Orbit Post Sitemap
$OKB This wave, I think the real logic is not just a simple pump
Recently, OKB has been really strong.
Other coins are still dragging their feet, but OKB has already touched around $100 again.
I think this time it can't be simply understood as a "whale pump."
Because the logic behind OKB now is different from before.
Now the total supply of OKB is fixed at 21 million, and OKB itself is still the core asset of the X Layer ecosystem.
This means the market is no longer just looking at an exchange platform token, but at the entire OKX on-chain ecosystem.
Of course, the rapid short-term rise definitely has emotional factors.
But what I care more about is:
If the price rises and the funds don't immediately dump, it indicates the market might be accepting a new price range.
What we fear most now is everyone suddenly shouting 100, 150, 200.
Because that's when profit-taking is most likely to occur.
So personally, I won't blindly chase just because it has risen.
I want to see if it can hold steady after a pullback.
If it can hold, it means this wave might not be over yet.
If it can't hold, then it’s likely just another emotional rally.
To put it plainly:
The biggest change for OKB now is not how much the price has risen.
But that the market has started telling a new story about it.
This is what I am truly focused on. As the closing act of the week, can retail data bring the probability of a rate hike in September down to below the safe 30% range? The core question remains this week—how to reduce the probability of a rate hike in September. Wednesday's CPI was not dovish enough, but combined with Thursday's PPI double inflation cooling, the probability of a rate hike in September drops to 30%. If the probability falls below 30%, or even below 25%, the probability returns to a safe range, and the shadow of a rate hike in September will temporarily dissipate from the market. This is a good thing for us. However, CPI + PPI still seems insufficient; the key depends on whether tonight's closing can hold off. Therefore, when data is released later, we will face three scenarios: a. The best outcome — moderate cooling of consumption, combined with CPI + PPI cooling, will weaken the US economy moderately, further damaging the September rate hike, benefiting risk assets, and boosting risk appetite! Needs retail monthly rate in the -0.1%-0.0% range, core monthly rate between 0.0% and 0.1%, control group data between 0.0% and 0.02%. #CPI与PPI同步降温, rate hike divergence widens b. Neutral result—in line with basic expectations, a soft economic landing benefits US stocks but cannot benefit overall risk assets. September rate hike probability is weaker than Category 1. Needs retail monthly rate between 0.1% and 0.2%, core monthly rate 0.2%, control group data around 0.3%. c. Worst outcome—retail sales clearly exceeded expectations, giving Walsh another hawkish reason, with a rising probability of a rate hike in September instead of falling. Retail monthly rate ≥0.4%, core ≥ 0.4%.Why did SanDisk suddenly surge this time? Plus some follow-up trading strategy sharing $SNDK surged directly by 13.7% last night, closing at $1,528.11, and before the market opened today, it once again approached around $1,612 The core catalyst came from SanDisk Investor Day The company’s long-term targets clearly exceed the market’s previous concerns about the NAND cycle: it expects FY2028–2030 revenue to maintain mid-to-high double-digit growth, adjusted gross margin to stay around 80%, and fr【BTC｜The rate cut expectations brought positive news, but BTC didn't rise; this is what we should be most cautious about now】
The latest US PPI and employment data are weak, which theoretically should be positive for risk assets, but BTC is still around $63,000. Moreover, on August 13, the US spot BTC ETF saw a net outflow of about $131 million, marking the second consecutive day of capital outflow.
From the contract perspective, it's not simply a matter of being bullish or bearish now, but that the positive news hasn't led to a significant rise. If BTC later breaks above $64,000 with increased volume, that would look more like a true breakout; conversely, if it continues to lose ground around $63,000, we need to watch out for accelerated losses caused by long stop-losses.
I am currently more inclined to wait for confirmation and not rush into high leverage during the consolidation.
Do you think BTC is preparing to break out this time, or will there be a long liquidation after the positive news fails to push it up?
#BTC #Bitcoin #ContractTradingToday's $SNDK finally let out the breath it had been holding. A few days ago, when I looked at SanDisk's ear My initial feeling was: if this isn't satisfying, what exactly does the market want? Later I realized, what everyone worries about isn't whether SanDisk made money this quarter, but whether thebeen too cyclical before—when prices rise, everyone acts like a stock genius, but once capacity comes online, profits can just disappear.#CPIPPIEaseFedSplit #SP500Nears8000 #SandiskLongTermTargets BTC is consolidating around 6300, and the market is very quiet. But regulatory actions have basically come to a halt. The CLARITY Act passed the committee in May, but then Congress went on recess, pushing the vote to September. The two parties are still arguing over officials holding crypto, significantly lowering the chances of passage. The SEC's meeting originally scheduled for today to discuss new crypto issuance regulations was also suddenly canceled due to scheduling issues, with no new date set. Tokenization-related exemptions have also been delayed. Now Congress is waiting on the SEC, and the SEC is waiting on Congress; no one is making the first move.
Personally, I think this is not just a simple delay but that the difficulty of progress has become very high. There has been almost no substantial progress since May, and resuming in September does not guarantee passage. If you are still waiting for regulatory clarity to bring a big market move, you may need to prepare for a long wait.
#标普收盘再创新高，8000点预期升温 #OpenAI与Anthropic估值竞赛升温
The valuation battle in the AI circle has gone crazy.
Let's get straight to the point: what impact does this have on us?
First layer, money is being drained. SpaceX, OpenAI, and Anthropic together are companies valued at over 3.6 trillion entering the public market simultaneously, and institutional funds will definitely prioritize piling in here. The crypto market already has tight liquidity, and the capital-attracting power of AI unicorns in the capital market is further compressing the liquidity space of the crypto market. As long as AI IPOs continue, it will be difficult for the crypto market to attract large incremental funds in the short term.
Second layer, narratives are linked. There are a bunch of AI concept tokens in the crypto circle, essentially telling the same story as these companies. If Anthropic can really go public with a 2 trillion valuation, the ceiling of the entire AI track will be pushed up, and AI projects in the crypto circle with real business support will also see their valuation logic pulled higher. But if valuation overextension causes the market to start re-examining AI's profitability, the risk will also transmit to the entire tech sector and even the crypto market.
Third layer, valuation benchmarks are forming. The IPOs of OpenAI and Anthropic will provide the market with an unprecedented reference—how much AI companies are really worth, how they make money, and how profits are calculated. Once this framework is established, protocols and projects in the crypto circle with real revenue will be compared horizontally with traditional AI companies. Those with real cash flow will be repriced, and those only telling stories will be accelerated out.
Here’s my take.
The IPOs of these two AI giants will cause short-term liquidity squeeze for the crypto circle. But looking further ahead, the reason they can be worth trillions is not because their code is well written, but because global capital is re-pricing computing power. When the financial attributes of computing power are confirmed by Wall Street with real money, Bitcoin, as the most primitive expression of computing power, will have its long-term narrative only strengthened, not weakened.
What do you think?
$BTC $SNDK Bitcoin has continued its recent dull sideways trend, with intraday trading prices fluctuating narrowly between $62,800 and $63,500.
However, more concerning than the price is the deep liquidity crisis in the market—spot trading volume has fallen to the lowest level recorded by Glassnode since 2019, and on-chain transaction volume has hit a seven-year low. Buyers and sellers seem to be locked in a "who blinks first" standoff: sellers are unwilling to cut losses, while buyers remain inactive due to lack of direction, resulting in a rare deadlock of "seller fatigue and buyer absence."
Behind this extremely low volatility lies the dual pressure of macro uncertainty and regulatory fog. On one hand, although US inflation data shows signs of cooling, geopolitical tensions are pushing up energy prices, the Federal Reserve remains on hold, and risk assets are generally under pressure; on the other hand, the US SEC has just initiated crypto rulemaking, while the Congressional CLARITY Act has been postponed until September, leading institutional funds to stay on the sidelines, with Bitcoin ETFs experiencing net outflows for several consecutive days.
Whales are also clearly divided, with some quietly increasing short positions and others choosing to reduce holdings and exit. The market seems to be waiting for a clear catalyst—whether regulatory clarity, a macro shift, or a sudden anomaly in on-chain data—otherwise, this suffocating "low-volume sideways" state will persist. For short-term traders, the biggest enemy right now is not direction but the near disappearance of volatility itself.
$BTC SEC meeting suddenly canceled, real market interpretation at present
The biggest event in the crypto world today is that the SEC's originally scheduled crypto regulation meeting was abruptly canceled with no new date announced. It seems crypto policies are often delayed, and both sides still appear to be negotiating.
The official explanation is a scheduling conflict, which basically means the parties couldn't reach an agreement. Traditional Wall Street brokers strongly oppose the new regulations, and with the U.S. Senate in recess, the conditions for policy implementation are not mature. The SEC can only temporarily halt progress and dare not enforce it forcibly.
I feel this cancellation is neither a positive development nor a complete negative crackdown; it simply means the overall regulatory rules are postponed.
The market had been expecting this meeting to finalize rules on tokenized securities, especially on-chain stock tokens like SPCX. Everyone was waiting for clear direction. Now with the delay, the "certainty" the market hoped for is completely lost, and uncertainty is extended.
The impact on BTC and ETH markets is minimal; there won't be direct price swings. But it will suppress overall market sentiment. Institutions were already cautious, and now with regulatory uncertainty increasing, large funds will be even less likely to enter and push prices up. So the market will likely continue to trade sideways within a range.
U.S. crypto compliance regulation is far more cautious and conservative than many expect. There is no quick, comprehensive compliance rally; all positive developments are slow, dragged out, and repeatedly delayed.
