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The idea given last night was to position in the low range, and all have triggered an upward trend.
The most reassuring thing in trading is to clearly sort out support and target ranges in advance, not chasing highs or selling lows, holding the ambush positions well, and waiting quietly for the market to unfold on its own. #沃勒：8月通胀决定9月是否加息 #财报观察员：博通业绩超预期，Snowflake上调指引 #Robinhood链放量，ARB收入叙事升温 Yesterday's bullish candle was strong, and today's sideways consolidation at a high level is quite normal. BTC's current price is 81,300, basically flat compared to the August high of 81,300–81,500, which means the early September pullback has been fully recovered. Next is the choice: break through 83,000 to open a new range, or trade sideways between 80,000–83,000. I am more optimistic that the latter will happen first. Strategically, keep holding the base position, add more on pullbacks, and take profits in batches around 82,500.
$BTC "Big Short" Michael Burry Reveals: Lululemon Becomes His Largest Holding, Will Increase Position If It Falls Below $100 Michael Burry, an investor known as a "Big Short," revealed in his column Cassandra Unchained that Lululemon Athletica (LULU) is currently the largest holding in his portfolio. He stated that if the stock price falls below $100, he will actively buy. His average holding cost is around $120, and he has repeatedly publicly called the stock "unbearably cheap." Burry described LULU as the "troublemaker" in his portfolio, a phrase that reveals both dissatisfaction with the stock's ongoing decline and his determination to increase his position against the trend. According to disclosures, Burry has previously increased his holdings multiple times, with an average cost around $120, while Lululemon's stock price has been steadily falling from its peak in recent years, with its valuation shrinking—this is exactly why he sees it as "cheap to the point of being grating." What's even more noteworthy is that Burry previously proposed a long-term scenario: at the current valuation level, Lululemon could become a target for founder buybacks or private equity acquisitions. This means that, in his view, the stock has potential upside opportunities catalyzed by mergers and acquisitions, rather than simply being a distressed stock. As an investor known for accurately predicting the 2008 subprime mortgage crisis, Burry's holdings disclosures often attract market attention,CRYPTO TREASURY: THE FLOW IS SHIFTING
$BTC ETF: +$101.15M on Sept. 2, reversing the previous day’s $236.5M outflow.
$ETH ETF: Its 12-day inflow streak has ended.
$SOL ETF: Recorded its first outflow after an extended inflow streak.
$HYPE ETF: Added to Hashdex’s U.S.-listed crypto index ETF with a 3.4% weighting.
Despite volatility, treasury firms keep accumulating. The real test: CryptoTreasuryDurability — who can keep buying through rough markets?$BTC This rebound might be more important than many people imagine.
Yesterday it hit a low near 76,992, then rallied all the way up, reaching a high near 82,178, and finally settled back above 81K.
From the trend, the market has already started trying to reverse the previous weak momentum.
But we can't rush to call it a "new big rally" just yet.
Because there is still obvious resistance above 82K.
If BTC can break through around 82.2K and hold steady after the breakout, then market focus will gradually shift to 85K, 88K, and even 90K.
Conversely, if it falls below 80K after the surge, it means this rally still needs time to digest.
What I’m more concerned about is:
After the breakout, will BTC dare to retest the support?
A truly strong market isn’t one that just keeps rising, but one where after the rise, a pullback still finds buyers.
So this time I’m not guessing the top.
I’m waiting for BTC to confirm the direction with price.Let's look at the data first: The coin is xyz:CRWV, the position is long, with 4x leverage, weighted entry price at 81.77, position size of $71,850, involving 1 trader, and the current market price is not displayed.
4x leverage is not extreme, but with a large position size, the emotional pressure caused by volatility is amplified. When making profits, one feels invincible; after a few drawdowns, hands start to shake.
The profit from going long comes from the capital efficiency brought by price increases, while the risk is that losses are amplified simultaneously when the price drops. The heavier the position, the less you can rely on "it will come back eventually" as risk control.
The screenshot doesn't show this is an emotional trade, nor can it confirm the direction is wrong; but if stop loss and maximum loss are not clearly defined in advance, it's not a trading plan, it's fooling the market with hope.
A blunt word from an experienced trader: The entry price is just a record of entry, not a promise that the price must return. 4x leverage is not a low-risk talisman; stubbornly holding on only surrenders the initiative.
Cut losses when necessary, first secure the qualification to stay in the game. Don't wait until the position is out of control and close to forced liquidation to realize you don't even have the chips to admit your mistake.9.4$BTC Silk Road Today
Entry: Buy on pullback near 80100 and stabilize
Stop loss: 78500 #沃勒：8月通胀决定9月是否加息
First target 81300
Second target 82000‑82280
Ultimate target: 83000Today, Bitcoin temporarily broke through $81,000, seemingly breaking the curse of falling after every meeting once again. Honestly, my $BTC dual-currency option expiring today still chose a 5% drop, set at $73,800, mainly due to concerns about escalating conflict between the US and Iran and the risk market pullback caused by rising oil prices.
However, I really have to thank Waller. Without his remarks, it would have been difficult for the US stock market and Bitcoin to withstand the pressure from oil prices and US Treasury bonds today. Many people only focused on the latter part of Waller's speech, which was that if inflation continues to rise in August, he would support a rate hike in September. But he also stated that as long as inflation continues to fall back toward 2%, he is willing to support keeping rates unchanged in September.
The market had originally pushed the probability of a September rate hike close to 60%, but after Waller's speech, it dropped to around 50%. Yields on two-year and ten-year US Treasuries both fell, and the US dollar index weakened accordingly, so the US stock market and Bitcoin immediately started to rise. Unfortunately, I hadn't heard Waller speak when I made the dual-currency trade.
For the risk market, rising oil prices are a risk transmitted later through inflation, while the decline in US Treasury yields and the dollar is a direct positive factor that can be traded today, so the market temporarily chose the latter. Additionally, Trump stated that the new round of military action against Iran would not last long, so the market did not price in a full-scale war escalation.
But if the war cannot end in the short term and oil prices cannot quickly recover, causing inflation to possibly continue rising, it would still not be good news for the market.📌BTC surged 24% in a single month, entering a digital gold pricing cycle?
⚠️Key caution: sudden liquidity reversal.
BTC-gold correlation has reached a multi-year high, with debt monetization expectations fueling the macro narrative.
But 86,000 is a solid strong resistance; tonight's non-farm payrolls and next week's CPI are potential liquidity disturbance sources.
Currently, chasing highs has average odds; it's better to wait for a pullback confirmation before participating.
This round of market divergence is obvious, not a broad-based rally:
✅$ARB｜Cash flow has already been realized
Robinhood Chain revenue sharing is in place, gas income is booming, fundamentals are solid.
Short-term overbought combined with September unlocking pressure, avoid blind chasing.
