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#白宫峰会：特朗普称曾讨论购入BTC
Bitcoin is strong alone, altcoin risks must be taken seriously
Currently, all market funds are clustered in Bitcoin, and most altcoins have not followed Bitcoin to achieve significant gains, indicating that there is no massive influx of new funds into the entire crypto sector.
Once Bitcoin starts to pull back, altcoins lack spot buying support to defend prices, and their retracement often far exceeds BTC. Friends holding altcoins, never assume that because Bitcoin is stable, altcoins are safe; you must be prepared for risk prevention. $BTC $ETH $CAP on-chain data shows that the coin's whales hold 98% of the chips. Those who say the whales don't have money to pump the price are really ridiculous. Would a project team of a recently launched altcoin have no money? This kind of highly controlled coin is a gamble between bulls and bears, with no technical or news basis. Whether it rises, falls, or consolidates is just the whim of the 🐶 whales.Dangerous! Plans have changed, I want to become the leader of the 🈳short🈳 army 🤪
Today on TRUMP, I experienced both long and short positions. I suffered losses on the long side earlier, but this time I finally caught the window of emotional retreat, successfully closing two short positions.
This kind of meme coin is like this: when it rises, market sentiment is frenzied, news and KOLs keep shouting, and the market heats up. But this rise lacks solid fundamental support and relies entirely on capital relay. Once the excitement is exhausted, selling pressure quickly surges out, and the market reversal often happens in an instant.
The losses from the previous long positions also served as a warning to me not to blindly chase hype. When the market rally starts to weaken and upward momentum can't keep up, I judge that the party is about to end, so I gradually set up short positions—one with isolated margin, one with full margin—separately to manage position sizes.
Watching the price step by step fall back, I finally closed all positions and took the profits, feeling a lot inside. For the same coin, being wrong on direction is a deep pit, but being right lets you ride the market. But I clearly know that a large part of this profit comes from the rotation of market sentiment, not something I can replicate every time with my own skill.
In thematic speculation, the biggest fear is being swept up by the market noise. When others are crazily chasing the rise, you need to be even calmer. Don't be blinded by short-term surges; the hype can't last forever. The more violently it rises, the faster it will fall when the tide recedes.
Trading requires knowing when to act and when to stop. Never cling to a losing battle. Unrealized profits don't count; only realized profits truly belong to you.
This is just my personal live trading record and does not constitute investment advice.💰 SAMSUNG’S $80B SIGNAL MATTERS
Samsung’s massive shareholder-return plan, alongside SK Hynix’s buybacks, highlights how strongly AI-driven memory demand is translating into cash flow.
The bigger story is the balance between shareholder payouts and continued HBM, advanced-chip, and fab investment.
For crypto, this reinforces the broader AI-capex narrative—but it doesn’t automatically mean $BTC goes higher. Liquidity, risk appetite, and macro conditions still decide the pace.
$BTC $ETH $DOGE$CRCL's underlying stock surged 5% on Friday, while the token is stuck at 87.33 with a discount. The US stock market is closed over the weekend with no one to take over. I watched all night and felt this position is a bit shaky.
📰 News: Circle board member Michele Burns just disclosed selling $283,000 worth of underlying stock. simplywall.st and Motley Fool are both discussing CRCL's unusual movement. The 16% rise over two days is mainly driven by crypto sentiment; no matching new fundamentals are seen in the underlying stock.
🔧 Technicals: The daily RSI14 is already at 78.1, deeply overbought. MACD shows a golden cross with expanding red bars, but the price is sticking to the Bollinger upper band at 87.77 and lower band at 55.67, above MA7/MA25. The moving averages are in a bullish alignment, which looks more like an emotional peak, with a short-term deviation too large.
🌍 Macro: The Nasdaq 100 tokens only rose slightly by 0.18%. With the US stock market closed over the weekend, tokens have no underlying stock traction and liquidity is thin, making it easy to amplify one-sided volatility during this period.
🎯 Today's view: Bearish. Overbought combined with weekend market closure, the token premium at -0.74% indicates no new buyers willing to chase highs. I tend to stay out and wait for sentiment to cool down and watch the pullback strength.
📊 Token 87.33 (-3.76%) | Underlying stock 87.98 (+5.16%) | Premium -0.74% | US stock market closed over the weekend
#USStockTokens
#CircleToken
#Nasdaq100 Asking about the nature of BTC's rebound: the gap between price increase and anticipatory reflection. On the surface, ETF fund inflows and short covering seem to have driven the rise, but it must first be noted that what the market is actually repricing could be changes in the bond market. The original post conveys three key facts. BTC has recovered to $77,000 and is testing $78,000, while ETH is holding around $24,000. This movement is explained as a result of strong ETF inflows, short position liquidations, and expectations of expanded U.S. Treasury bond repurchases. However, the original text presents $77,000 and $24,000 as key support levels, while simultaneously warning of FOMO and increased volatility due to the sharp rise. The structural significance of this event is not a BTC-only rally, but that cryptocurrencies are riding along as macro variables like gold and Treasury repurchases, which have surpassed $4,600 in interest rates, reshape risk appetite. The expectation that Treasury repurchases will lead to improved liquidity is short-term $SOL just delivered a sharp move higher, and what stands out is how aggressively buyers defended the price. Holding activity is also picking up, while whale-entry data is starting to circulate. Still, on-chain signals need confirmation. I’m holding $OL with a bullish bias, but watching volume closely. $KAT remains another one on my radar. As a Layer-2 project, it still has room to regain attention if liquidity rotates back into the sector. At current levels, the valuation looks interesting to $UNITREE – Still riding a strong uptrend
$UNITREE LONG
Entry: 4.252 – 4.265
Stop Loss: 3.918
TP: 4.395 - 4.770 - 5.008
Plan & Logic
The market shows a mature, strong regime with confirmed volume expansion, supporting continued upside. Price action is reacting near an important level, so risk management matters here. The setup depends on confirmation around the entry zone and follow-through after the move.
Trade $UNITREE hereKeywords: $79,555, 24% weekly increase, 189,000 liquidations, $606 million single-day ETF inflow, Dalio recommends allocating Bitcoin, Strategy returns to profitability Market overview The crypto market experienced the strongest weekly performance of the year this week. Bitcoin hit an intraday high of $79,555.5 on Friday, approaching the $80,000 psychological level. At the time of writing, Bitcoin is priced at $78,127, up 5.63% in 24 hours. The cumulative increase this week has exceeded 24%, marking the largest weekly gain since March 2023. Bitcoin has rebounded over 35% from the early July low of about $57,600. Ethereum also strengthened in tandem. ETH opened at $2,326.60, up 3.3%, briefly surpassing $2,500, with a cumulative weekly gain of about 26%. HYPE continued to rise, boosted by comments from Trump. Liquidation data: In the past 24 hours, a total of 189,000 people worldwide were liquidated, with total liquidations amounting to approximately $1.459 billion. Among these, long liquidations accounted for $310 million, short liquidations $1.15 billion, with shorts making up about 79%. The largest single liquidation occurred on the Hyperliquid BTC-USD contract, valued at $24.96 million. Over the past three days, approximately $4.5 billion worth of short positions across the crypto market have been forcibly closed. ETF funds: The US spot Bitcoin ETF has attracted over $1 billion in net inflows this week, potentially marking the largest weekly inflow since January this year. On August 19 and 20, approximately📰 【Fairmint CEO says tokenized stocks could replay Wall Street's 'paper crisis' of the 1960s.】
Tokenized stocks sound impressive, but if the underlying clearing and custody still rely on old methods, problems are just a matter of time. The paper crisis in the 1960s was essentially caused by infrastructure not keeping up with trading volume. Now, on-chain speeds are faster, but compliance, cross-chain, and broker integration remain bottlenecks. Retail investors shouldn't just chase the concept blindly; first, consider what your tokens can actually be redeemed for if something really goes wrong. Which part do you think is most likely to get stuck right now? 👇👇👇
$BTC $ETH $BNB Permanent Portfolio (More Suitable for Ordinary Domestic Investors) (99% Can Be Configured Within Alipay)
Many people have heard of Harry Browne's "Permanent Portfolio," but the original version was designed based on the US stock and bond environment, which doesn't directly fit well with the domestic market.
I have localized and optimized it according to the actual situation of ordinary domestic investors: four parts each accounting for 25%. The core is not to bet on big gains but to use structure to counter uncertainty, pursuing steady returns across cycles through long-term holding + regular rebalancing.
In short: 25% dividends + 25% bonds + 25% gold + 25% overseas assets.
Below is the Alipay exclusive version (mainly using off-exchange linked funds). You can buy directly by searching the corresponding names in Alipay's "Wealth Management" → "Funds," starting from 1 yuan, supporting regular investment plans, no need to open a stock account.
If you want pure on-exchange ETFs for lower fees and T+0/T+1 trading, you can additionally open a brokerage app, but 99% of people will find the Alipay version fully sufficient.
1. 25% High Dividend Assets (Combination of Offense + Defense)
Focus on "cash cows" with stable cash flow and continuous dividends. In a bull market, you get dividends + moderate appreciation; in a bear market, it provides a buffer.
Alipay recommended targets (off-exchange linked fund versions):
• Huatai-PineBridge Dividend ETF Link A/C (corresponding to 510880)
• Fullgoal CSI Dividend ETF Link or E Fund CSI Dividend ETF Link (corresponding to 515080)
• Dividend Low Volatility ETF Link (corresponding to 512890)
Why allocate 25%? To provide stable cash flow and hedge against inflation and market volatility.
2. 25% Cash or Short-to-Medium Term Interest Rate Bonds (Stabilize the Base)
This part is a safety buffer, basically stable or slightly profitable during market crashes, and can be used anytime for high sell/low buy or emergencies.
Alipay recommended targets:
• Yu'ebao (or search "money market funds")
• Short-term bond/medium-short bond funds (search "short-term financing bond funds" or "policy bank bond funds")
• Corresponding government bond/policy bank bond linked funds (search "5-year government bond ETF link" or "policy bank bond ETF link")
Why allocate 25%? To stabilize the overall portfolio during stock or gold crashes and avoid forced low-price selling.
