News linked to both this project and an event.
Odaily News, Coinbase CEO Brian Armstrong said in an interview with CNBC that the crypto market may be on the verge of the next bull run. Armstrong stated: "I think we're probably on the cusp of the next bull market." He noted that the market will soon focus on the progress of the US CLARITY Act vote on September 15, as well as the seasonal effects brought by the Bitcoin halving cycle.He said that, based on historical patterns, in the cycles following Bitcoin halving events, October, November, and December are typically the months when Bitcoin performs best, and the market may usher in a new upward phase.Armstrong has repeatedly emphasized that improved regulatory conditions, institutional capital inflows, and the maturation of crypto infrastructure will be key factors driving the industry's long-term development. His recent remarks also reflect Coinbase's optimistic outlook on the shift in the coming market cycle. (BitcoinMagazine)
Odaily News - Bitcoin extended its gains on Wednesday and climbed above $72,000 on Thursday, reaching its highest level since June 1.Market analysis suggests that the recent rally is primarily driven by easing pressure in the U.S. Treasury market. The White House's earlier signals of support for Treasury market stability alleviated investor concerns over bond market volatility. However, the longer-term trajectory still depends on changes in Federal Reserve liquidity policy.Analyst Pedro Fontes noted that if the world's largest debt market requires policy support to maintain stable operation, it would further strengthen demand for assets that are scarce, predictable, and not reliant on government debt expansion—characteristics that Bitcoin aligns with. Meanwhile, the U.S. dollar index fell 0.88% to 98.77 yesterday, hitting a fresh low since May.Strive Founder and CEO Matt Cole stated that the dollar index has been in a long-term "structural downtrend," and a weaker dollar could create a more favorable investment environment for assets like Bitcoin. Markets will continue to monitor the White House's further remarks on the bond market, shifts in geopolitical conditions, and U.S. initial jobless claims data today, as these factors could influence Treasury yields and market liquidity expectations. (CoinDesk)
Odaily News: Despite the S&P 500's strong gains this year and continued capital inflows, historic seasonal selling periods, escalating geopolitical conflicts, and emerging consumer weakness are prompting Wall Street strategists to issue密集 risk warnings.The Chicago Board Options Exchange Volatility Index (VIX) fell sharply to 14.2 last Friday, marking its lowest level since 2026. The index, which measures expected market volatility over the next 30 days by tracking S&P 500 option prices, typically signals that market sentiment has settled into absolute calm when it declines. Jonathan Krinsky, Managing Director and Chief Market Technical Analyst at BTIG, noted that the performance of U.S. stocks in 2026 could be described as "unusual." Since last October, the market has not experienced an extreme single-day selloff where declining stocks accounted for as much as 80% of total volume.Quantitative trading giant Susquehanna described the current volatility reset as a "substantial" decline. The firm pointed out that cross-asset and geopolitical risks remain active, with two-month implied volatility slightly rebounding to 13.5%, approaching levels seen before the outbreak of the Iran conflict.Wall Street institutions generally view mid-August to mid-October as a historically turbulent period for the market. According to BTIG's statistical model, in every midterm election year since 1990, the equal-weighted S&P 500 has experienced at least a 7% drawdown from its average high on August 18 through mid-October.