✅$LINK｜Cash flow is about to be realized
Linked with Bottomline connecting 600+ banks, covering an annual payment scale of 16 trillion.
Traditional payment infrastructure going on-chain opens long-term imagination space.
#沃勒：8月通胀决定9月是否加息
#Robinhood链放量，ARB收入叙事升温
$ETH $BTC $SOL Bitcoin just had a very strong rebound, and most of the market attributes it to one reason: the Fed becoming less hawkish after Christopher Waller's statement. That is true — but not enough. A new technical analysis by Reuters points out that the recent approximately 30% rise of BTC is also supported by the U.S. Treasury expanding its long-term bond buyback program (Treasury buybacks). At the same time, BTC has surpassed a series of important moving averages and is approaching the major resistance zone at $82,793. (Reuters) This is the real story $BTC full position long party night
To be honest, tonight feels a bit unreal.
BTC surged from over 76,000 all the way to 81,188, rising more than 5% in the past 24 hours. The Dow rose over 600 points, and the Nasdaq increased by 1.33%.
— July nonfarm payrolls -23,000, ADP small nonfarm only 38,000, various signs indicate the job market is cooling down. Plus, Fed Governor Waller hinted at a possible pause in rate hikes, so I judge that Friday's nonfarm payrolls will likely continue to weaken.
The only unexpected thing is that the data is exactly the same as July's. What does this mean? The market is telling you in the most straightforward way: stop raising rates.
— After the celebration often comes a pullback; my personal suggestion is to watch and wait. $BTC #FOMC前最后一组数据：本周五非农 Bitcoin is back to 80,000 USD. After this news came out, I actually became much calmer. I didn't buy when it surged before, and now that it has pulled back to around 76,000, I didn't dare to enter either. In the blink of an eye, it has risen back above 80,000. Currently, the market is controlled by institutions, with slow rises and fast drops, but each pullback raises the bottom. The non-farm payroll data comes out on Friday, and this round of the market will most likely wait for the data to be released before deciding the direction. $BTC $ETH $SOL Crypto Morning Brief
BTC suddenly surged again.
From around $77,000, it climbed all the way above $81,000, with a single-day increase close to 5%. But this time, the real driver behind the rally might not be some major positive news in the crypto world, but rather the Federal Reserve easing up a bit for the market.
Waller’s message is simple:
As long as inflation continues to cool down, there’s no need to rush rate hikes in September.
Once the market heard this, it immediately started repricing risk assets.
US Treasury yields dropped, the dollar weakened, and naturally BTC moved first.
So often, when BTC rises 5%, it doesn’t necessarily mean there’s 5% more crypto faith behind it.
It might just be that interest rate expectations eased a bit.
But this is where it’s easiest to get carried away.
Because Waller said “if inflation continues to cool,” not “the Fed is definitely not hiking rates.”
The condition still stands.
The data hasn’t come out yet, so whether above $80,000 is a new trend or just a quick rebound driven by macro expectations? Don’t rush to answer for the market.
$BTC $ETH $SOL Is mainstream capital all rising? $BTC even broke through the 80,000 mark yesterday. Tonight's data is the non-farm payroll, and I still remain bearish! Let the market maker help me get out of my position 😭😭😭
At 20:30 Beijing time tonight, the US will release August non-farm payroll data.
Currently, the market expects an increase of about 58,000 jobs, with the unemployment rate expected to remain at 4.1.
What’s more noteworthy is that the leading data isn’t particularly strong: August ADP private employment only increased by 38,000, below the market expectation of 48,000; while July non-farm payrolls actually decreased by 23,000.
So if tonight’s non-farm payroll is significantly below expectations, the market may re-trade the logic of "weaker employment → Fed policy shift," supporting risk assets, and $BTC might instead see a rapid rally.
Conversely, if the non-farm payroll is significantly stronger than expected, combined with no rise in the unemployment rate, then rate cut expectations may cool further, the dollar and US Treasury yields may strengthen, and $BTC will need to be cautious about continued short-term pressure.
#FOMC前最后一组数据：本周五非农
#非农前数据分化，9月加息预期升温 📌Breaking｜20 global financial giants jointly preparing a US dollar stablecoin
Goldman Sachs, Bank of America, Citibank, and other institutions have formed an alliance, planning to launch in the first half of 2027.
Members span North America, Europe, Asia, and the Middle East, with the number of institutions doubling compared to the initial phase.
Key point: It's not about adding another stablecoin, but traditional finance actively embracing blockchain payment and settlement.
Banks issuing stablecoins will connect the US dollar banking system with the on-chain world, benefiting the entire crypto infrastructure.
1: BTC: Digital gold, institutional entry strengthens long-term allocation logic
2: ETH: On-chain settlement, stablecoin scale expansion, infrastructure value revaluation
3: DOGE: More sentiment and payment narrative, real-world effectiveness still to be observed
Paradigm shift: Previously crypto wanted to enter Wall Street; now Wall Street is actively going on-chain.
#财报观察员：博通业绩超预期，Snowflake上调指引
#Robinhood链放量，ARB收入叙事升温
#21家金融机构拟推美元稳定币
$BTC $ETH $DOGE CRYPTO TREASURY THE NEXT TEST ISN’T DEMAND, IT’S DURABILITY.
The latest capital flows are showing that the crypto market is entering an interesting phase.
$BTC ETFs recorded approximately +$101.15M on September 2, reversing the previous day's roughly $236.5M outflow.
But while Bitcoin attracted fresh capital, the broader picture is becoming more mixed.
$ETH ETFs saw their 12-day inflow streak come to an end.
$SOL ETFs also recorded their first outflow after an extended period of positive flows.
And then there’s $HYPE.
HYPE has entered Hashdex’s U.S.-listed crypto index ETF with a 3.4% weighting, giving the asset another point of exposure within a traditional investment vehicle.
None of these developments should be viewed in isolation.
The more important question is what happens when volatility increases.
Because during strong markets, almost everyone can look like a long-term buyer.
The real test comes when prices fall, sentiment weakens and liquidity becomes more difficult to access.
That's where crypto treasury durability becomes important.
Companies and institutions that have accumulated BTC and other crypto assets are effectively making a long-term bet on the market.
But maintaining that strategy through volatility requires something more than conviction.
It requires capital.
If treasury firms continue accumulating during major pullbacks, it could demonstrate that institutional demand isn't purely dependent on short-term price momentum.
If accumulation slows dramatically when volatility increases, then the market may need to rely more heavily on ETF demand and traditional spot buyers.
That's why I'm watching both sides of the market.
ETF flows tell us where capital is moving today.
Treasury accumulation tells us who is willing to keep buying for tomorrow.
Bitcoin has already shown signs of renewed ETF demand.
Meanwhile, ETH and SOL are experiencing a cooling in their flow momentum.