3. 25% Gold (Hedge Currency and Uncertainty)
Gold is a natural "crisis currency," able to hedge RMB depreciation, inflation, and global geopolitical risks.
Alipay recommended targets:
• Huaan Gold ETF Link C (most recommended, search "gold ETF" or "Huaan Gold" to enter directly)
• Bosera Gold ETF Link C or E Fund Gold ETF Link C
Why allocate 25%? Low correlation with stocks and bonds, serving as insurance within the portfolio.
4. 25% Cross-border High Liquidity Assets (Diversify Single Market Risk)
Don't put all your eggs in the domestic basket; diversify into global quality assets through QDII.
Alipay recommended targets (QDII linked fund versions):
• Bosera S&P 500 ETF Link A/C (corresponding to 513500)
• Guotai Nasdaq 100 ETF Link (corresponding to 513100)
• Hong Kong stock dividend ETF Link or Hang Seng Hong Kong Stock Connect High Dividend Low Volatility ETF Link (corresponding to 513530, etc.)
Why allocate 25%? To hedge domestic single policy or economic cycle risks and enjoy global growth dividends.
Key Execution Points (Most Important!)
• Strict proportions: Initially build positions with four parts each at 25%, then rebalance once a year or every six months (sell a bit of the part that rose more, buy a bit of the part that fell more), strictly enforcing "sell high, buy low."
• Operation method: Directly search the names on Alipay's fund page, one-click buy or set up regular investment. Use linked fund versions if the capital is small; this is the simplest operation for ordinary people.
• Mindset: This portfolio is not for doubling your money in a year but to ensure your assets won't suffer too badly in various extreme environments, accumulating stable returns through long-term compounding.
• Personalized adjustment: Those with low risk tolerance can increase bonds + gold to 30-35%; more aggressive investors can increase overseas + dividends to 30%. But don't mess with the core four-part structure.
Historical Annualized Reference for Each Part
• High dividend assets: Long-term annualized about 6-7.5% (including dividends, similar to 510880 historical performance).
• Cash or short-to-medium term interest rate bonds: Long-term annualized about 2-4% (mainly stable buffer function).
• Gold: Long-term annualized about 5-8% (high volatility but outstanding crisis protection).
• Cross-border assets (S&P 500/Nasdaq QDII): RMB-denominated long-term annualized about 8-12% (including exchange rate effects).
• Overall portfolio backtest reference: About 6-9% annualized over the past 10 years, about 7-8.5% over longer periods (around 20 years), maximum drawdown usually controlled within 10-15%, much lower than pure stocks.
This "Alipay version Permanent Portfolio" is most suitable for ordinary people who don't want to watch the market daily but want to achieve compounding through investment—using structure instead of prediction, discipline instead of luck.
Stick to it, and time will give you the answer. Just now, there was a full scale plunge! $BTC quickly fell back from above 78,000, not due to a clear single negative factor, but more like a buildup of leveraged long positions after consecutive short squeezes in recent days, triggering a chain of stop losses amid thin weekend liquidity. About $523 million was liquidated in the past hour; combined with portfolio adjustments before today's options expiration, volatility was amplified. Holding 76,000 still indicates strong consolidation; losing tI prefer to understand this round of surge as being driven by two forces together.
On one side, the macro liquidity expectations are easing, and after long-term bond yields drop, funds naturally start looking for higher-yielding assets.
On the other side, the shorts are fueling themselves.
After BTC broke through a key level, a large number of short positions were continuously liquidated; the more liquidations, the higher the price rises, and the higher it rises, the more people are forced to close positions—a typical short squeeze.
So this wave is not purely driven by sentiment.
Macro funds are pushing, and shorts are assisting.
After BTC moves first, mainstream altcoins also start to catch up with the rally.
What we fear most now is not the rise itself, but the rise happening too fast.
In this kind of market, if you haven't gotten on board, don't rush to chase; if you already have profits, don't forget to take them.
The biggest mistake in a bull market is thinking it can keep rising when prices go up, and only realizing your position is too heavy when prices fall.$BTC once touched nearly 79,600 intraday, then quietly slipped back to the 77K level—don’t rush to call it bullish or bearish yet; the derivatives side has more information. The funding rates for the three major perpetual contracts are still firmly in the positive range, meaning longs are continuously paying shorts; and in the past 24 hours, liquidations across the network have overwhelmingly hit shorts. In plain language: a large part of the fuel pushing the price up is actually "help" from forced liquidations of short positions, not new buying actively coming in. In this structure, the peak of a short squeeze is often the peak of short-term momentum. The data won’t play games with you. Do you think this wave is the start of a trend or just a pulse top?In the final stages of the two historical Bitcoin bear markets, a key feature emerged: a sudden strong weekly bullish reversal. These "giant bullish candles" often caught most market participants off guard and could signal the start of a new bull market. Such rallies are usually driven by a "short squeeze." As Bitcoin prices rise, bearish traders increase their short positions, and as the uptrend accelerates, these shorts are forced to cover, further pushing prices higher. Historical data shows that at the end of the 2019 Bitcoin bear market, there was a weekly increase of 31.98%, which then triggered a new upward cycle. In January 2023, amid extremely pessimistic market sentiment following the FTX collapse, Bitcoin rose 24.90% in a single week, reversing the previous bearish expectations $BTC #新手必看：这里有你需要的一切 #交易之声：你的经验值得被听到 The 30-year US Treasury yield has hit 5.32%, a figure not seen since 2007. This news carries more significance for the crypto community than most people realize.
First, let's look at the driver: it's not the Fed's rate hike expectations, but the fiscal situation itself—July's deficit hit the highest single-month level since March 2021, with total debt approaching $40 trillion. The Treasury Secretary announced an expansion of long-term bond repurchases this week, yet long-term yields still hit new highs, indicating that policy support is insufficient.
A risk-free rate of 5.3% should have drawn money away from all risk assets, but the actual performance over the past 7 days is: gold +4.7%, $BTC +22.5%. Bonds are losing value, and money is seeking an outlet—this is not a rate hike logic, but a fiscal credit repricing logic, which perfectly aligns with the strongest narratives for gold and Bitcoin.
Ray Dalio's concurrent advice also matches: reduce bond holdings, allocate 10–15% to gold, and a small portion to Bitcoin.
Going forward, focus on one thing: if the 30Y yield falls back below 5%, and $BTC and gold simultaneously pull back, then this wave is just an inflation trade; as long as that doesn't happen, the credit repricing logic remains.#BTC continues its strong momentum, can the capital flow sustain?
Market participants' capital structure
This surge was driven by the combined efforts of three types of capital.
The first to act were the short sellers forced to liquidate. A large number of short positions accumulated during the sideways phase were successively liquidated after the market started to rise, and the forced buying further pushed up the price. But this is a one-time dividend; once the shorts are exhausted, this upward momentum disappears.
Next is the ETF institutional capital, which represents genuine incremental off-exchange funds, leaning towards medium- to long-term allocation and not frequently entering and exiting quickly. However, capital inflows are not endless; once the inflow scale declines, the market loses an important support.
Finally, there are ordinary retail investors chasing the rally, afraid of missing out and following the trend. This type of capital is driven by sentiment and tends to panic sell when the market experiences slight fluctuations.
At present, shorts have basically been cleared out, so this driving force no longer exists. Whether the market can stabilize going forward mainly depends on ETF buying, whether it can absorb profit-taking and retail selling pressure.
If ETF inflows slow down, relying solely on retail enthusiasm will struggle to support the price, increasing the risk of a high-level pullback. Ethereum's volatility will be even more intense than Bitcoin's. $BTC
Shouted bull in the morning to go back in, shouted blockchain scam in the afternoon 😅
In the past 4 hours, the whole network liquidations reached $639 million, with long positions at $504 million, accounting for 78.9%. But looking at the 24-hour window, shorts liquidated more, $1.01 billion versus $791 million. Those who chased shorts in the past two days and those chasing longs today are being taken out in turns.
Leverage is lively here, but the spot market deserves a closer look. ETF inflow numbers look pretty good, but when broken down, something feels off.
On August 20, the entire market had a net inflow of $606 million, the largest day since May 5. Among them, BlackRock's IBIT alone accounted for $503 million, while all other funds combined only just over $100 million.
Looking back at other big inflow days this year, BlackRock generally accounted for 45% to 63%. On May 1 it was 45%, May 4 was 63%, and the day before, August 19, was only 55%. 83% is an outlier.
So strictly speaking, this is not institutions scrambling to accumulate, but one institution scrambling to accumulate. The problem with this kind of buying is that it’s not diversified; if BlackRock stops buying one day, that $500 million disappears directly, and others can’t make up that volume.
By the way, a pitfall: On the Farside table, the total for August 21 is only $68.2 million, which looks like buying has cooled off, but the IBIT cell is a dash, meaning the data hasn’t been reported yet, not zero. Whether they bought in the past two days or not, we have to wait for that cell to be filled to know; any conclusion now is just guessing.
$BTC #BTC #Liquidations $HYPE will reach $200-250 in Q2 2027
It will surpass $HOOD's peak market cap (or at least reach 60% of hood's peak market cap). $HOOD achieved over 10x growth within a single year to a $130 billion market cap, which is normal for a fintech company of this scale.
$HYPE currently has only a $10 billion market cap. I don't think the market has priced in or fully understood the ripple effects of the recent NYSE consolidation. This is bigger than cryptocurrency. If anything, it proves the argument that a single super ecosystem correctly using blockchain as a springboard to devour the entire financial industry will become a reality.
I have invested 30% of my entire net worth into $HYPE at a buy-in price of $37.5, and I am happy to buy the dip on any pullbacks in $HYPE over the next 6 months BTC surged 24% in three days, is 79,500 the start or the end?
In three days, BTC rose from 64,100 to 79,500, up over 20%, with liquidations of 840 million, shorts accounting for 670 million — a short squeeze cycle, not a rebound.