For now, everyone should try to avoid heavy positions and use low leverage for swing trading. I still feel the overall trend is upward because the U.S. stock market continues to provide new strength to the crypto space Bitcoin ETF flows just took a noticeable hit.
📉 Net outflows: -$131.13M
ARK 21Shares → -$58.82M
Fidelity → -$55.12M
GBTC → -$36.29M
Bitwise → -$9.28M
BlackRock → -$5.74M
Not exactly encouraging.
But the ETF outflows themselves aren’t what I’m watching most closely. The real question is how $BTC reacts to the selling pressure.
Weak price action + persistent outflows = warning sign. ⚠️
Strong price action + outflows = potential absorption. 💪
The difference is important.
Capital may be leaving ETFs, but if $BTC refuses to break lower, it could mean the market is absorbing that supply. The price reaction will tell us much more than the flow number alone.
#CPIPPIEaseFedSplit #SP500Nears8000 This week's data clearly laid out the situation.
CPI year-on-year 3.5%→3.4%, core CPI 2.6%→2.5%; PPI year-on-year 5.5%→4.7%, core PPI 4.7%→4.2%; initial jobless claims climbed to 209,000. Inflation cooling and employment loosening, both lines confirmed simultaneously, the urgency of a rate hike in September is fading.
But the Fed folks are still arguing.
Harker insists a hike is necessary, saying rates are "not tight enough"; Barkin counters that "the current level is sufficient." Hawks and doves each stick to their own views, neither yielding.
Traders are too lazy to wait. Short-term rate contracts no longer fully price in a rate hike this year, U.S. Treasury yields have fallen across the board, and the S&P 500 has directly broken through the historic 7800 level. The market votes with its feet, not waiting for their quarrel to end.
Oil prices are also helping. WTI dropped over 2% to $81, Brent slid toward $87. The Strait of Hormuz stalemate remains, but the geopolitical premium is clearly ebbing, and inflation expectations are sinking accordingly.
On Thursday, SanDisk surged nearly 14 points, the storage sector collectively rose, the S&P 500 first broke 7800, gold hovered at a high of 4380, but Bitcoin remained stuck at 63800.
The same macroeconomic report, but completely different scores. U.S. stocks are racing ahead on rate cut expectations, gold sideways indicates the safe-haven base hasn't moved, Bitcoin lying flat shows it's still waiting for its own rhythm—macro is the backdrop, not the trigger.
The direction has already tilted toward rate cuts, the path is clear. But how different assets move depends on their own fundamental scripts. #InflationCoolingMeetsRateHike ## SanDisk Market Brief Analysis
SanDisk's stock price surged again, rising more than 13% in a single day, becoming a focal point in the U.S. tech sector.
## Core Reasons for the Sudden Surge
1. Investor Day Reveals Financial Targets Exceeding Expectations
The company announced a long-term financial model at Investor Day that far exceeded Wall Street forecasts, projecting a mid-to-high double-digit compound annual revenue growth from fiscal years 2028 to 2030, and setting an adjusted gross margin target near 80%, greatly boosting capital market confidence.
2. Explosive Demand for AI Inference and Data Centers
Global AI large model training and inference have driven explosive demand for high-density, low-power enterprise SSDs (such as 128TB high-capacity solid-state drives). SanDisk, leveraging advanced 3D NAND technology, has successfully entered the core storage chain of data centers.
3. Global NAND Flash Supply Shortage and Price Surge
The AI hardware boom has caused a severe global shortage of storage chips, with NAND flash contract prices rising sharply. The simultaneous increase in volume and price has driven explosive strong growth in performance.
4. Business Model Innovation Breaking the Cyclical Logic
The company plans to lock in high gross margins through long-term commercial agreements, attempting to break free from the traditional storage industry's severe cyclical volatility, gaining a revaluation and premium from Wall Street capital.
## Summary and Market Outlook
Currently, SanDisk is driven by the AI storage super cycle and better-than-expected performance guidance, with strong fundamental momentum. However, considering the significant short-term gains, a high-level consolidation and shakeout may occur. It is recommended not to blindly chase the high prices but to wait for the market to digest and pull back before seeking entry opportunities.
#闪迪投资者日后，长期目标成焦点 $SNDK AI infrastructure performance is emerging as a new link that controls cryptocurrency supply and demand. As long as AI capital expenditure expansion does not end, can the risk appetite support levels for BTC and ETH be maintained? AMD's Q2 2026 revenue grew about 50% year-over-year to $11.54 billion, with the data center segment reaching $6.7 billion, up 107%. Nvidia reaffirmed the strength of AI demand with FY2026 data center revenue reaching approximately $194 billion. In memory, SK Hynix posted record results thanks to demand for HBM, advanced DRAM, and NAND, and began shipments of HBM4. SanDisk's quarterly revenue surged to $8.97 billion from $1.9 billion in the same period last year due to AI storage demand. Including TSMC, the AI investment cycle is spreading beyond GPUs to memory, storage, networking, data centers, and power infrastructure overall. The key question is what kind of price structure changes this trend will create in the virtual asset market. Strong AI infrastructure performance is transmitted to crypto through two channels. First,On-chain data shows that approximately 4.77 million $BTC bought in 2025 remain, down 41.5% from the peak in December last year. All these coins are currently at a loss, and the reduction basically equals selling at a loss to change hands. Selling was extremely intense before February, then the curve clearly slowed down — the most panicked holders have already exited. Meanwhile, the coins bought between 2022 and 2024 that still have unrealized gains show a selling curve that has nearly flattened, indicating long-term holders are indifferent to current volatility.
Comparing history: At the end of 2018, high-position coins from 2017 decreased by about 62%; at the end of 2022, high-position coins from 2021 decreased by about 51%. This round is currently only 41.5%, and if mechanically referencing history, the selling pressure seems not fully exhausted.
However, there is a key variable this round — institutions. ETFs and institutions like MicroStrategy hold over 2.4 million BTC, and this portion of coins has a much stronger lock-up willingness than retail investors, with extremely low turnover rates. ETFs had no outflows throughout August, and institutions are still accumulating. This means the bear market this round may not require a 60% reduction in high-position coins to reach the bottom.
Additionally, the seller exhaustion index has entered an extreme range, the daily spending of long-term holders has dropped to a two-year low, and the "big giveaways" from old OGs have basically ended.
In summary, panic selling has basically been released, and selling pressure is tending to exhaust. But the reduction in on-chain coins is still some distance from historical bear market bottoms, so short-term fluctuations may still occur. The difference is that the lock-up effect of institutional funds is changing the supply-demand structure, so this bottom may be closer and gentler than expected.The data released this week has already sent a clear enough signal.
CPI year-on-year fell from 3.5% to 3.4%, core CPI dropped from 2.6% to 2.5%;
PPI year-on-year declined from 5.5% to 4.7%, core PPI fell from 4.7% to 4.2%;
Initial jobless claims rose to 209,000.
Three combined signals: inflation steadily cooling, employment weakening marginally, and the urgency for a rate hike in September significantly reduced.
However, opinions within the Federal Reserve remain deeply divided.
Harker insists on further rate hikes, with the core reason being that the current policy rate is not restrictive enough.
Barkin believes many officials already agree that the current rate level is sufficiently tight.
One side advocates continuing rate hikes, the other side supports holding steady, with completely opposing views.
Market traders have no patience to wait for officials to debate. Short-term interest rate contracts no longer fully price in rate hikes this year, U.S. Treasury yields are falling across the board, and the S&P 500 has hit a new all-time high. Capital is moving ahead of the Fed's statements.
Oil prices are cooperating as well, with WTI plunging over 2% to around $81, Brent dipping to $87. The stalemate in the Strait of Hormuz remains unresolved, but the geopolitical risk premium is rapidly fading.
Once oil prices ease, the most important anchor for inflation expectations will also move downward.
$SNDK SanDisk surged nearly 14% in a single day on Thursday, lifting the entire storage sector.
The S&P 500 surpassed 7800, U.S. stocks keep hitting new highs; gold is consolidating around the 4380 high; BTC Bitcoin remains around 63800.
Despite the same macro narrative of cooling inflation, three asset classes have shown completely different market rhythms.
U.S. stocks are trading ahead on expectations of future rate cuts; gold's high-level consolidation indicates that safe-haven funds have not exited; Bitcoin staying flat suggests it has not yet shifted to the macro pricing mainline.
The exact same macro environment, different assets, completely independent market movements.
The big picture market is already betting on the path of rate cuts, and the major trend is very clear. But each asset class’s rhythm depends on its own fundamentals and capital rotation.
$BTC $SNDK $XAU
#CPI and PPI cooling simultaneously, rate hike disagreements widen
Trader DogzongAfter SanDisk surged 13.7%: Has the logic changed, or is it just sentiment?
Last night, SanDisk ($SNDK) broke through the previous platform with a strong 13.7% bullish candlestick, closing at $1,528.11, and even touched $1,612 in pre-market trading. The core catalyst driving this rally came from the company's Investor Day, where long-term targets were released — the market is re-pricing NAND, a sector once considered highly cyclical.
The financial guidance provided by the company significantly exceeded market expectations. Revenue is expected to maintain mid-to-high double-digit growth from FY2028 to 2030, with an adjusted gross margin target of about 80% and a free cash flow margin of about 50%. These three figures combined almost break the market’s inherent perception that NAND is "weather-dependent." More importantly, SanDisk revealed it has signed multi-year agreements with eight customers, with a weighted average term of about four years, attempting to transform the previously volatile storage business into a "stable rental income" business model by locking volume and prices through contracts.
