easing

On-chain analyst Murphy stated that currently, all chips bought in BTC in 2025 are basically in a state of loss. Therefore, apart from wallet migrations, the reduction in the scale of 2025 chips likely means that holders are cutting losses and selling. Data shows that as of now, approximately 4.77 million BTC chips bought in 2025 remain, a decrease of 41.5% from the peak in December last year.From the downward trend, this group has experienced two phases: a rapid decrease in chips before February this year, and a significant slowdown in the rate of decline after February, although it still maintains a certain slope. Murphy believes that the 2025 chips may be the largest potential supply side in the current market scale. In contrast, the BTC chips formed in 2024, 2023, and 2022 have basically completed the release of high-level locked positions due to still having unrealized gains, and the slope of the curve is gradually flattening, indicating that the selling pressure from long-term holders is weakening.Historical data shows that during the bottom phases of the past two bear markets, high-level chips have shown a significant decline: at the bottom of the bear market in 2022, the chips bought at high levels in 2021 decreased by about 51%; at the bottom of the bear market in 2018, the chips bought at high levels in 2017 decreased by about 62%. If we refer to historical cycles, Murphy believes that in this bear market bottom phase, the reduction of high-level chips in 2025 may be in the range of 50%-60%, and the current decline of 41.5% indicates that there is still some room for release. However, this judgment has not yet considered the BTC bought by institutional investors such as spot ETFs and MicroStrategy, as this portion of chips is mostly in a long-term locked state, which may reduce the actual market supply pressure.

Chip giant AMD plans to raise up to $5 billion through a four-part bond issuance, which, if completed, will become one of the largest bond financings in the company's history.It is reported that AMD is increasing capital investment to meet the rapidly growing demand for artificial intelligence computing. Previously, the company had reached significant cooperation agreements with Anthropic and Microsoft (MSFT), committing to provide up to $5 billion in support to Anthropic.The funds raised from this bond issuance will be used for general corporate purposes, including potential debt repayment. As of now, AMD has approximately $875 million in bonds maturing next month.The market believes that AMD's recent continuous expansion in AI chips and computing infrastructure will provide financial support for further investment in AI business, expanding the supply chain, and promoting strategic cooperation.

According to the latest market data from Gate, several stock tokens with high market attention on Gate gStocks performed actively today. Among them, Nebius (NBISG/USDT) rose 22.36% in 24 hours, currently priced at $254.31; SpaceX (SPCXG/USDT) rose 10.49% in 24 hours, currently priced at $147.41; SanDisk (SNDKG/USDT) rose 4.61% in 24 hours, currently priced at $1,363.86. The overall performance of related market targets remains strong, and investor attention continues to heat up.

According to Cointelegraph, the European Securities and Markets Authority (ESMA) updated the MiCA registration list this Wednesday, with the Slovenian electronic money institution Dinaro officially joining the list of electronic money token (EMT) issuers, becoming the first institution from Slovenia to enter this list. Dinaro is regulated by the Bank of Slovenia and provides payment services including issuing and acquiring, and holds principal membership with Mastercard.After this update, the total number of EMT registrations has reached 43, the asset-referenced token (ART) list remains empty, and the list of non-compliant entities remains unchanged at 167. In terms of crypto asset service provider (CASP) registrations, the Czech Partners Banka and Germany's Volksbank Beilstein-Ilsfeld-Abstatt have been added, bringing the total number of registrations to 325; the Czech company Altlift, which was added to the list in early July, has been removed.

According to the latest market data from Gate, several stocks in the Gate gStocks token sector performed strongly today. The top three stocks by percentage increase are: SanDisk 2x Long ETF (SNXXG/USDT) up 7.41% in the last 24 hours, currently priced at $9.834, with a trading volume of approximately $202,700; Direxion Semiconductor 3x Short ETF (SOXSG/USDT) up 5.17% in the last 24 hours, currently priced at $43.50, with a trading volume of approximately $52,700; Samsung Electronics (SAMSUNGG/USDT) up 4.81% in the last 24 hours, currently priced at $171.20, with a trading volume of approximately $160,300.

