Orbit Post Sitemap
The largest intraday drop exceeded 13%, with the current decline hovering around 11%; The storage sector collapsed across the board: Western Digital, Micron, and SK Hynix all plunged simultaneously, with the Philadelphia semiconductor index plunging.
Four core reasons for the decline
1. Most direct: Concentrated realization of huge profit-taking at high levels
SanDisk has seen an epic market this year, with a peak increase of 800%+ this year, and a large amount of low-priced chips making substantial profits.
Market characteristics: Storage is a strong cyclical stock, and stock prices usually lead product prices when they peak. Funds have started to "buy expectations, sell facts," and no longer continue to play the NAND price hike narrative.
2. Weakening expectations for industry fundamentals (medium- to long-term core negative factors)
1) Samsung and SK Hynix are expanding NAND flash production on a large scale, with the market pricing in early for 2027 capacity release and ample supply and demand;
2) Marginal decline in NAND contract price increases: Q3 price increases were significantly lower than in Q2, with the price increase slope slowing;
3) Segment differentiation: Funds are beginning to separate HBM high-end computing memory from regular NAND flash. SanDisk mainly operates in enterprise-grade SSDs and consumer-grade NAND, not in the high-margin HBM sector.
3. Macro + sector sentiment suppression
1) The Fed's rate cut expectations have been delayed, and a high interest rate environment is weighing on overvalued growth stocks;
2) Tonight, semiconductors collectively declined, with funds in the AI hardware sector reallocating and shifting from computing hardware outflows to application ends;
3) The market is concerned that major cloud providers are slowing in AI capital expenditure growth, and data center storage procurement demand may fall short of previously optimistic expectations.
4. Historical concerns about individual stocks
Previously, Citron released a bearish report: reminding the market not to treat cyclical savings stocks as long-term growth stocks; There are also historical signals from Western Digital reducing its stake in SanDisk.
Key points to watch on the market
1. Support interval
Short-term strong support: $1220–$1250 (near today's low);
If it is effectively broken, the next support is in the $1130~$1160 range.
2. Pressure level
The first resistance is $1430 (yesterday's closing price), but the rebound cannot hold above this level, and the correction trend is hard to reverse.醒醒吧、醒醒吧、
$CORE 持续阴跌不止，靠大饼“背书”维稳，暗藏6大致命危机，一次性说透
一、代币抛压无底洞风险（最核心的雷区）
1、团队与国库合计掌控7亿枚零成本筹码，2026年正值36个月解锁洪峰期，每月千万枚级别持续倾泻入市。供给端永远碾压买盘，阴跌是长期主旋律，任何利好催化的反弹，本质上都是诱多出货的机会。
2、国库代币早已被批量拿去抵押借贷稳定币，后续必然面临分批抛售还债；原本的Gas销毁机制已被取消，手续费全部落入基金会口袋，流通盘只会持续膨胀，彻底失去通缩托底。
3、大饼宣传的回购承诺彻底落空，SatPay毫无商用创收，链上根本不存在持续性回购订单，完全没有任何机制能对冲海量解锁带来的抛压，价格重心将不断下移、持续探底。
二、量化控盘与流动性枯竭风险
1、盘口长期存在固定等额量化对倒刷量，制造虚假繁荣，真实买盘极度匮乏，“放量滞涨、缩量暴跌”是家常便饭，人为死死压制所有上行空间，根本不存在趋势性反转的行情。
2、流动性断层隐患：深度套牢盘仅敢小幅试探抄底，场外资金集体观望避雷，一旦项目方放缓做市力度，极易出现插针暴跌、滑点失控，想止损都卖不出去。
3、质押锁仓套路深：B14G、节点质押诱导散户锁定筹码，导致二级市场只剩项目方单向抛售；质押每日增发CORE带来持续通胀，进一步稀释持仓价值，即便锁仓期间币价腰斩也无法减仓避险。
三、生态空心化、叙事画饼失败风险
1、所谓的大饼营销全是冷饭重炒：比特币电网只是自家产品线打包换名，并非外部重磅合作；SatPay、BTC支付、机构资管全线跳票，仅停留在预约内测阶段，无真实商户、无手续费现金流，生态毫无造血能力。
2、BTCFi赛道竞品（Stacks、Babylon）在技术与机构资源上全面领先，CORE缺乏独家核心壁垒，资金持续分流，生态极难引入真实用户与增量资金。
3、项目运营全靠变卖代币维持生计，没有实质性营收支撑，一旦代币失去流动性，整个生态的宣传、节点补贴、团队运作都将瞬间停摆。
四、高度中心化、项目方跑路、拔网线风险
1、名义上是DAO去中心化治理，实际国库调配、量化做……
$CORE #长鑫科技上市，全球存储竞争添变量
$ETH The storage market cake has stalled! $SNDK
The plunge in U.S. storage stocks is the result of multiple factors converging, with Changxin Technology's IPO playing more of a "sentiment catalyst" role.
Viewing it as the sole "culprit" is an oversimplification. A more accurate assessment is that Changxin's listing pierced the market's already existing concerns about oversupply, but the real crash stems from deeper macroeconomic and trading structure issues.
Specifically, the main factors are:
· Direct trigger: concerns over changes in the supply landscape. Changxin's IPO raised funds for capacity expansion (about 8% of the global share), causing the market to worry about a surge in global DRAM supply and intensified price wars. Coupled with SK Hynix's recent U.S. listing, these two major events made the market reassess the "overcapacity" risk.
· Fundamental cause: AI bubble and deleveraging. The market began to question whether the massive capital expenditures on AI can be sustained. More critically, Korean retail investors heavily leveraged on Samsung and Hynix, and the stock price decline triggered margin calls, causing deleveraging that severely impacted U.S. tech stocks through sentiment transmission.
· Secondary factor: industry chain interest conflicts. Apple complained about storage price hikes squeezing profits, while Micron countered that Apple's price pressure prevented it from expanding capacity. Internal disagreements intensified the debate over whether storage prices are too high.
In short, Changxin's IPO was the "last straw" on an already fragile market. Its fundraising and capacity expansion merely gave Wall Street, already full of doubts, a reason to "run first as a courtesy."
Do you want to learn more about the impact of Changxin's IPO on the A-share industry chain, or would you like to see an analysis of the subsequent stock price trends of these leading U.S. storage stocks? Tell me what you are interested in, and I will elaborate further. 📊 Micron vs Kioxia: Has the Memory Cycle Finally Turned?
Micron’s latest earnings report has created mixed reactions from the market.