Odaily News Bitfinex's latest report indicates that Bitcoin (BTC) has been fluctuating within a narrow range recently, with volatility, trading activity, and market liquidity all compressed to levels similar to those seen at the end of a bear market.Currently, Bitcoin's price remains above the "Median Realised Price" of around $63,200, while the key level for short-term holders (STH) to achieve overall profitability stands at $67,176. Meanwhile, market demand is weakening: U.S. spot Bitcoin ETFs recorded net outflows of approximately $385 million last week, corporate Bitcoin reserve-related activity has turned negative, spot trading volume has fallen to multi-year lows, and Bitcoin transfer speed has dropped to its lowest level in seven years.Bitfinex stated that in the current extremely thin liquidity environment, even slight changes in capital flows could trigger significant Bitcoin price fluctuations. At the same time, weak retail activity, declining real income, and deteriorating consumer confidence indicate that U.S. household demand is under pressure. Bitfinex noted that the current market shows a clear divergence: accommodative financial conditions are driving traditional risk assets higher, but the crypto market has not yet received corresponding capital inflows.Bitfinex believes that the core market question has shifted from "whether monetary policy will improve" to "whether improved liquidity can translate into capital inflows for crypto assets." If Bitcoin spot ETFs resume sustained net inflows in the future, coupled with stablecoin supply expansion, this would signal a restart of the crypto market's liquidity transmission mechanism and could become a key catalyst for BTC breaking out of its prolonged low-volatility state.Before capital returns, although the macro environment is gradually improving, the crypto market's upside still lacks capital support. However, given that market participation has dropped to extremely low levels and BTC continues to hold key realized price support levels, once liquidity re-enters the market, it could trigger violent fluctuations. The current structure leans toward an upward breakout once demand recovers.
According to 10x Research analysis, Bitcoin trading volume has contracted significantly to levels far below historical peaks, and prices have entered the narrowest trading range in months; historically, such patterns often indicate an imminent directional breakout. Implied volatility in the options market has fallen to rare lows, ETF inflows remain sluggish, stablecoins continue to experience net outflows, and MicroStrategy has even shifted to net selling for four consecutive weeks. Considering both the macroeconomic background and technicals, the market is currently in a "calm before the breakout" phase, and the directional choice may become clear within this week.
Odaily News: Goldman Sachs has disclosed the acquisition of ETF management firm NEOS Investments in a deal valued at up to $2.25 billion, which is expected to close in the first quarter of 2027 pending regulatory approval. The market views this move as a way for Goldman Sachs to quickly enter the Bitcoin yield ETF space, potentially putting it ahead of BlackRock in the Wall Street crypto asset competition.NEOS currently manages approximately $30 billion in assets, with its most notable product being the Bitcoin yield ETF BTCI (NEOS Bitcoin High Income ETF), which holds about $1.1 billion in assets. The fund generates monthly income for investors by holding Bitcoin-related ETFs and selling call options, currently offering a distribution yield of approximately 27%.Bloomberg ETF analyst Eric Balchunas stated that by acquiring NEOS, Goldman Sachs gains BTCI, effectively bypassing the need to build a similar product from scratch and "beating" BlackRock's previously launched Bitcoin yield ETF product, BITA.Goldman Sachs' deal is seen by the market as a new phase in Wall Street's crypto asset positioning. Industry insiders believe that Bitcoin spot ETFs represent the "first phase," while active management products based on Bitcoin, such as yield enhancement and options strategies, will become the focus of competition in the next phase.However, BTCI's high yield comes with risks. The product does not directly hold Bitcoin but instead generates returns by selling call options on Bitcoin-related ETFs, potentially sacrificing some upside when the market rallies. Analysts note that BTCI's net asset value has fallen approximately 43% over the past year, and part of its high distribution yield may come from return of capital.BlackRock has already launched a competing product, BITA, but its current scale is approximately $59 million, significantly lower than BTCI's roughly $1.1 billion in assets. The market is watching whether Goldman Sachs will maintain BTCI's existing structure after the acquisition is completed and further expand its competitive advantage in the Bitcoin yield product market. (Forbes)
According to monitoring by on-chain analyst Ember (@EmberCN), market maker Cumberland has successively transferred 3.72 million UNI (approximately $12.63 million) to multiple centralized exchanges including Binance, Coinbase, OKX, and Bybit over the past 23 hours, suspected of distributing positions.
