News linked to both this project and an event.
Market data shows that hedge funds recorded net purchases of approximately $4.8 billion in US stocks last week, marking the second-largest weekly buying scale since 2008. Measured as a share of the S&P 500's total market capitalization, this buying scale ranks as the 24th highest in history, indicating that hedge funds are re-intensifying their allocation to US equities.Meanwhile, institutional investors recorded net sales of approximately $3.8 billion in US stocks last week, ending a four-week consecutive buying streak. As a result, the average net buying scale of institutional investors over the past four weeks has fallen to $3.9 billion. Retail investors slightly reduced their US stock holdings by approximately $200 million during the same period, bringing their average net buying scale over the past four weeks down to $600 million.Market observers point out that after the recent market volatility, hedge funds are flowing back into US stock markets, with a strengthening trend in capital allocation toward risk assets. The large-scale buying by hedge funds may reflect renewed confidence in corporate earnings, AI-driven growth, and the medium-to-long-term trajectory of US equities. (The Kobeissi Letter)
According to Bloomberg reports, SpaceX stock performed relatively steadily on Thursday following the expiration of the lock-up period (lock-up agreement) restricting insiders from selling shares, involving the unlocking of up to approximately 911.5 million shares valued at about $100 billion based on current valuation. Trading data shows SpaceX stock price fluctuated within a range of less than 3% during early trading, as the market digests the potential selling pressure brought by this large-scale share release. Trading volume in the first 30 minutes after the opening approached 93 million shares, accounting for about 40% of the total volume of the previous trading day. This unlocking occurred shortly after SpaceX announced its first earnings report. Previously, SpaceX stock price once fell about 14% due to investor concerns that the company's investment scale in artificial intelligence business was higher than expected. However, most Wall Street analysts still maintain a long-term optimistic view on the company. Market focus includes SpaceX's future investment plans in AI, satellite internet, and mobile communication businesses. Despite facing capital expenditure pressure in the short term, analysts believe the company's leading position in rocket launches, Starlink satellite network, and commercial space sectors remains an important factor supporting its long-term valuation. This stock unlocking of about $100 billion has also become an important event for the market to test investor confidence after SpaceX's listing. The lack of significant stock price fluctuations indicates that the market had certain expectations regarding the liquidity release from internal shareholders.
Odaily News According to Arkham monitoring, BlackRock's spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), has recorded net capital inflows for multiple consecutive trading days this week, with investors increasing their Bitcoin holdings every day.Data shows that as of now, IBIT has purchased approximately $478.5 million worth of Bitcoin this week.Market analysts believe that the continued inflow of institutional capital into spot Bitcoin ETFs reflects the growing demand from traditional investors for digital asset allocation. As one of the world's largest asset management companies, the capital movements of BlackRock's IBIT are also regarded as an important indicator for measuring institutional investor participation in the Bitcoin market.
CryptoQuant stated that as crypto asset prices remain under pressure, large holders are increasing their positions in Bitcoin, Ethereum, and XRP, indicating they may be preparing for the next market cycle.The firm believes this behavior suggests the current bear market may have entered its final phase. However, CryptoQuant also emphasized that the market has not yet confirmed a bottom, and prices could still decline further.CryptoQuant Research Head Julio Moreno stated that the largest holder groups of BTC, ETH, and XRP are increasing their supply holdings as prices approach or fall below their realized prices. This shift in positioning helps reduce downward pressure and aligns with characteristics typical of the late stage of a cyclical downturn.Data shows that, excluding exchanges and mining pools, Bitcoin whale balances have rebounded from a low of approximately 2.87 million BTC in December 2025 to roughly 3.06 million BTC. This data also excludes holdings by ETFs or digital asset treasury companies.CryptoQuant noted that Bitcoin whale holdings have maintained a positive 30-day growth for most of 2026, and accumulation intensified when Bitcoin fell below $60,000 in June. However, current whale balances remain below the 2025 bull market peak of approximately 3.23 million BTC, suggesting there is still room for continued accumulation.
