唐华斑竹

Bearish

glassnode: Bitcoin wipes out its 3-month underperformance versus the S&P 500 in just 3 days

On August 21, according to glassnode data, Bitcoin wiped out its 3-month underperformance versus the S&P 500 in only 3 days. Data shows that for most of the time, BTC performed worse than the S&P 500; however, during periods when BTC outperformed the S&P 500, excess returns are often significant. $BTC

Bearish

Feels like it’s about to hang again—by tradition, once he buys, a crash is coming.

Following his usual style, Maji restarted multi-line operations, adding PUMP long positions, and the weekly unrealized profit rose to $84 million.

On August 21, according to TradingBeats (formerly Hyperinsight) monitoring, after the crypto market improved, Maji restarted multi-line operations and added PUMP long positions, with weekly unrealized profit reaching $84 million. As of the time of publication, his positions are as follows:

Long Bitcoin at $8.9 million, 40x leverage;

Long Ethereum at $41.91 million, 25x leverage;

Long HYPE at $19.83 million, 10x leverage;

Long PUMP at $10.53 million, 10x leverage. $HYPER $HYPE

Bearish

Harvard and MIT Create 8.3 Billion AI People: Simulate Global Human Behavior, with 1,290 Personality Labels

On August 18, according to Kuaike Technology, a team led by Harvard University and the Massachusetts Institute of Technology, with institutions including OpenAI and Google DeepMind participating, unveiled the MatrAIx system. The system can generate 8.3 billion AI intelligent agents to simulate global human behavior, acting as proxies for every person on Earth.

Because involving humans in surveys, testing, and research is not only costly and slow, but also covers an extremely limited range of user types, scientists launched the MatrAIx project: a digital human-mirroring system. Using nearly 600,000 pieces of real data and 400,000 pieces of AI-synthesized data, they generated virtual avatars for 8.3 billion people. These AI “people” have 1,290 personality labels covering age, occupation, psychology, behavior, and temperament.

The researchers also built four types of interactive testing scenarios, including questionnaires, AI chat, web pages, and apps, and integrated more than 1,000 tasks spanning 25 fields such as e-commerce, finance, and medical software. These AI agents can complete questionnaires, chat with customer service, browse websites, and operate apps just like real people, with result consistency as high as 91.5%. $AI

AI+5.65%

Bearish

Partly True

Binance will delist F/USDC, HIVE/USDC, and other spot trading pairs

Binance will remove and stop trading the following spot trading pairs at 11:00 on August 21 (UTC+8): F/USDC, HIVE/USDC, ILV/USDC, LTC/BNB, NMR/USDC, STEEM/USDC, and SUI/BNB. At the same time, Binance will terminate spot trading bot services for these trading pairs. $SUI

SUI+9.57%

Bearish

Binance will adjust the price precision of five U-based perpetual contracts
According to an official announcement, Binance Futures will adjust the tick size—the minimum price movement unit—of KUAISHOUUSDT, CXMTUSDT, BBXUSDT, ONDSUSDT, and WENUSDT U-based perpetual contracts on 2026-08-24 at 14:30 (Beijing time), changing it from 0.01 to 0.001. This adjustment does not affect existing orders, but API users can obtain the latest tick size via GET /fapi/v1/exchangeInfo. $KUAISHOU

KUAISHOU+0.46%

Bearish

Persistence is victory!
Current holdings floating profit about $1.276 billion; Strategy holds 840.4K BTC
Strategy holds 840.4K BTC, with an average cost of $75,385. Bitcoin briefly touched $76,903.2 today, and its floating profit from these holdings is about $1.276 billion. $BTC

Bearish

The toughest and bravest person in the crypto world—no one else comes close—is Brother Majii!
With total unrealized profit of about USD 4.10 million, Brother Majii currently holds over USD 81.5 million in long positions.
According to on-chain data, Brother Majii currently holds long positions in ETH, HYPE, BTC, and PUMP, with total position value of about USD 81.5 million.