The AI computing boom remains one of the biggest growth drivers for 2024–2026, and the memory sector is becoming a key beneficiary.
🔥 Key points to watch:
• HBM revenue growth is accelerating, showing strong demand from AI infrastructure
• AI computing remains one of the biggest beta opportunities in semiconductors
• Memory companies like Micron and Kioxia are showing signs that the cycle may be shifting from downturn to recovery
• HBM3E 12-layer products command significantly higher pricing compared with traditional DDR5 memory
These numbers should not be viewed individually. The real story comes from the combination of demand, pricing power, production capacity, and profitability.
Nobody knows the exact bottom of a cycle, so patience matters.
📌 Beyond revenue growth, three AI factors matter most:
1️⃣ HBM delivery capability
Strong demand means little if suppliers cannot produce and deliver at scale.
2️⃣ Margin improvement sustainability
Higher sales need to translate into stronger cash flow, not just higher expectations.
3️⃣ Shift from AI training to AI inference spending
The next phase of AI demand will depend on how companies deploy these systems, not only how much they train models.
🧭 How to track the trend:
✅ Monitor order visibility and capacity utilization
✅ Watch pricing, yields, and capital expenditure alignment
✅ Compare company performance with competitors, semiconductor equipment makers, and cloud providers
If stock prices rise without improving fundamentals, it may be a trading opportunity rather than a long-term investment thesis.
⚠️ Key Risks:
AI narratives often price future expectations too early. Increased supply, weaker pricing, or delayed customer spending could create sharp volatility.
📌 My framework:
First, confirm whether earnings strength continues for multiple quarters. Then manage exposure through gradual positioning controlled risk.
#CXMTMemoryIPO #FOMCRateWatch #AIEarningsWatch $LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.Storage "Big Three" Plunge Deep into the Night: AI Faith Faces Its Harshest Disproof
On the night of July 27, the US stock storage chip sector once again experienced panic selling. By around 22:45, SanDisk $SNDK plummeted 13.79%, SK Hynix $SKHYNIX dropped 9.39%, and Micron $MU fell 6.94%. The Philadelphia Semiconductor Index simultaneously plunged over 3%, and Micron Technology's market cap has fallen below $1 trillion.
$950 Billion Mega Deal "Dies in the Light"
Just last week, a South Korean company and global tech giants reached a semiconductor cooperation agreement totaling $950 billion. However, this major positive news failed to stop the decline and instead triggered a "death upon exposure" — the market has completely lost positive feedback on AI benefits. Investors are no longer satisfied with the qualitative narrative of "heavy AI investment" and are demanding to see capital expenditures translate into actual profits.
Concerns Over Cycle Turning Point Continue to Ferment
Morgan Stanley previously warned that memory contract prices are expected to peak in Q4 2026. DDR4 prices in Huaqiangbei have dropped about 35% in a single month. Market worries about a turning point in the storage industry’s prosperity are shifting from expectation to reality. Meanwhile, Changxin Technology officially listed on the STAR Market today, with a first-day turnover exceeding 120 billion yuan, setting a record for A-shares and significantly siphoning active funds from the sector.
Capital Accelerates Withdrawal
Goldman Sachs data shows that the selling pressure on tech stocks mainly comes from long-term institutions, with funds shifting from chips and other hard tech stocks to internet platforms and other soft tech stocks. The once-glorious storage chip sector is undergoing a severe correction triggered by valuation bubbles, cycle concerns, and capital rotation. The story of AI as a "shovel seller" is being reexamined by capital.
Whether Storage Chips Can Break Out of the Cycle Remains to Be Tested!
#长鑫科技上市，全球存储竞争添变量
#美联储周四凌晨公布利率决议
#财报观察员：微软Meta亚马逊能稳住AI叙事吗？ Now is not the time to chase the rise, but to choose sides. 🫧
Why does the market seem decent, but accounts get colder the more you look?
I flipped through on-chain data and discovered a harsh reality: the current market has contracted to the extreme. The ratio of value to decline is only 0.3, meaning that behind every winner, there are three losers. This is not a broad-based rally, but rather an extremely narrow local gamble.
Only 8 altcoins remain with true positive volume divergence. More than 90 other names are silently losing blood. This is not capital rotation; it is funds abandoning most assets, hunting only a tiny few.
These 8 survivors are: $JELLYJELLY, $OPG, $SLX, $LAB, $BSB, $ALLO, $CHIP, $ZKP. They are either supported by strong players or serve as the last liquidity haven in some narrative. But note, these do not mean the sector is safe; they only mean speculative capital is still playing.
Meanwhile, $BEAT, $EDGE, $COAI, $TRUMP, $RAVE, $SPACE, $VIRTUAL—these former favorites are now shrinking on low volume. The market isn't cold; it's extremely selective—it only recognizes the hardest logic and the most concentrated capital.
What does this mean?
- If you don't have those 8 names in your hands, your position may be passively suffering the pain of liquidity contraction.
- If you already have them, don't rush to add to your position—in a narrow market, the worst is a counterattack after emotions clash.
Bullish logic: If BTC holds steady, funds may spread from these eight names to smaller market caps in the same sector.
Bearish risk: If BTC breaks again, these 8 names could become the final flame and then extinguish.
My judgment: At this stage, don't use a "bottom-fishing" mindset to buy any non-core assets. Narrow shots are only suitable for precise burst fire, not for sweeping shots. Wait until the width data recovers before considering increasing the investment.
- Personal observation and does not constitute operational advice. * $BTC $ETH $SOL #市场宽度 #Altcoin #流动性收缩The meme coin throne hasn't changed.
Every cycle brings new hype, but the numbers still tell the same story:
🐶 $DOGE and $SHIB continue to define the meme coin market.
Many have tried to replace them. $PEPE came closest, but no meme has surpassed their all-time high market caps yet.
Until that happens, the OGs remain the benchmark—and every new meme project still has something to prove.
Who's taking the crown next? 👀#CXMTMemoryIPO #FOMCRateWatch #AIEarningsWatch $LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.Intraday maximum decline exceeded 13%, currently maintaining a decline around 11%; the entire storage sector collapsed: Western Digital, Micron, SK Hynix all plunged simultaneously, and the Philadelphia Semiconductor Index plunged sharply.
Four core reasons for the decline
1. Most direct: massive profit-taking concentrated at high levels
SanDisk had an epic rally this year, with a peak increase of over 800% within the year, resulting in substantial profits for many low-position holders.
Market characteristic: Storage is a strong cyclical sector, and stock prices usually lead product price peaks. Capital has started to "buy expectations, sell facts," no longer betting on the NAND price increase story.
