
Inflation continues to cool→ rate cut expectations are rising→ liquidity expectations are improving.
If BTC breaks through 65,500 with increased volume, it is very likely to further push toward 67,000.
📉 If CPI is higher than expected:
Inflation is resurging → rate cut expectations are cooling → rate hike expectations are heating up again.
Then BTC could quickly fall back to the 63,500–64,000 range.
So at this position, the most dangerous thing is:
Before the direction is decided, the position is too heavily betn.
Above 65,000, real incremental capital is needed to break through; On the downside, new bearish catalysts are needed.
Nonfarm payrolls have already played half the cards.
The other half is just waiting for CPI to flip the table.
So my approach is simple:
Before the data comes out, don't heavily bet on direction;
After a breakout, follow the trend;
If you make a mistake, strictly cut your losses.
Nonfarm payrolls are just a warm-up race.
CPI is the real showdown ⚔️
Brothers, don't guess next—let the market tell us the answer for itself.
$BTC $ETH $BICO #BTC #ETH #Crypto #CPI #Bitcoin
#DailyOrbit 美联储独立性再次成为市场关注焦点。
货币政策最重要的价值之一，就是稳定市场预期。
如果市场认为央行决策受到过多政治因素影响，可能增加投资者对于未来政策的不确定性。
当然，政府希望通过更积极的货币政策刺激经济，这在历史上并不少见。
但对于金融市场而言，比降息本身更重要的是政策可信度。
美元体系能够长期运行，很大程度依赖市场对于制度稳定性的信任。
未来市场关注的不只是利率变化，而是美联储是否还能保持独立决策能力。Ethereum's current state is quite intriguing: institutions have poured money for five weeks, and the price has remained stuck at 1900
ETH is currently priced just over $1900, and looking back at its all-time high of $4957, it has dropped over 61% so far, having been stuck halfway up the mountain for a long time.
An unusual data point is right in front of us: Ethereum spot ETFs have seen net inflows for five consecutive weeks, setting the longest inflow cycle of 2026, with a total inflow of $244 million. Institutions are continuously increasing their positions with real money, yet the market remains unmoved. Many people wonder: are institutions blindly buying in?
The answer is clearly no. Price-consolidation is essentially an extreme tug-of-war between long and bears, with ETF buyers being completely offset by the continuous selling.
There are mainly three sources of selling pressure:
First, Ethereum staking unlocking has become routine, with the total network staking rate surpassing 33%. A large number of early-locked tokens are gradually unlocking and circulating, with holders taking advantage of slight rebounds to cash out in batches, continuously releasing selling pressure into the secondary market;
Second, the original ICO whales continue to reduce their holdings. These people have ridiculously low holding costs—just a few dollars to exit, now at $1,900, returns hundreds of times. Selling easily is a huge profit, steadily selling over the long term, completely unconcerned about short-term market fluctuations;
Third, cross-chain arbitrage robots operate around the clock, causing price differences to appear in major global trading markets. Arbitrage funds continuously smooth out the differences, indirectly diverting and absorbing the incremental purchasing power brought by ETFs.
On one side, long-term institutions steadily hoarded coins; on the other, original token holders cashed out at high levels. The two forces were evenly matched, so the market naturally could only move sideways in place.
However, five consecutive weeks of ETF capital inflows is a significant signal. It is a long-term positive trend that has never appeared since the ETF's launch, and is a slow variable that gradually accumulates momentum.
Just remember the technical points:
The daily chart supports $1837 hard-core; if this level holds, the medium-term bottoming pattern will not be broken;
The key resistance above is at $1939-1940, which is also a resistance level in the downtrend. Currently, the MACD has not yet formed a golden cross, but the RSI has held steady at 61, entering a bullish zone, and bulls are ready to rebound at any time.
Once the volume surges and breaks through 1940, the first target is directly set to $2042.
As long as net ETF inflows continue for another two or three weeks, institutional buying will gradually absorb all selling pressure, and the supply-demand relationship will completely reverse.
