[Analysis suggests the upcoming yen rate hike may not trigger risk-off sentiment in the crypto market] The last rate hike by the Bank of Japan led to a surge in the yen and a sharp increase in market risk-off sentiment, causing Bitcoin's price to drop from around $65,000 to $50,000. However, the upcoming rate hike may not trigger risk-off sentiment in the crypto market, as speculators currently hold net long positions in the yen, and Japanese government bond yields have been climbing steadily this year, reaching multi-decade highs. The official rate hike reflects that interest rates are catching up with market trends. Additionally, this week, the Federal Reserve introduced liquidity measures while lowering interest rates by 25 basis points to their lowest level in three years. These combined factors suggest a lower likelihood of significant yen carry trade unwinding or year-end risk-aversion sentiment.

Grayscale has released a report stating that, given the absence of parabolic bull market overshoots, reshaping of market structure through ETP and DAT, and structural bullish macro backgrounds, the Bitcoin 4-year cycle may no longer be applicable and is expected to reach a new high in 2026. （Bitcoin Archive）

[MicroStrategy CEO: New Product Aims to Ensure Financing Capability Amid Bitcoin Volatility] MicroStrategy CEO Phong Le stated that the launch of priority products like Stretch is aimed at enabling MicroStrategy to secure financing even when Bitcoin prices are flat or volatile. He noted that over the past five years, MicroStrategy has built a Bitcoin financial framework capable of operating in both bull and bear markets, and the newly issued preferred stock must undergo similar market 'stress tests.' MicroStrategy will continue to pay dividends to build investor confidence and solidify its position as a Bitcoin financial and credit issuance institution capable of navigating full market cycles.

The address of '1011 Insider Whale' has accumulated a floating loss of over $12 million. Details are as follows: 5x long 175,595 ETH, opening price $3173.34, liquidation price $1943.28, floating loss $9.77 million; 5x long 1,000 BTC, opening price $91,506.7, floating loss $1.31 million; 20x long 25,000 SOL, opening price $137.53, floating loss $1.05 million.

[Main Password: The review of the US encryption bill may be postponed, and the main player has made a $200 million bet on this direction] The main large order is displayed on the K line in the form of a horizontal line, the thicker the line means the larger the pending order amount, and the longer the line represents the longer the pending order time