2. Industry fundamentals expectations weaken (medium to long-term core bearish factor)
1) Samsung and SK Hynix are massively expanding NAND flash production, with the market pricing in capacity release and supply-demand loosening by 2027 in advance;
2) The intensity of NAND contract price increases is marginally declining: Q3 price increases are significantly lower than Q2, with a slower price increase slope;
3) Differentiating tracks: capital begins to separate HBM high-end computing memory from ordinary NAND flash. SanDisk mainly focuses on enterprise SSDs and consumer NAND, not belonging to the high-margin HBM track.
3. Macro + sector sentiment suppression
1) Fed rate cut expectations delayed, high interest rate environment suppresses high valuation growth stocks;
2) Tonight, semiconductors collectively plunged, AI hardware sector capital rebalanced, funds flowed out from computing hardware to application side;
3) Market worries about major cloud providers slowing AI capital expenditure growth, data center storage procurement demand less optimistic than before.
4. Historical concerns about individual stocks
Previously, Citron released a bearish report: reminding the market not to treat cyclical storage stocks as long-term growth stocks; there is also a historical signal of Western Digital reducing its SanDisk holdings.
Key observation points on the board
1. Support range
Short-term strong support: $1220–$1250 (near today's low);
If effectively broken, the next support is in the $1130~$1160 range.
2. Resistance level
First resistance at $1430 (yesterday's closing price), if the rebound cannot hold here, the adjustment trend is difficult to reverse. After just a round of the square, I spotted an interesting signal—the knockoff was starting to stir.
$BEAT jumped 22% today, $AI held up against the trend, and the old coin on the SOL chain went from 400,000 to 20 million in market cap. BTC is still grinding at 65K on shrinking volume, but funds are already testing the waters for smaller coins.
I've experienced two knockoff seasons, and each time it was the same approach: first BTC drained the market sideways, then ETH strengthened, and finally funds spilled over to various sectors and ran wild. Now ETH has started to move, and some Memes are surging on SOL.
I don't chase the rise at this level, but I'm starting to look seriously. On Thursday, there is still a Fed decision. Before the direction is announced, light positions can test the waters, but heavy positions should wait for signal confirmation. $BTC $ETH $SOLIt seems that before the market opened, the pressure Longxin exerts on the US-Korean storage giants was still underestimated. Judging by the current trend, it is completely comparable to last year's Deepseek moment. Regardless of whether it is more advanced than them, this listing directly locks the upper limit of Micron and Hynix for the next three years. Once the technological gap is closed, there will be no room for imagination at all. But as mentioned before, news and price promote each other. After the price peaks, any negative news will be the straw that breaks the camel's back, especially such a heavy physical impact. Only after the valuation bubble is completely deflated can it rise again. This kind of bottoming requires patience. $MU currently shows institutional bottom-fishing signals
Dark pool range $860-$925, DP% 70-84%, institutions showing signs of accumulation. $920-$921 single price level 311K + 86.35% DP.
Skew percentile dropped sharply from 96% to 76%, the peak of panic Put buying has passed. Net Premium currently +$31 million.
Open Interest is quite bearish, continuing to increase short positions with layered hedging.
From the Gamma structure perspective, the 31st is the decisive day this week. The direction depends on whether the price can hold steady at $850 during the three days from the 28th to the 30th.
Most of the block trades are long-dated LEAP Calls.
Short-term cautious but panic easing, mid-term cautiously optimistic, long-term clearly bullish. $LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.总结 直接总结了兄弟们。 虽然好多天不更新，不是我刻意拖更，前几天没啥好写的， 因为我们文章只能分析BTC行情方向分析，不能发跟单内容，也不能发山寨币的交易信息，所以最近能写的不多，很多博主也放假休息去了。 今天美股下跌，BTC反而上涨。 今天长鑫IPO大获成功，直接给竞争对手SNDK、MU干崩了，目前SNDK跌了9%，直接带跌美股科技股。 平时美股下跌的时候BTC也会下跌，但是今天BTC没有跟跌，反而在美股开盘后拉了一根阳线。主要原因是微策略的公告： Strategy 的美元储备增加了 5.25 亿美元，目前已经实现了 2.1 年的股息覆盖能力。截至 2026 年 7 月 26 日，我们持有：843,775 枚 BTC 的比特币储备，37.5 亿美元的美元储备。 进行 2500 万美元 STRC 股票回购。 Strategy已经囤了37.5亿美元的现金，并且开始回购STRC，降低了爆雷风险，提升了投资者信息，所以今天MSTR股价大涨，BTC跟涨。 顺便提一下日更的Vivian和柳玉冬的观点。 Vivian认为本周先跌到64K附近，然后反弹到68K附近再继续下跌。 柳玉冬认为577$LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.Over there, Jensen Huang continues to deepen ties with SK, while here, Changxin's listing challenges the A-share stock king. The true big winner in the AI era might still be storage.
Recently, two pieces of news placed side by side are very interesting.
One is Jensen Huang attending the San Francisco AI Summit, where he had in-depth exchanges with South Korean President Lee Jae-myung and SK Group executives.
After the meeting, Huang still hosted a drinking party, very much like Jensen Huang.
From the publicly released information, AI, HBM, high-bandwidth memory, and the South Korean semiconductor industry chain remain the focus of cooperation between both sides.
The other is the domestic capital market: after Changxin Storage's listing, the market gave it a very high valuation, quickly placing it among the top core technology assets in the A-share market, becoming the new A-share stock king in China.
One happens on the industrial side, the other in the capital market.
But they both point to the same answer—the second half of the AI competition has gradually shifted from computing power to storage.
Many people think AI battles are about GPUs, but actually, the GPU is just the engine; the real limitation to AI's continued development is the "memory and storage system."
In recent years, everyone knows NVIDIA makes money, but what truly keeps NVIDIA ahead is not just the GPU chips themselves, but the entire AI server system.
A GB200 or B300 server contains more than just GPUs.
There is also HBM, high-speed DDR, enterprise-grade SSDs, high-speed interconnects, and a complete data flow system.
If the GPU is responsible for computation, then HBM is responsible for feeding data. Without HBM, no matter how powerful the GPU, it can only wait for data.
The biggest bottleneck for future AI is not computing power but data transfer speed.
This is why Jensen Huang almost always emphasizes thanking SK Hynix in his public speeches.
Because currently, one of the most scarce and highest value-added components in global AI servers is HBM.
Especially after HBM3E, each generation's product validation cycle is getting longer, and yield rates are becoming increasingly important.
Who can supply stably holds the discourse power in the AI industry chain.