Odaily News, Glassnode reports that Bitcoin is currently trading between a median realized price of approximately $63,000 and a short-term holder cost basis of approximately $68,700. Spot trading volumes have dropped to their lowest levels since 2019, with the market in an extremely quiet state of compression. Core inflation fell to 2.5% in July and stock markets hit new highs, yet Bitcoin has shown almost no reaction or has even weakened, indicating a clear absence of demand. Selling pressure is subsiding, with profitable supply approaching levels seen at previous bear market bottoms. The seller exhaustion indicator has hit cycle lows, and the adjusted SOPR has been rejected near the breakeven line nine times.Meanwhile, buyers continue to stay on the sidelines, with negligible net inflows into ETFs and Bitcoin still flowing into exchanges. Derivatives leverage has already been heavily skewed toward longs ahead of time, open interest remains relatively high compared to trading volume, and order book bid depth is thinning. Glassnode identifies key levels to watch at approximately $68,700 to the upside and $58,500 to the downside. Only a decisive break above the former, accompanied by a recovery in trading volumes and ETF inflows, would confirm market improvement. If the latter is lost, an accelerated decline is likely given thin buying support and crowded long positioning. Glassnode states that Bitcoin is currently in the late-stage bear market compression phase, and no genuine demand signal has yet emerged.
Bitwise Chief Investment Officer Matt Hougan stated in an interview with Bloomberg that the Bitcoin price has not reacted significantly to negative news recently, such as the Coldcard security incident, Strategy sell-off, and the CLARITY Act's progress falling short of expectations, which may indicate that Bitcoin has approached or reached the bottom of this bear market.
According to CoinDesk, data from Blockware Intelligence shows that listed Bitcoin miners held a total of 127,000 BTC at the beginning of the year, which has now decreased to 99,000. Cumulative sell-offs within the year amount to approximately 28,000 BTC, valued at about $1.78 billion at current prices. Analysis points out that although this sell-off volume is smaller than the net outflows of over $4.4 billion from U.S. spot Bitcoin ETFs, against the backdrop of a market downturn and weak buying pressure, the impact of consistent, steady marginal selling pressure on prices is often underestimated. BTC has cumulatively declined 27% since the beginning of 2026, underperforming major assets including the S&P 500. Furthermore, impacted by narrowing mining profits (the current average production cost per BTC is approximately $74,300), an increasing number of miners are pivoting to AI computing power businesses. Meanwhile, network-wide mining difficulty has dropped by about 18% from its November peak, and mining revenue for remaining miners has correspondingly increased by about 18%, as the industry competitive landscape is being reshaped.
Odaily News, Citrini analyst jukan stated on the X platform that Temasek, one of Asia's largest sovereign wealth funds, is making new investments in Samsung Electronics and SK Hynix, marking Temasek's first foray into the Korean stock market.It is understood that Temasek believes memory semiconductors represent the lowest-valued segment within the AI value chain. An industry insider noted: "Temasek's investment approach is to allocate substantial capital to market-leading sectors from a long-term perspective. Samsung and SK Hynix have surged more than 880% from their lows last year, but this move indicates Temasek is confident the rally will continue."
: Retail bearish sentiment has hit a new multi-year record, while institutional positioning lags even further behind. As U.S. equities face an unprecedented disconnect between fundamentals and capital flows, analysts predict a rare "Wall Street expectation gap" is now underway. Last week, the S&P 500 index posted a cumulative gain of 22% since late March and broke through the 7,700-point mark for the first time in history. As investors digested the latest batch of earnings reports, the benchmark index closed roughly flat on Monday.Strategists at 22V Research have observed a notable divergence between the AAII Bull-Bear Spread and the firm's proprietary economic data index, which tracks a range of U.S. macro data releases. According to the firm's model, the current valuation deviation implies that the S&P 500 will rise by 1.6%, 5.1%, and 7.8% over the next one, three, and six months, respectively.Dennis DeBusschere, President and Chief Market Strategist at 22V Research, wrote in a note to clients: "The current reading of investor sentiment relative to economic data suggests market returns will be above normal levels."Alastair Pinder, Global Equity Strategist at HSBC, also noted that the many macro concerns that have emerged over the past few weeks have indeed given investors ample reason to question the current stock market rally.