At the same time, the continuous pull from AI data centers on storage provides fundamental support for this rally. Under the catalyst of Investor Day, capital is re-trading the logic of "AI storage + tight NAND supply."
But after the big surge, the core question becomes: Can this strong bullish candlestick be effectively supported?
From a technical structure perspective, the resistance zone above is between $1,600 and $1,620. If the price can stabilize above this area after the open, short-term strength is likely to continue, with the next targets at $1,650 or even $1,700. The first support level below is near yesterday’s high at $1,580, and the second support is around the closing price area of $1,525–$1,530.
In terms of trading strategy, two scenarios need to be considered: If the stock price holds steady in the $1,580–$1,600 range, it indicates that capital is willing to buy at high levels, confirming a strong structure. Conversely, if it gaps up but quickly falls back below $1,580, or even breaks below $1,528, caution is warranted as this rally may be a spike followed by a pullback triggered by news.
The positive fundamentals are real, but SanDisk’s current volatility is extremely high, with RSI rising near 73, making the risk-reward ratio for chasing the rally in the short term unfavorable. A more rational approach to this rally might be to acknowledge the improved logic but avoid chasing highs, instead waiting for a pullback confirmation or a right-side signal after breaking through resistance.
The direction is clear, but timing is more important than direction. #闪迪投资者日后，长期目标成焦点 Comprehensive analysis of the current data from three dimensions: **macroeconomic fundamentals**, **market trend**, and **liquidity flow**:
### 1. Macroeconomic Inflation Data (Fundamentals: Mild Support)
* **CPI Data**: July CPI annual rate dropped to **3.4%** (previous 3.5%), core CPI annual rate fell to **2.5%**, indicating that U.S. inflation pressure is easing as expected.
* **PPI Data**: July PPI month-on-month growth was **0.0%** (flat), with energy prices significantly declining, further confirming the reduction in upstream production costs.
* **Data Interpretation**: The cooling inflation consolidates the macro expectation of subsequent Fed rate cuts, fundamentally a **mild medium-to-long-term positive**. However, since the market had already anticipated and priced this in, the data release's positive effect did not directly translate into upward breakout momentum.
### 2. Price and Market Data (Technical: Range Consolidation)
* **Price Dynamics**: Today BTC pulled back from the intraday high near **$63,500** to around **$62,800**, in a typical 1% - 2% narrow retracement consolidation.
* **Chip Distribution**: Dense order support is concentrated below at **$62,000 - $62,500**; above, the **$64,500 - $65,500** range forms a strong resistance zone from previous break-even positions and long profit-taking.
### 3. Capital and Settlement Data (Liquidity: Reduced Volume, Wait-and-See)
* **Weekend and Settlement Effects**: Coinciding with Friday options settlement and the upcoming weekend suspension of U.S. stock spot ETFs, short-term funds generally choose to reduce positions and observe before the weekend.
* **Volume-less Retracement**: Trading volume continues to shrink, indicating the current pullback is mainly a natural correction due to lack of follow-up buying rather than panic selling by major funds.
#CPI与PPI同步降温，加息分歧扩大 #标普收盘再创新高，8000点预期升温 $BTC $ETH $SNDK The S&P 500 is charging toward 8000 points, but the real test is just beginning
The U.S. stock market is experiencing a trend that has surprised many
While many investors are still waiting for a pullback, the S&P 500 index has been continuously hitting new all-time highs. On August 13, the S&P 500 broke through 7800 points intraday and closed just above 7800 points, getting closer to the 8000-point milestone. It took less than two weeks to move from 7700 to 7800 points, with the index's rise noticeably accelerating.
The core driver behind this rally is not just pure emotional euphoria but three reinforcing logics happening simultaneously: cooling inflation, reduced Federal Reserve pressure, and continued realization of corporate earnings.
The latest PPI data shows that price pressures on the U.S. production side are lower than expected, significantly easing market concerns about further Fed tightening in September. After interest rate expectations eased, capital flowed back into equities, with tech stocks and growth sectors once again becoming the main driving forces.
However, I believe the most noteworthy aspect of this rally is not how high the index has climbed, but that the underlying logic behind the rise is changing.
In recent years, the U.S. stock market's gains relied more on valuation expansion and liquidity expectations, but now the market is increasingly dependent on real earnings.
Especially in the AI industry chain.
Many previously questioned whether AI investment was overhyped, but since the beginning of this year, the focus of capital has shifted from "AI concepts" to "whether AI can generate profits."
Companies like Nvidia, Microsoft, Amazon, Google, and Meta continue to expand AI infrastructure investments, with data centers, cloud computing, chips, optical communications, and power supply chains becoming new growth directions. The market now truly cares whether these massive capital investments can translate into higher revenues and cash flow in the future.
This is also why some institutions have started raising their S&P 500 targets.
Citigroup recently raised its 2026 S&P 500 target to 8100 points, not simply based on expecting further valuation increases, but because corporate earnings forecasts are improving. Some institutions also emphasize that future index gains will need to rely more on profit growth rather than just valuation expansion.
However, the closer we get to 8000 points, the more we cannot ignore the risks.
The biggest variable in the market remains the Federal Reserve.
Although improved inflation data has reduced rate hike pressure, core inflation is still above the 2% target, and policy will not completely shift based on a single data point. If employment continues to deteriorate, expectations for rate cuts may rise further; but if energy prices, wages, or service inflation rebound, the Fed may remain cautious.
Another deeper question is:
Can the AI profit cycle sustain?
Currently, the market is willing to give tech companies higher valuations because it believes AI will bring the next wave of productivity improvements. If AI capital expenditures continue to grow but profit realization lags expectations, valuation pressure may reemerge.
Therefore, 8000 points is neither an endpoint nor just a psychological number.
It represents a new phase—the era of gains driven by stories is ending, and the future requires companies to deliver more profits as proof.
My view is that, in the short term, the upward trend in U.S. stocks remains intact, the cooling inflation data has given risk assets some breathing room, and the AI industry chain remains the strongest main theme.
But the difficulty of further gains will clearly increase.
For the index to continue breaking through, it will no longer be enough to have just good data; sustained earnings exceeding expectations will be required. Especially in a high-valuation environment, any signs of earnings slowdown will be magnified.
What truly matters is not whether the S&P 500 can surpass 8000 points, but whether, after surpassing it, the market has strong enough fundamentals to support further gains.
In the coming months, the core competition in U.S. stocks will shift from "who owns the AI story" to "who can turn AI into profits."
$DOS $OKB $GRVT
#标普收盘再创新高，8000点预期升温 #闪迪投资者日后，长期目标成焦点 What exactly is going on with SanDisk? Do you know the story behind the big surge? $SNDK Recently, the stock price surged sharply due to aggressive guidance released during the investor day, leading to clear market divergence in opinions. To judge whether this rally is a “sustainable positive” or “overvaluation,” we need to take a rational view.
$SNDK has long-term sustainability and a reshaped valuation logic
Supporters believe that SanDisk’s rise is not mere speculation but based on structural changes in fundamentals and business model, with long-term sustainability:
1. Business model transformation smooths cyclical fluctuations: SanDisk is trying to break free from the traditional NAND (flash memory) industry’s cyclical fate of “boom and bust.” By launching a “New Business Model (NBM),” SanDisk has signed long-term agreements with 8 customers, locking in guaranteed revenue of up to $93.9 billion and covering about 50% of bit shipments in 2027 and about two-thirds in 2028. These long-term contracts are expected to align SanDisk’s profit structure closer to logic chip manufacturers, improving earnings predictability.
2. AI inference demand reshapes storage hierarchy: As AI moves from training to large-scale inference, KV Cache is reshaping data center storage architecture. SanDisk expects the enterprise data center flash market to reach 1.2 ZB by 2030. Additionally, the company’s high-bandwidth flash (HBF) technology aims to solve the AI “memory wall” problem, offering huge future potential.
3. Aggressive financial guidance and shareholder returns: SanDisk has set extremely high targets of about 80% gross margin and about 75% operating margin for fiscal years 2028-2030. Meanwhile, the company commits to returning 100% of remaining cash after business investments to shareholders, with a current remaining buyback capacity as high as $15.5 billion, providing strong bottom support for the stock price.
However, expectations are overextended, with risks of overvaluation and correction
The current high enthusiasm has overextended the ability to deliver future performance, showing clear signs of overvaluation:
1. Profit margin targets are extremely aggressive and difficult to achieve: For the NAND industry, an 80% gross margin target is at a very high level. Despite long-term contracts as a floor, if subsequent AI demand or spot prices fall short of expectations, the storage sector still faces significant correction pressure.
2. Short-term guidance below expectations triggers a “trust crisis”: On August 5, SanDisk’s Q4 earnings beat expectations across the board, but next quarter’s revenue guidance was slightly below the market’s very high expectations, causing the stock to plunge over 8% at one point. This shows the market’s extremely harsh growth slope expectations for SanDisk; any slowdown in future growth could easily trigger capital outflows.
3. External macro and industry risks: The U.S. government recently imposed tariffs on core semiconductor supply chain regions (such as Japan, South Korea), increasing supply chain uncertainty. Moreover, cutting-edge technologies like HBF are still in early validation stages and require time before large-scale commercial shipments, making short-term profit conversion difficult.
In summary, SanDisk’s rise is supported by solid long-term logic but also contains overvaluation elements driven by short-term overheated sentiment.
* In the long term, NBM contracts and AI inference demand are indeed reshaping its valuation system, providing sustained fundamental upward momentum.