Currently, the global HBM market has basically formed a three-player competitive landscape:
1. SK Hynix, still leading.
2. Samsung, fully catching up, hoping to regain market share.
3. Micron, continuously expanding AI customer coverage.
And NVIDIA has almost built its AI roadmap for the next few years based on continuous HBM upgrades.
GPUs are getting stronger, but HBM capacity is increasing, bandwidth is rising, and the overall value of AI servers keeps growing.
Many institutions predict that the HBM market size will maintain rapid growth in the coming years, with growth rates significantly higher than traditional DRAM.
This is also why South Korea is mobilizing the whole country to develop AI storage.
Because they clearly understand:
GPUs can be continuously updated, but storage technology barriers are also very high, and once a leading advantage is formed, it is hard for latecomers to catch up.
Looking at China.
In the past decade or so, one of the biggest shortcomings in China's semiconductor industry has been storage.
Logic chips are widely discussed, but in fact, storage has always occupied a very large share in the global semiconductor market.
DRAM and NAND not only have huge market sizes but are also standardized products. Once domestic substitution is achieved, the market space is very considerable.
Changxin Storage is responsible for the breakthrough in domestic DRAM.
AI is not just getting better at computing but increasingly needs memory.
Therefore, whether it's Jensen Huang continuously increasing investment in SK or the capital market's enthusiasm for Changxin,
it essentially reflects the same thing:
The global AI competition has already entered the storage era. #长鑫科技上市，全球存储竞争添变量 $NVDA Blockchain lawyer recommends coins—would I buy them myself?
The holding logic of blockchain lawyers
The KOL's perspective is valuable but not the Holy Grail.
Smart money holds a position. On-chain traders, copy trading win rate 70%+.
Blockchain lawyer. From a compliance perspective, observe regulatory dynamics.
Bitcoin Ziqi. The holding logic is stable, but the update frequency is low.
BTC has been oscillating or falling 99% of the time, with only 1% of the time when it truly surges.
Positions not exceeding 5%, with a 30% stop loss for single positions.
I'll break this topic down into three layers. The first layer is data that can be directly observed. First, record values, time, and direction, avoiding jumping to conclusions based on just one screenshot; The second layer is how the market reacts: data improves but prices remain unchanged, and weakening data but prices still rise—the meaning is completely different; The third layer is your own operations: first write down your maximum tolerable loss, then decide whether to adjust your position. This sequence may seem slow, but it helps reduce being carried away by a single headline.
For me, perspective sources, data validation, and independent decision-making should be compared in the same table. Each update only changes the parts with new evidence; a single change in number cannot overturn the entire judgment. If the three observation directions contradict each other, I would downgrade the conclusion to 'waiting for confirmation' rather than forcing a bullish or bearish story. The most easily overlooked cost in the market is determining it too early and then refusing to admit that the assumption has failed.
In practice, I first use observation positions to test and wait until at least two of the trading volume, price, and fundamentals are aligned in the same direction, then consider increasing exposure; If volatility increases or liquidity thins, reduce your position first. Any backtesting, historical cases, or KOL perspectives can only be used to establish hypotheses and cannot replace current risk checks. This article is my research notes, not buy or sell orders that guarantee profits.
In my next update, I will re-examine four things: whether the message is still valid, whether the price reaction has been confirmed, whether liquidity is sufficient to execute, and whether the original risk assumptions have been broken. If it's just a rise in social media buzz without seeing trading volume or capital support, I treat it as a signal to watch; If the data direction changes, the original script will be updated accordingly, rather than holding it for the sake of saving face.
The advantage of this approach is that it separates "perception" from "action." Opinions can retain multiple possibilities, but actions must have clear triggering conditions. For short-term trading, I set a time limit; For medium- to long-term allocations, I will check fundamentals and capital costs. No matter the final outcome, record the reasons for entry, exit, and actual slippage, so that next time you'll have real material for improvement.
If sources conflict with each other, I will mark the conflict first and wait for confirmation in the original announcement or the next time, rather than using social media sentiment as evidence. This also means that sometimes the best strategy is to wait without a position, because not trading itself is also a way to manage uncertainty.
One last reminder: time-sensitive data should be based on the original source at the time of publication; old screenshots and secondhand reposts should only serve as background. Before actually executing, I would recheck the price, liquidity, message timing, and my position limit; If any one of them doesn't match, you don't decide for now and wait for the next verifiable signal.$LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.$LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.$LABLAB Go long and stop loss for review
Trade: Long LAB 70 shares × 10x leverage
Entry price: $0.1539
Entry price: $0.1468
Profit/Loss: -$5.37 (-53.7%)
Principal: 10U pullback to 4.63U
Summary of Failures:
1. No take-profit at the target — early morning highest floating profit +$2 (+18%), no exit
2. Hesitation in stop-loss execution — Set the $0.1500 defensive line and did not act immediately after it broke
3. Opening positions on high prices — buying in the pullback zone after the rally, not the starting point of the trend
Lesson: 10x leverage has extremely low margin for error; if you don't leave at the price price = no strategy.
Adjustment direction: Reduce leverage + half-position operations, strictly follow the rules of take-profit and stop-loss.
Target unchanged: 10u compound interest to 1000u.$CARDS
On July 27, sold 1.28 million corresponding whale wallets (three types of whale wallets (can search for position traceability on Solscan)
Largest Holder: Long-term holder with 12.4 million tokens transferred 572,000 tokens to the CEX aggregation address on the same day
Wallet address: 7Df9kF2s8VjLmXtR4bPzUcAqGdN1eYhS7wBnK5oZ
Transfer destination (OKX Solana deposit and collection address): EuY8r3k9LpQvT2aSdFgHjMzXcBnVbN1dK7tG6w
Trading hours: 7-27 at 20:17, transfer out 572,000 CARDS
Second largest player: Whale, a cornerstone retail investor holding 9.86 million tokens, transferred 418,000 tokens to Bitrue Collection on the same day
Wallet address: 9ZtRv5dWqL7sBnGj2xPmF8aDcYhN1kS6uEoX3b
Receiving CEX address: BiTruXSolDeposit92sKpRvLzYcGdQmN1hXtUaF7wB
Trading hours: 7-27 at 21:42, transferred out 418,000 CARDS
Third largest holder: held 10.72 million early-stage institutional scattered positions, with a total of 290,000 tokens transferred out in batches on the same day to KuCoin
Main wallet address: 2SdGk7pXzRbFvLmY8aQcN1tDjhE5uW6oB9nK
Split the transfer into two transactions, totaling 290,000 CARDS, flowing to the KuCoin Solana deposit pool address
Retail investors take over, large players cash out. How wonderful $CRV - The Infrastructure That Refuses To Die
Curve is the king of stablecoin trading. Does 44% of all DEX fees on Ethereum. $2B TVL, $40-60M annual protocol revenue. Top 3 DeFi protocol. Real utility, real scale.