The next phase will be about determining whether this is simply temporary repositioning or the beginning of a broader shift in capital allocation.$ZEC broke through the $900 mark directly last night, only $21 away from the target of $1000.
ZEC was even crazier than $BTC last night, as the hype around the first privacy coin ETF continues to ferment.
On 8/25, the Grayscale Zcash Trust will convert to a spot ETF (ZCSH) on NYSE Arca, the first US privacy coin spot channel, launching with hundreds of millions of dollars in AUM. Institutions can buy without managing shielded addresses themselves.
Grayscale's research frames optional privacy as a necessary defense against AI on-chain traceability, repositioning the compliance packaging from "toxic coin" to "in demand."
After the urgent fix of the shielded pool minting vulnerability in May–June, and Ironwood's closure of the old pool and public transition on 7/28, supply is verifiably reset—once the negative news is fully absorbed, the ETF rally can begin.
Last night, dovish signals from the Fed reignited the market rally, and $ZEC took the opportunity to chase and break previous highs.
This wave has also crushed many short sellers; it won't be long before ZEC breaks $1000.$BTC
According to the "Cost Distribution Heatmap," during the period from 8/4 to 8/18, there was a sudden intensive turnover of short-term chips (Figure 1, red area), with the price range around $63K-$65K.
In June to July, BTC stayed in the same position for a long time without a similar situation occurring.
After this period of intensive turnover, there was a sudden, abnormal, large, and rapid surge with no pauses in between.
It is obvious that before the surge, large funds had already accelerated the accumulation of chips in this range.
This makes it hard not to suspect that it was a "premeditated" action.
Interestingly, when we reviewed the data from January 2022, we saw the same situation (Figure 2).
Rapid accumulation, rapid surge, no time to react!
In other words, the red area is very likely the cost range where the main force accumulated chips.
The "main force" here is probably not an individual or a single institution, but a group of "smart money" with resources, background, strength, and the ability to foresee the market in advance.
I checked, and currently, wallets holding 100-1K and 1K-10K BTC have an average cost between $61K-$67K (Figure 3).
This exactly matches the price range of intensive turnover we observed before the surge.
By now, I think everyone already has the answer in mind.
Yes! Since no time is given to react, it is very likely that there will be no reversal, preventing others from getting on board at the main force's cost price. The strong rally in US stocks has also driven a solid opening for Hong Kong stocks today, with the Hang Seng Index opening 1.2% higher at 25,515 points, and the tech index rebounding 1.46%. Internet giants like JD.com, Baidu, and Tencent are all showing gains, while gold and semiconductor sectors are also very active.
On the surface, it looks like the easing of rate cut expectations is benefiting tech stocks, but a closer look reveals several implications:
First, sentiment recovery outweighs fundamental reversal.
The Hang Seng follows the US market rally, indicating that funds are currently focused on macro conditions and lack a clear leading theme. Although tech giants have rebounded, their fundamentals haven't shown surprises; this is more of a rebound from oversold levels.
Second, the activity in gold and semiconductors.
This shows that defensive sentiment among investors remains strong. Semiconductors are favored for domestic substitution, gold for hedging and long-term allocation. Funds are simultaneously buying tech for volatility plays and gold for stability—a classic hedging strategy.
Third, consumer and sporting goods continue to decline.
This exposes the pain point of weak domestic demand. Relying solely on rate cut expectations can only push valuations a bit but cannot drive real consumption.
What about the outlook?
Short-term rebound space shouldn't be overestimated. With high volatility in US stocks, any shift in external sentiment can easily cause a pullback in Hong Kong stocks. Moreover, the market is still a zero-sum game among existing funds, so the trend is likely sector rotation rather than a broad rally. If domestic consumption data fails to improve, the Hang Seng is likely to continue wide-range oscillations after a rally.
In terms of strategy, avoid blindly chasing highs. Focus on areas with strong policy support like AI implementation and semiconductors, or consider buying gold on dips for long-term hedging. These are more stable than chasing consumer and tech stocks at highs.
DYOR 📌$BTC Market Analysis｜BTC violently rebounds to reclaim 81000, ETH stands above 2500
BTC has risen from the 77,000 low point, reaching a high of 81,748, +5.3%; ETH stands above 2500, +4.8%.
This is not just a short squeeze; the rebound is mainly driven by macro factors:
✅ Bullard leans dovish: August inflation not surging, September FOMC likely no rate hike, CME rate hike probability down from 63.2% to 50.4%
✅ Initial jobless claims exceed expectations, labor market cooling, easing rate hike concerns
✅ Dollar drops 0.5% breaking below 99, 10Y US Treasury yield falls from 4.82% to 4.75%, dual decline in rates and dollar benefits high beta assets; gold +3.6%, Nasdaq +1.4% strengthen in sync
✅ 24h total liquidations on the network at 510 million, shorts at 416 million accounting for 81%, short squeeze accelerates the rise
✅ Capital divergence: BTC ETF net inflow of 101 million (led by IBIT), ETH ETF net outflow of 48.2 million, institutions prioritize BTC allocation
⚠️ This is a rebound driven by macro expectation repair, not a direct return of a bull market, avoid mindless chasing of highs.
#FOMC前最后一组数据：本周五非农
$BTC $LIT Crash or not, hedge first! Currently, the probability of a 25bp rate hike on 9/16 is 60-62%, so the question about non-farm payrolls is not "good or bad," but "hot enough to push the rate hike probability over 70%":
>70,000+ hourly wage ≥0.3% → Hawkish confirmation, rate hike probability surges above 70%, BTC loses 76k, LIT gives back its rebound.
+50,000 to 70,000 (consensus range) → Not surprising, rate hike probability steady at 60%, BTC consolidates at 76-78k, LIT hovers at 3.86-3.95
+20,000 to 50,000 → Slightly soft but no crash, market hesitates, first drops then watches if BTC can pull back
≤0 or unemployment rate breaks 4.2% → Recession narrative returns, rate hike probability falls below 40%, BTC rebounds above 78.5k, LIT thin market first kills longs then follows BTC's rebound—this scenario is the only one where your short position gets proven wrong, but with ADP at 38,000+ and initial claims at 206,000, a hard crash is unlikely!Here it is, ENA has a new move again. The buyback plan has officially started!
The expense switch proposal passed with 100% of the votes, and the programmatic buyback has been activated. Previous backtesting showed that the annualized buyback scale is about $52.7 million, accounting for approximately 3.36% of the current market value.
But looking closely at the rules, the buyback scale must follow the USDe supply.
Currently, it expands stepwise at thresholds of 7.5 billion, 10 billion, 15 billion, and 20 billion USD, and the current USDe supply is still some distance from the first threshold.
In other words, it has started, but the scale is not large.
The truly large-scale buyback still has to wait for USDe to pick up again. The direction is right, so let's keep observing.