* In the short term, the market has priced in perfect expectations for the next few years in advance. As institutions like Goldman Sachs have warned, whether long-term contracts can truly weaken industry cyclicality still needs time to verify. The current high market expectations raise the bar for performance delivery, and short-term corrections due to macro fluctuations or guidance misses cannot be ruled out. $BTC has hit another U.S. Treasury bomb!
The long-term financing cost in the U.S. has surged again. The U.S. Treasury completed a $25 billion 30-year bond auction, with the winning yield rising to 5.216%, the highest since 2001.
What does this mean? Long-term capital is demanding higher returns, and concerns about the U.S. fiscal deficit, debt supply, and inflation risks remain.
The continued rise in long-term U.S. Treasury yields will directly increase government and corporate financing costs, while also raising the risk-free asset yields, temporarily suppressing valuations of risk assets like U.S. stocks and BTC.
So, in the short term, high interest rates are a pressure point above BTC. But from a larger cycle perspective, the longer high interest rates persist, the greater the interest burden on U.S. debt, and market expectations for subsequent rate cuts and liquidity easing may reheat.
Therefore, don’t just focus on a single candlestick now. Short-term high rates suppress prices and increase volatility; if BTC experiences a deep pullback, it might actually provide a better entry price for subsequent capital inflows.
Next, focus on changes in U.S. Treasury yields and whether BTC’s key support can hold.
#CPI与PPI同步降温，加息分歧扩大 #标普收盘再创新高，8000点预期升温 $BICO rose by 12.72% in 24 hours but has been losing ground in the last 12 hours (-2.14%). Activity is cooling down — volumes are below average.
The trading range has narrowed, with the price close to the nearest support at 0.0264. If it loses this, the next support is at 0.02625.
Resistance above is at 0.02836, but it is not being tested yet.🚨 $SNDK — THE MARKET FINALLY EXHALED
SanDisk’s latest results were impressive: $8.97B quarterly revenue, +51% sequentially, 84.6% gross margin, and a data-center business that doubled.
Yet the stock initially sold off.
Why? Because the market wasn’t just asking “How much did SanDisk make?”
It was asking: “Can these profits last?”
That’s what made today’s Investor Day more interesting.
t#CPIPPIEaseFedSplit #SP500Nears8000 #SandiskLongTermTargets Reforms always progress in a spiral manner, often leading to unintended consequences.
Tax-sharing system reform, state-owned enterprise reform, exchange rate reform, and so on are indeed good reforms with obvious achievements. However, many of our current problems also stem from these reforms.
For example, although the tax-sharing system has strengthened the central government's fiscal capacity, local finances have gone down a path detached from fiscal control. For instance, local rural commercial banks and city commercial banks have become the local governments' cash bags, and later land finance emerged. This is equivalent to local governments holding part of the minting power.
State-owned enterprise reform, through the joint-stock system and limited liability company system, created urban investment platforms and local state-owned enterprises, which instead became the arms for local governments to directly manipulate the economy.
After exchange rate reform, to stimulate exports, local governments massively supported and encouraged exports, causing the surplus to soar. The central government completely lost control over the surge in foreign exchange reserves, which at one point determined our money issuance.
What are the results? China's local governments are the richest and most powerful local governments in the world, the only ones not bound by fiscal discipline, and also the local governments with the largest scale of debt. They are the only local governments in the world capable of turning around and holding the central economic policy hostage. Remember Premier Wen's famous saying?
So sometimes it seems contradictory: in our country, which has always valued centralization, reforms aimed to strengthen the center, but local governments ended up hijacking national policies.
This is also what has been continuously corrected over the past few years.[Pharaoh's Market Watch]
Pharaoh calculates: This isn't AI fighting; it's two brothers competing to be the "new king of tech," while rolling out the red carpet for Bitcoin!
Conclusion first: In this valuation arm-wrestle, Anthropic has already taken the lead—throwing down $65 billion in Series H funding, pushing its valuation to 965 billion, surpassing OpenAI's 852 billion for the first time. Annual revenue breaks 47 billion, enterprise clients jump from 9% to 34.4%, while OpenAI remains stuck at 32.3%. Rumors say it's planning an unofficial IPO worth $2 trillion—this isn't just going public, it's aiming for the stars.
Why is OpenAI lagging?
It's still playing the old game of "free to attract users, paid to milk them"—ChatGPT has 900 million weekly active users, but a payment rate under 6%, losing $2 for every $1 earned. CFO and CEO are almost fighting over when to go public, with projected losses of $200 billion by 2028. Pharaoh exclaims: Brother, are you doing charity or AI?
Anthropic is much smarter: no small fish, just casting a net for big ones! 80% of revenue comes from enterprise APIs, Claude Code dominates the programming market, and 70% of Fortune 100 companies are its clients. Even more impressive, it’s partnered with Micron, Samsung, and SK Hynix—three storage giants—and signed a $45 billion computing power deal with SpaceX—this isn’t an AI company, it’s a "computing power warlord"!
What’s the impact on Bitcoin (BTC)?
Pharaoh says: Which AI giant goes public first doesn’t matter; what matters is whether their valuations hold steady.
· Successful IPO with strong stock price → tech sector rallies, Bitcoin benefits.
· IPO failure and valuation collapse → entire sector repriced, Bitcoin shakes.
Remember Pharaoh’s mantra: good deals come to those who wait, great shows come to those who watch. Whoever rings the bell first and how loudly they do it will directly shape the next tech narrative. Let’s grab our seats, watch their performance, and wait for Bitcoin’s tailwind.
Pharaoh · No fish farming, only fishing · Computing Power Observer 😏$BTC $ETH $SNDK #OpenAI与Anthropic估值竞赛升温 [BTC Monthly Level "Cutting Effect": Continuation Pattern Intact, Downtrend Still Ongoing]
From the BTC monthly level perspective, the significant large bearish candle in June 2026 structurally formed a highly destructive "range cutting effect."
A close look at the chart reveals a highly cautionary technical detail: the monthly K-lines before and after June, despite having overlapping wicks testing each other, have their real bodies completely disconnected and non-overlapping.
This releases a very strong bearish signal in Price Action:
1. Effective resistance shift downward: the real body bottom range before June has been firmly established as a new strong resistance zone, where bullish rebounds cannot even achieve a real body retracement and recovery at the monthly level;
2. Continuation, not reversal: the current consolidation below is merely a weak pause after breaking a key structure, with no monthly-level bottom reversal engulfing pattern appearing.
Combined with the previous on-chain cost line cycle pattern that has not yet completed the ultimate crossover, the current consolidation is most likely just a bear market downtrend continuation. This real body disconnection means bears firmly control pricing power, and it is highly probable that the market will continue downward to seek deeper cycle real buying support. Be patient waiting for the break below the 53K BTC Realized Price; do not rush to heavily buy at mid-levels catching falling knives.The huge drop in $SNDK today is because: SanDisk just finished the "In Focus 2026" investor day, where management directly unveiled a multi-year financial blueprint covering fiscal years 2028 to 2030. The market got excited, and the stock price immediately surged.
But as traders watching the spectacle, we need to ponder one question: which of these long-term grand goals can actually be realized, and which are just pie-in-the-sky? This determines whether the current price increase is short-term or long-term.
I think the first factor is the market's filter on these cyclical stocks, and during an industry upturn, management's long-term guidance often carries an optimistic emotional boost.
The second factor is the technology iteration and the profit structure between high-end and consumer segments.
The first is an emotional effect; the second won't see major breakthroughs in the short term. So I believe this is a short-term benefit, and after the weekend when people sober up and calm down, the price will come down.
Moreover, there are still big uncertainties.
The grand blueprint depicts a smooth scenario. But the storage industry’s rule has always been "overcapacity happens overnight." Once downstream AI server capital expenditures slow down, or competitors release capacity early to grab market share, the so-called long-term financial model will need revision.
Wall Street can value stocks based on future high growth, but short-term funds focus on the next quarter's supply-demand margin.
So for those interested in SanDisk or the entire storage sector, don’t get dazzled by the long-term grand goals; trading still needs to be based on the current actual situation
#闪迪投资者日后，长期目标成焦点 #Crypto valuation shifts to income, how is BTC priced?
Recently, I saw "crypto should be valued based on income," and I think that's reasonable; air chains should have been exposed long ago. A public chain earning less in annual fees than the fruit shop at my neighborhood entrance, yet valued at tens of billions of dollars—isn't that ridiculous?
But then I thought, what about BTC?
I checked, BTC's annual fees amount to less than $100 million, sounds okay? Market cap is 1.27 trillion, P/S ratio over twelve thousand times. Some say if valued by income, BTC is only worth $10.
I was stunned.
Because I couldn't refute it. BTC indeed doesn't make a profit, no interest, no dividends, all fees go to miners, nothing to holders. By traditional valuation, it's just a piece of code generating no cash flow.
But gold doesn't generate cash flow either.
$XAU Gold has a market cap of two to three hundred trillion, how much does it earn you annually? Zero. No one is foolish enough to calculate PE for gold because gold is not an asset, it's money.
$BTC is now following this path.
Its value has nothing to do with income; it's about scarcity and consensus. 21 million coins fixed, halving reduces inflation to 0.8%, even lower than gold, 79% of coins locked by long-term holders, BlackRock and Fidelity quietly buying. Supply decreases, believers increase.
You say consensus is fake? Isn't fiat also consensus? The dollar relies on government credit, BTC relies on math and code—judge which is stronger yourself.
What about ETH? At least ETH has income.
Gas fees, burning, staking—all three exist, over 140 billion stablecoins locked on-chain, over 10 billion in RWA, L2 TVL three to four hundred billion. P/S ratio over a hundred times, two orders of magnitude lower than BTC. Yet, from 4900 down to 1900, a 60% drop, still no buyers.