According to Odaily, despite spot Bitcoin ETFs recording net inflows of $211.5 million on Tuesday, the price of Bitcoin remained largely flat, hovering around $64,000. Analysts believe this movement resembles the market being compressed into a low-volatility state, rather than signaling an impending sharp decline.On the same day, spot Ethereum ETFs also recorded net inflows of $53.8 million. In the broader macro market, the S&P 500 index closed at a record high of 7,737 points on August 4, the Nasdaq rose 2.6% driven by AI earnings, and Brent crude oil fell below $80 due to easing tensions in the Strait of Hormuz.Wintermute OTC trader Jasper De Maere stated that ETF buying entering the market but failing to push Bitcoin's price higher is itself a key signal, indicating that marginal buyers in the spot market are not truly one-sided bulls. He believes that for Bitcoin to sustain its recovery narrative, it needs a clear breakout above $65,000 in the short term.Overall, analysts are interpreting the current Bitcoin price action as a form of "boring bottoming": no obvious panic selling, yet lacking strong upward momentum. ETF inflows provide support, but the price remains suppressed below key resistance, suggesting the market is still waiting for a clearer directional catalyst.
CryptoQuant analyst Darkfost stated on the X platform that the current Bitcoin (BTC) supply profit ratio is approximately 52%, meaning nearly half of Bitcoin holdings are still at a loss, and the market is approaching a key turning point in the bear market cycle.The analysis points out that historically, during each bear market, the Bitcoin profitable supply ratio eventually falls below 50%, entering a stage where "loss-making positions are in the majority." This typically signals further release of market pressure and serves as an important indicator of the late bear market phase.Data shows that in June and July of this year, the Bitcoin profitable supply ratio briefly fell below 50%, but overall it remained near the critical level. Analysts believe this indicates that the current bear market cycle has entered a deeper stage.The analysis states that regardless of where the final market bottom price lies, the Bitcoin market may currently be entering the final phase of the bear market.However, the profitable supply ratio only reflects the on-chain cost structure of holdings and cannot alone determine the market bottom. Further observation combining indicators such as capital flows, macroeconomic conditions, and market sentiment is still required.
CryptoQuant analyst Darkfost stated in a post that while Bitcoin continues to oscillate within the $60,000 to $65,000 range, the Binance Whale Inflow Ratio has risen to 0.52, hitting a new high in nearly four months. The rise in this indicator suggests that compared to retail and small-to-medium traders, whales have recently transferred more Bitcoin to Binance, implying that potential selling pressure in the market has increased.
According to Glassnode data reported by Odaily, the $63,000 level is emerging as a key support and battleground zone for Bitcoin (BTC) in the current market. Over the past few weeks, Bitcoin has continued to trade within the $60,000 to $67,000 range, with over 3% of BTC's circulating supply—approximately 515,000 BTC—having a cost basis concentrated near $63,000. Additionally, more than 362,000 BTC is concentrated in the $61,000 area. Glassnode notes that only the $78,000 to $82,000 range currently has a higher supply density than this zone, corresponding to Bitcoin's May cyclical peak.Furthermore, Bitcoin's current price nearly coincides with the 200-week moving average. Glassnode data shows that the 200-week MA currently stands at approximately $63,657, while BTC's price is around $63,822, indicating significant historical accumulation and strong cost support in this area.Looking at the 30-day cumulative Accumulation Trend Score, all types of investors are currently in a net accumulation state, with retail buying momentum being the most pronounced. Meanwhile, whale addresses holding more than 1,000 BTC continue to increase their positions, suggesting that long-term capital is still positioning itself. The $63,000 level has become a critical price band in Bitcoin's short-term market structure, and investor accumulation behavior may provide important reference for future price movements. (CoinDesk)
According to Jin10 Data, SpaceX will announce its first earnings report since listing after the US stock market close on Tuesday. Since listing on June 12, the company's stock price has fallen nearly 50% from its high, with market capitalization shrinking by over $500 billion. As of Monday's close, it was reported at $114.53, approximately 15% lower than the IPO issuance price. Market focus centers on three key areas: • Starlink: S&P Global expects Q2 revenue to reach $6.9 billion, primarily driven by Starlink, which is currently SpaceX's only profitable business segment; • AI: SpaceX's AI business revenue was $818 million in the first three months of this year. It has reached compute supply cooperation agreements with Google, Anthropic, etc., and acquired coding startup Cursor (approximately $60 billion); • Starship: The 13th test flight was completed, but the booster experienced a hard landing. Analyst firm Bernstein believes Starship is one of the most critical factors supporting the high valuation. Additionally, after the lock-up period ends on Thursday, over 911 million shares (market value approximately $100 billion) will be unlocked for circulation. Coupled with short selling funds' paper profits reaching $8.3 billion, market selling pressure cannot be ignored.
