比特白

BTC is currently at 60,895, with a 24-hour volatility of 6.55%, hitting a high of 63,239 and a low of 59,102, now sitting at 60,895. It's down 3.19% on the day.

ETH is lagging behind: currently at 1,620, with a high of 1,693 and a low of 1,552, down 2.96% today. The ETH/BTC exchange rate continues to slide, nearing 0.0266.

Key data in a snapshot:

- BTC dropped to 59,102 last night, bounced back to 60,895 with a rebound strength of 1.8%, showing weak bullish sentiment.
- Ethereum spot ETF has seen net outflows for four consecutive days, with a single-day outflow of $82.35 million yesterday, totaling over $300 million in four days.
- BlackRock deposited 2,700 BTC and 52,956 ETH into Coinbase, valued at around $257 million—are institutions reallocating or cashing out?
- MSTR stock price fell below $99, marking its lowest since March 2024; CryptoQuant publicly suggested to "pause buying BTC."
- BTC's correlation with the Nasdaq has hit 0.82 over the last 24 hours—crypto is currently behaving like high beta U.S. stocks.

In summary: BTC's rebound isn't strong, ETH is particularly weak, so don't rush into buying.

#数据 #BTC #ETH #ETF

Cold data doesn't lie, today we're focusing on Ethereum.

BTC 62582, 24h +0.45%, 7d -4.41%
ETH 1664, 24h +1.00%, 7d -6.70%
ETH/BTC exchange rate 0.0266, continuing to weaken.

The Ethereum Foundation's holdings have dropped to a near 6-year low—only $209 million left. Compared to over $1 billion at the peak in 2021, that's nearly an 80% shrinkage. The foundation has laid off 20%, or 54 people, and slashed the annual budget by 40%. Vitalik plans to only spend 5% of the remaining funds annually after 2030, down from the current 15%. Based on the current $209 million holdings, 15% is $31.35 million/year, while 5% is only $10.45 million/year. A foundation managing a $200 billion market cap ecosystem has an annual budget just over $10 million.

ETH spot ETFs have seen net outflows for 4 consecutive days, with yesterday alone losing $82.35 million. It's not retail investors fleeing; it's institutions pulling out.

Wintermute has set a short-term target of $59,000 for BTC. If BTC hits 59K, with the current ETH/BTC rate of 0.0266, ETH would likely drop to around $1570—leaving about 5.6% downside potential from here.

In a nutshell: Ethereum is undergoing structural contraction—foundation downsizing, ETF capital outflows, and lagging behind BTC in price. This isn't just short-term volatility; it's a trend.

#链上数据 #ETH

The MSUSD algorithmic stablecoin has decoupled today, crashing down to $0.36, a drop of 64%.

Background: MSUSD is an algorithmic stablecoin issued by Mainstreet, pegged to $1. After the decoupling, the official response was "still fully backed by assets"—sounds familiar, right? UST said the same back in the day.

A few stats: The circulating supply of MSUSD is not publicly disclosed, but after the decoupling, the on-chain trading volume skyrocketed in the last 24 hours, showing clear panic selling. Mainstreet previously claimed to have over-collateralization; now we need to see if the liquidation price of their collateral can cover it. The core issue with algorithmic stablecoins is always the same: the peg relies on confidence, and once that confidence shatters, the algorithm can't hold.

For comparison: After the UST collapse, the algorithmic stablecoin sector nearly wiped out; MSUSD is one of the few that survived. If they mishandle this situation, it could wipe out the entire niche market again. I'm staying away in the short term, waiting for the official audit report to check the collateralization ratio.

#稳定币 #链上数据 #MSUSD

PANews just dropped some on-chain data: short holders' funds have shrunk by 56%, and aNUPL has dipped to -0.14. This means that folks who bought BTC in the last three months are overall sitting on losses.

Binance's BTC/USDT 24-hour trading volume has seen a significant uptick today compared to yesterday; at this level, some are cashing out while others are stacking up.

The data tells me one thing: the market isn't in full-blown panic yet, but buying pressure is hesitant. Until a clear direction emerges, both bulls and bears are feeling the squeeze.

#链上数据 #BTC

STRC has dropped from its issue price to 82, it's unpegged. Just this statement isn't enough—what's crucial comes next.

Strategy is holding 478,000 BTC, with a market cap exceeding a hundred million. STRC essentially adds leverage to the BTC holdings using preferred stocks. The drop in STRC means the market is pricing in one thing: Strategy might be forced to sell coins to pay off debts.

On-chain data: MSTR address has had zero transfers in the last 7 days, but STRD trading volume has skyrocketed by 310%. What's more interesting is that whale addresses have increased their holdings by 12,000 coins in the past 48 hours. Some are panicking, while others are scooping up the dip.

Don’t just look at the price, watch who’s buying and who’s selling. Data doesn’t lie.

#链上数据 #MSTR

#BTC
The first warehouse received 68250
The second warehouse did not receive 67600～
Last night, the needle was inserted near 67700……
What a pity～

Started～The live broadcast has started

It has begun, it has begun

The weekly golden cross has occurred for #BTC ～