Among them, the 25x ETH long position is worth about USD 43.65 million, with unrealized profit of about USD 3.496 million; the 10x HYPE long position is worth about USD 17.98 million, with unrealized profit of about USD 0.237 million; the 40x BTC long position is worth about USD 13.18 million, with unrealized profit of about USD 0.195 million; and the 10x PUMP long position is worth about USD 7.19 million, with unrealized profit of about USD 0.176 million. The unrealized profit from these four positions totals about USD 4.10 million. $ETH

Bearish

Verified

CMB International cuts Pop Mart’s 2026 to 2028 profit forecasts by 25%, recommends “sell”
In a report, CMB International said that the first-half profit of Pop Mart (09992.HK) was 15% to 20% below market expectations. The main reason was a 10% decline in sales in the Americas. An unfavorable product mix eroded gross margin and intensified pressure on profit margins. The firm has lowered its average profit forecasts for Pop Mart for 2026 to 2028 by 25%. The target price is HK$121, based on 14 times the forecast P/E ratio for 2027. The firm recommends “sell.” The firm also reduced its average sales forecast for Pop Mart for 2026 to 2028 by 17%, reflecting further downside to overseas sales expectations after the company’s first-half 2026 performance came in below expectations. It also lowered its gross margin forecasts for 2026 and 2027 by 0.2 percentage points and 1 percentage point respectively, to reflect a structural decline in the overseas business mix and pressure from raw material costs.$SOL

唐华斑竹

Labbub can’t sell anymore! How bad is Pop Mart’s latest earnings report?

Labbub can’t sell anymore! How bad is Pop Mart’s latest earnings report?

On August 20, Pop Mart released its performance report for the first half of 2026.

At first glance, this looks like a report still showing growth: revenue of 17.17 billion yuan, up 23.8%; net profit of 5.04 billion yuan, up 8.9%. But the market’s response was:

Completely below expectations.

Revenue fell short of the forecast of 19.98 billion yuan by 2.8 billion yuan. Net profit was also 1.6 billion yuan lower than the forecast of 6.64 billion yuan. Gross margin was 69.7%, which was also 0.3 percentage points below the market’s expected 70%. Of the three core metrics, none met the target.

The reason behind the stock crash of the humanoid robot has been found. I have to say, the one that’s around 120 came so fast—feels like robot hospitals are a real up-and-coming trend. $UNITREE

UNITREE+1.56%

Article

Labbub can’t sell anymore! How bad is Pop Mart’s latest earnings report?

Bearish

Verified

This is really awesome!

Strategy’s Bitcoin holdings have fully recovered all unrealized losses, with a position cost of $75,385

BlockBeats News, August 21: As Bitcoin has strongly broken through the $75,000 level, it is currently hovering around the $75,500 area. Strategy’s Bitcoin holdings have now fully recovered all unrealized losses. Previously, the unrealized loss at one point exceeded $10 billion. Strategy’s Bitcoin holdings have a cost basis price of $75,385.

From the historical record of $10.16 billion in unrealized losses set on February 6, to the first turnaround to profitability in April, and now holding steady above the cost line—this path is, in essence, a mirror of Bitcoin recovering from $60,000 to $75,000. What’s worth noting isn’t the turnaround to profitability itself, but the position structure. As of August 17, its holding size has increased from 713,000 coins in February to 840,000 coins, meaning it added roughly 130,000 coins below the $75,000 cost line. The average diluted cost has been compressed from $76,052 down to $75,385, and the marginal add-on prices were not low.

The pause in adding during the round in July, when the U.S. dollar reserves rose to $3.75 billion in a defensive posture to prepare for interest expense payments, shows that Strategy has shifted from simply accumulating coins to managing treasury liquidity. With the unrealized loss cleared, the buying cadence in the next stage and the choice of financing instruments will directly test how solid this new framework is. $BTC

Bearish

The IPO of Ushi Technology has brought a very bad precedent

When Ushi Technology went public, its offering P/E ratio was as high as 219 times. On the day of listing, its P/E ratio was explosively bid up to 1,000 times, then it dropped intraday to 600 times.