$ENA #FOMC前最后一组数据：本周五非农 #财报观察员：博通业绩超预期，Snowflake上调指引 #Robinhood链放量，ARB收入叙事升温 In the afternoon, someone asked if $LIT could reach a new high again. I checked the chip distribution; the top ten addresses hold about 70% of the circulating supply, which is typical for a small coin with high control. Such tokens usually do not experience a straightforward, decisive one-way trend but rather rally for a while, then pause, exchanging time for space, gradually raising the baseline. From recent performance, since the start, the price has increased by over 100 points, with almost no decent pullbacks in between. This structure means that once selling pressure appears, the retracement could be rapid. Just now, there was indeed a wave of small sell orders on the market, with some short-term positions closed accordingly, which is a relatively comfortable rhythm. The liquidity of small coins is always a hidden risk; when the market is favorable, entry and exit are smooth, but once it turns, insufficient order depth may make it difficult to exit. Therefore, it is best to think clearly about your exit strategy before participating. Currently, with the non-farm payroll data release approaching, macro sentiment may amplify market volatility. Although the earnings reports from Broadcom and Snowflake were impressive, their direct boost to small-cap coins is limited. Overall, controlled coins are more suitable for seeking short-term opportunities during pullbacks; chasing highs is not cost-effective, and patiently waiting for better positions might be safer. Risk reminder: The market is highly volatile; please manage your positions rationally. This article does not constitute investment advice.Misconception: Many people think that when negative news hits, the market should naturally crash downward. But the market often doesn't; it loves to suddenly reverse and surge when everyone is collectively shorting. Have you ever wondered why every time you think you've figured out the direction, the market seems to target your positions? Today's market really plays with the psychology of leveraged traders. Holding short positions on BTC and ETH, originally waiting for Friday's non-farm payroll data combined with the Fed's hawkish stance to push prices down smoothly. But what happened? The data hasn't even been released yet, and the market itself has already surged upward. Watching the unrealized losses in the account gradually widen, the heart-pounding feeling is even more thrilling than a roller coaster. I stared at the order book for a long time; this rebound isn't some sudden positive news but the market pre-trading the expectation of "negative news landing." - Broadcom's earnings exceeded expectations, Snowflake raised guidance, and the AI narrative reignited sentiment in US tech stocks. This risk appetite recovery directly transmits to the crypto market, especially BTC and ETH, which are sensitive to USD liquidity. - Saudi Arabia's crude oil exports fell to a 9-year low, and the inflation worries caused by soaring oil prices theoretically suppress risk assets. But the market is currently choosing to ignore this negative news, indicating that short-term pricing power is not in macro data but in the liquidation logic of derivatives contracts. - Contract rates have been extremely negative for several consecutive days, with professional players betting on a decline. Such a highly crowded trade direction often fuels a market reversal. The denser the shorts, the stronger the motivation for market makers to push prices up. Now the most SPCX is near a relative high point, you can short a small position! BTC will shake out in September and rally in October, storage continues to be absorbed.
After this BTC rally in September, it will at most oscillate for a month.
October and November are the two strongest months for BTC all year: since 2010, October averages about 29%, November about 38%. September is historically the weakest, averaging a drop of about 3.1%, after the shakeout comes the strongest phase, definitely buy more during the oscillation.
Be bold to buy storage on dips: TrendForce raised the Q3 PC DRAM price increase forecast to 18%–23%, servers 13%–18%, mobile 8%–13%.
Samsung has about 70% of its 2026–2031 capacity already locked in long-term contracts with Nvidia, Microsoft, and Google, spot HBM is still more expensive than long-term contracts.
Spot prices are still rising, what's there to fear about stocks?
$SKHY #SPCX #BTC $SNDK $MU $BTC This market rally is really fierce 😂 $BTC surged all the way up near $81,400, quickly rising from the lows and pulling market sentiment from panic back to euphoria in a short time. $ETH also reclaimed above $2,500, but compared to BTC, its strength is still somewhat weaker. After the key support was taken back earlier, the pressure from the bears has clearly started to release. 🔥 Even more dramatic is the liquidation wave — as BTC rapidly surged, the market saw massive short liquidations, with data showing over $400 million in short liquidations in the crypto market, further creating a chain reaction of "rising → short squeeze → continued rise." So why is it suddenly so strong? The core reason is the change in Fed expectations. Fed Governor Christopher Waller’s latest remarks were clearly dovish: if upcoming data shows inflation continues to cool, he tends to support keeping rates unchanged in September; but if inflation heats up again, he does not rule out supporting a rate hike. The market quickly repriced, with the September rate hike probability dropping from about 63% to around 50%. Risk assets then collectively rebounded, and BTC broke above $80,000 again. 📊 But it’s still too early to say the "rate cut rally is confirmed." The real test is today — the US August nonfarm payroll data. The market currently expects about 58,000 new jobs and an unemployment rate around 4.1%. If employment weakens significantly, the market may further bet on easing; conversely, if the data beats expectations, rate hike concerns may heat up again. So this wave Last night, Fed Governor Waller delivered a “cooling dose” to the market, lowering the probability of a Fed rate cut from 65% to 50% at the September 16 meeting. Meanwhile, the Yen Carry Trade continues to heat up as JPY rises nearly 2% against the USD. The probability of a BoJ rate hike hit 80%, causing about 824 billion yen of foreign bonds to be sold off to bring funds back to Japan. These two factors pulled US bond yields down, triggering gains across many assets: 🟢 BTC touched $82K, ETH returned to $2.5K 🟢 Gold regained $4.5K 🟢 US stocks all 📌Gold｜ETF increased holdings by nearly 10 tons, rationally view the positive news before Nonfarm Payrolls
SPDR increased holdings by 9.98 tons in a single day on the 9.2nd, accumulating nearly 50 tons since August, with institutions using gold as a base position.
⚠️This increase before Nonfarm Payrolls is buying on expectations; it is not advisable to chase the price higher directly. Options implied volatility inversion indicates funds are preemptively speculating on the data, beware of data overheating pushing up the dollar.
✅Mid-term logic remains unchanged: central bank gold purchases, US Treasury credit discount, and falling real interest rates provide triple support for gold prices.
$XAU: Above 4400 is not an ideal buying point; if Nonfarm suppresses gold prices, focus on support at 4320‑4350.
Operation: Wait for the 20:30 Nonfarm release, distinguish between true and false pullbacks before acting, do not use mid-term positions to bet on short-term data fluctuations.
Also, a reminder to closely watch $BTC at the key level of 79000.
#FOMC前最后一组数据：本周五非农
$ETH $BTC The second is still destined to be the second!
$ETH hasn't told its own story yet; when BTC rises, it just sips along, but when BTC falls, it falls even harder.
Currently, 2600 above is a resistance level tested repeatedly recently; only a breakthrough can target 2800; 2400 below is support, and breaking it will lead to 2200.