Three triggers: US Treasury yields falling; regulatory shift; ETF net inflow of 600 million, institutional return.
But a short squeeze ≠ trend confirmation, profit-taking pressure is high. Watch three signals: continuous ETF inflows, premium turning positive, holding 72,000-75,000.
Is it the start or the end? The market will give the answer, position management is your responsibility. Follow ETF movements tomorrow, stay focused and don’t get lost. What’s your view? Discuss in the comments.
$BTC $ETH
#BTC #ETH #cryptocurrency
The above is market analysis only and does not constitute investment advice. Amazon is hovering with reduced volume around the $258 mark, with bullish and bearish funds maintaining a delicate standoff between the trillion-dollar annual revenue base and the pace of computing power investment.
$AMZN is currently trading at $258.63, down slightly by 0.57% for the day, with trading volume shrinking to around $35.44 million, and intraday volatility significantly narrowing.
Over $770 billion in operating revenue corresponds to a price-to-sales ratio of about 3.6, with continuous expansion of cloud computing and AI computing power infrastructure sustaining the fundamental core.
The narrow price consolidation on the chart directly reflects the market's uncertainty about whether the scale effects of computing power infrastructure can smoothly translate into profit realization.
If subsequent demand for large model inference accelerates computing power utilization and drives valuation multiples upward, the stock price will open up upside potential; if overall revenue growth stalls, the valuation expansion logic will immediately fail.
If the high interest rate environment continues to suppress tech stock valuation multiples, combined with a passive lengthening of the hardware capital expenditure recovery cycle, market pricing may retreat to lower multiples; if large-scale buybacks occur to hedge, this will interrupt the downward valuation trend.
When the macro discount rate and actual business increments maintain a dynamic balance, shares will repeatedly change hands within the current range until one side shows substantial deviation in data.
The most important variables to watch in the coming weeks are the actual extent to which capital expenditures suppress gross margins, as revealed in institutional holdings reports and earnings disclosures.
#SPCX本周解禁3.19亿股，抛压能否被承接？ #Anthropic拟8月底公开IPO文件，募资或追平SpaceX$CORE The fundamentals of CORE are the core anchor supporting all bullish logic. Core DAO currently holds $314.4 million in TVL, with 5,541 BTC staked, accounting for 26.4% of the total locked value across all Bitcoin sidechains. In the Bitcoin sidechain sector, CORE is undoubtedly the "king of locked value"; this over $300 million TVL is not just air, but actual Bitcoin staked on-chain.
Real economic activity is happening on-chain. In the past 30 days, Core ecosystem application layer fees have totaled $58,900, while the underlying chain Gas fees were only $274. Application layer fees are 215 times the base Gas fees. This means user behavior has shifted from simple transfers to substantial DeFi participation and staking operations, indicating increasing network usage intensity.
In 2026, Core DAO will officially shift its development logic from "narrative-driven" to "revenue-driven." All fees within the ecosystem will be centrally managed and specifically used for secondary market token buybacks. SatPay has entered public beta, with over 20,000 compliant debit card sign-ups; the three main products—LST liquid staking, AMP asset management protocol—are the core drivers of cash flow.
But the problem is—SatPay currently has no real revenue, no ecosystem income, and no business closed loop. Every time CORE pumps, it’s coordinated by speculative traders pushing the narrative of "SatPay’s upcoming public beta." But when the news actually materializes, it often marks the moment when "good news is fully priced in and turns bearish." $BSB is trying to bounce after taking out bottom liquidations with a massive $0.0705 wick.
Key Levels:
Current Status: Testing the blue downtrend line.
First Barrier ($0.1300): Needs a daily close above this level to confirm a bounce.
Major Resistance ($0.1600 - $0.1800): The purple box zone where heavy selling is expected.
Main Target ($0.3300): Major horizontal level for a full reversal.
Summary: Holding above the recent low keeps a relief bounce towards $0.130 – $0.180 alive.
$BSB The crypto market has just experienced a severe short-term turmoil: within just 15 minutes, about $500 million in long positions were forcibly liquidated, and market panic quickly intensified. However, the subsequent signals of institutional capital inflows injected new points of interest into the market. 📉 Most notably, asset management giant BlackRock saw its spot ETF products (IBIT and ETHA) see cumulative inflows of approximately 11,098 BTC and 132,769 ETH within just two days, with a total value of approximately $1.17 billion. It should be made clear that this was not BlackRock using its own funds to buy directly, but rather that its managed spot Bitcoin and Ethereum ETFs attracted a large amount of subscription capital from external investors. This data indirectly reflects that allocation demand from traditional financial institutions and large investors is significantly warming up, with signs of institutional funds returning to the crypto market becoming increasingly apparent. 🧐 From a market structure perspective, this round of concentrated liquidations within 15 minutes was more a rapid deleveraging after overheated leverage, rather than a deterioration in fundamentals. In areas with relatively weak liquidity, the tug-of-war between bulls and bears often leads to sharp price swings. The release of short-term liquidation pressure, combined with continued capital inflows from the ETF side, has provided the market with certain stabilization conditions after a sharp drop. The current market focus remains on several key price levels: whether Bitcoin can effectively hold and break through the $80,000 mark, whether Ethereum can reclaim the $2,800 area, and whether XRP can maintain its strong momentumMorning bearish and high-level distribution warning review about 13 hours ago on 8.22: Among the 3 contracts, KAITO and ROBO realized profits, and prices began to weaken; ENA rebounded and has not yet shown a one-sided decline. This is the first $ time review. Initial observation recap: chips are dispersing. $KAITO KAITO: Realized profits, the morning bearish direction has already emerged. After the initial release, the price continued to weaken by 10.4%, indicating that the high-level pullback is still ongoing. Open interest simultaneously dropped by 16.97%, with price and open interest falling together, reflecting more of a position withdrawal without stable support. $ROBO ROBO: The morning high-level distribution warning was confirmed by the price. After the initial release, the price weakened by 4.68%, and the ratio of active buy to sell orders also dropped from 0.81 to 0.54, indicating further retreat of active buying. The pullback lacked buying support, and the bearish direction still dominates. $ENA: Rebounded, the morning bearish trend has not yet emerged. After the initial release, the price did not fall but rebounded by 11.76%, and open interest increased by 8.77%, indicating new positions followed during the rebound. The current active buy/sell ratio returned to 1.03, and active buying has not significantly retreated; this needs to be reviewed truthfully and should not be forcibly counted as realized profits. Next, continue to monitor whether the price weakness of KAITO and ROBO can gain transaction and active selling confirmation, and also observe whether there is support and repair after the decline in open interest. ENA is the key counter-evidence: if the rebound continues and open interest keeps increasing, the morning bearish logic needs to be reconsidered; if active buying retreats again accompanied by price... Why am I so stubbornly clinging to the past? Because it hurts too much, I simply can't forget these things.
In 2018, when I just entered the crypto world, I found the first pattern of Bitcoin: every time it dropped to 6000, it would rebound. I played long at 6000 several times, but eventually there was no fluctuation at all. Before the breakout, the chart looked like the first one; looking at it, you'd think it had bottomed out. On November 15, I lost 40 Bitcoins overnight.
Look at the second chart showing the breakout.
On March 12, 2020, I didn't lose money. Bitcoin dropped 50% overnight, and I actually chased shorts after it broke below 6400. When I woke up, it was 3800. Ouyang Zhuo Bai stepped in to bottom-fish, and BitMEX pulled the plug.
Those who experienced liquidation on March 12, 2020, basically never opened contracts again. The owner of onekey was making videos back then, and after liquidating hundreds of Bitcoins on March 12, he quit contracts and started a wallet business.Bitcoin surged to 79,000, yet some say we're still in a crypto winter
In the past couple of days, Bitcoin has surged all the way to 79,000, and the community has been shouting bull market. In just the last 24 hours, nearly 1.2 billion in short positions were liquidated. But amid all this celebration, Maxime Seiler, CEO of STS Digital, poured cold water on the excitement. He said that from a price perspective, we are actually still in a crypto winter, but from the institutional side, summer has already arrived early. One side is building pipelines on-chain, the other is waiting in front of screens, and the gap between them is not just price.
This sounds awkward, but when broken down, it's quite interesting. Seiler means that the big money entering now isn't focused on whether the coin price will go up or down tomorrow, but on the underlying on-chain technology and infrastructure. Institutions are busy moving bonds, funds, and stocks onto the blockchain, doing custody, clearing, and settlement—these tough tasks. Money doesn't necessarily flow directly into tokens, so the heat of technology adoption hasn't yet reflected in coin prices. In other words, institutions are building roads, retail investors are waiting for the price to rise, and their rhythms are completely out of sync.
The most direct signal is the basis. Bitcoin futures basis, which could reach an annualized 20-30% during the 2021 bull market, has now narrowed to near risk-free rate levels. This means market leverage and sentiment are much more stable than the last cycle, and the channels for USD inflows and outflows are deeper. It sounds good, but it also means the space for violent pump-and-dump schemes has been significantly squeezed. Institutions want cheap hedging and settlement, not a rollercoaster ride.
Looking back, the way institutions play has indeed changed this cycle. Before, they rushed in to buy coins and pump prices; now they first get licenses, provide custody, issue stablecoins, and lay the foundation inch by inch. No price movement doesn't mean no work is being done; on the contrary, the silent money might be more solid than the hype.
What's more intriguing is this coexistence of winter and summer, which is the biggest difference between this cycle and the last. Last cycle, price and organizations went crazy together, slogans were shouted loudly; this cycle, organizations are quietly working while prices are slowly recovering. BlackRock is buying, banks are issuing licenses, traditional money is building pipelines, but retail investors on the other side of the screen still see more red than green in their accounts.
So here’s the question. Once the roads are built, the cars will naturally run, or maybe the builders never intended to let retail investors get on board. Is this an opportunity, or a bigger gap?Gold options are being snapped up wildly—will Bitcoin follow?