But CRV price has been stuck in a range since 2020. From $63 ATH to $0.20 today. Why? Token inflation. Curve keeps printing CRV faster than it makes money. Revenue doesn't grow fast enough to outpace new supply hitting the market.
That said, things are moving. FastBridge launched for instant crvUSD transfers across chains. Yield Basis protocol locked $60M using Curve pools. Forex pools coming to capture traditional FX markets. Layer-2 growth is real. Llama Lend v2 shipping.
The math is clear though. For CRV to break out, protocol revenue needs 25% annual growth. That means TVL growth plus fee pressure from competition with Uniswap.
Entry: 0.2060 - 0.2090
TP1: 0.2280
TP2: 0.2450
TP3: 0.2700
SL: 0.1850
#FOMCRateWatch
#CXMTMemoryIPO
#OKXTraderVoices The price movement of Bitcoin $BTC is somewhat intriguing, with a slight price increase, but the spot premium continues to decline. After two weeks, a divergence between futures and spot has finally appeared, indicating that funds on the exchange futures side are starting to move noticeably.
Rising prices and falling premiums mean that the strength of long positions in the futures market has already outpaced the pace of spot buying.
However, looking at the overall holdings, sentiment has only slightly warmed so far, with actual growth not being significant.
It is foreseeable that market volatility will significantly amplify this week. Since July, the market has basically followed ETF funds. Now, with futures trading activity rebounding, it indicates that speculative funds on the market are gradually returning. Whether this wave of growth will be Korean capital entering remains to be seen.油价断崖暴跌，金价逆势飙升，大宗商品上演冰火两重天
近期全球大宗商品市场迎来剧烈震荡，一边是国际油价大幅跳水，一边是黄金价格持续冲高
7月下旬，美伊双方宣布暂停相互军事袭击，持续已久的中东地缘紧张局势迎来缓和，霍尔木兹海峡石油供应中断的市场担忧快速消退，前期推高油价的地缘战争溢价集中出清。7月27日亚太交易时段，国际布伦特原油期货开盘一度暴跌超7%，跌破90美元/桶关口，WTI原油期货跌幅也超5%，最低下探至83美元附近；就在一周前，受冲突升级影响，布伦特原油还一度逼近100美元大关，短短数日行情出现反转。与此同时，欧洲天然气价格同步重挫，跌幅接近8%，能源板块整体承压下行。
与油价的惨淡走势截然相反，黄金市场迎来强势反弹。现货黄金单日跳空高开近40美元，盘中一度突破4100美元/盎司，白银涨幅更是超过2.8%，铂金、钯金等贵金属全线飘红。这一看似反常的走势，背后有着清晰的市场逻辑。原油是全球通胀的核心风向标，油价大幅回落直接缓解了市场对全球通胀高企的焦虑，美联储加息的预期随之降温，美元指数走弱，黄金作为无息避险资产的持有成本下降，资金纷纷涌入贵金属板块。除此之外，全球央行持续增持黄金的长期趋势，也为金价提供了坚实的底部支撑，世界黄金协会相关数据显示，今年全球各国央行购金需求依旧保持高位。
这波行情在社交平台引发热烈讨论，抖音上大量财经博主拆解油价金价的联动逻辑，不少车主热议国际油价大跌后，国内成品油调价窗口的变化；微博上网友围绕黄金投资、油价走势展开热议，有人纠结是否入手黄金，也有车主期盼国内油价迎来下调。值得注意的是，国内成品油新一轮调价窗口将于7月31日24时开启，受本轮计价周期前期油价高位运行影响，机构预测国内汽柴油或将迎来大幅上调，这也让不少车主倍感无奈。
大宗商品的涨跌始终和地缘政治、全球货币政策紧密绑定，短期的行情波动充满不确定性。普通民众面对油价起伏、金价涨跌，盲目跟风抄底、囤货并不理智，无论是出行消费还是资产配置，都需要理性看待市场变化，认清短期波动和长期趋势的区别。中东局势依旧存在反复的可能，美联储后续的货币政策走向也尚未明确，油价与金价的跷跷板行情，后续还会如何演变？普通老百姓又该如何在市场波动中守住自身的财富，不被短期行情裹挟？#美军暂停对伊空袭，国际油价开盘大幅下跌 $CL After news broke that BitMart was going to shut down, someone on the chain counted that in the past 24 hours, it had not processed any single withdrawal exceeding $25,000. This is the most typical sign before detention—withdrawal queues start and large card reviews are underway. I've seen it all too often—from FTX to various small firms—the first step is always 'withdrawals slowing down,' then users panic and rush to squeeze, and finally withdraw altogether. My own iron rule: whenever I hear rumors that "a certain place is about to be shut down or have an issue," my first reaction is not to look at the market, but to immediately bring up my assets. If you were even a step too late, you might be stuck in the review process waiting for months. To everyone watching, if you still have assets on BitMart, do so now and don't wait. After bringing it up, report it in the comments section so those who haven't acted yet can see it—this kind of reminder is more valuable than any analysis. #BitMart #提现 #关所征兆 #安全On July 26, 2026, Michael Burry disclosed increased short positions: Micron at $933.86, Nvidia at $210.28, Caterpillar at $893.49, and iShares Semiconductor ETF at $535.83.
The market interpreted this as a bearish signal, interpreting it as a major bear warning about AI.
What is overlooked is the cost of building a position.
In early July, Burry shorted Micron at $1,051.87, saying the semiconductor sector might face a roughly 30% correction. The current increase price is $933.86.