ETF net outflow is 48 million, institutions are withdrawing. This contrasts sharply with BTC ETF net inflow, indicating institutions currently favor BTC more.
4Pectra upgrade is postponed to 2027, no new narrative in the short term. Layer2 competition is intense, with Arbitrum, Base, and Optimism splitting traffic and funds, making ETH's "ultrasound money" narrative a bit awkward.
So my approach is still mainly to wait and see. The ETH/BTC exchange rate has been falling, indicating funds are moving from BTC to altcoins, and ETH is not the first choice. I'll wait until Pectra has a clear timeline or ETF net inflow resumes.BTC surged from the daily low of 77,000, strongly reclaiming 81,000 (peak 81,748, +5.3%), while ETH simultaneously rose above 2,500 (+4.8%). This rally is not a pure short squeeze but a genuine rebound triggered by macro factors:
① Fed's Waller stating "no change" is the core catalyst: as long as August inflation doesn't spike, the FOMC on September 15–16 tends not to raise rates. CME's rate hike probability dropped sharply from 63.2% to 50.4%.
② Initial jobless claims exceeded expectations, indicating a cooling labor market, further suppressing rate hike expectations.
③ The US Dollar Index fell 0.5% below 99, and the 10-year US Treasury yield retreated from 4.82% to 4.75% — lower rates + weaker dollar = zero-coupon high Beta assets directly benefit, with BTC, gold (+3.6%), and the Nasdaq (+1.4%) rising in sync.
④ Shorts were squeezed: about $510 million liquidated across the network in 24h, with shorts accounting for $416 million (over 81%), accelerating the short squeeze and bullish candle.
⑤ Funding: BTC spot ETFs saw a daily net inflow of $101 million (IBIT led with $115 million buying), but ETH ETFs still had a net outflow of $48.2 million — institutions prefer BTC for re-entry, with ETH lagging behind.
Should you enter? This is a rebound driven by macro expectation repair, not a reckless bull run. It's here! This wave of recovery really makes the market feel different.
Bitcoin has reclaimed the $80,000 level, even surging to 82,000 in the early hours, though it didn't hold, the momentum is back. ETH also bounced back above 2,500, pushing the total market cap close to 2.8 trillion — a seven-month high.
But what's truly worth noting this time isn't just BTC's rise, but the altcoins starting to follow. ZEC surged 17%, and familiar names like ADA, DOGE, and XRP all rallied together, with SOL returning above $100. You can clearly feel that capital is beginning to spread out from BTC, and the bold are charging into more volatile assets.
Honestly, how far this rebound can go depends largely on tonight's non-farm payroll data. This is also the last major employment report before the September FOMC.
If the data is weak, reinforcing rate cut expectations, risk assets will likely push higher, and altcoin rotation could get even more active. Conversely, if employment data surprises on the strong side, market sentiment could quickly turn sour — after all, this rebound is largely priced in on anticipated rate cuts, and once expectations are adjusted, the pullback could be swift.
In short, the atmosphere is warming up, but don't get too carried away; wait for tonight's data to land. The market is always like this: don't fear missing out when prices rise, but the real opportunities often become clear only after the data is released.
$BTC $ETH
#FOMC前最后一组数据：本周五非农
#财报观察员：博通业绩超预期，Snowflake上调指引 #Robinhood链放量，ARB收入叙事升温 83,000 marks a life-or-death watershed! $BTC is about to break out with volume, or is it the bulls' last trap?
$BTC has returned to $80,000, but the market has not formed a consensus expectation.
Jiang Zhuoer cleared his position at $82,050, believing that the short 13-day consolidation is insufficient to break through $83,000 to $84,000, and the next step may be a pullback to $70,000 to $72,000.
Yi Lihua sees $76,300 as support but also believes that $86,000 is the real resistance level.
Meanwhile, the whale "Set 10 big targets first" posted on platform X that the "last chance to get on board points to $100,000."
The funding situation is also contradictory.
A mysterious whale sold out 167,900 ETH in 5 days, cashing out about $408 million.
Strive, however, holds up to $1.4 billion in potential buying power and plans to continue accumulating BTC.
The US already has 174 crypto ETFs, with IBIT managing about $61 billion, accounting for 38%. Institutional channels are becoming more mature, but funds are also more concentrated.
Trading terminal single-day volume exceeded $1 billion, with Robinhood Chain suddenly contributing over 90% of GMGN trading volume, indicating risk appetite is recovering but mainly flowing into short-term trading.
Right now, it’s not a simple bull vs. bear battle, but a simultaneous occurrence of long-term buying and short-term profit-taking.
If BTC breaks and holds $83,000 to $86,000 with volume, $100,000 may really not be far away.
If ETF funds weaken later, $70,000 to $72,000 could be the next test. $BTC ️ September has historically been a "troublesome autumn" for the crypto market, and this year might be no exception. Do you think Friday's non-farm payroll data will be a bombshell?
Historical data shows that September is one of the worst-performing months for BTC (average return -2.95%).
With the current surge in the 10-year US Treasury yield, the market is even starting to price in the possibility of a rate hike in September. Friday's non-farm payroll data hangs like the Sword of Damocles overhead.
Before there is any substantial easing in macro liquidity, the high volatility of altcoins will also be amplified during downturns.
Downside protection in the options market is concentrated in the 68,000-75,000 range, indicating that smart money is also guarding against a short-term pullback.
At this point, managing position size and keeping enough cash flow is more important than blindly chasing highs. $ETH $SOL #AVGODipsSNOWPops, Snowflake raises guidance #RobinhoodChainRevenue Am I a pig??
No!
I'm not a pig!
I tripled my coins; if I don't dare to short, that's the real pig!
Brothers, I, the hunter, have shorted!
$ZEC surged from 475 all the way to 936, nearly doubling.
Grayscale ETF listing, Ironwood upgrade, Coinbase launching wrapped ZEC.
Good news one after another, the story is more complete than anyone else's.
Market sentiment is heating up, the comment section is full of "privacy coin value returning" and "$1000 is just the starting point."
But have you thought about who will take over coins that have doubled?
First, the whales are running.
A whale holding 230,100 ZEC at a cost of $59.8, with an unrealized profit of $180 million, has not cashed out yet.
Do you think it will hold forever without selling? Or will it slowly sell after you chase in?
Second, the EU ban is already set in stone.
From July 10, 2027, all licensed exchanges in the EU will not be allowed to offer trading of privacy coins like Zcash.
ZEC will disappear from mainstream European exchanges.
Third, Coinbase itself issued a risk warning, saying wrapped ZEC has custody and cross-chain risks.
They warned about their own coin first—what signal is that?
Fourth, what is the essence of Zcash's "ETF gilding"?
Grayscale's parent company DCG urgently needs a new story to support its IPO valuation; the ZEC ETF's high 2.5% fee rate has become an important source of income.