Odaily News: A new address opened a position of 40 million ENA approximately 3 hours ago, valued at around $3.69 million, with an average buy price of about $0.09269. Subsequently, the address staked all of its ENA into the Ethena protocol. Market data shows that ENA has risen by 18.13% over the past month.
Odaily News, July saw the U.S. manufacturing PMI rise to 55.6, the highest since 2022, with both production and employment recovering. However, strong demand and geopolitical inflation concerns have roiled the bond market, with Bank of America warning that the Federal Reserve is facing a credibility test. The hot manufacturing performance, coupled with geopolitical inflation threats, has sent U.S. Treasury markets into sharp turbulence. Long-dated Treasuries have recently faced heavy selling, with yields briefly surging to near two-decade highs.Mark Cabana, Head of U.S. Rates Strategy at Bank of America, commented on this, calling the bond market's violent swings a "textbook inflation credibility shock."Cabana noted that the core driver of the market turmoil is not the data itself, but the Fed's lack of policy communication. He specifically pointed to Fed Chair Kevin Warsh's performance at a recent press conference, arguing that Warsh failed to clearly articulate how the Fed would achieve its 2% inflation target."Standing firm on the inflation target is one thing, but if you don't tell the market the specific path, investors won't buy it," Cabana said bluntly in a Bloomberg TV interview. "The bond market cannot be fooled; it sees through all appearances." (Jin10)
Odaily News, Citrini analyst jukan stated on X platform that, according to Korean media reports, SK Hynix was previously unable to announce its shareholder return plan due to disclosure restrictions following its American Depositary Receipt (ADR) listing. The U.S. Securities and Exchange Commission restricts newly listed companies from disclosing material information not included in the prospectus for a certain period after listing, to avoid inconsistency with listing documents and potential exposure to U.S. securities law risks. The market generally believes this restriction period is 25 days from the listing date, including weekends. SK Hynix's ADR was listed in the United States on the 10th of last month.
Odaily News On-chain analytics firm Glassnode stated that the yield on Bitcoin's three-month futures basis has remained below the yield on the U.S. two-year Treasury note since February this year, a trend that has now persisted for several months.Glassnode pointed out that there has only been one similar instance in history where the duration of this condition came close to the current one, namely the period from August 2022 to January 2023, which ultimately corresponded to the low point of the previous market cycle.The firm stated that the prolonged slump in the futures basis not only reflects weak market demand for leverage but also directly impacts the overall depth and trading volume of the market.Analysts believe that the futures basis is typically used to gauge market risk appetite and demand for arbitrage funds. When the basis yield falls below the risk-free rate, it implies that investors are earning insufficient additional returns for the risk taken by holding Bitcoin futures, which may lead to reduced capital inflows into the futures market, thereby affecting liquidity and trading activity.
Odaily News - South Korea's financial regulatory authorities are pushing forward with amendments to the Capital Markets Act, planning to grant regulators "emergency intervention powers" to directly implement market stabilization measures during periods of severe stock market volatility. The Financial Services Commission (FSC) has initiated related legislative revisions together with the Financial Supervisory Service (FSS), focusing on single-stock leveraged ETF products that are believed to have amplified volatility during the recent market plunge. Proposed measures include adjusting leverage multiples and setting investment caps.Currently, certain single-stock leveraged ETFs in the Korean market employ leverage of up to 2x. Regulators are discussing whether to allow temporary reductions in leverage multiples during abnormal market fluctuations to mitigate risks arising from concentrated fund trading. This approach draws on recent regulatory measures in Hong Kong. The Securities and Futures Commission (SFC) of Hong Kong has previously permitted institutions that meet asset management capability, risk control standards, and disclosure requirements to adjust the multiples of listed leveraged and inverse products, providing room for dynamic market oversight.Korean regulators believe that under the current system, matters involving changes to return structures may require approval from fund holder meetings, making it difficult to meet the need for rapid response in extreme market environments. Therefore, they plan to establish an emergency regulatory mechanism that can be activated without complex procedures. Additionally, Korean financial regulators are considering: setting individual investment limits on single-stock leveraged ETFs, capping investment limits uniformly at approximately 20% to prevent excessive capital concentration, and introducing a simulation-based trading system to enhance investors' understanding of risks associated with leveraged products.Korean regulators stated that raising the basic margin requirement primarily raises the investment threshold, while investment limits function as a "cap" on capital inflows. Together, the two measures will form a complementary risk control system.Previously, starting July 31, South Korea raised the minimum margin requirement for investors in single-stock leveraged ETFs from 10 million Korean won to 30 million Korean won. Data shows that on the first day of the new rule's implementation, the trading volume of 16 related leveraged ETFs stood at approximately 3 trillion Korean won, only about one-fourth of the 12.4 trillion Korean won recorded the previous trading day and down roughly 80% from the 15 trillion Korean won level on July 29. (NATE)
Odaily News Crypto analyst Killa posted on X, stating that as BTC enters a new monthly cycle, a relatively clear bearish narrative has formed in the market. Therefore, the likelihood of an upward reaction at the start of the month is relatively high. The analyst noted that BTC is currently still in a consolidation range and is near the bear market low. Two possible scenarios may follow: first, a further decline breaking below $57,000 to complete the final pullback; second, an upward breakout starting this month, continuing the range-bound trend. Personally, the analyst leans toward BTC seeing an upward reaction of about 2%–4% at the start of the month, but does not rule out the possibility of continued downside afterward.