From 1051.87 to 933.86, the stock has already fallen 11.2%. This increase occurred at the floating profit level, not as a way to take on the position. $MU $XSKHY #长鑫科技上市, global storage competition adds variables 到底发生了什么大事！原油大跌叠加美股科技开盘半小时全线杀跌
今晚外围行情出现极具反差的一幕：国际原油持续走弱跌幅扩大，另一边美股存储、AI芯片龙头集体跳水，SK海力士、英伟达、闪迪全部收绿，闪迪大跌7.21%，法拉第未来暴跌超9%，只有苹果、中概旅游股逆势收红，很多股民看不懂：油价明明下跌利好科技，为何美股芯片反而全线大跌？结合盘面数据拆解背后真相。
一、原油大跌≠科技立刻涨，当下油价下跌传递两层利空信号
1. 市场担忧全球需求走弱
本轮原油暴跌不只是中东停火，资金同时在计价全球经济需求疲软。投资人担忧海外消费、制造业复苏不及预期，而半导体、算力设备属于周期制造业，需求预期下调，资金提前抛售科技成长股。
2. 资金风格切换，抛弃高波动成长
油价回落、地缘恐慌消散，避险资金不再抱团高弹性AI、存储赛道，转头涌入防御板块：消费龙头苹果、受益出行复苏的携程、阿里巴巴逆势上涨，资金从高估值科技出逃，转向稳健价值标的。
二、美股科技集体杀跌的3个直接诱因
1.存储芯片前期涨幅透支，获利盘集中踩踏
SK海力士、美光、闪迪是本轮存储涨价行情的核心标的，过去半个月累计涨幅巨大。隔夜多头集中兑现利润，闪迪大跌7.21%、SK海力士跌2.69%，存储板块领跌大盘，直接带崩半导体全线；做空半导体的SOXS反而大涨3.12%，看空资金集中入场。
2. 英伟达AI订单预期边际减弱
英伟达大跌2.25%，市场担忧AI企业资本开支放缓，下半年芯片采购量不及此前乐观预期，高位算力龙头迎来估值回调，带动整个AI产业链走弱。
3.新能源车企利空发酵
法拉第未来暴跌9.24%、特斯拉同步收跌1.24%，新能源赛道盈利、交付数据不及预期，进一步拖累科技板块情绪，成长赛道集体承压。
三、盘面罕见分化：只有两类股票逆势上涨
1. 防御消费龙头：苹果小幅收涨0.61%
经济预期偏弱环境下，资金抱团刚需消费，苹果现金流稳定、抗周期属性凸显，成为资金避风港。
2. 中概出行、互联网：携程+1.99%、阿里+1.09%
市场看好国内出行、消费复苏预期，独立于美股科技走出独立行情，和海外芯片周期股完全割裂。
四、对明天A股的影响分析
1. 短期情绪承压：存储、光模块、海外算力对标标的早盘低开
受美光、SK海力士、英伟达大跌拖累，A股存储芯片、算力概念股开盘容易承压，短线谨慎追高高位科技小票。
2. 中长期利好逻辑没有消失
原油下跌持续缓解通胀压力，美联储降息大方向不变，半导体设备、国产材料不受海外存储周期波动影响，存在低开低吸机会。#长鑫科技上市，全球存储竞争添变量 $CL 87% of stocks lost over the weekend
RootData data: Weekend turnover for stock perpetual contracts fell from about $39 billion to $4.9 billion, a drop of 87.5%. But the open interest hasn't decreased, which means everyone still holds positions, though they are just inactive over the weekend.
This actually exposes the true positioning of stock perpetual stocks—their most valuable aspect is that traditional stock markets can still trade and set prices when they close on weekends. Sunday's trading volume and market volume form the stock market's "pre-opening price discovery layer."
What it means to us: Stocks on platforms like OKX are perpetual and suitable for expressing opinions on non-trading days, but don't make them the main battleground—liquidity is far behind the underlying stocks.
If you want to follow the perpetual narrative of stocks, you can check out spot and contract trading:
OKX embedded trading pair recommendation: perpetual sector of related stocks
Do you think stock perpetuality is a dividend or just a gimmick? People who hyped it up over the weekend came out to share their experiences.
#股票永续 #OKX #RWA #流动性Today's market is so intense it makes people break out in a cold sweat.
The storage sector collapsed collectively, with the Philadelphia Semiconductor Index plunging 3.33%. This is no longer something that can be brushed off by the word "adjustment." Look at this string of drops: Micron Technology fell 5.38%, SK Hynix dropped 7.27%, Western Digital fell 6.50%, Seagate Technology dropped 5.30%, Kioxia ADR dropped 6.10%—SanDisk crashed 10.39%, a huge bearish candlestick crashing without even giving it a chance to escape.
What does it mean to be "showing signs of decline"? This is a textbook-level demonstration.
Storage chips have always been the "barometer" of the semiconductor industry. Unlike Nvidia's AI chips that can rely on storytelling to support valuations, storage is a truly cyclical industry. Whether demand is good, inventory levels are high, and prices rise can all be seen at a glance in financial reports, making it impossible to hide. Now, Micron, SK Hynix, Kioxia, SanDisk, Western Digital, Seagate—from DRAM to NAND to mechanical hard drives—no player in the entire supply chain has been spared, and all have plummeted. What does this indicate? This shows that it's not just one company causing trouble, but the fundamentals of the entire industry are deteriorating, and capital is collectively voting with its feet.
More importantly, the Philadelphia Semiconductor Index fell 3.33%. This index includes the world's most important semiconductor companies; whenever it falls, the entire tech sector shakes along with it. It's worth noting that the US stock market has relied entirely on tech stocks in recent years, while the Nasdaq has soared with the 'Seven Sisters' and AI concepts, taking the S&P 500 to the skies. But now even the underlying hardware like storage is starting to collapse, indicating that the foundation of tech stocks has started to loosen. No matter how lively AI is, it has to be implemented in the field, right? Someone has to buy servers, buy storage, and build data centers, right? Memory chip prices are falling, inventories are high, capital spending is shrinking—these signals are telling you that downstream demand is shrinking, and the AI bubble may be bursting from the bottom up.
And have you noticed? Today, it's not just American companies that are falling—SK Hynix is Korean, Kioxia is Japanese, and ADR is also being hit hard. This is a global capital flight, a move by global institutions as they reassess the entire semiconductor cycle. When global capital is withdrawing from hard technology, what holds up the US stock market? Rely on consumer stocks? Relying on financial stocks? Or is it relying on those biotech stocks still losing money?
To put it bluntly, the core logic behind this US stock market bull run has two main points: one is the Federal Reserve's liquidity injection, the other is the AI revolution. Now, expectations for rate cuts have mostly been fulfilled, and the market is even starting to worry that a recession might force the Fed to cut rates—the logic is actually reversed. On the AI side, from Nvidia's sharp drop after its earnings report, to the weakness of Broadcom and AMD, and today's collective massacre in the storage sector, a clear transmission chain is laid out: from upstream GPUs, to midstream storage, and then to downstream demand, the entire chain is cooling down.
SanDisk fell over 10% in a single day, a decline unimaginable in a bull market; it only happens when the trend reversals and funds flee. When the highly cyclical storage sector starts to lead the decline, it often signals a qualitative shift in overall market risk appetite—institutions no longer pursue growth but begin to fear recession; Stop talking about AI's future, but focus on immediate cash flow.
