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Jiang Zhuoer, the founder of the Liebit Mining Pool (B.TOP), stated in a post that around 13:10 Beijing time today, a small flash crash occurred across the entire market, with BTC, ETH, and various altcoins showing significant price spikes, and even non-crypto assets like crude oil experienced short-term violent fluctuations. It is advised not to use a unified account to hold a large number of high-leverage altcoin long positions simultaneously, as in a joint margin model, if a certain cryptocurrency suddenly crashes by 50%, it may lead to insufficient margin in the account, triggering the forced liquidation of other assets in the account.If engaging in high-leverage altcoin trading, it is recommended to use a isolated margin model to separate positions, avoiding the extreme market conditions of a single cryptocurrency from affecting the entire account. Although isolated margin trading is relatively cumbersome, at least in the event of extreme market conditions, "if one blows up, it only blows up one," which can reduce the risk of the entire account's assets being instantly wiped out.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $6.617 billion, with long positions totaling $3.195 billion, accounting for 48.28% of the holdings, and short positions totaling $3.422 billion, accounting for 51.72%. The profit and loss for long positions is $452 million, while the profit and loss for short positions is -$468 million.Among them, the whale address 0x082e..88 has taken a 5x leveraged long position on HYPE at a price of $38.6755, currently showing an unrealized profit and loss of $56.6955 million.

According to News.bitcoin, the Financial Supervisory Service of South Korea has launched a real-time artificial intelligence platform to detect cryptocurrency price manipulation. One of the core functions of this system is its ability to identify short-term price manipulation by referencing a historical database of known market abuse strategies.The Financial Supervisory Service of South Korea will next expand this system to track cross-exchange capital flows and on-chain blockchain activities.

According to CoinGlass data, in the past hour, the total liquidation across the network was 514 million USD, of which long positions accounted for 441 million USD and short positions accounted for 72.823 million USD, with long position liquidations exceeding 85%.

On-chain data analyst Murphy stated that this round of BTC price increase is "a bit different": the scale of futures liquidations has reached a record, but the open interest (OI) has simultaneously decreased. The price increase is mainly driven by short liquidations or buy-ins to cover positions, which belongs to the clearing of existing positions rather than new leveraged net exposure. If driven solely by liquidations, prices often show a spike followed by a drop; this time, after the surge, the price has stabilized, indicating that there are other spot funds taking over.Murphy pointed out that if the contracts are dominated by long positions, OI usually rises and rates increase, but this round saw OI decrease almost throughout, with no large-scale new leverage entering the market. The exchange's spot relative trading volume (SRV) reached 2.94 from August 19 to 20, about three times the average of the past 30 days. Similar volume increases in the past two years have mostly occurred during panic sell-offs or bull market phases, which is different from the scenarios in January when it rebounded to about $96,000 and in May when it rebounded to about $82,000, where leverage was dominant.He emphasized that the demand for spot is only a potential sign that has appeared for the first time since entering a bear market, combined with the price challenging the short-term holder cost line (STH-RP) and the seller exhaustion index entering extreme zones, it is still insufficient to conclude a trend reversal.

Real Vision founder Raoul Pal stated that the charts he closely monitors show that Bitcoin has entered an oversold zone of more than two standard deviations relative to the Nasdaq and is currently rising rapidly. He mentioned that he will continue to observe but believes that in the long term, crypto assets should outperform the Nasdaq.Raoul Pal pointed out that such long-term structural trends are of significant reference value for asset allocation. This view is based on the relative strength performance of Bitcoin against the Nasdaq.