According to Gate market data, the stock price of the Trump family-associated mining company ABTC has risen over 13%, currently reported at $7.38, with a market capitalization increasing to $533 million.On the news front, last week, Justin Mateen, a director of the Bitcoin mining company American Bitcoin (ABTC) supported by the Trump family and co-founder of Tinder, bought company stock for two consecutive days after the company announced its quarterly financial report, with a total investment of approximately $1.93 million.Regulatory documents show that Mateen purchased approximately 145,000 shares of ABTC Class A common stock on August 5 for about $925,000, with an average purchase price of approximately $6.40 per share; on August 6, he bought approximately 162,000 shares again for about $1 million, with an average price of approximately $6.19 per share. The two transactions totaled 306,981 shares, increasing Mateen's holdings in ABTC to 492,297 shares.

According to the official announcement, the Swedish listed Bitcoin reserve company H100 has completed a Bitcoin acquisition transaction, purchasing 2,455.4 BTC at a price of approximately $62,900 per coin, increasing its total holdings to 3,506 BTC.It is reported that this transaction is the largest merger and acquisition deal in the European public Bitcoin equity sector and is also the world's first "Bitcoin for Bitcoin" merger and acquisition transaction in the public market. The entire transaction was paid for in H100 shares, with an implied share price of 1.86 Swedish Krona per share (1x mNAV), with no cash consideration. The fully diluted number of satoshis per share increased by approximately 5%, from 288 satoshis to 303 satoshis, and the acquired party holds no financial debt.

According to data from the Bank of Korea, South Korea's current account surplus in June reached 49.73 billion USD, setting a monthly record for the second consecutive month, further expanding from 38.61 billion USD in May, and compared to 13.97 billion USD in the same period last year. The cumulative surplus for the first half of the year was 191.01 billion USD, the highest in history for the same period, exceeding the Bank of Korea's previous annual target of 250 billion USD by 76%. The goods trade surplus of 47.89 billion USD also set a monthly record, with exports increasing by 84.5% year-on-year to 112.37 billion USD, surpassing the 100 billion USD mark for the first time, among which chip exports soared by 196.9%, and computer peripherals grew by 282.7%.South Korea's current account has maintained a surplus for 38 consecutive months since May 2023. The services account deficit widened to 1.29 billion USD, mainly influenced by increased payments related to intellectual property; the travel account surplus was 440 million USD, the second highest since October 2008. The current account surplus for South Korea in 2025 is projected to be 123.05 billion USD, setting a historical annual record.

The four major life insurance companies in Japan (Nippon Life, Dai-ichi Life, Sumitomo Life, Meiji Yasuda) reported a quarter-on-quarter increase of 7% in domestic bond holdings' unrealized losses for the second quarter of 2026, reaching a record $96 billion, marking the seventh consecutive quarter of increase, with total unrealized losses growing by more than twice during this period. Japanese life insurance companies typically hold government bonds and other securities to maturity to match long-term insurance liabilities. In May of this year, the yield on Japan's 30-year government bonds broke 4.0% for the first time since this bond was issued in 1999, raising market concerns that the Kishida government may increase fiscal spending. Analysts point out that if there is a surge in policy cancellations, insurance companies may be forced to sell their holdings prematurely to meet payouts, which would put pressure on their portfolios and earnings. The pressure facing Japanese financial institutions is intensifying.

Institutional analysis indicates that the market generally expects the U.S. CPI to rise by 0.1% month-on-month in July after a decrease of 0.4% in June. The core CPI month-on-month rate, excluding fuel and food, is expected to be 0.2%, with a year-on-year rate expected to be 2.5%, the smallest year-on-year increase since February. After the weak non-farm payroll report for July was released on Friday, the slowdown in inflation may help alleviate inflation concerns within the Federal Reserve. Previously, at the meeting on July 29, three officials voted in favor of raising interest rates.The CPI report may show that price pressures related to energy have eased, which had sharply intensified in the months following the outbreak of war between the U.S. and Iran at the end of February. At the beginning of July, retail gasoline prices fell to their lowest point in nearly four months, before rising again to over $4 per gallon by the end of the month. The report may also indicate that as jet fuel costs stabilize, ticket prices have also decreased.