Wall Street is packaging not privacy technology, but a compliant product stripped of regulatory risks.
Technical signals are even more naked.
ZEC shows a neutral structure at $808.9 but faces massive whale sell-offs; the stop-loss hunter detector shows buyer liquidity is being locked, usually signaling a decline.
MACD underwater death cross, bearish momentum dominates.
From 475 to 936, profit-taking piles up like a mountain.
How cost-effective is chasing longs at this position?
If you don't dare to short at this position, how am I different from a pig?
Target first looks at 850, break that and look at 800.
Direction unchanged, position unchanged.
I tripled my coins; if I don't dare to short, that's the real pig.
This round, I am bearish to the end.
$BTC
$ETH
#FOMC前最后一组数据：本周五非农 The $BTC price rebound is just an appearance; ETF fund data is the real indicator.
BTC is currently quoted at $81,320, but what is more noteworthy is the fund flow on September 3: Bitcoin spot ETFs saw a net inflow of $301.66 million in a single day, and Ethereum ETFs also recorded a net inflow of $68.02 million. The simultaneous capital inflow into the two major mainstream ETFs indicates that institutional funds are returning to the crypto market, with a clear shift in risk appetite.
However, fund transmission has a sequence. At this stage, BTC is still the first to absorb liquidity, ETH follows closely to start benefiting, while altcoins have not yet shown clear signals of confirmed funds. Whether they can follow the rise later remains to be observed.
Therefore, the core contradiction in the current market is no longer "whether funds will come"—this question has been answered. What really needs to be considered is: which direction will these incremental funds choose next? Will they continue to settle in the two major mainstream coins, BTC and ETH, or will they gradually spread to altcoins? This shift in flow will directly determine the main theme and rhythm of the next market cycle.Friday night's nonfarm payrolls report is the last major data before the September rate-setting meeting, basically setting the short-term direction.
First, let's look at the current situation.
The previous ADP employment data has already worsened, with only 38,000 new jobs added, below expectations; the Fed's own Beige Book also mentioned that employment growth is slowing in most regions, clearly showing a cooling in the job market.
But here comes the contradiction: the market still assigns a 62.3% probability that the Fed will raise rates in September.
Why hasn't the rate hike expectation dropped despite weak employment? The root cause is inflation.
Core PCE inflation has been stuck at 3.3% and won't go down; currently, more than half of the price subcomponents have year-over-year increases exceeding 3%, showing strong inflation stickiness, so the Fed dares not ease up. Officials' statements are cautious, only saying they will continue to observe and not directly stating no rate hike.
The key focus is tonight's nonfarm payrolls:
1) If the nonfarm data continues to be poor: employment weakens consecutively, even if inflation remains stubborn, the market will think the Fed won't dare to aggressively raise rates, so rate hike expectations will drop, which is short-term positive for crypto prices;
2) If the nonfarm data rebounds and employment remains strong: with both employment and inflation pressures unrelenting, rate hike expectations will heat up again, and the short-term market is likely to face downward pressure.
Right now, it's a tug-of-war between weakening employment and stubborn inflation. Tonight's nonfarm payrolls are the key to breaking this balance; the quality of the data will directly determine the overall trend leading up to the rate-setting meeting. $ETH 🔥$BTC Don't treat “locking BTC for yield” like a bank deposit, there are three main personas: native, wrapped, and inscribed
Newcomers often confuse the Bitcoin ecosystem. First, native staking/BTCFi: Babylon keeps BTC on the mainnet, secures PoS chains, earns penalties and rewards, no cross-chain bridges or wrapping; TVL varies widely by statistics, projections for 2026 range from about 4.8 billion to 5.6 billion, with some higher peaks, overall still niche. sBTC/Stacks, tBTC, exSat represent the other camp of “bringing BTC into contracts/cross-chain.” The key is not “how high the APY is,” but “whether BTC moves, who holds the keys, and how penalties are enforced if something goes wrong.”
Second, wrapped BTC: WBTC has about 125,000 tokens custodied by BitGo-like services, cbBTC about 73,000 tokens; advantage is easy access to ETH/other chain DeFi, disadvantage is custody plus bridge risk; suitable for liquidity provision, not for “pure BTC self-custody.” Third, inscriptions/Runes/Ordinals are no longer the sole mainline: Ordinals initially drove block space demand, Runes save some UTXO, but after Magic Eden exited Bitcoin NFTs, the market fragmented, now it’s more like “collectibles plus fee contribution,” not the ecosystem’s main engine.
Avoid mysticism in the observation framework: payments look at Lightning capacity/channel activity; smart contracts watch BitVM mainnet progress, Citrea/Stacks actual TVL. $BTC BTC surged to 82,285 in the early morning before pulling back, currently oscillating around 81,100. Last night's violent rally was the market pricing in a weak non-farm payroll in advance.
Macro data continues to send cooling signals:
· ADP "small non-farm": only increased by 38,000 in August, the lowest since January this year, far below the expected 48,000.
· Initial jobless claims: rose to 206,000 last week, slightly above expectations, indicating the labor market is indeed loosening.
· Rate hike expectations: CME data shows the probability of a rate hike in September remains around 62%, but the market is questioning whether this number is too high.
Tonight's non-farm payroll is the main event.
The market expects an increase of 58,000 and an unemployment rate of 4.1%. Bank of America's view is straightforward — non-farm payroll is just an "appetizer," CPI is the key to deciding whether to hike rates in September. A significantly lower-than-expected non-farm payroll may reduce the probability of a rate hike, but CPI will ultimately set the tone. Some analysts also believe that if non-farm payroll is weak, it may push for no rate hike in September.
Three scenarios:
· Increase over 70,000: rate hike expectations return to over 70%, BTC may retest 78,000-79,000.
· Increase of 30,000-50,000: in line with expectations, the market continues to be indecisive, oscillating between 80,000-82,000 awaiting CPI.
· Increase below 30,000 or even negative: rate hike expectations cool significantly, BTC is expected to challenge 82,500-83,000.
$BTC $ETH $SOL
#FOMC前最后一组数据：本周五非农 #### BTC Practical Trading Plan
| **Trade Direction** | **Trend-following Long (Buy on Pullback)** High consolidation phase after breaking through $80,000, following the main upward trend |
| **Recommended Entry** | **$80,200 – $80,600** Gradually build positions relying on the $80,000 key level and 1H EMA20 support zone |
| **Stop Loss Protection (SL)** | **$79,400** | Strict stop loss. If it breaks below $79,500, it indicates the breakout's validity is weakened |
| **First Take Profit (TP1)** | **$81,800** | Previous high dense selling pressure zone, close 50% and move stop to breakeven |
| **Second Take Profit (TP2)** | **$82,800 – $83,500** | Trend extension target zone |
| **Risk-Reward Ratio (R:R)** | **About 1 : 2.4** | Risk about $900 to aim for $2,200+ potential space |
$BTC Multicoin Capital is suspected to have sold $112 million worth of HYPE since 07.28, with an estimated profit of $64.08 million, yielding a return rate of over 134%😲
This entity had built a position of 4.95 million HYPE from Galaxy Digital at an average price of $32.32 between January and July this year. As the price of $HYPE continued to rise, it is suspected to have taken profits in batches on exchanges.