The founder of the Liebit mining pool, Jiang Zhuoer, stated that his previous bearish judgment on the market was incorrect. He currently has a 90% confidence that the bear market has ended and believes that this round of ETH will become the main driving force of the bull market, potentially outperforming BTC.In terms of operations, Jiang Zhuoer mentioned that the ETH sold previously at $1738 to $1931 has been bought back at $2100 with a stop-loss, and he sold 50% of the spot when ETH rose to $2525 to test the peak, with a stop-loss set at $2550. For funds that are still in a state of missing out, Jiang Zhuoer plans to buy in fully if BTC falls to the range of $67,000 to $72,000; otherwise, he will buy at the current price by the end of October at the latest. He believes that compared to predicting the market, execution and risk control are more important in trading, which means "hold on if you're right, cut losses if you're wrong."

According to on-chain analyst Ai Yi's monitoring, the entity associated with bit (0x6c8...d84f6) has taken profits for the first time in four months, reducing its position by 38,000 ETH and realizing a profit of 9.407 million USD.Currently, four addresses still hold a long position of 82,000 ETH, with unrealized profits exceeding 20 million USD.

According to the Associated Press, drug enforcement agencies from Cambodia and the United States announced on Friday that they have dismantled a cryptocurrency money laundering network utilized by the Sinaloa drug cartel from Mexico.The operation was conducted in collaboration between Cambodian drug enforcement police and the U.S. Drug Enforcement Administration, seizing approximately $7 million in cryptocurrency related to the Sinaloa drug cartel, arresting multiple individuals, and confiscating assets, drug production laboratories, and storage facilities.

Uniswap founder Hayden posted on the X platform that the tokenized stock trading volume on Robinhood has reached $1 billion for the first time, and $1 trillion in trading volume is on the way.

According to market news, Strive's SATA fundraising amount is expected to be sufficient to purchase more than 160 bitcoins.

The "whale" has set "10 big goals" and will continue to update its trading trajectory and insights on the X platform tonight. It stated that at the position of 72500, it had considered re-entering a long position and had placed a limit order between 70500 and 71500, but it did not get filled. "I wanted to re-enter the long position that I had previously closed. At that time, I placed a long order in advance between 70500 and 71500, while also placing a short order near 76000. My expectation was that if it first retraced to 70500–71500, I would re-enter the long position; if it did not retrace and quickly surged to around 76000, I would make a correction after a round of upward movement. In the end, the long orders below did not get filled, and after the short order at 76000 was filled, the price continued to rise to above 79000.So looking back, the real mistake in this segment was not the medium to long-term direction, but underestimating the strength of this upward trend and trying to bet on a correction too early."Despite the recent loss on a short position, this whale still stated, "Currently, there is still a profit of around 70 million."

According to The Defiant, Kieran Warwick, co-founder of the Web3 game project Illuvium, stated that the studio has significantly reduced costs over the past six months, and the team recently agreed to further salary cuts. According to him, the adjusted funds can support operations for more than 12 months. He did not disclose the extent of the salary cuts, the number of remaining employees, or the cash reserves.Warwick mentioned that the existing team is almost entirely focused on the MMO game Overworld, with most members having worked together for over three years. In addition to the MMO, there are plans to launch the Celebrations series of Illuvium Beyond, Beyond Chaos, Primal Tactica developed by independent studios, and Loadout, which will allocate tokens for staking contracts, within the year. Primal Tactica will participate in Steam Next Fest in October, and Illuvium will receive most of the revenue.Data from DefiLlama shows that Illuvium's protocol fees and revenue over the past 30 days are approximately $9,781, with a treasury of about $2.78 million. ILV is priced at approximately $3.35, with a market capitalization of about $27.74 million.

Tom Lee posted on platform X that Fundstrat Direct's "Best 10 Trading Days Rule" shows that all of Bitcoin's gains come from the best-performing 10 trading days: these 10 trading days saw a cumulative increase of 162%, while excluding them resulted in a decline of 14%. This week is one of those best trading days, making it more suitable to hold Bitcoin.