Compare it and you’ll see how absurd the bubble is: the industry average P/E for general equipment is only 38 times. Hong Kong-listed robotic peers are generally around 20 times. Even overseas tech veteran Boston Dynamics has an overall valuation of only over 8 billion RMB. For US listed hard-tech growth stocks, giving 30–50x P/E is already considered a generous premium.

Before performance has truly taken off, the valuation is already being pushed to the sky. The new shares keep draining money from investors, and it’s unclear whether retail investors are the ones picking up the tab or whether fund companies are taking the positions.

This kind of frenzy cannot be sustained. It effectively over-credits the growth expectations for several years all at once. What follows will only be a long period of value returning to reality. This seriously dampens market morale. Ordinary investors watch the boom in the sector, but their own holdings keep losing money, and confidence is steadily worn down.

Once this kind of ultra-high pricing becomes a bad example, it’s easy for later tech-stock order pricing to follow suit—everyone wants to tell a story and trade it up. $UNITREE

UNITREE+1.56%

Article

12% cliff-like collapse: Baidu killed its “cash cow” with its own hands—will this AI miracle drug be the antidote or poison?

Baidu has released a financial report that makes your skin crawl.

As soon as the earnings report came out, the US stock market immediately expressed its mood with a clean, decisive drop—during pre-market and the following trading day, the share price plunged 12.7%.

A sour, bittersweet air of “tears of an era” hangs in the air.

Just looking at the headline figures, total revenue of RMB 31.3 billion declined 4% year over year, seemingly still within the “pain threshold” that everyone can barely accept. But once you turn to the page on core business, you’ll find that the real blow is hiding beneath the surface:

The “cash cow” that used to be as steady as an old dog and churn out milk day and night—online marketing services revenue (i.e., advertising)—collapsed by 19%, leaving just RMB 13.1 billion.

GOOGLB+0.32%

Article

The success of “Bull Coming” slapped Beijing Film Academy’s vice president’s animated film “Little Soldier Zhang Ga” in the face! With 12 million RMB invested, the box office was zero

Recently, as a low-cost animated film (the “Bull Coming”) unexpectedly resurged at the box office, a long-forgotten chapter from China’s domestic animation history was once again brought back to the headlines by netizens. The animated feature directed by Sun Lijun, then vice president of the Beijing Film Academy, “Little Soldier Zhang Ga.” Back then, it was funded with 12 million RMB; during the initial planning stage, the team boldly claimed it aimed to hit a 200 million RMB box office. But the film was never officially released in theaters, with box office results effectively ending at zero—yet it won the Huabiao Award for Outstanding Animated Film. This huge contrast sparked widespread discussion across the internet.
This animated film began its preparations as early as 1999. It took six years to complete production, and the finished work was officially completed in 2005. Funding came from multiple institutions, including the Beijing Film Academy, the Youth Film Studio, and Beijing Television, totaling 12 million RMB in investment. Set against the backdrop of two decades ago, this was a very high-scale animation project. During the project’s launch phase, the creative team had strong confidence in the market. They publicly set goals and hoped to make this film “the animated film with the #1 box office in China.”

BNB+5.20%

Bearish

Even experts are like this—why should we make things difficult for ourselves? Mistakes are inevitable.
With an unrealized loss of $309,000, the BTC and ETH short positions under the “set 10 big targets first” strategy have increased to $143 million
According to on-chain analysts monitoring, the total position size for the “set 10 big targets first” strategy has grown to $143 million. Currently, the unrealized loss is $309,000. Of this, the number of BTC 5x leveraged short contracts is 1,449.968 BTC, with an opening price of $74,570.99; the number of ETH 7x leveraged short contracts is 15,000 ETH, with an opening price of $2,347.89. $ETH

ETH+4.45%

CZ Implements the Donation Plan: Transfers $965,000 in Assets to Giggle Academy

On August 17, according to monitoring by TheDataNerd, CZ is giving up one of the most talked-about wallets on-chain. About four hours ago, approximately $965,000 worth of assets flowed out from an address he used to test Trust Wallet: 144,000 BNB (about $872,000) and 182.62万 Binance Life (about $93,000), all transferred to Giggle Academy’s wallet.
He explained in person: the address has been flooded with大量 of unsolicited meme coins. Every attempt to destroy these meme coins, in fact, attracts more to come in, and every move he makes will be over-interpreted by his group that watches him closely. Therefore, he decided to donate the remaining assets and permanently abandon the address, effectively turning it into a burn address. $BNB

BNB+5.20%

Article

The awful film (Niu Lai) saw its box office surge 6,000-fold—behind it is the “money-making formula” Wharton professor had already made public

The awful film (Niu Lai) saw its box office explode 6,000-fold—behind it is the “money-making formula” that Wharton professor had already made public.