By then, the $1,900 bottom will most likely never be seen again.我是老高，非农过去两天了，盘面第一轮反馈已经走完。
BTC从64750冲到65350上方，现在回落到64800附近横着，方向还没出来。
数据很清楚：7月非农新增负2.3万，预期正8万，5月和6月合计下修10.3万。失业率从4.2%降到4.1%，原因是劳动参与率回落。CME显示9月加息概率从50%以上降到44%，Kalshi显示维持利率不变概率升到65%。
拆开看，就业在走弱，但失业率下降让市场没法直接定价衰退。交易主线变了——之前是就业能不能压过通胀，现在是非农爆冷之后，CPI会不会重新改写9月政策定价。
下周CPI才是真裁决：偏弱，降息预期升温，BTC可能直接突破65500冲67000；偏强，加息预期抬头，BTC回踩63500-64000。
65000附近横盘，就是等那个催化剂。往上突破需要增量买盘，往下回踩需要利空触发。非农掀了半张桌子，另一半等CPI来掀。
数据出来前别重仓赌方向，止损挂好，方向明确再跟进。非农是前哨战，CPI是决战。
老高说完了。
---
顺便说一句，你贴的标签#存储股抛压缓和，AI内存牛市还稳吗？ 跟BTC短线逻辑是两条线，存储芯片中期看供需，短期跟着风险情绪走，别混为一谈。
你细品。
$BTC $ETH $BICO
#存储股抛压缓和，AI内存牛市还稳吗？
#财报观察员：空头回补成焦点，SpaceX后续怎么看？
#标普收盘再创新高，8000点预期升温 The more I watch, the more interesting ETH gets: ETFs have been entering with money for five consecutive weeks, with prices hovering around 1900, all stemming from a head-on clash between bulls and bears
The current ETH price is hovering just above $1,900, still below its all-time high of $4,957, but has been halved and dropped again, a drop of 61%.
Let's start with a hardcore stat: the US Ethereum spot ETF has set the longest consecutive net inflow record for 2026, with steady capital flowing in for five weeks, totaling $244 million. The highest weekly inflow hit a nearly four-month peak, with BlackRock alone taking up the majority of the buying, with institutions buying with real money.
Here's the outrageous part: institutions keep buying, buying, buying, buying, but the market price just won't rise.
Could it be that institutions can't understand the market and blindly enter as buyers? Definitely not. Sideways consolidation essentially means buying and selling volumes are equal, with the two forces canceling each other out, temporarily balancing supply and demand.
Digging deeper, the continuous selling pressure mainly comes from three types of sellers:
First, Ethereum staking unlocking volume continues to grow. Currently, the staking rate across the entire network has surpassed 33%. A large amount of tokens locked by staking in previous years have entered a normalized unlocking cycle. Early stakers receive freely circulating tokens and cash out in batches during rebounds, continuously supplying selling pressure.
Second, the ICO Ancient Whale has been reducing holdings in batches over the long term. From 2015 to 2017, the major players who participated in Ethereum crowdfunding had a holding cost of only $0.31. Now, selling at $1,900 yields a 300-fold return. Selling casually is a huge profit. Multiple ten-year-old on-chain wallets have steadily transferred tokens to exchanges over the long term, continuously shipping without caring about short-term price fluctuations.
Third, cross-market arbitrage funds are moving back and forth. Major exchanges and on-chain cross-chain bridges have long-standing price differences. Arbitrage bots work around the clock, leveling premiums while indirectly increasing secondary market circulation and selling pressure, absorbing incremental buying from ETFs.
On one side, institutions continue to buy long-term positions; on the other, old whales and unlocked tokens sell at high prices. With these two forces pulling back, the price can only move sideways and buy time.
But one thing must be clarified: five consecutive weeks of net ETF inflows are institutional signals never seen since the listing of Ethereum spot ETFs. They represent real long-term incremental capital inflows, a slow-variable positive trend that will sooner or later shift the supply-demand balance.
From a technical perspective, here's a clear line between life and death:
Strong daily support is locked at $1837; as long as this level is not broken, the medium-term consolidation bottoming structure remains intact;
The core resistance above is $1939-1940, which is also the resistance level for this downtrend. The MACD has not yet broken out of the standard golden cross, but the RSI has held above 61, already in a bullish zone, and bulls could push upward at any time.
Once volume increases and it holds above 1940, the first target is directly at the $2042 level;
If the momentum of net ETF inflows continues in the next 2-3 weeks, with a steady stream of institutional buying, the selling pressure will eventually be fully absorbed, and the supply-demand balance will tip completely.
At that point, ETH won't be stuck lingering at 1900, and a new round of rally will naturally followNasdaq futures at 29,839—wait for CPI to be released
Nasdaq futures surged to 29,839 before the market opened. Last week, it rose 3.6%, and before the data came out, it continued to push higher, indicating funds are betting on cooling inflation and that the Fed will loosen later.