Odaily News: On-chain analyst Ai Yi posted on the X platform that the first pure-play storage ETF in the U.S. stock market, the DRAM Memory ETF, has included CXMT. The ETF was established on April 2, 2026, with a scale of $24.55 billion. Its return rate once reached 190%, and after the pullback in the storage sector, it still stands at 161.5%. Samsung, Micron, and SK Hynix together account for over 73% of the weight. Following GigaDevice, the ETF has again included a leading A-share storage company, with CXMT holding a weight of 2.52%.Since its listing on the STAR Market, CXMT's market value has remained above 3 trillion yuan and briefly exceeded 4 trillion yuan. Starting next Monday, it will exit the no price-limit phase and enter the regular trading stage.
Analyst Murphy stated that Bitcoin's current chip concentration is similar to that before the 2022 FTX collapse, and a highly concentrated chip structure could amplify price volatility. Jiang Zhuoer believes that if the CLARITY Act fails to pass before Congress adjourns, Bitcoin may witness the final drop of the bear market.
According to Korean media Daum, volatility in the South Korean stock market has recently intensified, investor risk appetite has clearly cooled, and funds are flowing back from the stock market to safe-haven assets such as banks. Due to adjustments in the semiconductor sector and stricter regulation on leveraged investment, idle funds in the South Korean stock market are withdrawing rapidly, and the market is exhibiting a phenomenon of "reverse capital migration". Data shows that as of the end of July, the time deposit balance at South Korea's five major banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) reached 973.49 trillion won, an increase of 24.09 trillion won from the end of the previous month, marking the largest single-month increase this year. Funds related to the stock market also showed significant contraction. According to data from the Korea Financial Investment Association, investor securities account deposits (idle funds for stock trading) reached a historical high of 139.69 trillion won on June 4, but as of July 28, had fallen to 107.20 trillion won, a decrease of over 32 trillion won in less than two months. The balance of credit transaction financing, representing the scale of market margin trading, fell to 33.19 trillion won during the same period, a decrease of about 4.5 trillion won from the peak of 37.72 trillion won set on July 2, a decline of approximately 12%.
CryptoQuant analyst Axel Adler Jr stated that data shows Bitcoin is shifting from short-term speculators to long-term holders. The share of Short-Term Holders (STH) has dropped to 23%, the lowest level since the bottoming phase from 2022 to 2023; meanwhile, the share of Long-Term Holders (LTH) is approaching historical highs.
According to The Block, the JPMorgan analyst team (led by Managing Director Nikolaos Panigirtzoglou) released a report on July 30 stating that the probability of the "Clarity Act" (Crypto Market Structure Act) passing in the US Senate within the year has dropped to a historic low. The Kalshi prediction market shows a passing probability of only 37%, while Polymarket is even lower at 26%. Analysts pointed out that disagreements on core issues such as ethical provisions, enforcement standards, stablecoin yields, decentralized finance, and illicit finance remain unresolved. Voting is expected to be difficult to complete before the Senate summer recess, and may be postponed until after senators return in mid-September.