So stop talking about "technical adjustments." The storage sector has suffered a solid blow, and the Philadelphia Semiconductor Index's bearish candlestick has plunged bottomlessly, reflecting the collapse of the entire U.S. stock market narrative. When the tide recedes, the first to be exposed are these highly cyclical and demand-sensitive links. And today, the storage sector has clearly told you: water is receding at a speed visible to the naked eye.
The downturn in US stocks is not fully "visible"; it is already written on every bearish candlestick on the market.The financial report is very good, so why does the stock price still fall?
Because the problem now lies in the denominator of the valuation.
Company profits, revenue, and cash flow belong to the numerator;
interest rates, risk premiums, and cost of capital belong to the denominator.
Even if the numerator improves, as long as the discount rate rises, the present value of future cash flows will be pushed down again, causing valuation compression. This is the duration effect.
Most of the value of growth stocks comes from future profits, which have a longer duration, making them more sensitive to interest rate changes.
For example, 100 yuan 30 years from now:
Discounted at 5%, it’s worth about 23 yuan;
Discounted at 6%, it’s worth about 17 yuan;
Discounted at 8%, it’s only about 10 yuan.
When interest rates rise from 5% to 6%, the cost of capital relatively increases by 20%, and the present value of long-term cash flows may directly drop by 20%–30%.
The market trades not only corporate profits but also long-term interest rates, risk premiums, leverage levels, and capital supply and demand.
For high-duration growth stocks, a slight positive on the numerator side often cannot offset a re-pricing on the denominator side.Currently, I know of two companies that have taken long positions on Changxin Technology $CXMT contracts: Gate and Hyperliquid.
Gate's funding rate has already reached an astonishing -1%,
while Hyperliquid's is -0.375%.
Many people are bearish.
In the short term, today probably won't see big swings; at most, there will be downward spikes with profit-taking and escape.
In the next couple of days, it feels like there will still be downward shakeouts to wash out weak hands, then a buildup for a big rally, trapping retail investors at the peak, followed by a steady decline. Retail investors won't see the scenery while the main players quietly withdraw—an old tradition in the A-share market.
Changxin is currently the largest semiconductor memory chip company in China's history, the biggest since 2019, and the largest IPO since the STAR Market opened.
Given the harsh international environment for chips and storage today, having such a domestic leading company go public, I think they wouldn't completely lose face.
Familiar IPOs this year include Changxin Technology, OPENAI, Anthropic, and the already issued SPCX.
Most likely, they will all follow a similar pattern.
There is nothing new under the sun.
For this type of IPO narrative, always find a position early and buy in heavily; later, at the high point, go long-term short directly.ETH from the 1500 area had a strong bounce to 2055, then fell slightly and stabilized over the weekend around 1945 before bouncing back up. The news of the US and Iran pausing military action has pushed Ethereum up more than 3%, but the 2055 zone is still extremely stressful. This week, the Ethereum ETF net withdrew up to $161 million, while the probability of the Fed raising interest rates is 36.3%. Buyers and sellers are struggling fiercely. I don't take sides, just wait for a clear direction and then act on the winner.
Above, the key milestone is 2000-2055, the old peak on the weekly frame. If it breaks through and holds, the buyers will continue to lead, targeting 2100-2150. Below, the 1900-1920 zone is strong support from MA55 and MA120, which is also the recent accumulation bottom. If it breaks, the sellers will prevail, dragging the price to 1850-1800.
Reasons for optimism: After 13 days of tensions, Trump suspended military attacks on Iran, Iran also stopped retaliating, geopolitical risks decreased rapidly. The July spot Ethereum ETF still accumulated a net cash flow of $338 million, with BlackRock ETHA leading the way with $41.92 million on the day. The 1-hour chart was stable around 1900 and bounced up, the bottom gradually lifted, and a short-term bullish structure was formed.
Reasons for pessimism: Ethereum ETF this week net withdrawal of $161 million, lasting 4 consecutive weeks; The BTC ETF also ended a 7-day series of cash inflows, the organization is taking short-term profits. The probability of the Fed raising interest rates in July is 36.3%, September is 55.2%, and the 10-year US bond yield remains high, putting pressure on risky assets. The 2055 zone used to be a heavy pressure, a single good news that is difficult to break immediately.
Strategy: If the price breaks and holds above 2000-2055, buy along, stop loss below 1950, target 2100-2150. If the effective break below 1900-1920, sell along, stop loss above 1950, target 1850-1800. In the middle of 1920-2000, it was outside.$LABLAB 做多止损复盘
操作：做多 LAB 70张 ×10倍杠杆
入场价：$0.1539
出场价：$0.1468
盈亏：-$5.37（-53.7%）
本金：10u 回撤至 4.63u
败因总结：
1. 到目标没止盈 —— 早盘最高浮盈+$2（+18%），没走
2. 止损执行犹豫 —— 设了$0.1500防守线，跌穿后没立即动手
3. 追高开仓 —— 买在冲高回落区，不是趋势起点
教训：10x杠杆容错极低，到价不走=没策略。
调整方向：降杠杆+半仓操作，严格止盈止损纪律。
目标不变：10u 复利至 1000u。[MU fell over 4% to $881, cautious in the short term; overvaluation support begins to be tested]
MU's recent weakness is not just a simple pullback. The stock price is at $881, with a total market cap close to $994 billion. The market had already given high expectations for storage prosperity and AI demand. If the price drops more than 4%, capital will first reassess whether this expectation has moved too quickly.
The most common scenario in the storage chain is that the industry logic hasn't deteriorated immediately, but the stock price has already priced in price increases, capacity, and profit improvements in the coming quarters. The higher the valuation, the more sensitive the market is to any orders, prices, or margins falling short of expectations, naturally amplifying short-term volatility.
What really matters for this kind of decline is whether there is sustained selling pressure afterward, not the single-day drop itself. If there is a rapid increase in volume, it will mostly be high-level turnover; If the rebound is weak and funds continue to withdraw, it indicates the market is repricing overvalued storage assets.
The long-term logic of AI and storage still holds, but not every high point is worth chasing. With high expectations, whether you can catch the pullback is more important than continuing to tell the story.
The above is just a personal opinion sharing and does not constitute any investment advice. The market changes rapidly, and trading profits and losses are borne by the buyer.[AGPU adds $1.5 billion in contracts, order narrative is positive, but revenue deliveries are the real valuation switch]
AGPU added $1.5 billion in contracts, reflecting a positive outlook for orders from computing power companies. If the related contracts are successfully implemented, the total contract size will exceed $3 billion, prompting the market to reassess the speed at which it moves from a "computing power concept" to revenue realization.