Nansen founder and CEO Alex Svanevik stated that Bitcoin's current price of around $60,000 may have marked the low point of this cycle. "Personally, I don't think Bitcoin will go below $60,000 again; I believe that's in the past, and I think it's forever." Alex Svanevik said this judgment is based on Bitcoin's positioning as a hedge against global central bank currency expansion, and he has not seen signs that the global monetary easing cycle is about to end. At the same time, the crypto industry is undergoing a fundamental transformation; crypto assets were previously in the toy world of blockchain and are now entering the real world era.In terms of the public chain ecosystem, Svanevik holds a long-term bullish view on Solana, stating that the perception of it as merely a meme coin chain is completely absurd. He believes Solana has "possibly the most effective BD team" and "an incredible team." However, Svanevik declined to translate this judgment into a specific price prediction for SOL—"Intuitively, I would think it will rise, but I can't be sure." Svanevik is also optimistic about the Robinhood chain, which just launched in July this year, believing it is rising as a strong competitor to Base due to its excellent user distribution capabilities. However, he judges that Robinhood is unlikely to issue a token—on one hand, it doesn't need to, and on the other hand, as a publicly traded company on NASDAQ, issuing a token would logically contradict competing with its own stock, "All value should be directed to HOOD stock."

Bitcoin mining company BitFuFu released its unaudited Bitcoin production and operational data for July. In July, a total of 112 BTC were produced, including 72 BTC from self-mining and 40 BTC from cloud mining, with an average daily output of 3.6 BTC; the Bitcoin holdings decreased from 1,671 BTC in June to 1,314 BTC, a month-on-month decline of about 21%. According to its disclosure, the reduction in holdings was mainly due to prepayments made for future computing power capacity starting from August 2026 for a duration of 330 days, rather than selling off.In terms of operational metrics, the total hosted computing power in July was 14.2 EH/s, down from 15.3 EH/s in June, with self-owned computing power rising to 3.6 EH/s, a month-on-month increase of 2.9%, and computing power from third-party suppliers and hosting clients at 10.6 EH/s; the average fleet efficiency was 18.0 J/TH, and the total hosted power capacity decreased from 273 MW to 255 MW.

According to on-chain analyst Ai Yi's monitoring, a certain address stopped loss on 700 BTC last night, incurring a loss of 624,000 USD; this morning it increased its position by 30 BTC in short positions.Currently, the address holds 930 BTC in short positions, valued at approximately 60.32 million USD, with an average entry price of 64,213 USD and a liquidation price of 65,306 USD, still facing an unrealized loss of 605,000 USD.

Bitcoin Treasuries.NET posted on platform X that Alexandre Laizet of Capital B increased Europe's first Bitcoin reserve to 3,140 Bitcoins within a year.The video content covers topics such as the $3 trillion market corresponding to Bitcoin, Bitcoin reaching parity with gold, achieving zero fiat debt on the balance sheet, and Capital B increasing its Bitcoin holdings from 2,000 to 3,140 Bitcoins within a year.

According to Cointelegraph, Bridge, a stablecoin infrastructure company under Stripe, has officially joined the EU Crypto Asset Market Regulation (MiCA) registry through its Luxembourg entity, Bridge Building. Previously, Bridge obtained authorization as a Crypto Asset Service Provider (CASP) under the MiCA framework and received an Electronic Money Institution (EMI) license from the Luxembourg Financial Supervisory Authority (CSSF) on July 2.Mai Leduc Blount, Head of Products at Bridge, stated that the aforementioned approvals will allow EU businesses to build stablecoins and payment products within a compliant framework. According to the latest update from the European Securities and Markets Authority (ESMA), Bridge's inclusion increases the total number of EU-authorized Electronic Money Token (EMT) issuers to 42; during the same period, three institutions from Germany newly obtained CASP authorization, raising the total number of EU-authorized CASPs to 324.