This is very interesting.
BTC can't be valued by income but people trust it; ETH can be valued by income and is cheaper but no one buys. What does this mean? It's not about income at all right now. When sentiment is high, even air can fly; when sentiment is gone, gold will also crash.
Income valuation is a good measure for air projects, just don't use it to predict BTC or ETH.
Now BTC is at 63000, halved from last October's high of 126000; $ETH at 1900, down over 60% from 4900, a chorus of wails. But I feel that when everyone starts questioning their value based on "income," it actually means they are pretty much neglected.
Who really holds on for fees?
What do you think BTC and ETH should be priced by?
Pure discussion, personal opinion. Storage sector sees frequent positive developments, rebounding as expected, but I still choose to take profits
The day before yesterday, I indicated that the storage sector's rebound was gearing up, and Hynix, Micron, and SanDisk rebounded for two consecutive days, with SanDisk surging more than 13% yesterday.
Along with the market rebound, the storage sector has seen many positives:
Hynix: The market expects the company may further increase stock buybacks and shareholder returns; meanwhile, Temasek reportedly plans to invest directly in SK Hynix and Samsung Electronics through an internal team. It should be noted that Temasek has not yet officially confirmed this new investment plan.
SanDisk: The board approved an additional $14 billion stock buyback plan, adding to the previous remaining quota, bringing the total remaining authorization to $15.5 billion; at the same time, it provided a significantly better-than-expected long-term financial model—FY28–30 revenue is expected to maintain mid-to-high single-digit to double-digit growth, adjusted gross margin around 80%, operating margin about 75%, and plans to prioritize excess cash for buybacks.
Micron: Plans to increase capital returns starting December 9, 2026, and to return 100% of excess cash to shareholders long-term.
But even after seeing these positives, one should not get carried away.
In this rebound, the only fundamental revaluation truly occurring is with SanDisk—the far better-than-expected long-term financial model directly drove a volume surge and sharp price increase.
In comparison, although Micron and Hynix have rebounded noticeably, their volume is not particularly strong at present.
More importantly:
Buybacks can improve shareholder returns and valuation expectations but are not sufficient alone to prove the storage sector has completed a trend reversal.
Positives can be bullish signals, but one should not ignore the signals given by price and volume themselves just because there are many positives.
Therefore, I will still take profits on MU and Hynix near the upper boundary of the resistance area as planned, and continue to observe SanDisk's subsequent volume and price performance before making a decision.
The above analysis is for reference only and does not constitute investment advice.
#Storage #SNDK #MU #Hynix #Micron #SanDisk Just saw the draft from the Russian central bank. Starting September 1, $BTC, $ETH, and $USDT can be traded on Russian regulated exchanges. Ordinary retail investors can only buy up to 300,000 rubles per year, roughly a bit over 3600, and must pass a test. Qualified investors have no limits. Domestic use for payments is still prohibited; these cryptocurrencies can only be used for trading and cross-border settlements. This will have almost no short-term impact on prices. The limit is too low, so the new buying volume is negligible. BTC hasn't moved much since the news came out, indicating the market had already priced in the "Russia implementing regulation" event. What’s worth noting is that this major mining country is officially incorporating mainstream coins into the official channels. In the long term, the regulatory framework is becoming clearer, which will compress gray market funds but won’t suddenly turn into a positive catalyst. What’s more critical now is tonight’s retail sales data. If the data remains weak, combined with the recent macro sentiment being bearish, BTC’s current range-bound volatility might continue for a while longer. 🚨 WHY IS $SNDK SURGING THIS HARD? THE CATALYST IS BIGGER THAN ONE GOOD DAY.
SanDisk’s latest move appears to be driven by a major fundamental repricing, especially after its Investor Day guidance.
Here’s what the market is focusing on:
1️⃣ 2028–2030 LONG-TERM GUIDANCE
Management outlined ambitious targets including mid-to-high double-digit revenue growth, around 80% gross margin, and roughly 50% free-cash-flow margin.
That directly challenges the idea that SNDK is simply another cyclical memory stock. 👀
2️⃣ AI FLASH MEMORY — THE BIGGER STORY 🤖
SanDisk is positioning its next-generation HBF technology toward AI inference and the growing KV-cache workload.
If AI inference continues consuming more high-performance storage, the market could be looking at a new structural demand driver, rather than just another memory-cycle peak.
3️⃣ CAPITAL RETURN 💰
Management’s commitment to return excess cash to shareholders after completing planned capex adds another layer to the bullish thesis, with dividends and buybacks becoming part of the valuation story.
4️⃣ WALL STREET TARGETS MOVING HIGHER 📈
Major banks have reportedly raised their targets, with Goldman Sachs around $2,200 and JPMorgan around $2,250.
That kind of target-price reset can attract momentum and institutional flows quickly—especially when the broader storage sector is also moving.
👀 What does this mean for the $1,515 short?
This is the uncomfortable part.
The move is no longer purely technical. The market is repricing the long-term story.
A pre-market spike can absolutely see profit-taking after the official open, but expecting an immediate collapse back to your entry is risky if the fundamental narrative remains intact.
If I were managing the risk, I’d focus on:
📉 Sector momentum weakening
📊 Heavy-volume rejection after the open
🔻 Failure to hold key breakout levels
💰 Whether institutional buying continues
And one rule stands out:
Don’t average down into a short just because the position is underwater.
A stock can remain “overbought” much longer than a short seller can remain comfortable.#DailyOrbit Fundamental Research Report $REDSTONE / RedStone (Oracle/Middleware) $3.20
Essentially: RedStone ($REDSTONE) overall score 57/100, rating narrative over execution. Breaking down the three layers, the company team has cash reserves, the protocol network shows paid usage traces, and token value capture is realized.
Project overview: RedStone (token $REDSTONE), oracle/middleware sector. Focuses on modular oracles. Competitors include LINK, PYTH. Traditional centralized platforms charge 15-40% commission, users lack data ownership. On-chain trustless transactions have lower fees, token incentives convert early users into contributors. Customer price range $50-500/month, settlement in USDC or fiat. Narrative-driven sector, usage drops 60-80% in bear markets. Positioned as a niche single-point tool. Product deployment: protocol layer officially running, on-chain dashboard shows protocol fees accumulating, paid usage traces exist. Latest version not found, 60 valid commits in last 90 days.
User metrics: address MAU not disclosed, DAU not disclosed, 24h transaction volume $80.00M, TVL not found. Wallet addresses do not equal unique monthly active users; large addresses holding concentrated positions may overestimate real user count. Revenue side: user fees undisclosed, supplier revenue about 80-90% of user fees (to LPs and nodes), protocol treasury income $2.00M, token holder buyback and burn annualized no burn mechanism. 24h transaction volume is business flow, not revenue. Company profit does not equal protocol profit, protocol profit does not equal token holder profit. Code side: 60 valid commits in 90 days, 25 active contributors, latest version not found. GitHub is grade A evidence for direct verification. Investment background: company equity financing checked via PitchBook/Crunchbase (grade A), token private and public sales checked via whitepaper, release schedule, and on-chain unlock contracts (grade A), market makers and ecosystem grants are grade B, not representing long-term VC holdings, technical integration checked via API/SDK evidence (grade B), strategic partnerships and logo wall are grade D. NVIDIA GPU usage does not equal NVIDIA investment, exchange listing does not equal exchange strategic investment.
Token side: total supply 1,300,000,000, circulating 950,000,000 (73.1%), FDV $4.20B, next unlock 2026-Q4 (adds +3.50% to circulation), annualized burn/buyback no clear mechanism. Must buy tokens to use product? Yes, strong value capture (Gas/staking/service access). Compared with peers (uniform criteria, no cross-sector comparison): Circulating market cap: RedStone $3.00B, LINK undisclosed, PYTH undisclosed. FDV: RedStone $4.20B, LINK undisclosed, PYTH undisclosed. Annual revenue: RedStone $2.00M, LINK undisclosed, PYTH undisclosed. Monthly active addresses or users: RedStone undisclosed, LINK undisclosed, PYTH undisclosed. Figures based on public data snapshots, some missing data supplemented by official reports or industry standards. Valuation: circulating market cap $3.00B, FDV $4.20B, P/S 1500.0x, FDV divided by revenue 2100.0x. Pessimistic view $3.00B at 50-70% discount, neutral range oscillation, optimistic view revenue doubles, burn implemented, enterprise clients onboard, FDV P/S aligns with top projects. Final judgment: fundamentals solid (score 57/100). Token value capture realized (buyback/burn/Gas). Circulating market cap relatively expensive compared to fundamentals, overextended expectations, FDV moderate. Risks to watch: short-term large unlock sell-off, protocol income long-term zero, token demand relying solely on incentives (if incentives stop, usage collapses). Next focus metrics: weekly protocol fees, burn amount, active address retention, TVL/loan balance, GitHub version releases. Data from public sources, for reference only, not investment advice. If indicator deviation exceeds 30%, reassessment needed.
That's all for now, see you next time.