But when it comes to false starting, the biggest worry is data not cooperating. If CPI stickiness remains, the increase built up earlier this week will most likely be reversed. I've seen this kind of scenario more than once this year, and every time someone thinks, "This time is different."
So what I really care about isn't whether the market opens high or low. After the data comes out, how the bond market and the dollar will perform better than the stock index itself.
If the 10-year yield can hold back and the dollar doesn't strengthen again, then this risk appetite recovery will have some foundation. Conversely, if yields jump and the dollar rebounds, the current rally is most likely just short covering, and this rebound will turn hostile quickly.
My observation is simple: after the CPI is released, see if the Nasdaq can hold onto last Friday's closing structure. If it holds, it means the market's early trading logic has been validated, and there is still room to watch later. If it can't hold, expectations will be taken back. Withdraw when necessary, and don't mistake the previous K-line for trend confirmation.
The first five minutes after the data release are basically algorithmically one-sided; the real direction will only become clear after 45 minutes to an hour, after European capital has finished turnover.BIP-110 is becoming less a test of script policy than a test of how Bitcoin resolves contested change. Near-zero miner support and a backer-run fork trailing mainnet after block 961,632 suggest that technical conviction alone cannot substitute for broad coordination.
The measured lesson is that neutrality disputes are settled not only through argument, but through adoption, infrastructure support, and safe asset handling. Ledger’s warning also makes the immediate risk practical: without adequate protection, activity on the minority chain could expose mainchain BTC. NFA — do your own work.
#BIP110ForkFallsBehind #OKXOrbitSOL's attention rate is 0.44x; what really depends on whether it can continue
On August 9th at 14:00, OKX Onchain OS recorded 8 mentions of SOL in one hour, at about 0.44 times the 24-hour average, with the current tone being "Bullish Clearly Favorable."
Here, two things need to be separated: faster mentions only mean more new discussions; Bullish or bearish dominance only means text classification, neither equals real buying and selling. In this round, X has 8 sources and 0 news sources. The more concentrated the sources, the easier it is for a single narrative to be amplified.
I'll wait for the next snapshot to confirm whether the speed and source continue, then check spot transactions, funding rates, open interest, and on-chain usage. If the data can echo each other, this wave of interest is worth looking forward to.When people mention Apple now, they think of the iPhone, Mac, AirPods, and a tech company with the world's strongest brand influence. But by 1997, Apple had been suffering consecutive losses and its market share was steadily declining. Jobs later recalled that the company was only about 90 days away from bankruptcy. What's even more absurd is that when Apple needed someone to save its life the most, the one it finally found was the founder it had ousted 12 years ago. This story takes place in the personal computer era, but the product out-of-focus, capital consumption, and ecosystem confidence crisis Apple faced back then are actually quite familiar in today's crypto industry. In 1985, Jobs and then-CEO John Scully engaged in a power struggle, and the board ultimately chose to support Scully. After losing control of the company, Jobs left Apple, which he founded with his own hands. In the following years, Apple continued to operate thanks to the advantages accumulated from the Macintosh, but gradually fell into a dilemma common to large companies: more and more products, but the direction became increasingly unclear. At that time, Apple sold a large number of computers with confused names and overlapping functions. Performa、Quadra、Centris、Power Macintosh…… Some products are so different that even internal staff can't tell the differences, and consumers certainly don't know which one to buy 😅. What's even more troublesome is that Microsoft's Windows lineup is rapidly expanding. Apple insists on being softThe real story isn't today's gainers list — it's where event density and capital are actually building. 👀 $BTC | Macro flows + the core asset Between August 3–7, US spot Bitcoin ETFs posted five consecutive days of net inflows, totaling roughly $865 million. With US jobs data softening, Bitcoin remains one of the cleanest crypto proxies for repricing rate expectations. When macro hedges rotate, BTC is where institutional money shows up first. $ETH | Institutional capital is heating up on-chain - The S&P 500 and Dow Jones have repeatedly hit new all-time highs; the Nasdaq follows suit with new highs. The market is highly differentiated, not a broad rally, with capital concentrated in AI technology and semiconductor sectors, while traditional sectors perform weakly.
- The Philadelphia Semiconductor Index SOX is the strongest main theme, with recent large volatility and frequent sharp intraday swings. Storage chips, AI chips, and optical modules rotate and strengthen.