The Solana community is advancing two governance proposals aimed at reducing the new issuance of SOL and increasing the scale of network fee burns, thereby tightening the token supply. Among them, governance proposal SIMD-0553 suggests introducing a resource consumption-based transaction fee mechanism, charging fees based on the network resources consumed by transactions. It is expected to increase the daily burn of SOL from the current approximately 650 coins (about $47,000) to between 7,500 and 9,000 coins (about $650,000).Another proposal, SIMD-0550, plans to double the rate of decline in SOL's annual inflation, bringing the minimum inflation target of 1.5% forward to 2029 instead of the originally planned 2032. This plan is expected to reduce the issuance of approximately 18.9 million SOL over the next six years, valued at about $1.36 billion at current prices. Currently, both proposals have received support from some validator nodes. As of the latest data, approximately 24.94 million SOL have participated in signaling votes, accounting for 5.8% of the 4.3265 million staked SOL, still about 39.95 million SOL short of the 15% threshold required to enter the formal voting phase. The deadline for supporting signals is August 18.A total of 16 validator nodes have expressed support, with the infrastructure company Helius contributing approximately 16.03 million SOL, accounting for nearly two-thirds of the current support. However, even if SIMD-0553 is successfully implemented, SOL will not immediately enter a deflationary state. Based on a maximum daily burn of 9,000 coins, it is still lower than the current daily new issuance of about 60,000 coins. Therefore, the community is advancing the burn mechanism and the reduction of issuance as linked reforms. If the proposal receives sufficient support from validator nodes, the Solana network will improve its long-term token economic model through a dual mechanism of "reducing new supply + increasing burns."

According to an analysis by Reuters of LSEG data and company filings, Microsoft, Meta, Oracle, Amazon, and Alphabet have committed to future payments of approximately $1.09 trillion in uncommenced lease obligations, primarily for AI data centers, which is about four times their confirmed lease liabilities (approximately $285 billion). These commitments have not yet been included on the balance sheet but have been disclosed in the notes to the financial statements. Among them, Microsoft disclosed the largest amount, reaching $329.1 billion; Meta disclosed $278.99 billion and signed an additional $68 billion in new leases in July; Oracle disclosed $260 billion, nearly seven times its confirmed liabilities, with lease terms generally ranging from 15 to 19 years, and the company has warned that it may face risks if customers do not renew or are unable to fulfill their obligations; Alphabet and Amazon disclosed $85.2 billion and $137.21 billion, respectively.The analysis points out that if the demand for AI computing power continues to grow, these facilities will support the next phase of cloud business expansion; if demand falls short of expectations, companies may be forced to pay high costs for large amounts of long-term idle capacity. S&P Global Ratings has included the uncommenced leases of companies like Oracle in its adjusted debt forecasts. This data highlights the potential long-term financial pressure that the expansion of AI infrastructure brings to tech giants.

According to Jinshi reports, Fed's Schmid stated that the recent easing of energy prices may be temporary.

According to Jinshi, senior officials at the U.S. Pentagon pitched the "Reconciliation 4" plan to Senate Republicans in a closed-door meeting, emphasizing the need for a significant increase in military funding to replenish weapon stockpiles depleted by the conflicts in Iran and Ukraine.Defense Secretary Hegseth and several deputy secretaries provided a detailed closed-door briefing to Republican members of key Senate committees, analyzing global threats and discussing the issue of U.S. military ammunition stockpiles.

According to Jinshi reports, the Emir of Qatar stated that the content of the call with Trump involved the latest regional developments, particularly efforts to ease tensions between the United States and Iran, as well as bridging the gap between both sides' positions, thereby enhancing the prospects for a sustainable diplomatic resolution to the crisis.