Zach Pandl: Strategy reduces Bitcoin holdings or intensifies market pressure

The US dollar index decreased from 97.83 to 97.69, the 10-year US Treasury yield decreased from 4.414% to 4.371%, and the two-year US Treasury yield decreased from 4.162% to 4.107%.

The yield of the US 10-year treasury bond bond fell below 4.40%, hitting a seven week low. The lower than expected inflation data eased the market's expectation of the Federal Reserve's interest rate hike. The lower oil price eased inflation concerns. Strong consumer spending and economic resilience growth supported the expectation of the Federal Reserve's interest rate hike at least once this year.

Europol froze 41 million euros (approximately 47 million US dollars) of criminal cryptocurrency and destroyed the infrastructure of SocGholish, Amadey, and StealC malware in Operation Endgame, shutting down 326 servers and 142 domains, and recovering approximately 27 million stolen credentials from over 385000 infected systems.

According to a16z crypto data, the predicted market trading volume has reached a historic high for three consecutive weeks. Last week, the market trading volume reached 14.4 billion US dollars, and at the beginning of the year, the trading volume was 5.5 billion to 6 billion US dollars. A week ago, the trading volume was 10 billion US dollars. Open interest contracts rose to $1.6 billion, hitting a historic high for three consecutive weeks. The non sports market has seen significant growth, with a total transaction volume of $3.6 billion between Kalshi and Polymarket last week, exceeding the predicted total market size for all categories in 2023.

AI agent infrastructure company Sail Research has completed $80 million in seed and Series A funding, led by KPMG and Sequoia Capital, with participation from Redpoint Ventures, CRV, and Theory Ventures. Sail Research builds infrastructure for AI agents to address the computational power, cost, and operational limitations of AI systems in long-term, multi-step tasks. The API is compatible with OpenAI interfaces and supports mainstream open-source models such as DeepSeek and Gemma.