$TUT Long-biased; be cautious about shorting. If it cannot break above the previous high, consider shorting. Different viewpoints—comment below to exchange and discuss 🙏🙏🙏🎁🎁🎁
The Paulownia gently sheds light frost; one leaf drifts in to herald early autumn. The heat, carried away by clouds, disperses a thousand miles; a clear breeze comes with the moon, filling the stream. The cicada’s song grows fainter as the empty mountains fall quiet; the geese’s shadows at first rise over the boundless blue sky. No need for heavy frost to hurry the year’s late season—just a single maple leaf has already untied the world’s sorrow.
On August 7, Bitcoin rebounded from this week’s early low of about $62,500 and is currently trading in a tight range near $64,000. What’s more notable than the momentum itself is the pressure the market has absorbed: Strategy sold 1,638 bitcoins and raised about $105 million; meanwhile, the reported losses from the Coldcard security incident have risen to about $110 million. But neither of these events has caused Bitcoin’s price to continue breaking down below key levels. The options market also reflects a similar sense of calm. Front-end implied volatility remains at the lower end of its recent range, and downside skew has eased somewhat, even though the macro environment is still complex. U.S. July manufacturing strengthened, but labor-market indicators softened. JOLTS job openings fell to 7.36 million, and ADP payrolls increased by only 44,000, making today’s U.S. employment report the focus of the market. At the same time, uncertainty in the Strait of Hormuz has pushed Brent crude back above $83. Japan remains another important liquidity variable. After the coordinated intervention supported the yen and as domestic yields rise, the Bank of Japan still holds roughly half of outstanding Japanese government bonds, meaning the impact of Japan’s funding conditions has gone well beyond the FX market itself. For the crypto market, the key distinction still matters: resilience has improved, but momentum remains limited. Macro liquidity, the energy market, and the timing of U.S. digital-asset legislation are still the core variables to watch.
On August 7, crypto journalist Eleanor Terrett posted that although the White House has started reaching out regarding a counterproposal to the bipartisan ethics agreement put forward by Tillis-Gallego, people involved in crypto policy are still in what an industry source called a “strange state of limbo.”
Terrett cited a source saying that some of the president’s closest supporters have been working behind the scenes this week to try to bring the ethics agreement to fruition. Meanwhile, negotiations surrounding other unresolved issues are still ongoing. The White House is taking the lead in pushing forward discussions related to BRCA (the Blockchain Regulatory Certainty Act), in an effort to persuade enforcement agencies that still have reservations to change their stance.
May you and I both be able to dwell in such a poetic realm—our hearts moving with the drifting clouds, our dreams accompanied by the lakes and mountains; thus the years pass, graceful and composed.