Gold recently broke through $4500 per ounce, hitting a historic high, which we all know. But the really interesting action is happening in the options market. Goldman Sachs pointed out in their latest report that the trading volume of gold call options is rapidly expanding, creating a mechanism that amplifies gold price volatility in both directions. Simply put, a group of big players is aggressively buying contracts betting on gold’s continued rise, and this buying frenzy itself makes gold’s price swings more intense.
Goldman Sachs still sets a year-end target of $4900 per ounce, but their report takes a turn, saying this target now faces clear upside risk, while gold’s two-way volatility is greater than before. Maintaining a bullish outlook while warning of increased volatility shows there are heavy bets on the table. The options market is always where smart money moves first; by the time retail investors catch on, prices have often already moved significantly.
Why should crypto folks pay attention? Because this round of gold and Bitcoin moves are very similar. In the past two weeks, gold hit new highs and Bitcoin surged past $79,000, driven by the same forces: a weakening dollar, a doubling of U.S. Treasury repo volumes, and fluctuating expectations about Fed policy. Money is flowing back and forth between safe-haven assets and crypto, and the logic is consistent.
So when the gold options market signals a volatility ignition, it’s also a heads-up for Bitcoin traders. Options players are betting on wild swings, not a gentle one-way rally. This means that whichever direction prices move next, the magnitude could be more extreme than usual.
Even more interestingly, traditional institutions still skeptical about Bitcoin often prefer to express their distrust of inflation and the dollar through gold first. The frenzy in gold options is, to some extent, the same group of funds hedging the same anxiety in a different way. Bitcoin’s rally is lively, but don’t think we’re the only ones betting.
What to watch next is whether this options-driven volatility spills over. If gold continues to be pushed up by options money, Bitcoin might not lag; but if the volatility amplifier reverses, the pullback could be more painful than expected. Can your position handle swings of this magnitude? #黄金突破4600美元，债券避险地位受挑战 Oil prices quietly jumped 15 points over the weekend when the market was closed, leaving positions exposed
First, let's talk about a seemingly minor but quite painful data point. During the week of March 6 this year, oil prices were repriced by 15.8% over the weekend, while the traditional benchmark markets were completely closed. Your open position was repriced within two days, but you didn't even have a place to place orders.
This is not a joke; it's a direct quote from a research report just released by the Hyperliquid Policy Center. The report is quite smart—it didn't rely on flashy models but instead took advantage of a natural experimental condition: traditional markets close on weekends, but perpetual contracts run 24/7. They took 205 Bitcoin weekend trades plus 19 on-chain oil perpetual weekend samples for comparison, fully breaking down costs and liquidity on both sides.
There are two conclusions, both directly related to our real money.
First, look at the cost of rolling positions. Futures expiring have an unavoidable problem: you must roll positions when the calendar hits. The report gives an example: rolling a $10 million exposure on Monday costs about $950,000; doing the same on Friday costs only about $110,000. The same position in the same market, but the timing difference causes nearly an 8-fold cost difference. Perpetuals don't have this forced action—you can hold as long as you want, paying funding fees instead.
Next, consider protection during the gap period, which is even harsher. That same weekend of March 6, if you rely solely on the benchmark market for hedging, a $10 million position would suffer about $1.58 million in losses because you simply had no chance to act. But if that exposure was in on-chain perpetuals, after accounting for all costs, losses were reduced to around $62,000. The difference of over a million is not due to better trading skills but purely whether there was a market still open.
Of course, there is a cost. On-chain oil perpetuals have a median single trade size of only about $1,300 during non-trading hours, roughly 1% of the benchmark WTI. This liquidity is enough for small-scale hedging, but if you try to push large orders, you have to consider slippage yourself.
The most interesting part of this report is that it also refutes a long-standing claim. In recent years, some have said perpetual contracts are draining liquidity from formal futures markets, claiming speculative tools are eating away price discovery. The report combed through the data and found no statistically significant evidence of harm; the two are complementary, not zero-sum.
What does this mean for your own positions? Simply put, during that weekend gap, do you have a place where you can act? Crypto markets never close, which many see as a downside, fearing liquidation at any hour. But from another perspective, during extreme back-to-back moves like on August 19, those who can adjust positions anytime and those who can only watch have completely different account curves in the end.
Going further into swing trading: short-term, the funding fee on perpetuals is your holding cost; when the rate hits the exchange cap, chasing costs are much higher than expected. Mid- to long-term, the real value isn't leverage multiples but the ability to enter and exit anytime. The former decides whether you profit this week; the latter decides if you survive to the next wave.
So, a question: when the market was wildly jumping last weekend, were you actively trading on your phone, or just watching helplessly as the screen flipped from green to red and back to green?The institution supporting the new constitution suddenly pressed the brakes on the deflation vote
A publicly listed treasury company specializing in hoarding SOL voted one in favor and two against on the top three governance proposals of Solana. They supported the new constitution but opposed accelerating inflation reduction and opposed changing transaction fees to a variable rate.
You might be a bit surprised by this. Isn't a coin-hoarding company supposed to want the coins they hold to become scarce? The fewer issued, the better for them, so why are they the ones stepping on the brakes?
This company is called Solana Company, ticker HSDT on the US stock market. Their public stance is clear: support SGP-0001, which is the Solana Constitution; oppose SGP-0002, which doubles the speed of inflation reduction; and oppose SGP-0003, which changes transaction fees from fixed to variable. On-chain voting is expected to start on August 22, which is today.
Let's translate these terms into plain language. Inflation here refers to how many new SOL tokens the network issues annually to stakers. Doubling the reduction speed means new coins are issued more slowly, effectively creating scarcity. Changing fees from fixed to variable means that during network congestion, the transaction fee you pay will fluctuate with demand. The constitution is a written set of rules allowing every staker to vote themselves and to overturn the choices made by the operator they delegated to at any time.
The interesting part is their reasoning. The company emphasizes that they are not against the direction but the timing. Their original statement roughly means that this is a critical stage for institutions considering entering Solana. Institutions value rule stability and predictability the most. Changing two core economic parameters—inflation rate and fees—at this crucial moment will only make potential investors hesitate more. They also left a note saying that once they see sustained net inflows of funds into SOL, they are willing to reconsider reducing inflation.
This is the contradiction I find most worth highlighting. On one side, making the coin scarce; on the other, reassuring institutions. A company hoarding a large amount of SOL actually chose the latter. Translated, it means they have a scale in their mind: whether new money comes in matters more to the price than issuing fewer coins on the supply side. I agree with this judgment. In the past two years, chains that told stories based on reducing issuance still saw their coin prices fall; the few real price rallies were backed by actual buyers spending real money.
Looking at the market impact, in the short term, this is event-driven. Once the voting window opens, staking yield expectations will fluctuate, likely amplifying SOL's volatility. But this binary outcome is hard to predict, and betting on whether it passes or not is not cost-effective. It's more practical to reduce leverage slightly around the event.
In the mid to long term, the real focus should be on the flow of funds. Whether institutional money continues to flow in will determine the chain's value more than the governance vote results.
One more detail not to miss: the new constitution grants stakers the right to overturn the votes of their delegates, effectively decentralizing the key that was previously monopolized by large nodes. We've seen many cases in the past two years where DAO governance was criticized as fake democracy, with votes concentrated in a few hands. Whether this time something truly different will be voted on will be revealed when voting opens today.
So, what do you think about this coin-hoarding company's choice: is scarcity more important, or is attracting new money more important? It's often said that stablecoin remittances are cheap, but no one talks about the truly expensive part.
The idea that stablecoin cross-border transfers are cheaper might actually be misunderstood.
Jonah Burian, an investor at Blockchain Capital, wrote a rather blunt article dissecting this narrative. His point is simple: if the receiving end already wants stablecoins, then on-chain transfers are indeed almost zero cost, available 24/7, and settle in seconds—no complaints there. But the real headache is when both ends require fiat currency, for example, sending USD from one side and receiving Mexican Pesos on the other.
Let's first look at the oldest route. Suppose Alice in the U.S. wants to send money to Bob in Mexico, and neither bank has branches in the other's country. The money must go through a larger correspondent bank, which then connects to the local Mexican bank. The money is deducted from Alice's account, the correspondent bank converts it to Pesos at their exchange rate, taking a margin on the spread, and the local bank may charge another fee upon receipt. All parties communicate via SWIFT, which itself costs money to send messages. According to World Bank data, the average cost for consumer remittances through banks—including fees and exchange rate spreads—is close to 15%, and it usually takes 1 to 5 business days.
Next is a segment many people subconsciously overlook. In 2011, two friends in London faced opposite problems: one earned Euros but lived in the UK spending Pounds, the other earned Pounds but had to repay a Euro mortgage in Estonia. They bypassed banks entirely by paying each other locally, so no money actually crossed borders. This grassroots method later evolved into Wise. The model pairs opposite currency needs so that what looks like a cross-border transfer is actually money moving from one local pocket to another. Wise's all-in cross-border fee has been squeezed to about 0.5%, with the latest quarter still at 0.50%, while the World Bank's average for pure remittance providers is 3.5%.
Understanding these two routes clarifies stablecoin's role. The popular method now is the "stablecoin sandwich": convert fiat to stablecoin, transfer on-chain, then convert back to local fiat. The on-chain transfer cost in the middle is less than a cent, and with competition among fiat-to-stablecoin gateways, that step's cost is approaching zero. The problem lies in the last step: Bob wants Pesos, not USDC, so he must find a local off-ramp to convert, and in some markets, the USD-to-local currency spread remains painfully wide.
So the truth is this: blockchain slashes the middle transfer cost to rock bottom, but the currency exchange costs at both ends remain unchanged. The savings you think you get are likely just shifted from one step to another.
What exactly has stablecoin changed then? The author’s answer is more interesting than just saving money. Building a global payment network like Wise is extremely difficult and only a few companies can do it. Stablecoins break down this barrier: if you want to start a cross-border payment company, you no longer need to build a global banking network from scratch. You just need a good on-ramp on one side and a good off-ramp on the other, connected by blockchain. The capabilities once bundled in closed networks are now modularized and thrown into an open market, where local off-ramps compete fiercely on every conversion. Yellow Card, focusing on several African countries, is an example of this approach.
