中信证券研报认为，科技股近期调整源于 AI 相关股票的远期定价问题，而非单纯受美国长债利率影响。该研报指出，商业化速率与空间、算力优势带来的定价权、算力差距对 AI 模型的影响是三个关键叙事变量。美国财政部回购长债影响有限，美国长端利率持续上行的因素未发生根本性变化，A 股短期资金结构决定市场博弈复杂性。

The S&P Global US Composite PMI Index rose 1.5 points to 56.0 in August, reaching a new high since April 2022 and growing for the third consecutive month. The PMI index for the service industry rose 2.2 points to 56.8, reaching a new high since March 2022. The manufacturing PMI index fell 0.7 points to 53.9, the lowest level in the past five months, but still in the expansion zone. Leading by the service industry, American companies are increasing their workforce at the fastest pace since January 2025. The data predicts that the annual growth rate of US GDP in the third quarter of 2026 will reach+3.0%, and the growth rate in the second quarter will be+1.5%. Artificial intelligence is driving a wave of growth.

[HODL15Capital: Bitcoin Sell Pressure Around $80,000 Mainly Comes from Binance and Coinbase] HODL15Capital monitoring shows that Binance has sell orders of $31.98 million, $13.20 million, and $33.27 million near $79,945, $80,000, and $82,500, respectively. Coinbase has sell orders of $38.74 million near $80,000. HODL15Capital stated that some sell orders have been listed for a long time, such as the sell orders near $80,000 on Binance, which have been present for approximately 99 days, and those near $82,500, which have been present for approximately 108 days.

According to on chain analyst Ai Yi's monitoring, a certain whale used leverage to cycle long ETH and BTC, recharging 3000 ETH to Binance with an average price of $1776.83 and an average recharge price of $2413.4. If sold, it would profit $1.91 million; Since August 19th, the giant whale has cumulatively recharged 13887.15 ETH to the exchange, earning a total profit of 6.727 million US dollars.

HTX-BTC perpetual contract is now reported at $76549.6. According to market contract position analysis, the main force has strong confidence in the future and the price is expected to rise. Please hold positions reasonably and control risks