#FundamentalResearchReport #Crypto #Research #OKXOrbitInvestor sentiment is slightly positive, but the market remains skeptical about the sustainability of high gross margins. The core issue is: can the 83%+ gross margin be maintained? Until a convincing answer on "normalized gross margin" is provided, the rebound is more likely to be "volatility disguised as an uptrend." Why say "slightly positive" - Long-term contracts lock in the future: signed 10 long-term agreements with 8 customers, with a minimum revenue commitment of $93.9 billion; supporting performance financial guarantees of $16.5 billion to cover customer default risk - Contract duration and capacity coverage: weighted average term over 4 years; expected to cover over 50% of wafer capacity in fiscal 2027 and about two-thirds in fiscal 2028 - Contract pricing and flexibility: gross margin midpoint around 80%, retaining upside flexibility when market prices rise - Business structure optimization: enterprise SSDs account for 48% of global NAND shipments, up from 26% a year ago; industry revenue has grown fivefold; data center business increased 13-fold year-over-year, becoming the core engine - Active shareholder returns: board approved an additional $14 billion stock repurchase, with total remaining authorization reaching $15.5 billion Why the market remains "anxious" - Sustainability of high gross margins: Q2 gross margin reached 84.6%, next quarter guidance 83%–85%, market worries about "cycle peak" - Earnings guidance below expectations: next quarter revenue guidance $10.3 billion–$10.8 billion, midpoint below analyst expectations; under high expectations, "meeting expectations" may be seen as negative - Institutional divergence: Jefferies lowered target price to $1750, warning earnings heavily rely on price increases; Goldman Sachs and Citi remain optimistic with target prices of $2200 and $2500 respectively - Short-seller warnings: Citron views NAND as a commoditized, highly cyclical product, with high gross margins typically a feature of cycle peaks Trading and observation recommendations - Monitor evolution of gross margin guidance: focus on explanations and whether the "normalized gross margin" guidance range shifts upward in subsequent reports and communications - Track execution and renewal of long-term contracts: on-time delivery and new/renewal status determine revenue and gross margin stability - Assess business structure changes: whether the enterprise/data center share and growth continue to improve, and if consumer segment drags overall performance - Use repurchase pace: progress of large repurchase plans can serve as an indicator of management confidence and stock price support $Q3 revenue was $9.12 billion, up 25% year-on-year, setting a new record; Adjusted EPS of $3.50 also exceeded market expectations. The median revenue guidance for the next quarter is $10.25 billion, also above Wall Street expectations. But the result was that the stock price fell nearly 5% in pre-market trading. The problem is no longer poor performance. It's because chip equipment stocks have risen too much over the past year, and now the market isn't looking for 'growth,' but for consistently and significantly exceeding expectations. Applied Materials has thus sent a signal. Chip fundamentals can remain strong, but as long as they don't exceed everyone's expectations, stock prices will still fall.$XTQQQ and 6 other tokenized US stocks are now available for around-the-clock trading. The core market conflict lies in the collision between liquidity discounts during US stock market closures and the redistribution of crypto capital risk appetite.
$XTQQQ is built on the xStocks architecture on Solana and X Layer, supporting 24-hour trading and an automatic dividend reinvestment mechanism. Since the tokens do not confer legal ownership or voting rights of the underlying companies, their structural pricing anchors still heavily depend on the real liquidity during traditional market trading hours.
The factors driving the market are ranked as follows: spread changes during traditional US stock market closures, the efficiency of on-chain grid and DCA strategies in absorbing positions, and the transmission of macro inflation expectations to overall market risk appetite. Changes in on-chain position concentration during non-trading hours directly determine short-term volatility levels.
In an upward scenario, if macro risk appetite remains stable and the US stock market rises, arbitrage funds will maintain buy and sell order depth overnight, confirming the 24-hour liquidity premium of $XTQQQ. The key variable to watch is the replenishment frequency of offshore market makers; if the spread remains locked within a very narrow range, the bullish scenario continues to hold.
In a downward scenario, if unexpected macro inflation data emerges during US market closures, market makers may quickly withdraw liquidity due to closed hedging channels, causing spreads to widen sharply. If on-chain automated strategies are passively triggered to sell during liquidity vacuums, the market will rapidly move toward discount ranges.
A signal of pricing logic failure is when, during non-US stock trading hours, $XTQQQ prices deviate continuously by more than 2% from the underlying asset benchmark without arbitrage funds correcting it. At this point, the on-chain market-making hedging mechanism is declared broken, and prices are driven purely by on-chain position games.
The most important variables to observe over the next 7 days are the speed of spread convergence during US market open and close transitions, and the actual order depth of automated trading tools during low liquidity periods.
#韩股十日反弹逾22%，芯片股领涨 #AMD完成历史最大美元债发行：融资47.5亿美元After OKB completes its scarcity process, what really needs to be proven is not whether it can still rise
$OKB The easiest way to attract traffic is through the imagination space brought by supply changes and platform ecology. After the X Layer upgrade, OKB was further defined as a network-native Gas asset. The one-time handling of historical buyback reserves and the migration of old ecological assets have also led the market to revisit its scarcity. For price traders, reducing supply is obviously straightforward; but for long-term valuation, supply is only the denominator, and what truly determines value is whether the numerator grows.
The common logic for platform assets in the past was that the larger the trading volume and the more users, the more valuable the token. This statement only tells half the story. If users only trade within centralized accounts and do not need to use OKB, there is a disconnect between traffic and token demand. The importance of X Layer is precisely to try to bridge this gap: making wallets, payments, on-chain transactions, and application usage all require the same native asset to bear fees and ecological functions.
Therefore, the most critical metric for OKB in the next phase is not just transaction volume, but how many real activities occur on the X Layer. Whether active addresses continue to grow, whether stablecoins are deposited, whether applications generate repeated use, whether developers are willing to maintain products long-term, and whether Gas demand comes from natural transactions rather than event subsidies. If these data improve, supply contraction will have economic significance; if on-chain usage does not keep up, the scarcity narrative easily turns into a chip narrative.
On the positive side, OKB has many starting points that new public chains do not have. The trading platform itself already has a huge user entry, wallet distribution, asset listing, and liquidity organization capabilities. New users do not need to learn a completely unfamiliar system from scratch. As long as the path between accounts and wallets is smooth enough, existing trading demand on the platform has the opportunity to migrate on-chain. This "users first, then build ecology" model is more efficient than relying entirely on developer subsidies to attract traffic.
At the same time, stablecoins and tokenized assets are becoming the core of on-chain competition. The real reason users are willing to stay long-term is often not a short-term hotspot, but the ability to transfer funds at low cost, manage assets, participate in yield tools, and complete cross-border settlements. If X Layer only replicates a batch of trading applications, it is difficult to form differentiation; if it can leverage the platform's compliant entry and liquidity to connect real assets, stablecoins, and wallet experience, OKB may transform from a platform equity asset into network means of production.
Risks must also be clearly stated. The deeper the ecology is bound to the platform, the higher the efficiency may be, but the market will also pay more attention to governance transparency, rule stability, and how value flows back. Users will ask whether Gas prices are reasonable, developers will ask whether the platform will change its support direction, and token holders will ask what real demands ecological growth actually increases. Any unclear rules or expectation gaps may quickly shrink the premium brought by scarcity.
Another risk is that low fees themselves are no longer a moat. Many networks can offer cheap transactions; what is truly scarce is the trust that users are willing to deposit large assets long-term. Security, cross-chain, audits, stablecoin depth, and application quality—any missing element will limit capital deposits. OKB's competition is not about who has higher TPS publicity, but who can convert platform users into long-term on-chain users.
So when observing OKB, I divide the metrics into three layers. The first layer looks at supply and on-chain Gas demand to judge whether the token economy is healthy; the second layer looks at stablecoins, wallets, and application activity to judge whether users only come once; the third layer looks at developers and high-value assets to judge whether the ecology can operate sustainably beyond a single hotspot. Only when all three layers improve simultaneously is there a true valuation upgrade.
My judgment of OKB is cautiously optimistic but conditional. Supply contraction solves the concern of "whether chips will continue to dilute," and X Layer solves the framework issue of "where the token is used," but the market ultimately needs to see usage intensity. Scarce assets without demand are just fewer chips; scarce assets entering a high-frequency network may form sustained value.
$OKB has already told the supply story clearly enough; next, it does not need to prove how scarce it is, but to prove that every OKB left in the market has more and more scenarios that must use it. #FinancialReportObserver: AI Infrastructure Earnings Reports Take the Stage
#FinancialReportObserver: AI Infrastructure Earnings Reports Take the Stage
1. Real-time Data
Nebius Q2 AI cloud revenue rose 514% year-over-year, stock price surged 34% in a single day; SanDisk data center business revenue increased 233% quarter-over-quarter; Microsoft and Google Cloud AI business revenues both maintained over 20% growth; $BTC current price 64080U, AI sector tokens slightly surged, decentralized storage $FIL and $RENDER strengthened simultaneously.
2. Underlying Core Logic
Major tech companies' earnings reports have been released one after another, AI computing power and storage businesses all exceeded expectations, long-term subscription orders for computing power lock in future revenue, confirming the continuous explosion of AI infrastructure demand; the traditional computing power industry is improving, driving on-chain decentralized computing power and storage themes to gain capital favor, but most companies continue large-scale investments in capacity expansion, posing risks of prolonged profit realization cycles.
3. Personal View
My trading style is cautious; I will not chase short-term AI-themed altcoins at highs, only allocate small positions to fundamentally solid computing power and storage tokens, and consider increasing positions after earnings season cools down and the market stabilizes, patiently waiting for the overall bull market to recover.
This is only my personal opinion and does not constitute investment advice I was watching the Dusk consensus flow and the odd part wasn’t the reward split. It was the waiting. A generator can have a block ready, but that still doesn’t mean much until validation and ratification catch up. That small gap says more about the system than the percentages do. A provisioner isn’t useful because DUSK is sitting in stake. It’s useful because the node is online, synchronized, selected, and capable of doing the next piece of work when the network asks for it. Miss that window and the capital is there, but the security contribution isn’t.