Fragmentation sounds like a disadvantage, but it actually puts players into the game. The author also acknowledges the opposing view: as more platforms emerge, the largest ones are starting vertical integration again, and the market could reconsolidate in the future. But he agrees with one point: open rails remain open, and if one off-ramp tries to take too much margin, another nearby can always offer a better price.
Bringing this back to our holdings: this kind of research cools down the payment narrative. Payment tokens that spike on any news are prone to one-day rallies, with asymmetric costs and risks for chasing highs. In the medium to long term, the real winners are likely those holding on-ramp and off-ramp licenses and local channels, not the loudest voices. Watching this sector, focus should be on channels and fees, not announcements.
The last time you sent money abroad, what really ate your cost—was it the fees, or the exchange spread you never even saw?Live trading at @玩的就是实盘 九总
Let's talk about US stocks
On Friday, the three major indexes all closed higher. The Dow rose 0.98% to 53,277 points, the S&P 500 increased 0.43% to 7,674 points, and the Nasdaq gained 0.44% to 26,180 points. However, looking at the whole week, all three indexes closed lower on the weekly chart.
The US August services PMI rose to 56.8, marking the strongest expansion since December 2024. But the 10-year US Treasury yield remains high at 4.736%, and the 30-year yield surged to 5.275%. The Treasury's repurchase move only held for one day, and long-term bond yields have returned.
But the AI hardware sector shows a completely different picture. Storage stocks rebounded across the board—SK Hynix up 4.43%, Micron up 3.97%, SanDisk up 2.02%. Optical communications also strengthened simultaneously, with Lumentum up 6.24%, and Marvell Technology up 5.79%. Capital is still selectively buying, not fully withdrawing.
The core contradiction remains—the US Treasury yields won't come down, so high-valuation tech stocks are struggling to breathe. Storage and optical communications rise, the seven giants fall, each moving independently within the same market. My position here is not heavy; I'll first see when the US Treasury yields can stabilize.
Personal opinion, not investment advice This obscure path discovered by Vitalik might replace the lock on your wallet
Last night, Vitalik posted another long article with a rather discouraging title: "Obfuscation Part 3: Local Mixing." In Chinese, it translates to "local mixing." He said something quite significant in it: this could become a new foundational cryptographic tool following elliptic curves, RSA, and lattice cryptography.
First, let me explain why this statement is important. The private key in your wallet currently relies on elliptic curve mathematics. It is the foundation of everyone's assets. There are only a few foundational tools like this, and Vitalik suggests there might be one more. This is no small matter.
So what exactly does obfuscation do? Simply put, it scrambles a program into a form that no one can understand, but its functionality remains unchanged. It's like giving someone a recipe to cook a dish; the dish they make tastes exactly the same as yours, but they can't tell what ingredients were used by looking at the recipe. This ability sounds mystical but has enormous practical uses: on-chain private computation, key custody, anti-plagiarism contracts, and more. In cryptography circles, it's called the final frontier because theoretically, all other tools can be constructed by combining obfuscation with a one-way function.
The problem is that it has always been prohibitively expensive. Current mainstream obfuscation schemes rely on complex mathematical assumptions, and the computational cost is so high that no one dares to use them in real products. They work in academic papers but are impractical in reality.
Local mixing takes a completely different approach. It doesn't rely on elliptic curves, large integer factorization, or lattice cryptography. Instead, it borrows from symmetric cryptography and hash functions—basically repeatedly scrambling, shredding, and reassembling data. The specific steps have intimidating names: invertibility, hardening, mixing, splitting, cross-moving, and something called componentization. Simply put, it inserts random structures into circuits, rearranges logic gates, and adds a layer of nonlinear masking so that anyone peeking in cannot reconstruct the original computation logic. The functionality remains the same, but leakage is zero.
Vitalik himself hasn't overhyped it. He clearly states this path is still very early, its security hasn't been verified over the long term, and traditional attacks like random and linear analysis still pose threats. This field will require years of cryptanalysis and optimization to mature. However, he added an interesting note that AI-assisted research might significantly accelerate this process.
What if it really works? The most direct outcome would be a new quantum-resistant public-key encryption scheme. That means even if quantum computers are truly built someday, they still won't be able to break the lock on your wallet. We panic about this every few months when some big company announces a chip, and people in groups immediately shout that private keys are doomed and coins will be worthless. This time is different because someone is actually building a new lock with real effort, not just arguing on Twitter.
Looking at it from a position perspective: in the short term, don't expect this news to bring any immediate gains to ETH. It often takes years for public chain research to move from papers to mainnet, so expecting it to be a catalyst is wishful thinking. Chasing such news is a bad bet. But in the mid to long term, the significance is completely different. Ethereum's valuation always includes a premium for those still working on foundational technology. A chain where people are pondering cryptography ten years from now is naturally worth more than one where people only focus on next week's slogans.
One more personal opinion: in the past two years, the market has focused all attention on who is rising fastest. The things that truly affect whether our wallets can be safely stored for ten years are often so quiet that no one shares them. If you remember only one sentence today, remember this: the lock behind your private key is not eternal; someone is already replacing it in advance.
So one question: when quantum computers really arrive, where do you plan to store your coins? After the flash crash, the sideways movement without a rebound shows a clear lack of bullish confidence.
On Friday's closing, $BTC plunged sharply from $79,500 to $76,200, dropping over 4% within 20 minutes, causing severe liquidations of long positions across the network. The key point is that after the drop, it failed to recover and has been hovering around $77,000, with buying interest absent — this is not a shakeout, but a break in support.
The previous rapid rise from $59,500 to $79,500 was mainly driven by short covering and passive ETF inflows, not by strong buying from major players. Once the liquidation wave ended and ETF inflows slowed, the market lost its upward momentum; after the spike, no one stepped in to buy, indicating that the buy orders below have been cleared out.
With market makers absent over the weekend, liquidity is at its worst, so expecting a V-shaped recovery is unrealistic; a weak consolidation and slow rotation are more likely. The daily RSI remains above 70, indicating overbought conditions have not been fully released.
Strategically, don't rush to catch the falling knife. Wait for a stable pullback in the $74,500-$75,000 range or a volume-backed recovery above $78,000 before considering action. If the hourly candle fails to close above $77,000, the next target is $72,000. Trump's harshest sanctions just came out, Iran already says they're useless
In the early hours of August 22, the foreign ministers of Oman and Iran sat at the same table to discuss the same issue: how to use negotiations to ensure the safe passage of ships through the Strait of Hormuz again. Just a few hours before this news broke, Iranian Foreign Minister Araghchi dropped a harsh remark on social media.
He wasn’t talking about negotiation but rather a retort. In response to Trump's recent announcement of the so-called "most devastating economic action ever taken against a country," Araghchi’s exact words were: We've seen this act before, the same lies, just a different set of bullies, destined to fail. He also went through the rounds of pressure the U.S. has applied over the past fourteen years, eight years, and five months, concluding none succeeded. The White House wants to strike hard, Tehran publicly says your move is useless, with Oman quietly mediating in between.
This scene looks like two people shouting insults from a distance while each sends intermediaries to negotiate terms. What’s really worth our attention is the unspoken keyword behind this war of words: Hormuz.
The narrowest part of this strait is less than forty kilometers wide, yet it handles about one-fifth of the world’s oil maritime transport. Usually, people think it’s far from their positions, but if a few fewer ships pass through, the risk premium on crude oil immediately spikes. When oil prices jitter, inflation expectations follow suit, and the Federal Reserve’s rate cut plans have to be recalculated. For Bitcoin, a risk asset most sensitive to liquidity, every negotiation in the Middle East can ultimately show up as a daily candlestick in our own accounts.
That’s why every time something happens in the Middle East, veteran traders’ first reaction isn’t to check charts but to refresh news feeds. Geopolitical risk never plays by technical analysis rules.
Don’t forget the market has memory. In past years, whenever Iran and the West clashed near Hormuz, crude oil would jump first, risk assets would suffer, and only after negotiation news landed would things slowly recover. This time is different: Bitcoin just surged from over 70,000 to nearly 80,000, sentiment is hot, and any external black swan could be the stone that suppresses this momentum.
So don’t just scroll past this as a simple headline. While we watch on-chain data and ETF net inflows, we should also keep an eye on those negotiation tables no one is really watching. One side announces it will strike hard, the other says you can’t hold us down, yet ships still pass through that narrow waterway.
The question now is, both sides say the other has no chance, but if even fewer ships pass through the strait, do you think Bitcoin will first follow risk-off sentiment or liquidity?#美国PMI创四年新高，9月加息分歧升温
S&P Global announced on August 21 that the preliminary US composite PMI for August was 56.0, the highest since April 2022, far exceeding the expected 54. The services PMI was 56.8, the highest in nearly 20 months; the manufacturing PMI was 53.2, a five-month low. Price pressures have eased somewhat, with the services sector sales price growth rate hitting a ten-month low; the employment composite index recorded the largest increase since January 2025; backlogs grew at the fastest pace since May 2022. S&P Global expects the annualized GDP growth rate for Q3 to be close to 3%, double the 1.5% in Q2.
The market reaction was very honest—after the Treasury's repurchase announcement pushed down the 30-year US Treasury yield, it quickly rebounded 6 basis points to 5.25%, the S&P 500 fell 0.87%, and the Nasdaq dropped 1%.
The services sector is saying "the economy is strong," while manufacturing is saying "the supply chain is breaking." Before the September FOMC, there is still a CPI report and an employment report; the PMI is just the first piece of the puzzle. S&P Global Chief Economist Williamson put it most directly: "The US economy is booming," but this precisely makes the Fed's path more difficult—cutting rates too slowly may cause overheating and reignite inflation; cutting too quickly may fuel asset bubbles. For September, this data gives no clear direction. CME data shows a rate hike probability of about 36.2% and a hold probability of 63.8%—the market itself is wavering. The signal for a September rate hike is "complex" rather than a "clear answer." People who want to earn attention rewards first have to give up their privacy.