Odaily News According to Gate Ventures' latest weekly report, global risk assets have shown a clear recovery over the past week, with major US stock indices collectively hitting new all-time highs. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average rose 3.58%, 5.19%, and 2.96%, respectively. The crypto market also rebounded in tandem, with BTC up 2.1% on the week and ETH up 1.4%, bringing the total cryptocurrency market cap up 1.4%. On the capital flows front, BTC spot ETFs recorded net inflows of $853 million for the week, while ETH spot ETFs saw net inflows of $244.9 million, indicating further improvement in institutional demand.In terms of industry developments, the integration of traditional finance and blockchain continues to advance. BlackRock has appointed JPMorgan to push forward the tokenization of a European money market fund, exploring 24/7 transfer of blockchain-based fund shares. Grayscale has filed an S-1 registration statement for the first US Worldcoin ETF, further deepening the connection between digital assets and traditional financial markets. Stablecoin infrastructure also remained active, with Yellow Card completing a $40 million strategic funding round and planning to expand its stablecoin account and payment infrastructure into Latin America and the Asia-Pacific markets.On the investment and financing front, eight deals were completed last week, with total disclosed funding reaching $90.64 million, focused on the infrastructure track. Overall, market risk appetite has seen some recovery, with institutional-grade blockchain infrastructure, stablecoins, and asset tokenization remaining key areas of continued industry focus.
Last week, major assets closed higher across the board: July Non-Farm Payrolls -23k severely dampened rate hike expectations, the USD broke below 100, and Gold and Crypto benefited in tandem. BTC/ETH ETF weekly net inflows were $853M/$245M, the third-largest institutional buying week of the year. Core risk this week: 8/12 CPI (08:30 ET), determining the direction of September rate hike expectations. Strategy advances on three fronts: Sell ETH weekly expiry $1,800 P (annualized ~15-20%), Sell HYPE 1D $52 P (annualized ~70%, newly listed on Bybit), Sell XAUT 1D $4,360 C (annualized ~30-60%). All three positions must be reduced to safe levels before CPI.
According to Yonhap News, the phenomenon of "reverse Kimchi premium" in South Korea's virtual asset market has continued to intensify since the beginning of this year. According to monitoring by on-chain data platform CryptoQuant, the average Bitcoin Kimchi premium index in early August was -0.48%, and the Ethereum average was -0.49%, meaning domestic prices were lower than those on overseas exchanges. Of the 221 days this year, the number of days with a reverse Bitcoin Kimchi premium reached 123, marking the first time since CryptoQuant began tracking this data in July 2020 that it exceeded the number of days with a positive premium. The record for the longest consecutive streak was also recently broken—from June 20 to July 24 this year, a reverse premium was recorded for 35 consecutive days, surpassing the previous historical record of 23 days. Analysts noted that the continued expansion of the reverse Kimchi premium mainly stems from three factors: first, the South Korean stock market has continued to strengthen, attracting a large number of investors to shift away from the crypto market; second, tighter regulations have prevented new services such as derivatives from being launched, suppressing the inflow of new funds; third, the crypto asset taxation policy is about to be implemented, further depressing investment attractiveness.
Odaily News: Unitree Robotics officially opened IPO subscription on the STAR Market today. According to the announcement, Unitree Robotics' offering price is set at 150.80 yuan per share, with a market capitalization of approximately 60.993 billion yuan at the time of listing, and an expected total fundraising amount of 6.099 billion yuan. The online subscription code for this offering is 787836, with an expected online issuance of 6.471 million shares. The market estimates the lottery win rate at 0.02%–0.03%. It should be noted that after the subscription period concludes, the lottery results will be announced on August 12, and successful investors must complete payment on the same day. If an investor wins the lottery three times within 12 months but fails to make full payment, they will be restricted from participating in new stock and bond subscriptions for six months.Yang Chao, chief strategy analyst at China Galaxy Securities, noted that the capital threshold for participating in this IPO subscription is relatively high, and the lottery win rate is low. Share prices are likely to experience significant volatility in the early stages of the STAR Market listing. Investors should fully assess the risks associated with the high valuation and ensure timely and full payment if selected, avoiding missed payments that could trigger subscription restrictions.