The most recent deposit was 3 hours ago (about 150,000 tokens, valued at $12.78 million)$BTC challenges 200 RMB to reach 20,000 RMB
$BTC currently holds 350 RMB
Woke up completely stunned, it was still 79,000 before I went to sleep yesterday, firmly believing it wouldn't hit 82,000,
Many shorts are probably as stunned as I am
This wave isn't caused by the Fed directly cutting interest rates and flooding the market, but by officials' statements changing market expectations for the September rate meeting, acting as the trigger for the rally.
This time the Fed only gave a dovish expectation, igniting the rally; the real violent surge that crushed the shorts was the short squeeze in the futures market.
We are far from entering a big liquidity injection cycle; the Fed's hands are tied by inflation. Whether the subsequent rally can hold depends on two points: first, whether inflation data can continue to weaken, and second, whether spot funds can support the market after the short squeeze ends.
Hold on with low leverage; if you get through this wave, $BTC #FOMC前最后一组数据：本周五非农 #财报观察员：博通业绩超预期，Snowflake上调指引 #FOMC前最后一组数据：本周五非农
Tonight's non-farm payrolls, I am bearish.
Stop believing the old script "weaker data means rate cuts are closer and the stock market rises," this time it's different.
The market has already priced in an 85% chance of a rate cut in September, which is equivalent to full expectations and an open card. At this point, no matter which way the non-farm payrolls go, it is bearish for the US stock market:
- Data exceeds expectations and strengthens: it directly shatters the rate cut fantasy, even pulling back rate hike expectations, US Treasury yields surge, and high-valuation tech stocks collapse first.
- Data continues to weaken: this is not good news either. July already saw a negative increase of 23,000 for the first time, August ADP hit a new low since January, corporate layoffs jumped 58% month-on-month, and hiring has not kept up at all. This is not "the Fed can ease," but a signal that the labor market is truly cooling and economic downward pressure has already reached the employment side.Shorts have been squeezed out: BTC breaks 81,000, the three brothers pop champagne together
BTC: In the early morning hour, $140 million worth of short positions were squeezed out
$BTC current price $80,800 (OKX perpetual 81,299), 24h +5.2%~5.5%, breaking through the 80,000 and 81,000 barriers in one go, marking the strongest close since May 14. One hour after the breakout, about $140 million in short positions were forcibly liquidated, with 96,000 liquidations across the network in 24h — this is not a pullback, it's a meat grinder. The culprit is just one statement: Waller said if inflation continues to cool in August, he supports no rate hike in September. CME's rate hike probability dropped from 63.2% to 50.4%, the US dollar index fell below 99, and gold followed suit, touching 4,500. August spot ETF net inflows reached $3.5 billion, the largest monthly inflow in over a year. 81,455 is the critical line (resistance on 8/25); holding above it targets 82,814, then 85,000–90,000. But with tonight's nonfarm payrolls and next week's CPI, anyone fully invested is handing money to the market makers.
ETH: The woman who left BTC behind
$ETH $2,500, 24h +5.2%, 30 days +33.7%, 90 days +60%. Why so strong? August spot ETFs have bought for 10 consecutive trading days, totaling $1.52 billion, the strongest month since ETH launched in 2024, with a single-day peak of $226 million, a ten-month high. BlackRock's ETHA alone accounts for 72%. On the supply side, even more aggressive: 42 million ETH locked in staking, exchange balances down 15% since June — the supply is getting thinner, so any new money can push through easily. 2,550 is the key hurdle; breaking it, the sister calls for 2,800; if it pulls back to 2,430 but holds, just buy with eyes closed.
- BTC: Support 80,000 → 78,000; Resistance 81,455 → 82,814 (May high) → 85,000–90,000
- ETH: Support 2,431 → 2,400 → 2,306 (on-chain average cost); Resistance 2,550 → 2,800
- SOL: Support 103 → 100 → 95; Resistance 109–110 → 120
Macro / Event calendar: Tonight 20:30 US August Nonfarm Payrolls | Next week CPI, PPI | 9/15–16 FOMC (rate hike priced about 50.4%) | 9/9 Solana Transaction V1 mainnet launch | October Alpenglow consensus upgrade
Risk warning: SOL ETF inflows of about 77%–80% are concentrated in a single fund (holding about 9.3 million SOL, 1.59% of circulating supply). If inflows slow, volatility will be amplified; this rally includes a large amount of short covering, if nonfarm exceeds expectations, the pullback will be swift.
#FOMC前最后一组数据：本周五非农 Hidden liquidity risks in the market are becoming increasingly apparent — the narrowing of the USD/JPY interest rate differential is leading to the first phase of arbitrage position unwinding!
The yen appreciated again intraday to around 155, while the 2-year Japanese government bond yield remains high, and the 10- and 30-year JGB yields have clearly declined.
Market data expects that once the yen raises rates in September, the total rate hike over the next 12 months will reach 100 basis points; yen rate hikes have already entered a deep pricing phase.
At the same time, Federal Reserve Governor Waller’s speech weakened expectations for a September rate hike, accelerating the narrowing of the USD/JPY interest rate differential and triggering the first phase of arbitrage position unwinding — defensive unwinding.
Next, attention turns to Friday’s nonfarm payroll data. If the data weakens further, reducing the probability of a September rate hike from 50% to around 30%, it will further weaken future expectations for the USD/JPY interest rate differential, causing arbitrage trades to move from defensive unwinding to mechanical unwinding. This phase will directly bring liquidity pressure to risk markets.
The arbitrage unwinding caused by the narrowing USD/JPY interest rate differential and the resulting liquidity tightening is also a hidden risk in the market. This is another point of doubt I have about today’s market rise following Waller’s speech.
Friday night’s major nonfarm payroll data will mark the start of a long-short game. The data originally weakening September rate hike expectations is positive for risk markets, but if the yen continues to appreciate and breaks through 155, it means accelerated arbitrage unwinding, and liquidity will enter a suppressive phase for risk markets.
This Friday will not be easy! #FOMC前最后一组数据：本周五非农 Tonight's Core Logic for Gold & BTC
Recently, many people are puzzled:
The probability of interest rate hikes is clearly rising, so why are gold, silver, and Bitcoin rising instead?
Let me explain the underlying logic:
1. The negative factors have already been fully priced in
The hawkish speeches at the end of August already caused a drop, so the negative factors are priced in early.