On August 18, Kaito AI quietly launched a browser extension called Kaito Pulse. Once installed, under every tweet you see on X, it might directly display the other party's real positions and profits/losses on Polymarket and Hyperliquid. In other words, from now on, who publicly claims to be long and who secretly shorts can be seen at a glance by visiting their homepage. Social platforms and on-chain behavior are stitched together.
Behind this is a new scoring system called Aura, designed to replace the original Yaps. Previously, Kaito mainly counted who was discussing the most actively, but a bunch of accounts mass-produced content to flood the leaderboard, making it increasingly unreliable. So this time, they said they want to measure whether the discussion value is trustworthy by combining social influence and on-chain behavior into the scoring. The first project after the reboot, Axis Robotics, reignited the reward model for creators and community contributors.
It sounds great—the platform wants to help us distinguish real experts from bots. But the problem lies in the permissions the extension requires.
After community developer Ultra examined the extension's code, they found it wants far more than just displaying positions. Device fingerprints like GPU rendering info and hardware model might be collected; your browsing path and dwell time on X are also tracked, and even third-party accounts from ChatGPT and trading platforms require verification. This is quite different from the official claim of only viewing public trading records.
Kaito's later response was standard rhetoric: following the principle of minimization, not accessing full account content, not storing raw data, using zkTLS proofs for external verification instead of reading underlying data, and promising to optimize permission explanations. But a browser extension that can access your hardware fingerprint and browsing history inherently raises concerns about permission boundaries. After all, once you grant permissions to something installed in your browser, you can't take them back.
The community is already divided into two camps. Supporters say identity and behavior verification is a necessary cost to suppress fake influence. Opponents ask why we have to give up privacy just for more accurate scoring. This issue hits the unresolved core of the InfoFi track: the more AI-generated content and bots there are, the more platforms have to reach out for data to identify real influence.
And what about us users? How much privacy are we willing to give up for those incentive points? Will you install this extension, or would you rather earn fewer rewards than expose your browsing history and hardware fingerprint to others? Ultimately, monetizing attention is fine, but you have to do the math yourself.The whale made a profit of seventy million but missed out on the strongest rebound in this round
There’s an interesting detail tonight. A whale, codenamed for setting 10 major goals, reviewed this round of operations on X, saying that there’s still about 70 million profit lying in his account, but then he admitted that he actually missed out on the strongest surge in this round.
Here’s what happened. Around 72,500, he wanted to buy back the long positions he had closed earlier, so he placed limit buy orders between 70,500 and 71,500 in advance, and at the same time placed a short order near 76,000, planning to catch a pullback if the price surged directly. However, the buy orders below didn’t get filled, but the short order at 76,000 did, and then the price shot up above 79,000, completely leaving him behind.
That short order at 76,000 itself lost money, but overall he still made 70 million. The key is that the profits that should have been taken earlier were already secured; what he missed was just the rebound part, not a full-position wrong bet. Many people lose because they do the opposite: they misread the direction and add positions to average down, turning a small mistake into a big hole. This guy made profits steadily, admitted mistakes, and always kept the rhythm in his own hands.
He even set a hard deadline for himself: if the daily candle closes effectively above 80,500, he will admit the mistake, close all positions, and take a break. Setting a fixed line for admitting mistakes is much more useful than guessing tops and bottoms every day. Many of us do the opposite: play dead when losing, and hesitate to exit when prices rise.
Looking back at his own summary, the mistake wasn’t in the mid-to-long-term direction but in underestimating the strength of this rally and trying to bet on a pullback too early. On the market side, the short squeeze starting August 19th cleared over two billion dollars in shorts, ranking among the largest single-day short liquidations in crypto history. Even whales of this level placed orders in advance waiting for a pullback, showing that the market’s expectation for a correction never stopped, but the price just didn’t turn back.
For swing traders, this is a reminder. When a trend comes, don’t fight your own position. When the moving average, which is basically the average cost line, is still going up, making counter-trend trades only wins small money but loses rhythm and mindset. If you really want to wait for a pullback, wait until the structure breaks down, not just place an order based on a feeling.
Finally, this guy said he still remains bullish mid-to-long term, even thinking we could see 100,000 by March next year. But at this position, he will admit mistakes and close positions if he’s wrong, or add back shorts if he can’t hold the ground. How about you? Did you take full profit this round or are you still waiting for that pullback that never came? Bitcoin dropped 20%, but RWA defied the trend to reach $33 billion
There is a rather unusual figure in the first half of this year. Bitcoin as a whole fell by more than 20%, with the Federal Reserve turning hawkish combined with geopolitical conflicts, putting pressure on the entire market. Yet in this environment, RWA, or Real World Assets on-chain, grew against the trend to a scale of $33 billion, becoming one of the few sectors still expanding.
Where did the money go? Part of it was absorbed by the AI infrastructure financing frenzy; tech companies have issued over $170 billion in bonds this year, competing with governments for long-term funds. Another part didn’t go far but took a turn into RWA. Simply put, institutions don’t want to directly bet on coin price volatility but are willing to move traditional assets like government bonds and bonds onto the blockchain to earn stable interest and compliance benefits.
What does this mean for us? The rise of RWA doesn’t mean Bitcoin will take off tomorrow, but it indicates one thing: the blockchain is no longer just speculative capital; real institutions are voting with their feet and moving in. This capital migration often has more reference value than a single bullish candle because it represents medium- to long-term allocation intentions, not hot money chasing pumps and dumps.
Why now? As the US regulatory framework gradually clarifies, tokenizing interest-bearing assets like US Treasuries and funds allows institutions to have compliant identities and benefit from on-chain efficiency. Compared to directly buying coins and enduring severe volatility, this slow money better suits large capital appetites, so even if Bitcoin is falling, RWA still attracts funds.
A concrete example: after tokenizing US Treasuries, interest-bearing assets can be traded on-chain 24/7, something traditional brokers can’t offer. That’s why traditional giants like BlackRock are quietly deploying along this line. In the short term, RWA’s market still strongly correlates with Bitcoin; when Bitcoin pulls back, RWA will be dragged down too.
However, RWA is not without pitfalls. Smart contracts have had incidents, and choosing the wrong protocol can still lead to total loss. No matter how fancy the name, you can’t blindly jump in. But the long-term logic is clear: when government bonds and funds can circulate on-chain, crypto gains a tether to traditional finance, potentially smoothing out bull and bear volatility over time.
At this point, I treat it as an observation indicator rather than a buy-the-rally target. Which line do you favor more: waiting for coin prices to warm up, or believing that slow money like RWA is the next main theme? Is the altcoin season really coming now that Bitcoin has broken 77,000?
Bitcoin surged past 77,000 this Monday, and Ether jumped 20% in a single day. People in the group chat are already shouting about altcoin season. Every time Bitcoin sets the stage, funds are supposed to flow into altcoins. We've seen this script play out several times. Has your account recovered this week, or is it still stuck at the doorstep of altcoins?
But this time it's a bit different. The eight altcoins mentioned in the article—SOL, UNI, AAVE, HYPE among them—each have different logics. SOL relies on institutional treasuries and on-chain activity, AAVE benefits from a rebound in lending demand, HYPE is a platform token with built-in traffic, and UNI is an established DEX regaining presence through market maker competition. Not just any random altcoin can fly along.
Another signal worth watching is that Ether's spot ETF has seen continuous net inflows, and staking volumes have hit new highs. This kind of fundamental demand is more solid than just a pump. Bitcoin sets the stage, Ether plays the lead, and altcoins can more easily follow the rhythm; pure sentiment alone can't sustain it.
What we should be most cautious about is this kind of atmosphere. Bitcoin just stabilized, and everyone is afraid of missing out, so those rushing in are mostly emotional traders who missed out before. Historically, when altcoin season truly arrives, it often starts to pull back right after you can't resist chasing the highs. The ones who make money are always those who got in early.
For us, the approach needs to be split. In the short term, altcoins are several times more volatile than Bitcoin; holding a heavier position can keep you up at night. If you really want to participate, use a small amount to test the waters—like keeping altcoin positions to 10-20% of your total portfolio. Losing that won't affect your mindset, and gaining won't make you envious. In the mid-term, coins with real revenue and users can endure cycles better than pure narrative-driven memes; when prices drop, there are still buyers.
As for pure memes, they rise fast and crash fast. The more gimmicky the name, the more you need to control your impulse. Those are about running fast, not holding steady. A truly stable altcoin season requires seeing funds continuously moving from Bitcoin to small and mid-cap coins, not everyone getting hyped over a single green candle. Right now, it feels more like a warm-up.
Don't forget, this rally is largely because shorts were forced to liquidate over $2 billion, cleaning out leverage and creating room for what's next. But if funding rates spike back to exchange limits, that's a sign of overcrowding. Don't mistake this warm-up for the main upward wave. Are you holding mostly Bitcoin and Ether now, or have you already positioned in some altcoins ahead of this seasonal wind?Bitcoin broke through 70,000, but those in the prediction markets are still betting it will fall back to 55,000
This rebound has been stronger than many expected. A few days ago, Bitcoin was still around 71,500, with a single-day increase of 3.26%. In no time, it pushed all the way close to 80,000, marking the strongest surge in five months. Yet, while the price was crazily climbing, a group of people stubbornly bet it would drop back to 55,000.
I checked data from several mainstream prediction markets, and the more I looked, the more interesting it became. A few days ago on Myriad, about 70% of bets were that Bitcoin would first fall to 55,000. When the rebound actually came, the bulls and bears barely balanced out at 52% to 48%, almost like flipping a coin. Polymarket was even more absurd; the year-end contract still gave a 56% probability that Bitcoin would first touch 55,000. On Kalshi, traders gave only a 30% chance of breaking 70,000 by August, but that threshold has already been trampled underfoot.
Putting these numbers together paints a clear picture. The price has genuinely surged, but the mindset of those betting still lingers in a bear market. They haven’t ignored the rise; they’re just scared by the previous drop, their muscle memory stuck at the 55,000 line. Even professional traders are hesitating, let alone ordinary retail investors.