That changes how I think about the incentives. More stake may improve the chance of participation, sure, but it doesn’t rescue weak operations. And separating proposal from acceptance forces operators into different kinds of responsibility instead of letting one role dominate the whole path to finality.
I’m less certain about what happens when participation gets much larger. More provisioners sounds stronger on paper, but more actors also means more coordination, more uneven infrastructure, more chances for someone to optimize around the reward logic rather than the actual job. That’s the bit I’d keep watching: under heavier activity, do operators stay responsive because the incentives work, or do they start finding cheaper ways to look responsive? #dusk $DUCK The US stock market has just triggered a large-scale short squeeze rally, and the crypto market quickly followed with gains.
Cooling initial jobless claims and weaker PPI data further strengthened market expectations for a Fed rate cut, driving US Treasury yields lower and forcing heavy short positions in tech and storage stocks into intense short covering.
This momentum then spread to the crypto market:
$BTC and $ETH received support, with ETH showing stronger resilience, supported importantly by ETF inflows.
Meanwhile, tokens linked to stocks, such as $xSNDK and $xSPCX, also saw significant gains; most small-cap Meme coins mainly experienced brief speculative rallies.
#CPIPPIEaseFedSplit #SP500Nears8000 #SandiskLongTermTargets The S&P is closer to 8,000 points, but SOL won't be receiving any congratulatory cards from Wall Street. This topic can only follow the risk appetite path; it's neither a project benefit nor a remote call for a price surge.
I'm more concerned about whether the rise is spreading. If small-cap stocks, tech stocks, and crypto all strengthen simultaneously, SOL's relative strength against BTC, spot trading volume, and perpetual open interest should mutually confirm each other.
The trading volume hasn't kept up; it's like many people shouting to buy at the dinner table, but no one is scanning the code. Prices are rising while funding rates are soaring too fast, which instead looks like leverage grabbing seats first.
So don't just count how many points the S&P is away from 8,000. When looking at SOL, I consider relative strength and spot volume together; only when both are stable can the risk appetite truly be said to have passed through the door.
This article is for informational and educational purposes only and does not constitute any investment advice. Digital asset prices fluctuate greatly; please make independent judgments and pay attention to risks. #$SOL Nearly half of people are losing money, who can withstand this market?
$BTC profit supply ratio dropped to 51.4%, a 3-year low. The last time we saw this number was during the FTX collapse. It was still 52% a week ago, and it dropped more than one point again.
Analysts said a blunt truth — when the profit supply falls below 50%, it's the final stage of the market. Those who should sell have sold, the rest are either playing dead or are whales. Glassnode is even harsher: 45 price indicators are all showing blue lights, the surrender time is even longer than during FTX.
But on the other hand, BlackRock absorbed 50.19 million in one day, and ETFs did 850 million in the first week of August. Whales added 46,420 BTC in 60 days, the highest since March.
Some are cutting losses, some are taking over, the old story.
The profit supply ratio of 51.4% is indeed scary, but historically every time such an extreme signal appears, the bottom is not far away.
No need to be afraid at all The biggest feature of this week, I think, can be summed up in two words: dragging feet.
The global market is actually working, but it looks like something has risen a bit, yet nothing has truly surged.
Yesterday, the market started worrying again about the Bank of Japan raising interest rates, but if you take a slightly broader view, there's really no need to overemphasize this.
Look, the S&P has already hit a historic high, the Nasdaq is not far from its all-time high; the Nikkei and Taiwan stocks are also near historic highs. South Korea is relatively weaker, but this week it has basically been moving toward new highs every day.
What’s really interesting now is that the overall environment for global risk assets isn’t bad, but funds don’t seem to have a particularly strong willingness to chase gains.
This is why the recent market always gives a feeling—
Everyone hasn’t clocked out, but no one really wants to work overtime.
So rather than obsessing over whether a certain day’s drop was due to Japan’s rate hike, it’s better to keep observing a more important question:
When global assets are all at high levels, is there still new incremental capital willing to push prices up another notch?
This might be the real question the market needs to answer going forward. $ETH $BTC $QQQ #标普500首次站上7700点，创历史新高 #CPI与PPI同步降温，加息分歧扩大 #Goldman Sachs Acquires Neos, Crypto ETFs Shift Toward Yield Competition
On Wednesday, Goldman Sachs did something: it bought an ETF company called NEOS for $2.25 billion. Simply put, it’s using money to buy time, avoiding the hassle of building a team and products from scratch.
So, what kind of company is NEOS? Founded only in 2022, it manages 19 options strategy ETFs with a total AUM of $30 billion. But the most valuable part of that $30 billion isn’t the size—it’s the product line: Bitcoin High Yield ETF (BTCI), Enhanced Bitcoin High Yield ETF (XBCI), and Ethereum High Yield ETF (NEHI). BTCI launched just last October and has generated $1.1 billion in less than a year.
More importantly, the operating model. These three crypto funds don’t hold coins directly; instead, they generate monthly cash flow through spot ETPs combined with covered call options. The fees are high (0.99% vs. BlackRock’s IBIT at 0.25%), but what they’re selling is “stable cash flow,” not “coin price appreciation.”
This acquisition marks a new phase in crypto ETF competition. The first phase was about “who can compliantly buy Bitcoin”—BlackRock won, with IBIT’s $50+ billion leaving everyone else behind. The second phase is about “who can generate yield from Bitcoin’s volatility.” Goldman Sachs’ $2.25 billion purchase isn’t about scale; it’s about the options strategy capability that turns volatility into cash flow.
In Q1 this year, Goldman Sachs also fully exited XRP and SOL ETF positions and cut back on BTC and ETH. Selling in Q1, buying in Q3—cutting “asset holdings” and buying “strategy capability.” Behind the $600 million portfolio adjustment is a reassessment of the financialization path of crypto assets. BlackRock also launched a similar Bitcoin yield ETF (BITA) in June, currently around $59 million. With Goldman Sachs entering, the crypto yield ETF race has truly begun.After MEME cools down, who can still lead the trend between DOGE and PEPE?
MEME isn't as crazy as before recently.
The market no longer buys every chart.
Capital is starting to focus on one core question:
Who still has the traffic?
DOGE remains unavoidable.
Its biggest trump card isn't technology but Musk and the expectation of X Pay.
As long as the market starts discussing whether X will do payments or integrate cryptocurrency,
DOGE can easily be brought back into the spotlight for speculation.
This is the advantage of the veteran MEME.
No need to re-educate the market.
One piece of news, one hint,
everyone naturally thinks of it.
But DOGE's problem is also obvious.
Its market cap is large, so it's not easy to surge dramatically.
It's more like the big brother in MEME.
There is consensus, but the elasticity may not be the greatest.
$PEPE represents the new generation of MEME traffic.
It doesn't have a complicated story.
It relies on memes, community sentiment, and spread speed.
When market sentiment warms up,
PEPE often attracts short-term funds more easily.
Its characteristics are straightforward:
light enough, fast enough, emotional enough,
suitable for creating short-term hype.
But the risk lies here too.
PEPE doesn't have the long-term external narrative like DOGE.
If the market cools down,
its traffic will also retreat quickly.
So who can lead the trend depends on what the market is speculating on.
If it's about X Pay, Musk speaking, and the return of veteran MEME,
$DOGE is more likely to become the focus.
If it's about sentiment recovery, short-term chasing, and new MEME rotation,
$PEPE might have stronger elasticity Storage Triumvirate Sparks Rebound, Cryptocurrency Faces Pressure and Divergence—Asset Repricing Amid the AI Wave
In mid-August 2026, the global capital markets experienced a rare divergence: the "Storage Triumvirate" represented by SanDisk, Micron, and SK Hynix staged a strong rebound, leading the semiconductor sector to consecutive gains; meanwhile, crypto assets like Bitcoin and Ethereum continued to face pressure, hovering near their yearly lows. Behind this divergence lies a profound reshaping of traditional asset pricing systems driven by AI industry logic.
SanDisk’s "Trump Card" Guidance Ignites the Entire Storage Sector
The trigger for this rebound was SanDisk’s explosive long-term financial guidance unveiled at its 2026 Investor Day. The company projects revenue growth in the mid-to-high double digits for fiscal years 2028 to 2030, with a non-GAAP gross margin around 80%, operating margin about 75%, and adjusted free cash flow margin reaching approximately 50%. For a traditionally highly cyclical NAND storage industry, these targets are considered aggressive.
What excites the market even more is the business model restructuring. SanDisk has signed new business model (NBM) long-term agreements with eight customers, covering about 50% of shipments in fiscal 2027 and increasing to two-thirds in fiscal 2028. The market no longer views SanDisk as a cyclical stock tied to NAND price fluctuations but revalues it as a long-term infrastructure asset benefiting from AI inference.
The market quickly "voted with its feet." SanDisk closed up over 13%, Western Digital and SK Hynix $SKHYNIX rose over 7%, and Micron Technology gained more than 4%. The Bloomberg Asia Semiconductor Stock Index rose more than 19% from its July low, marking its fifth consecutive trading day of gains. JPMorgan promptly upgraded SanDisk to "overweight," noting that the long-term agreements have "structurally reset its profit margin levels, substantially reducing cyclicality."
Storage Triumvirate Powers Forward, AI Demand Reshapes Industry Landscape
SanDisk is not alone. Micron Technology’s business lead stated at the KeyBanc Technology Conference that the memory market in 2027 will be "tighter" than this year, with AI demand exceeding new capacity, and structural supply constraints expected to continue beyond next year. SK Hynix’s stock surged 8.25%, driven by AI-fueled high-frequency bandwidth memory demand, pushing its market cap beyond $1.12 trillion. The Philadelphia Semiconductor Index rose 3.3% in a single day, led by the storage sector.