- August is traditionally a slow season for US stocks, with trading volume lower than usual, making news amplify price fluctuations.
II. Core Macro Drivers
Positive Factors
1. Weakening Nonfarm Payroll Data: July nonfarm payrolls unexpectedly decreased, with previous data significantly revised down. Labor market cooling suppresses expectations for further Fed rate hikes, benefiting growth tech stocks.
2. Continued AI Capital Support: Cloud giants keep expanding computing power; storage, high-speed optical modules, and GPU order expectations remain high, providing core confidence for the semiconductor sector.
3. Some easing of Middle East geopolitical tensions, with crude oil temporarily retreating, reducing inflation pressure expectations.
Negative Factors/Risks
1. Significant Fed internal divisions: Some officials continue hawkish rhetoric. If inflation rebounds, expectations for a September rate hike will resurge, and US Treasury yield volatility will directly pressure overvalued tech stocks.
2. Oil price disturbances remain: Geopolitical news related to the Strait of Hormuz can push oil prices up anytime, indirectly raising inflation expectations and suppressing stock market risk appetite.
3. Historically, August to October is a weak window for US stocks; the risk of a high-level market correction cannot be ignored.
4. Earnings season is ending, with fewer major earnings catalysts ahead; the market will focus more on macro data and news.
III. Sector Strength and Weakness Breakdown
✅ Strong Sectors
1. Semiconductors (SOX)
AI computing chain: Nvidia, Broadcom, AMD, Marvell;
Storage chain: Micron, SK Hynix, Western Digital (SanDisk), driven by HBM and AI server demand, but stock prices are highly volatile, with both positive and negative news causing large swings;
Equipment: Applied Materials, KLA, Lam Research;
Optical communication: Coherent and other optical module stocks show strong breakout potential, driven by AI high-speed network demand.
2. The Big Seven AI Tech Giants
Meta, Microsoft, Google, Amazon show stronger resilience; Apple’s trend is weaker, with consumer electronics expectations#现货ETF资金回流, can BTC and ETH take over?
$ETH Ending continuous outflows and welcoming capital backflow—has institutional capital really returned?
Many people are asking whether this wave can take over the rally. ✅ First, let's talk about positive signals: BTC and ETH spot ETFs have recorded net inflows for several consecutive days, ending the previous period of bleeding. This means traditional off-exchange funds are starting to enter on dips, bringing spot buying to mainstream coins to support Sina Finance. From a resilience perspective: BTC's base is more stable and suitable as a market anchor;
ETH is more resilient; if the market starts, its price fluctuations will be even sharper than BTC's, and whether it's spot or futures, volatility will be amplified.
⚠️ But here, retail investors must be poured cold water on this: single-day, short-term inflows ≠ immediately trigger a major bull market.
1. Compared to the previous large-scale outflows, the current inflow scale is not yet explosive; it is more of a bottoming recovery phase, not a reversal of explosive volume. What matters is whether net inflows can be maintained for several days, rather than a one- or two-day pulse inflow.
2. The macroeconomic hurdle is unavoidable! The previous nonfarm roll unexpectedly turning negative only lowered rate hike expectations; the CPI will be the anchor going forward. If CPI inflation rebounds again and Fed rate hike expectations return, even if ETFs are flowing in, risk assets will still be pressured and fallen, and ETF funds could flow out at any time.
📊 Practical approach for ordinary retail investors:
1. Spot Trading: Don't rush at ETF inflows. Prioritize monitoring ETF liquidity + key support levels. BTC can hold key positions and position in batches; ETH rebounds can be limited to small positions, accept high volatility, and avoid heavy positions betting on one side.
2. Contracts: ETF inflows bring sentiment support, but it's easy to see "good news realized and dumped." Don't chase highs or blindly go long; wait until news matches K-line resonance, and strictly control leverage.
3. Risk Priority: CPI data > ETF capital flows > market sentiment. Macroeconomics is the core that determines the overall trend; ETFs are more of an amplifier of sentiment. 💡 Summary: ETF capital inflows are a positive signal for bottoming, but not a direct ticket to gain.
To break out of the relay market, two conditions must be met simultaneously:
(1) ETF funds continue to flow in, not just overnight visits;
(2) CPI data cooling down, suppressing rate hike expectations. Without any of these, the market will continue to fluctuate and tug-of-war; don't let a single piece of news cloud your judgment.
$ETH $BTC