(Market Data)
· BTC Price: $78,762 (24h -1.27%)
· Funding Rate: +0.0067%
· Fear & Greed Index: 80 (Extreme Greed)
(Key Events Ahead)
· No major macro events tonight
(Bitcoin · Major Catalyst)
· On August 19, the U.S. Treasury raised the maximum size of each buyback operation for 10- to 30-year Treasury securities from $2 billion to at least $4 billion. On the same day, the 30-year Treasury yield fell 14 basis points to 5.19%, Bitcoin surged toward $80,000, and billions of dollars in short positions were liquidated.
· Key Catalyst: The Treasury’s expanded buyback program strengthened expectations for improved liquidity, while falling long-term yields increased investors’ appetite for risk assets.
(Bitcoin · High Volatility)
· Bitcoin broke above $81,000 to reach a new all-time high, recording a 24-hour gain of 4.51%, before pulling back to $78,762. Market volatility has intensified amid extreme greed.
· Key Catalyst: Expectations surrounding the Treasury’s buyback policy, combined with continued institutional capital inflows, helped Bitcoin break through a key resistance level.
(Strategy · Capital Inflows)
· Strategy’s Bitcoin holdings shifted from an unrealized loss of more than $9.5 billion to an unrealized gain exceeding $4.7 billion within one week. However, while Bitcoin rose 13% and moved above $70,000, Strategy did not purchase any additional Bitcoin. Instead, it sold 18.26 million common shares to raise approximately $2 billion, bringing its total U.S. dollar liquidity to $6.69 billion.
· Key Catalyst: The largest corporate Bitcoin buyer stopped purchasing as prices rose and accumulated cash, potentially indicating greater caution about the short-term market or preparation for a larger move.
(Solana · Major Catalyst)
· The Solana community is advancing two governance proposals, SGP-0002 and SGP-0003. SGP-0003 is expected to increase the daily SOL burn from approximately 650 tokens, worth about $65,000, to between 7,500 and 9,000 tokens, worth approximately $750,000 to $900,000. SGP-0002 could reduce SOL issuance by approximately 18.9 million tokens over the next six years, worth about $1.89 billion at current prices. However, voter turnout for both proposals remains below 17%, leaving them short of the one-third participation threshold.
· Key Catalyst: If approved, the supply-tightening proposals would significantly alter SOL’s inflation rate and burn volume, strengthening expectations of greater token scarcity.
(HYPE / Hyperliquid · High Volatility)
· On August 22, HYPE surpassed $80 to set a new all-time high as meme-token activity accelerated on HyperEVM. However, during periods of network congestion, gas fees for a simple swap can exceed $10 and reach $20 in extreme cases. Infrastructure bottlenecks are limiting the network’s ability to absorb speculative demand.
· Key Catalyst: HyperEVM’s dual-block architecture has exposed performance bottlenecks under heavy traffic, making Layer 2 development a key focus for the market.
(KOSPI Index / South Korean Stock Market · Extreme Sentiment)
· On August 25, South Korea’s KOSPI Index fell 4.00% intraday, with Samsung Electronics declining 4% and SK Hynix falling 6%, reflecting deteriorating regional risk sentiment.
· Key Catalyst: A sharp decline in South Korean equities may weaken risk appetite across Asian markets and affect sentiment in the cryptocurrency market.
· On August 24, U.S. spot Bitcoin ETFs recorded combined net inflows of $337.6 million, including $208.9 million into BlackRock’s IBIT and $104.6 million into Fidelity’s FBTC. Spot Ethereum ETFs recorded combined net inflows of $115.6 million, including $90.9 million into BlackRock’s ETHA. These substantial single-day inflows reflect continued institutional capital allocation to the cryptocurrency market.
(Regulation / Sanctions / Licensing)
· U.S. Treasury Secretary Bessent launched secondary sanctions under the codename “Operation Economic Outcasts,” targeting five areas: digital assets, technology, gold, aviation, and shipping. Nearly 60 individuals, entities, and vessels were added to the sanctions list. Before the announcement, the rial had already fallen below 2 million per U.S. dollar, reaching a historic low.
· India’s state-owned power financing company REC plans to issue its first tokenized bond in September. The issuance will be smaller than 5 billion rupees, approximately $57 million, and will use blockchain technology and wholesale central bank digital currency wallets for settlement. The bond will initially have a three-month maturity, with a secondary market expected to be established in December.
· The U.S. SEC has issued subpoenas to several Wall Street banks, including Goldman Sachs, JPMorgan, Citigroup, and Bank of America, as part of an investigation into trades by AI hedge fund Situational Awareness, which nearly collapsed last month. The SEC requested records concerning trade timing and communications related to leverage. The investigation remains in its earliest stages.
(Security Incidents)
· Cosmos Labs stated that an ongoing security incident has affected users of the Cosmos EVM module. Its security and engineering teams are actively responding and have advised Cosmos EVM chains in contact with them to ask validators to pause chain operations. An incident report will be published after the situation is resolved.
〔Global/Universal〕
· Mid-Platform - Upgraded User Rewards Hub Tasks - August (Futures)
· Alpha User August Merchandise Benefits Collection Page (Futures)
· August Mid-Platform VIP Trading Competition - Top Player U.S. Stock Mystery Box (Futures)
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