The most ironic thing is the trading volume. More and more people are using prediction markets to hedge their real positions, and these platforms are repeatedly hitting record highs in trading volume. This means that the odds reversal on Myriad wasn’t so much about who predicted correctly, but more about who was caught off guard. The people actually in the market were the last to react.
The main pressure is on short-term positions; the year-end contracts have barely moved. Myriad doesn’t have a real expiration date; it settles only when spot hits 84,000 or 55,000. Shorts are being squeezed in the short term, but no one dares to follow in the long term. This split itself indicates the problem. The real-time bullish probability is only about 52%; no one has the guts to truly believe this rally will go all the way.
Looking back, the key level is quite clear. The lower edge of the resistance zone at 70,284 USD: holding it opens the way to above 73,000, losing it means falling back below 68,000, the old range that trapped it for months. This range looks familiar; it appeared as a narrowing wedge before the crashes in October 2025 and January 2026. Now the price has risen above it, but the sentiment in prediction markets is at best cautiously optimistic.
Do you think those betting on 55,000 really see risks that retail investors don’t, or are they simply too scared by the last drop to turn bullish?Dalio Changes Tune, Advises Ordinary People to Stock Up on Gold and Bitcoin
Ray Dalio, founder of Bridgewater Associates, has recently sounded the alarm again. This isn’t the first time he’s warned of a crisis, but this time he was unusually blunt: the US debt crisis is approaching, and ordinary people need to prepare a fallback plan, which is to hold more gold and Bitcoin.
Hearing this from a traditional macro veteran like Dalio feels a bit strange. He’s managed money for decades and has mostly been indifferent to crypto assets, at best politely saying Bitcoin is like a younger version of gold. Now he directly equates Bitcoin with gold as shields for ordinary people against a debt crisis, a pivot that’s worth pondering.
His core concern is the ever-growing US debt. Jin10 just reported that the US national debt has surpassed $40 trillion. Trump himself responded by saying growth will solve it and denied having Treasury Secretary Mnuchin intervene in the debt market. But the market thinks otherwise; long-term bond yields remain high, and everyone is guessing who will take over the next tranche.
Dalio’s logic isn’t complicated. When the government fills holes by printing money and borrowing, those holding cash suffer the most, so he categorizes both gold and Bitcoin as stores of value. Gold has already hit historic highs this round, and he’s always been a staunch supporter of gold; now by including Bitcoin, he’s essentially acknowledging that it can also serve as a safe haven in extreme situations. In other words, the more money is printed, the less he trusts paper wealth.
Bitcoin has conveniently played into his script this week. Riding the wave of US debt repurchases and favorable policies, Bitcoin surged back near $80,000, rising nearly 25% in a single week. Bulls say this is exactly the kind of currency depreciation expectation Dalio fears coming into play.
Interestingly, different people respond differently to US debt concerns. Some increase holdings in gold ETFs, some list Bitcoin as cash equivalents in corporate financial reports, and others quietly move money from US tech stocks back into crypto. Dalio is just the one who’s broken the silence.
That said, when a big name urges people to stock up on crypto, we have to weigh whether he’s genuinely worried about ordinary people or just looking for an audience for his favored direction. After all, Bridgewater’s own positions aren’t transparent to outsiders when he says this. When everyone talks about hedging risks, whether those risks have already been priced in is something no one can say for sure.$SNDK: Trapped in a prolonged downtrend loop, missing out on this round of liquidity dividends
So far, $SNDK's historical maximum drawdown has breached the extreme 99% threshold. The unlocking window continues to release selling pressure, and the market shows no signs of marginal decline in selling pressure; the downward momentum shows no obvious signs of exhaustion.
In contrast, tokens like BICO, BEAT, ALLO, KAITO, and $APR have precisely capitalized on this round of liquidity easing dividends. Riding the wave of improved market risk appetite, they have entered a highly elastic structural recovery phase. Some tokens have doubled in just half a month, with many coins consecutively breaking through previous key resistance levels, while capital enthusiasm and trading activity continue to rise.
Only $SNDK remains trapped in a downtrend loop, continuously weakening. It has neither leveraged the industry narrative of AI storage and enterprise-grade flash demand surges to break the deadlock, nor has it seen substantial ecological benefits materialize to reverse expectations, thus continuously underperforming the broader market during this widespread rally.
#Gold breaks through $4600, challenging bonds' safe-haven status Bitcoin has dropped more than 20% in half a year, yet funds are flowing into this sector
The first half of the year is almost over, and looking back, Bitcoin hasn’t had a good six months. ArkStream Capital’s latest review laid out the data: Bitcoin fell over 20% in the first half of 2026, driven by the Federal Reserve turning hawkish again, combined with repeated geopolitical tensions between the US and Iran, which crushed many high-leverage positions to the floor.
But amid this gloom, one sector quietly attracted large amounts of money. They mentioned that Real World Asset tokenization, or RWA, has grown counter to the trend to $33 billion. The more the market panics, the more funds seek refuge in assets backed by physical or cash flow, completely different from the frenzy of meme coins and chasing dog tokens in the past two years.
Breaking it down makes it clearer. This $33 billion isn’t retail gambling money; it’s stablecoins, tokenized government bonds, and private credit—assets with real underlying value. Products like BlackRock’s government bond offerings, Ondo’s on-chain bonds, and Maple’s on-chain lending have quietly been attracting capital over the past six months. This is completely different from the 2021 altcoin pump driven purely by sentiment; RWA has institutions generating real monthly yields behind it. Simply put, big money isn’t after hype, but certainty about where the money is going.
What’s even more interesting is the source of the money. In the first half, AI tech stocks almost drained all the risk capital in the market, with Nvidia and OpenAI-related capital frenzy grabbing the same batch of venture funds. But recently, this siphoning has loosened, and some money is flowing back from the AI narrative into crypto, with RWA becoming the main recipient. Players haven’t left the market; they’ve just moved to a more stable table.
Previously, we always watched BTC and ETH for rebounds, but now the capital migration path has changed. Those who keep shouting about an altcoin season might have missed that the real new inflows aren’t in dog tokens but in a seemingly boring sector.
Of course, some doubt how much of this $33 billion is real demand and how much is just old stories repackaged with a new narrative. After such a big drop in the first half, institutions say they’re in for the long term, but their actions are honest—this split itself shows the market hasn’t truly reached consensus.
So here’s the question for you: if this recovery is really led by RWA, are those scared by the drop in the past six months hedging or missing out? Do you think this $33 billion is smart money positioning early, or just another well-packaged narrative?Bitcoin has firmly stood at 78,000 again, and those who haven't gotten on board are starting to panic.
The first thing I did this morning was check the market on my phone. The moment the screen lit up, the number 78,000 hit me right in the eyes. Bitcoin has stood back at 78,000, and this is yet another move in this rally from the lows that has left many behind.
To be honest, I myself haven't fully settled this week. The previous wave pulled from just over 60,000 all the way to 79,000, with almost no decent pullbacks in between. Many people, like me, got used to reducing positions on rallies during the bear market, but ended up getting lighter and lighter, and by the time we realized it, the price was already overhead. Missing out like this is even more frustrating than being stuck in a losing position; at least with losses you can comfort yourself with long-term holding, but missing out means watching your account barely recover.
There are actually clues behind the market moves. This rally isn't driven by retail investors rushing in, but by institutions putting real money on the table. In recent days, BlackRock's spot ETF has seen continuous net inflows, with several hundred million dollars pouring in daily. Plus, the previous short squeeze wiped out a large number of short positions in one go. That 8.19 short squeeze alone liquidated over two billion dollars in shorts, making it one of the biggest days in crypto history. Once the shorts were cleared, the price floated upward with little selling pressure to stop it.
Technically, Bitcoin standing back above 78,000 means the previous resistance zone from 75,000 to 78,000, once considered a ceiling, has now become a floor. The short-term average cost lines are turning upward, and ETH has also simultaneously reclaimed 2,500, improving the overall market sentiment significantly. Interestingly, this move isn't just about Bitcoin; retail investors in South Korea have clearly returned, with Upbit's daily trading volume recently doubling, and fresh money flowing in from outside.
But we need to stay calm and think. The faster the rise, the sharper the pullback tends to be. This rally has gone up with almost no shakeout, indicating a lot of floating profit inside. Once there's any disturbance, those leveraged longs who chased the rally will be the first to run. Funding rates are already high, and many are borrowing leverage to chase the price up. Crowded trades like this can be vulnerable to a sudden sharp drop that shakes people out.
Looking at the bigger picture, the fact that Bitcoin has reclaimed 78,000 means institutions are still slowly accumulating chips, and the long-term logic remains intact. But in the short term, the biggest risk of such a rapid rally is a big bearish candle that kills all the momentum from the chasing traders. My approach is to average down a bit if my position is heavy, and if light, not to go all in immediately. Consider adding only when the price pulls back to around the 75,000 average cost line. Keeping some dry powder feels more comfortable.
Did your account turn green this week, or did you perfectly miss that big bullish candle again?Two months ago, those who shouted that the rebound was over are now saying the bear market is finished.
Remember two months ago, many people in the circle were still shouting that this round of rebound was already over, and next would be a continued slow decline to find the bottom. Yi Lihua was one of the more outspoken in this camp at the time, publicly stating that the rebound would end in May, mainly focusing on July to August as the last bottom-fishing window, with cautious undertones.
So what happened? These days, he directly changed his tune on social media, saying that ever since BTC's daily chart strongly broke through the 120-day and 200-day moving averages, and the weekly chart stood above the 20-week moving average, the bear market trend has officially ended. Just after saying the rebound was over, he immediately announced the bull market is back—his turnaround is faster than the candlesticks.
He’s not just speaking casually. The reasons he gave sound solid: multiple moving average systems turning strong simultaneously is a signal of trend reversal in the eyes of technical analysts. He also said he remains bullish for the next two weeks, but after reaching a certain level, there will be a pullback, with the correction not exceeding half of the gains, reminding those using leverage to close some long positions first. That said, institutional ETF accumulation in Q2 is actually not low; big money was quietly positioning in Q1, which aligns with the signals he sees.