Recently, a domestic animated film called (Niu Lai) has, in an extremely eerie way, taken the box office by storm.

Its opening-day box office was only 3,420 yuan, with nationwide attendance of just 122 people; everyone thought it was awful. However, within just a few days, its box office skyrocketed, accumulating over 20 million.
Netizens were simultaneously cursing “crude modeling” and “the visuals falling apart the whole time,” while also疯狂 buying tickets to go see it and check in.

What’s driving all of this?

The answer is actually hidden in Wharton Business School professor Jonah Berger’s (Contagious) book. The book reveals: behind all crazy word-of-mouth, there are scientific principles to follow. The author summarizes six key STEPPS principles, and (Niu Lai) almost hit every single breaking point.

Article

A real-life, wildly entertaining drama that’s happening right now: Young people in Chinese small towns use AI to make short films—absolutely wrecking Hollywood!

You can hardly imagine a scene like this:
In a rental room in Bijie, Guizhou, Bazhong, Sichuan, or Yanbian, Jilin—costing a few hundred yuan per month—several guys in their early twenties are standing there with cigarettes between their lips, drinking ice-cold soda.
On the computer screen in front of them, a high-definition video is being generated at astonishing speed—a fair-haired, blonde, big, burly white man with every hair clearly defined. He looks straight into the camera and, in flawless, elegant, authentic London English, delivers the line coldly: “Remember, I’m the werewolf prince of this territory.”
This is absolutely not a sci-fi novel—this is a commercial spectacle happening in the real world, right now, at this very moment.

BNB+5.20%

Bearish

Saying the bear market is over, but in reality they’re distributing and pocketing the proceeds—what does that mean?

On August 20, Wang Chun, co-founder of F2Pool, posted at 2:00 a.m. today, stating, “The bear market is over.”

Wang Chun is an important early figure in the cryptocurrency industry and a co-founder of F2Pool. Previously reported: in June, Wang Chun gradually accumulated roughly 70,600 ETH (about $117 million) and 966 WBTC (about $60.29 million).

However, during the market rebound in July, he subsequently transferred 36,600 ETH and 160 WBTC to Binance, with expected profits of $3.4 million.$ETH

ETH+4.45%

Bearish

So, what about whales again? If you’re human, you’ll make mistakes
8.19 Epic-Scale Short Squeeze Day Clears Liquidation Rankings: Multiple Whale Short Positions Liquidated at the 100 Million-Yuan Level
On August 20, the previous day’s crypto market saw an epic-scale short squeeze liquidation. Across the whole network, liquidations of short positions over a 24-hour period totaled more than $2.7 billion.

According to TradingBeats (formerly Hyperinsight) monitoring, on-chain there were 8 Bitcoin short whales whose liquidation sizes exceeded $10 million, and another 2 Ethereum short whales with liquidation sizes exceeding $10 million. Of these:

Whale 0x8c96e5a2d770f9f2c9d2464ce4e741df0b2bca57 saw a Bitcoin short position worth $96.39 million liquidated;

Whale 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902 (pension-usdt.eth) saw an Ethereum short position worth $108 million liquidated;

Whale 0x004edcd40360e293e4cf260d2ebdf8c7076c1bb8 (bowen1476) saw a Bitcoin short position worth $71.46 million liquidated;

Whale 0x8eff8ff863c1a54ec6697b7ad98fe30aa344bd5e (Shamrocked) saw a Bitcoin short position worth $61.11 million liquidated.$SOL

ETH+4.45%