The crypto market sentiment is warming up as BTC rises back above $78,000.
【Macro】Kashkari soothes the market; the 10-year U.S. Treasury yield is around 4.73%, and the 30-year yield remains near its highest level since 2007. The SEC released the Reg Crypto draft, entering a 60-day public comment period. BTC gained 23% over the week. The number of U.S. coin-holding adults reached 49.6 million, exceeding gold holders of 28.8 million. Tether abandoned a $120 million mining project due to a power contract dispute in Uruguay.
【Sectors】Grayscale filed a revised application for a Zcash trust, aiming to launch the U.S.’s first privacy coin spot ETF, ZCSH. ZEC surged more than 200% in four months. XRP rose about 50% over the week, hitting its best performance since November 2024. The TRUMP team added another one-way liquidity selloff of 1.1 million tokens, receiving 2.94 million USDC in return. Arthur Hayes bought back 1.9 million ETHFI at $0.62.
【Flows】Wintermute’s shorts expanded from $146 million to $190 million, with an unrealized loss of $5.85 million. Liquidations in the past 24 hours totaled $405 million (longs: $246 million; shorts: $159 million). “Maji” holds a $150,000 ETH long position with an unrealized profit of $11.15 million; leverage remains at 12x. In July, crypto card spending totaled $1.04 billion, triple year-over-year. Visa disclosed more than 160 stablecoin card projects worldwide.
【Strategy】Bias is bullish, with a stop-loss. BTC’s next resistance is the prior high; pullbacks may still be worth watching. The ZEC ETF outlook is the strongest catalyst for the sector, but the four-month rally has already priced in part of the expectation. The “curve control” expectation for XRP depends on the timing of the U.S. Treasury’s buyback execution. Risks: if Wintermute’s shorts continue adding positions or trigger a chain liquidation cascade; and sell pressure from the TRUMP team suppresses MEME sentiment.
The above content is generated by AI based on publicly available market data and does not constitute any investment advice.
【Macro】Kashkari soothes the market; the 10-year U.S. Treasury yield is around 4.73%, and the 30-year yield remains near its highest level since 2007. The SEC released the Reg Crypto draft, entering a 60-day public comment period. BTC gained 23% over the week. The number of U.S. coin-holding adults reached 49.6 million, exceeding gold holders of 28.8 million. Tether abandoned a $120 million mining project due to a power contract dispute in Uruguay.
【Sectors】Grayscale filed a revised application for a Zcash trust, aiming to launch the U.S.’s first privacy coin spot ETF, ZCSH. ZEC surged more than 200% in four months. XRP rose about 50% over the week, hitting its best performance since November 2024. The TRUMP team added another one-way liquidity selloff of 1.1 million tokens, receiving 2.94 million USDC in return. Arthur Hayes bought back 1.9 million ETHFI at $0.62.
【Flows】Wintermute’s shorts expanded from $146 million to $190 million, with an unrealized loss of $5.85 million. Liquidations in the past 24 hours totaled $405 million (longs: $246 million; shorts: $159 million). “Maji” holds a $150,000 ETH long position with an unrealized profit of $11.15 million; leverage remains at 12x. In July, crypto card spending totaled $1.04 billion, triple year-over-year. Visa disclosed more than 160 stablecoin card projects worldwide.
【Strategy】Bias is bullish, with a stop-loss. BTC’s next resistance is the prior high; pullbacks may still be worth watching. The ZEC ETF outlook is the strongest catalyst for the sector, but the four-month rally has already priced in part of the expectation. The “curve control” expectation for XRP depends on the timing of the U.S. Treasury’s buyback execution. Risks: if Wintermute’s shorts continue adding positions or trigger a chain liquidation cascade; and sell pressure from the TRUMP team suppresses MEME sentiment.
The above content is generated by AI based on publicly available market data and does not constitute any investment advice.