BitMine Chairman Tom Lee published a post listing 17 large-cap stocks (with a market capitalization of over $2 billion) that have a high correlation with cryptocurrencies, for stock investors seeking crypto exposure.Among them, BMNR has the highest correlation with ETH at 80%, followed by COIN (74%); MSTR has the highest correlation with BTC at 78%, followed by COIN (74%).Tom Lee stated that he expects ETH to outperform BTC in this cycle, driven by tokenization and AI applications, believing that this logic is far more important than the factors that have historically driven ETH's outperformance in cycles.

The head of Galaxy Research posted on platform X stating that the U.S. Securities and Exchange Commission has proposed the Regulation Crypto Assets, abbreviated as Reg Crypto. This proposal aims to establish a legal pathway for the issuance of certain tokens to the U.S. public and to set up a mechanism for terminating investment contracts. The scope is limited to crypto assets that are not themselves securities but have been issued or sold as part of an investment contract; tokenized stocks, bonds, and arrangements that bundle tokens with equity or other securities are not included in the framework.The proposal sets four stages: financing, disclosure, construction, and exit. A one-time startup exemption allows issuers to raise up to $5 million over a maximum of four years; a higher exemption limit set by Regulation A allows for raising $20 million or $75 million within 12 months.Related financing must undergo qualification review by the U.S. Securities and Exchange Commission and continuous disclosure, with the investment cap for unaccredited investors being the greater of 10% of their annual income or net worth. Issuers must also disclose the token supply and release plan, minting and burning mechanisms, governance and smart contract permissions, source code, as well as project construction commitments and progress.When the issuer completes or permanently ceases relevant construction obligations, makes no new construction commitments, and submits a transition report, the related investment contracts will be deemed terminated, and the crypto assets will no longer be subject to securities laws under that investment contract. Issuers that do not use the above financing exemptions can also utilize this safe harbor. The U.S. Securities and Exchange Commission estimates that approximately 475 issuers will use the investment contract safe harbor each year, with about 130 issuers utilizing the two new exemptions. Qualified issuances may not be considered restricted securities and can be resold immediately without contractual restrictions.The proposal will also exclude initial offerings and certain secondary transactions within its scope from state registration and qualification requirements, but it does not involve exchanges, brokers, dealers, custodians, nor is it an independent innovation exemption for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. U.S. Securities and Exchange Commission Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda have all issued supportive statements.

According to Decrypt, Michael Selig, the chairman of the Commodity Futures Trading Commission (CFTC), stated that if the Clarity Act continues to be stalled due to Democratic obstruction, the CFTC will use its existing authority to begin establishing a regulatory framework for the cryptocurrency market and has instructed staff to expedite the formal rule proposal.Selig has asked staff to explore incorporating the digital asset market structure into CFTC rules, which may include both existing CFTC-registered entities and currently unregistered cryptocurrency exchanges under its regulatory scope.Rules tailored for digital assets may allow for leveraged and margin trading. Bitcoin ETFs saw a net inflow of $606 million, marking a new single-day high since May 1; Ethereum ETFs had a net inflow of $219 million, reaching a new high since September 2025. In the past 24 hours, the amount of short liquidations in the cryptocurrency market exceeded $1.2 billion, approaching $5 billion over the past two days.

The preliminary value of the S&P Global Composite PMI for the United States in August is 56, expected to be 53.9, and the previous value was 54.5.

Circle CEO Jeremy Allaire stated that the new proposed accounting rules will provide a significant strategic boost to the adoption of digital dollars like USDC.He mentioned that, combined with the GENIUS Act, the FASB rules will enable USDC to be widely used by global enterprises and financial institutions, which is of great strategic importance.

BitMart announced that it is developing a potential restructuring plan as an alternative to a complete shutdown. This plan may include a phased restoration of some operations under an orderly arrangement and distribution to creditors, but further legal, financial, operational, and regulatory assessments are still needed.BitMart has appointed White & Case as its restructuring legal advisor to assist in evaluating feasible options and developing a framework for restructuring and phased restoration of operations. BitMart stated that it is currently working with advisors to formulate a roadmap and will strive to provide further updates by September 9, 2026.