The entire storage industry is undergoing a valuation shift from "cyclical stocks" to "AI infrastructure assets." As AI moves from training to large-scale inference, storage is transforming from a "data warehouse" into "infrastructure closer to computing power."
Crypto Market Under Pressure, Capital Flows Diverge
In stark contrast to the blazing storage sector, the cryptocurrency market remains sluggish. As of August 14, Bitcoin traded near $63,530, and Ethereum $ETH hovered around $1,860, both lingering in low volatility ranges after deep corrections this year. Spot ETF inflows have plummeted by over 80% since mid-July. Analysts point out that Bitcoin remains under pressure with bearish momentum reemerging.
The market is reallocating chips—capital is flowing from crypto assets lacking clear industrial backing toward storage semiconductors with solid AI demand endorsement. When SanDisk signals to the market with an 80% gross margin target that "storage is no longer cyclical," and when Micron and SK Hynix demonstrate "sold-out capacity" proving the real existence of AI demand, the capital choice is clear. This AI-driven asset repricing may just be beginning.
#CPI与PPI同步降温，加息分歧扩大
#标普收盘再创新高，8000点预期升温
#闪迪投资者日后，长期目标成焦点 #加密估值转向收入，BTC如何定价？
Brothers, the valuation logic of the crypto market is undergoing a quiet revolution.
Bitwise's Chief Investment Officer Matt Hougan recently said something quite striking — "The value of crypto assets other than Bitcoin will increasingly be determined by the same metrics used for stocks and bonds: revenue."
What does this mean? It means that in the past, people speculated on coins based on narratives, sentiment, and who told the biggest story; now it's different. Hyperliquid generated over $800 million in revenue last year and used 99% of it to buy back and burn HYPE; Uniswap, Aave, and Solana are all following suit. When protocols make money, their tokens benefit — once this logic is proven, the valuation method for altcoins will be completely transformed.
So what about Bitcoin?
It is precisely an exception. $BTC generates no cash flow, has no buybacks or burns, and holders receive no dividends. According to the new "revenue pricing" standard, Bitcoin simply cannot be valued using this model.
But the problem is — if the entire market is pricing assets based on revenue, then why is an asset "without revenue" worth over sixty thousand dollars?
Is it because of the scarcity of 21 million? Because of the "digital gold" narrative? Or simply because everyone believes it is worth that much?
The answer to this question may determine who the real winner is in the next cycle — $BTC or the altcoins.Everyone is focused on whether BTC will break 63,000, but today the bigger question is: is this market having a split personality?
On one hand, Shinhan (Shinhan Asset) just launched a tokenized fund pilot with Plume, with institutions quietly laying pipelines; on the other hand, the ECB just finished an investigation—only 0.2% of merchants in the Eurozone truly accept crypto payments, and on the same day JPMorgan cut off Polymarket's banking channel.
BTC $62,895, 24h -0.8%, breadth 5 up 10 down (a breather compared to yesterday's 3 up 12 down), volume -48.6% and still shrinking.
The two legs of incremental capital—real payments + TradFi channels—one hasn't grown, the other is being cut. Volume can't recover above -20%, this isn't a shakeout, it's that no new players are entering.
What to take away: don't just look at price to guess the bottom. Look at two leading indicators—stablecoin on-chain circulation + CEX net reserves. Price is flat but these two haven't turned up, so it's a false bottom.
Do you dare to buy this dip? If yes, say why in the comments, don't just shout "the bottom is here"—let me see whose real insight can prove me wrong.
Crypto assets are high risk, the above is pure personal rambling and does not constitute investment advice.
#OKX星球 $BTC #CryptoAdoption #TradFiDivergence $OKB US crypto regulation enters a "double wait": legislation stalled, rules also stalled
August has two important milestones for the crypto market: the full Senate vote on the CLARITY Act and the SEC's public meeting on new rules for crypto asset issuance. Both have now been postponed. $SNDK
First, on the legislation side. The CLARITY Act passed the House last July with 294 to 134 votes and passed the Senate Banking Committee 15 to 9 in May this year, seemingly smooth sailing. But it got stuck at the full Senate vote. The Senate failed to advance the procedural vote before its August recess, and after rescheduling, it will wait until September 15. Prediction markets estimate only a 21% chance of it becoming law this year. Analysts at Grayscale also believe that considering the Senate schedule and the political realities of an election year, the likelihood of passage this year is very low.
Now on the SEC side. On August 11, the SEC announced a public meeting on August 14 to review new registration rules for crypto asset investment contracts. But on August 13, it was canceled outright. Pressure from the White House and Wall Street led to another delay of the exemption plan, with no rescheduled date announced yet.
So the current state of US crypto regulation is this—legislation is stalled, and rulemaking is also stalled.
In the short term, key issues like market structure, token issuance rules, and tokenized securities pilot programs will have no clear answers. SEC Chair Paul Atkins previously said that "digital securities," i.e., tokenized traditional securities, are the only crypto asset category subject to securities laws. The SEC and CFTC recently issued joint guidance dividing digital assets into five categories. Simply put, the SEC wants to bypass the legislative deadlock and build a regulatory framework on its own authority. But the problem is that guidance documents can be changed or revoked by the next commission, whereas legislation provides stability.
This is the current reality: rules may exist but can change at any time; legislation is desired but likely won't happen this year. The procedural vote on the CLARITY Act on September 15 is worth watching, but the odds stand at 21%.
What the crypto market fears most is not bad rules but no rules. The US is currently stuck in this "no rules" state.
No one can say how long this ambiguous state will last. But one thing is certain: as long as nothing is finalized, institutional funds' concerns will not be alleviated. Let's first see if the procedural vote passes on September 15—if it does, there's still hope, but it will have to wait until next year.
#CLARITY表决待定，SEC规则未落地 $BTC $BTC tested 63300 three times and held, rebounded to 63500
Volume is insufficient, 64000 is a barrier, heavy resistance above, lacking incremental funds.
$ETH is sluggish, holding at 1860, unable to break through 1890
$SOL stuck at 75.5, 77 resistance has been sideways for two weeks, purely supported by expectations.
Bottoming phase:
✅ Light long positions if 63300 holds｜Stop loss at 63000, take profit near 64000
❌ If it breaks below 63000, wait for 62500 to reassess The news of CPI and PPI cooling down simultaneously hung around all day, trending topics were pinned, yet $BTC at 62881 couldn't even reclaim 63,000. No reaction to the positive news, which looks worse than bad news — indicating no one believes the inflation story now, the market is purely driven by capital flows.
I was watching the market during the day; every time it bounced back to 63,000, it was pushed down again, the pattern is exactly the same: pump first then dump, specifically to trap bottom-fishers. The gap below at 62,500 has been grinding all day without filling; whether it fills or not will be decided tonight.
On the altcoin side, the $APR triple leverage myth is still being spread, but look at $RAVE and $SNDK, smart money has already flipped to short waiting for them to go to zero. The script of pumping high to dump has played out for two days, it's time to change the lead actors.
$ETH at 1877 and $SOL at 75.5 continue to lie flat. In this kind of market, keep your position half-open, don't bet on data, follow the volume. Money is made by waiting, not by rushing.
$BTC $ETH $SOLToday $SNDK finally caught a break; the frustration from the past few days has finally dissipated.
Looking back at SanDisk's earnings report, honestly, my first reaction was confusion—quarterly revenue of $8.97 billion, a 51% sequential increase, gross margin hitting 84.6%, data center business doubling, yet the stock price still took a hit after the report was released. I was thinking: isn’t this report impressive enough? What exactly is the market nitpicking?
Later I realized, it’s not that people think the earnings this quarter are low, but they worry whether this money can be sustained. Everyone knows the old problem in the storage industry—during price hikes, everyone looks like a stock market genius, but once capacity loosens, profits collapse just as fast, flipping faster than turning a page.
So what really caught investors’ eyes at today’s investor day wasn’t how many times management mentioned “AI,” but that they finally started to directly address the core question: how can SanDisk shed the old label of being a "purely cyclical stock"?
The answer was quite straightforward. The company has already signed new long-term agreements with 8 customers, covering about half of shipments for fiscal 2027, and nearly two-thirds for fiscal 2028. In other words, they are locking in some demand and pricing in advance to avoid the rollercoaster of “feasting this year, fasting next year.”
More impressively, management laid out long-term targets: from fiscal 2028 to 2030, non-GAAP gross margin is expected to stay around 80%, adjusted free cash flow margin about 50%, and after necessary capital expenditures, all remaining cash will be returned to shareholders. Seeing this, I finally understood why the market was willing to pay up and applaud today.
Previously, everyone only saw NAND price hikes in $SNDK; now the company wants everyone to shift perspective—it’s not just selling storage chips, but the increasingly sought-after "data warehouse" space for AI data centers.
Of course, I’m not ready to shout about a starry sea just yet. Long-term targets are still targets; whether HBF can truly be realized, whether long-term contracts can sustain profits, and how much gross margin remains after NAND prices fall—all need to be verified quarter by quarter in future earnings reports.
But at least today, SanDisk showed the market a glimpse of change: it may still not escape the cycle’s fate, but behind this cycle, there’s now an AI data engine that never shuts down.
Compute handles thinking, storage handles memory. In the past, all the spotlight was on compute power; now finally someone is seriously looking at the storage piece of the puzzle.
$ETH
#闪迪投资者日后，长期目标成焦点
#CPI与PPI同步降温，加息分歧扩大
#标普收盘再创新高，8000点预期升温