I just want to ask, when you told us two months ago to watch the last bottom-fishing window, why didn’t you say the bear market could end at any time? Were the moving averages not valid then but valid now? The market is still the same market; what’s really changed—the charts or people’s minds?
What’s more worth pondering is the contradiction in his words. On one hand, he says the bear market is over and remains bullish; on the other, he advises leveraged users to close long positions first. This shows he himself knows this rally is too sharp and could bite back at any time. Those who truly believe in a long-term bull market wouldn’t be in such a hurry to have short-term traders exit first.
Ultimately, this kind of public turnaround by a big player is itself a barometer of market sentiment. No one dares to shout bull in a bear market; when someone dares to shout it, the bottom is often already formed. But that doesn’t mean you have to follow him blindly. He’s looking at the monthly level, while you’re trading on daily heartbeats—mismatched cycles are the easiest way to lose money.
Looking at the bigger picture, what he says isn’t really contradictory. The long-term trend may indeed be turning, but the short-term sharp pullback after a spike is a real risk. Institutions and whales want the right position; we retail traders want the right rhythm. Even if the position is right, if the rhythm is wrong, you still lose. He said it’s going up but didn’t tell you to go all in; understanding the nuance in his words is more important than blindly trusting the conclusion.
What do you think? Has Yi Lihua’s turnaround spotted something we haven’t, or is he simply being proven wrong by the rally?RWA has surged to 33 billion, but no one clearly explains what it's really about
Just now, the group was buzzing about RWA again. Honestly, this thing has been really strong this year. Institutional data shows the on-chain total market cap has quietly climbed back above $33 billion, and holders have seen nearly a 60% increase in a month. With this momentum, it feels almost embarrassing not to talk about it if you're in crypto.
But as we talked, I noticed something strange. Everyone says RWA is the next big narrative, but when you ask what problem RWA actually solves, the group suddenly goes silent. Is it about putting government bonds on-chain? Is it about allowing retail investors to buy fractionalized US debt? Or is it just about giving a bunch of tokens a new skin?
I looked around at so-called RWA projects and found many just map real-world assets, hang a certificate on-chain, but actual clearing and ownership confirmation still happen offline in the old system. Simply put, the tokens are just barcodes. When a black swan event hits on a weekend, very few can hold up. This is completely different from what we think of as native on-chain assets.
Interestingly, despite Bitcoin dropping more than 20% this year, the Fed turning hawkish, and added geopolitical conflicts, RWA has actually grown counter-trend to 33 billion. Stablecoins make up the majority, and tokenized US debt is quietly expanding. This shows traditional money is looking for an outlet—they don't trust pure crypto assets but are willing to touch tokens with some real-world backing. This capital migration is an incremental gain short-term and a quiet takeover of on-chain by traditional finance long-term.
But let's pour some cold water. RWA fears regulation above all. In the US, stablecoin and tokenization rules are still in draft stages; even the CLARITY Act hasn't been finalized. It's still very early to have clarity. How many projects rushing in now will survive until the rules are clear? That's hard to say.
I think RWA isn't without opportunity, but that opportunity belongs to players with real asset custody and compliance capabilities, not to those of us who just hype a concept and leave. If you want to see real progress, watch who can truly move clearing and ownership confirmation on-chain, not just hang a name. The stablecoin sector has already been taken over by big institutions; there's little left for small retail players to ride on.
Don't be fooled by the current hype. The underlying asset yields of RWA actually follow US debt. Once the Fed really cuts rates, that interest spread advantage won't be so attractive. Then the story may remain, but the money might not. This is the same logic as us speculating on altcoins.
What do you think? Is this wave of RWA a real narrative or just another repackaged old story? Kaito relaunched the new plugin for the mouth-typing economy, but no one dares to install it
Kaito has picked up the mouth-typing economy again these days and released a new plugin, claiming it will allow creators' real influence to be verified by data. It sounds like a good thing; the platform finally wants to seriously address the issue of fake traffic.
But reality slapped us faster than expected. Once the plugin came out, the group was full of hesitation, and very few actually installed it. Why? Because installing this thing means handing over more data to the platform—browsing history, interaction trails, all must be submitted. The platform says it's to verify real influence, but users think, is my privacy being fed to models again?
This contrast is especially ironic. On one side, the project team shouts about rewarding real contributions; on the other, users fear their data will become someone else's nourishment. During the previous InfoFi round, many people worked hard to earn a bunch of points, only to find out that token distribution still depended on the project team's mood—what a waste of effort. Now that it's back, everyone has learned their lesson: verbally supportive but hands off.
More subtly, Kaito's logic essentially trades data for attention monetization. The platform needs more behavioral data to score influence, and users need the platform's traffic and tokens. But once data is handed over, the balance tips completely toward the project team. If the rules change one day, past contributions can just vanish. The KOLs who promote and lead orders in the circle are happy to take it since they can prove their real influence, but what about us ordinary players?
For those of us playing with memes and knockoffs, this new narrative tests our resolve the most. The prettier the story, the more you have to ask, why am I the one losing out? Back in the day, how many projects shouting decentralized and fair distribution actually delivered? The end of mouth-typing often means the project team drained your data, and you only got a handful of air.
To be blunt, the more such plugins emphasize protecting users, the more cautious you should be. Once privacy is handed over, it can't be taken back. Don't even mention if the project team changes their mind or if the database gets hacked—your social graph is all in there. Aren't there enough platforms in crypto that have been hacked or phished?
My attitude remains the same: new things can be observed, but don't rush to give yourself away. Let others be the guinea pigs first, see the distribution rules clearly before taking action. After all, in crypto, the most expensive tuition is often trust misplaced.
Will you install this plugin, or just keep watching from the sidelines? The exchange that promised to operate as usual has already prepared a shutdown plan.
BitMart wrote a sentence in its announcement these past two days that many might have skimmed over and forgotten. It is formulating a potential restructuring plan, which exists as an alternative to a complete shutdown. In other words, this well-established exchange, which opened in 2017 and has accumulated many users worldwide, is already preparing a fallback for itself.
This situation did not come without warning. BitMart hired top law firm White & Case as restructuring advisors, stating it plans to gradually resume partial operations in an orderly manner and then distribute assets to creditors. However, it also made it clear that this is only a possible option; legal, financial, and regulatory aspects still need further evaluation, with an update promised to the market by September 9 at the latest.
Comparing the before and after feels off. A few months ago, it was still actively onboarding new users, listing coins, and running promotions, with a lively website. But behind the scenes, it has already started assuming the worst-case scenario—that the exchange might not be able to continue operating. An exchange outwardly operating as usual while holding a shutdown contingency plan is a contrast that truly signals something to watch.
Just as Bitcoin surged to 78,000 and the whole network was shouting that the bull market is back, one exchange quietly prepared a fallback plan for itself. The busier the market, the easier it is to overlook such quiet signals. But historically, every real turning point often doesn’t happen when everyone is panicking, but when they feel safest. BitMart’s contingency plan reminds us that the platform’s dignity and user security have never been the same thing.
Many people’s impression of BitMart still lingers on how it was years ago, thinking it’s at least a veteran operating for nearly nine years and unlikely to fail. But precisely mid-tier platforms are the easiest to get squeezed from both ends. When the market cools, trading volume drops sharply, but compliance costs rise year after year, and those who can’t hold on are often this group.
Once it reaches the restructuring stage, users inside are no longer customers but creditors. How much you can get back depends on the liquidation and distribution results, which may not match the balance on your account. We are used to leaving coins on exchanges for convenience, but when a crisis hits, whether your withdrawal channel remains stable becomes the most realistic issue. BitMart now says it can slowly recover, but no one can guarantee where that bottom line is. Are the coins you have there really always accessible? Don’t wait until the announcement of a shutdown to start thinking about this.A trillion-dollar valued company includes dislike of AI in its prospectus
A company that hasn't gone public yet, with a private valuation approaching one trillion dollars, is preparing its IPO documents. Normally, for a company of this scale, the prospectus would focus on growth stories, moats, and market size. But recently, at a closed-door meeting with banks and investors, Anthropic sent an unexpected signal: they plan to formally include the public's negative sentiment towards artificial intelligence as a risk factor in their prospectus.
Anthropic is the cutting-edge lab behind Claude, belonging to the same top tier as OpenAI. According to CNBC, its current annualized revenue run rate has exceeded $65 billion, with a private valuation close to one trillion dollars, and it is preparing for a major IPO in the coming weeks. Such a player at the peak of the wave is the first to admit that the storm might backfire.
What’s unusual here is that risk factors in prospectuses are usually hard issues like competition, regulation, or technical failures. Listing public sentiment as a risk means acknowledging that ordinary people's dislike is no longer just noise but a variable that can affect valuation, trigger regulation, and translate into real costs. Their concerns are very specific: fears of AI taking jobs, controversies over electricity and water resources caused by nationwide frantic data center expansions, and community resistance to ultra-large-scale projects.
Even more intriguing is the investors' reaction. At the exploratory meeting, everyone kept asking whether open-source models would crush profit margins, and what chain reactions would occur if data center construction slowed down. They verbally proclaim changing the world but honestly calculate how long this feast can last.
Looking at the bigger picture, it’s worth pondering. This year, the market has been saying AI capital expenditures are being built up through debt, with compute-related debt alone reaching nearly $500 billion. We have also written before that Google and global AI debt totaling about $489 billion are competing for the same pool of risk capital. When the leading AI companies themselves start putting public sentiment warnings in their documents, will the narrative premium of trillions of dollars begin to loosen one day?
Over the past year, AI and crypto have been competing for the same pool of risk capital and the same narrative attention. We previously wrote that RWA rose counter-trend to $33 billion partly because funds siphoned by AI began to flow back. When AI itself starts issuing warnings, where that money will shift is something every position holder should consider. How much longer do you think this AI craze can last?