What the market is trading now is: the last rate hike and the logic of the rate hike's end.
2. The logic for gold has changed
Gold pricing now is not based on short-term rate hikes, but on:
US high debt, fiscal deficit, sticky inflation, credit hedging.
The more forced the rate hikes, the greater the fiscal pressure, the more valuable gold becomes.
3. BTC is moving in sync with the "digital gold" trend
Continuous net inflows into ETFs + market speculation on a macro easing turning point.
As long as the dollar is not strong and real interest rates do not surge, BTC will continue to resist declines and rebound.
Five, Tonight's Practical Mindset
1. Do not chase orders immediately after data release; be sure to observe 10–15 minutes of sustainability.
2. A spike followed by a drop = a bull trap, do not buy.
3. A drop without a new low and a stable rebound = a genuine bull.
4. Non-farm payrolls are highly volatile data; heavy positions and holding through are strictly prohibited.
Six, One-Sentence Ultimate Summary
Tonight the market is betting in advance on weaker employment and cooling rate hikes.
Weak data = a strong rally following the trend
Data meeting expectations = a spike and shakeout
Data exceeding expectations = a return to negative selling pressure
The real trend does not depend on the size of the data but on the synchronized confirmation of the dollar and interest rates.$BTC How far Bitcoin can go depends on its position in the global financial system.
In the hearts of Bitcoin believers, it has already gone further and further, with both benefits and drawbacks. For example, the pricing power is currently shifting from miners and offshore exchanges to Wall Street institutions.
CME Bitcoin futures have replaced Binance as the dominant force in price discovery. CME will launch 24/7 trading in May 2026, closing even the weekend windows that used to create extreme market moves.
Impact: Volatility convergence — Bitcoin cycle realized volatility has dropped from about 70% to 45%; bear market logic rewritten — even with price drops exceeding 50%, the usual panic selling has not occurred.
Capital concentration — institutions prefer assets with high liquidity and mature fundamentals; traditional macro factors have replaced the halving narrative as the core variables driving price.
But it also brings new risks — a Federal Reserve paper warns that institutions can manipulate the market through coordinated selling strategies such as ETFs. #21家金融机构拟推美元稳定币 DON’T FOMO AFTER BTC’S REBOUND
$BTC is back near $81K, but a rebound doesn’t confirm a new trend. After strong Bitcoin ETF demand in August, early-September flows are cooling, making risk management more important than chasing.
$BTC → hold support
$ETH → regain momentum
$SOL → watch breakout + flows
$XRP → strong relative strength
$HYPE → strong structure
$ZEC → needs real demand
Keep positions small. Scale in gradually. Don’t chase candles. Increase exposure only when price and flows confirmIn recent years, the blockchain industry has faced a lingering question: should you build the chain first and then find users, or have users and business first and then decide whether to build the chain? The development path in previous years was almost always the former. Launch a new chain, create an ecosystem fund, attract developers, issue incentives and airdrops, and then find ways to attract users. This model has become the industry standard over the past few years. But the problems have become increasingly apparent: a chain can exist without users, a bunch of projects can have no revenue, and no matter how impressive the technical parameters are, it doesn't mean people are willing to use it. There are too many such cases. However, recent moves by Robinhood offer a different approach. Robinhood is not a company building blockchain from scratch; it already has a large user base, a mature trading system, and real capital flows. On this basis, launching the RH chain is essentially not about building a chain for the sake of building a chain, but about gradually moving the existing trading and assets onto the chain. $HOOD Therefore, it does not follow the traditional public chain logic of progressing step-by-step from technical development to ecosystem project implementation and then attracting users. Instead, it reverses the process: first having users and trading demand, then adding the chain as new infrastructure. In other words, the chain here is not the starting point but the result. Similarly, stablecoin giant Circle's Arc is following a similar path. According to information released by Circle, Arc plans to launch its mainnet on September 16, positioning itself as an open network for financial markets, focusing on stablecoins, payments, settlements, and on-chainThe US ISM Services PMI rose to 55.4 in August, with business activity and new orders accelerating significantly, but price indicators also reached their highest level in nearly four years. The simultaneous strengthening of economic resilience and inflationary pressures has made market judgments on monetary policy more complex. However, the decline in US Treasury yields has temporarily eased valuation pressure on risk assets, the US tech sector has strengthened, and the crypto market has also completed a key breakthrough accordingly. $BTC has reclaimed $80,000, $ETH has surpassed $2,500, mainstream coin trading volumes have expanded simultaneously, and risk appetite has upgraded from localized probing to broader position replenishment. The issue is that after the rapid rise, the 4-hour momentum of BTC and most altcoins has begun to slow, with some high-level small coins showing obvious sharp rises followed by declines. Today, the market is no longer facing the question of "whether it can rebound," but rather "whether it can hold steady after the breakthrough." The US nonfarm payroll report to be released tonight will become the next test of the quality of this rally. BTC has broken through $80,000 and has entered a short-term pressure verification zone. BTC was trading around $80,900 this morning, up about 4.5% in 24 hours, with trading activity close to 1.8 times the recent average level. Unlike the previous repeated tests of $78,000, this rise was accompanied by a significant expansion in volume, improving the quality of the breakout. However, BTC once approached $82,300 intraday, then fell back below $81,000, with a slight decline in the last 4 hours. This indicates that $80,000 has been broken through, but the selling pressure above has not been fully absorbed. The short-term focus is first onHYPE briefly surpassed $88 in the early morning, setting a new all-time high, with a cumulative increase of over 57% in 30 days. On September 4, according to HTX market data, the Hyperliquid platform token HYPE briefly broke through $88 in the early morning, reaching a new all-time high, and has now retreated to around $86.90, with a 24-hour increase of 6.3% and a cumulative 30-day increase of over 57%. HYPE is the platform token of the decentralized perpetual contract exchange Hyperliquid. Hyperliquid is built on a self-developed high-performance Layer1 network, using an on-chain order book and fully on-chain matching and settlement, providing a trading experience close to centralized exchanges. It has grown into a leading platform in the on-chain derivatives sector, with perpetual contract trading volume consistently ranking among the top decentralized platforms. HYPE was issued through a large-scale airdrop in November 2024, and since then, it has become one of the few exchange platform tokens directly linked to income and token price through a buyback mechanism based on the platform's actual fee revenue. This morning's rally continues its strong momentum over the past month: a rise of over 57% in 30 days, significantly outperforming the broader market during the same period. Multiple factors drive this increase: sustained high on-chain perpetual trading volume generating continuous fee buybacks, market revaluation of the on-chain derivatives sector, and capital shifting from pure meme narratives to assets supported by real income. As one of the strongest performing platform tokens in this cycle, HYPE's continuously refreshed all-time highs are also seen by the market as an important indicator of demand sentiment in on-chain derivatives. It is important to note that