Odaily News, According to Lookonchain monitoring, BlackRock's Bitcoin ETF has recorded net BTC inflows for four consecutive trading days. Over the past four trading days, BlackRock's related products have accumulated approximately 9,269 Bitcoin (worth about $604 million).Market analysts noted that sustained institutional inflows indicate that investor demand for Bitcoin remains strong in the long term. As spot Bitcoin ETFs become a key channel for traditional capital to enter the crypto market, ETF fund flows have emerged as an important gauge of institutional market sentiment.
Odaily News: Whale "Set 10 Big Goals First" shared market views on X platform, writing "the last chance to get on board." Previously, they noted that the current market offers too low a risk-reward ratio for shorting, and that it is already a stage-by-stage bottom. They also sense that Bitcoin is likely about to break out and initiate a new round of upward momentum, fearing they might miss the starting signal.
Odaily News - Investment firm Bernstein recently released a report assigning different ratings to two major Bitcoin miners transitioning to AI infrastructure: maintaining an "Outperform" rating on CleanSpark with a price target of $24, and initiating coverage on MARA Holdings with a "Market-Perform" rating and a price target of $17.Bernstein analysts stated that the core reason for the valuation divergence between the two companies lies in their differing progress in executing AI infrastructure transitions. CleanSpark has already signed an anchor tenant agreement for an AI data center and commenced construction, while MARA is still awaiting its first commercial AI contract.Regarding CleanSpark, the company previously announced the signing of a 20-year triple-net lease agreement with a global high-investment-grade technology firm, covering 175MW of IT capacity at its Sandersville, Georgia project. The agreement also includes exclusive cooperation arrangements for CleanSpark's total 885MW asset portfolio in Texas. Bernstein believes that CleanSpark's collaboration with tenant-designated engineering and construction contractors helps mitigate risks associated with its first large-scale AI infrastructure deployment. The first data center hall is expected to become operational in the fourth quarter of 2027.In contrast, Bernstein's assessment of MARA is more cautious. Analysts pointed out that the first commercial AI contract will serve as a key catalyst for a re-rating of MARA's stock, noting that company management previously indicated expectations of signing at least two AI lease agreements by the end of this year. (The Block)
Odaily News: Bitcoin's volatility has recently neared zero, but market risks have not been resolved. Data shows that spot Bitcoin ETFs have not seen any outflows in the first week of August, with cumulative net inflows of approximately $754 million. However, Bitcoin's price remains around $64,700, while the options market is heavily focused on downside protection near $62,000 and $63,000.Market signals are showing divergence: on one hand, demand for spot ETFs has picked up again; on the other hand, derivatives traders are positioning in advance for a potential pullback, especially ahead of the latest U.S. employment data release.However, looking at the overall positioning structure, the market still leans bullish. Bitcoin call options account for approximately 60.7% of total open interest, indicating that investors' long-term expectations remain positive, with recent trading more concentrated on short-term risk hedging. Meanwhile, the cost of volatility protection remains low. Deribit's DVOL index, which reflects Bitcoin's expected volatility over the next 30 days, is currently around 35—a significant drop from the high of 90 earlier this year—suggesting that the market sees limited potential for major swings in the short term.That said, U.S. macroeconomic data could break this balance. The market expects U.S. non-farm payrolls for July to increase by approximately 97,500, up from 57,000 in June, with the unemployment rate expected to hold at 4.2%. If the employment data comes in stronger than expected, it could push U.S. Treasury yields higher and reinforce expectations of Fed rate hikes; if the data is weak, it could push yields down, but also heighten concerns about slowing economic growth.Currently, the Bitcoin market presents a pattern of "ETF inflows underpinning spot prices while the options market hedges against downside." Potential risks remain a concern in a low-volatility environment. With low market participation and insufficient liquidity, even small changes in supply or demand could trigger sharp swings in asset prices. (CoinDesk)