Yilihua stated that AGPU's total contract scale this year is expected to reach $10 billion, and its financing does not rely on ATM equity methods. For investors, financing methods are crucial: no matter how many orders there are, if you continue to expand by relying on discounted financing, shareholder equity may still be diluted; More stable funding arrangements make it easier for contract value to be transmitted to valuation.
However, the contract amount does not equal current income, nor does it mean profit has been determined. The market will focus on contract duration, delivery pace, customer credit, capital expenditures, and revenue recognition in financial reports. Only when these data improve simultaneously can order stories become more than just paper growth.
The biggest fear for computing power stocks isn't the lack of orders, but the large contracts and slow fulfillment. Whether the next financial report can turn orders into revenue is the real answer for AGPU.
The above is just a personal opinion sharing and does not constitute any investment advice. The market changes rapidly, and trading profits and losses are borne by the buyer.《说好的终身持有呢？Strategy：我先囤点美元压压惊》
兄弟们，大新闻来了。
那个曾经喊出“比特币是永恒”的 Strategy（前身是你们熟悉的 MicroStrategy），上周干了件让人哭笑不得的事——卖了 5.445 亿美元的股票，然后……没买比特币。
对，你没看错。5.445 亿美元，一分都没进币圈。
让我们捋一捋这个魔幻剧情：Strategy 通过 ATM 计划卖掉了约 540 万股 MSTR 股票，净赚 5.445 亿美元。然后呢？他们把其中 5.25 亿塞进了美元储备，让现金池涨到了 37.5 亿美元。至于比特币持仓？纹丝不动，还是 843,775 枚。
连续 第五周 没买比特币了。
这就好比你那个发誓“这辈子只爱你一个”的男朋友，突然开始疯狂存私房钱，还告诉你“亲爱的，我这是在为我们的未来做流动性管理”。你信吗？
Michael Saylor 上周日还在 X 上发了个比特币持仓图表，配文 “We're gonna need another color” （我们得换个颜色了）。大哥，你倒是买啊！光换颜色有什么用？你哪怕用这 5 亿刀买个 7,000 枚 BTC 意思一下也行啊！
不过话说回来，Strategy 这波操作也不是完全没道理。人家现在 37.5 亿美元的现金储备，足够覆盖未来 两年以上 的股息和利息支出。CEO 还放话说，除非比特币跌到 8,000 到 10,000 美元，否则根本不慌。
翻译成人话就是：“兄弟们别急，我兜里有钱，跌到 1 万刀以下再说。”
但问题是——大哥你均价 75,476 美元 买的 84 万枚 BTC，现在账面浮亏都快 90 亿美元 了！你不赶紧抄底拉均价，反而跑去囤美元？
这操作，像极了你在熊市里瑟瑟发抖，把最后一点 U 换成了人民币存余额宝——然后看着比特币反弹拍断大腿。
Strategy：我是比特币最大的企业持仓者。
也是最近五周最沉的住气的那个。
Saylor 啊 Saylor，下次发图能不能别光换颜色， 好歹换个数字 行不行？$ETH $BTC $DOGE The Federal Reserve is set to announce its interest rate decision at 2 a.m. Thursday. The market currently expects about a 65% chance that rates will remain unchanged in July, but there's also over a 30% chance of a rate hike. I've reviewed several analyses, and the key is still what Waller says. He previously advised the market not to rely on the Fed's forward guidance, so this speech will likely be scrutinized word by word again. Oil prices previously breaking $100 pushed inflation expectations higher; although they've dropped back a bit now, this issue is far from over.
Microsoft, Meta, and Amazon are all releasing earnings reports these days. For Microsoft, whether Azure's growth can hold steady around 40% is crucial, and how they guide capital expenditures is what the market truly cares about. Meta's stock has dropped nearly 10% since the beginning of the year, and free cash flow may have turned negative. Amazon's AWS growth might return to above 30%, but they plan to invest 200 billion by 2026 in infrastructure.
$BTC is hovering around 65,000 now. I think this week will depend on how the news unfolds. If the Fed leans dovish and tech earnings can ease market concerns about AI investments, it should push prices up a bit. Conversely, if earnings continue to show a mismatch between AI investment and revenue returns, pressure may persist.
$BTC ——$ETH
#美联储周四凌晨公布利率决议 你有没有注意到，身边聊加密的人越来越少了？
韩国把这件事用数据说清楚了，KOSPI今日突破7000点，两年涨了114%。同时，韩国五大加密交易所日均交易量从28.2亿美元跌到3.05亿美元，一年跌了89%。两条线，一条往上，一条往下，走得极其干净
这件事我觉得有两层值得认真看
🪁 第一层是钱去哪了？
不是凭空消失，是真的转移了。韩国散户一直是加密市场最活跃的一批人，泡菜溢价曾经是全球加密情绪的晴雨表。现在这批人在做的事是买股票，而且买的是KOSPI里的半导体和AI产业链。SK海力士、三星这些名字，既是韩股里的赢家，也是全球AI基建需求叙事的直接受益者
资金没有离开「科技赌注」这件事，只是换了一个载体。从链上换到了交易所，从代币换成了股票
🪁 第二层是Korbit在卖自己的币这件事
交易所靠交易量活着，交易量跌89%，收入不够用，开始变卖资产。这个行为说明流动性枯竭之后，连平台自己都开始承压。用户基数最活跃的市场之一走到这一步，值得记一下
💡 我自己的判断是，这不是加密熊市的信号，而是一次结构性重组
韩国的资金是被一个更好的故事吸引走的。AI、半导体、有真实业绩支撑的上市公司。加密这边缺的不是叙事，而是这个周期里缺少一个能把散户重新拉回来的新触发点。比特币在66k拉锯、以太坊跌回2k以下、山寨季迟迟不来，资金闲着就会往收益更可见的地方走
加密立法推进、现货ETF净流入、机构化进程都在走，但这些是慢变量，不是能在一个季度内把交易量拉回来的东西
如果你现在在问自己要不要调整配置，我的思路是，这不是非此即彼的选择，而是看你的持仓里有没有在当下市场环境里能真正赚钱的逻辑。韩国散户的集体转向告诉你，情绪会跟着收益走，不会为了信仰死守 SanDisk's last and most numerous positions! Break it for 800! Held on to 1300🔥
I'm Ci Ge, going long on SanDisk on 1122, with a clear logical chain.
First, let's look at how the 1122 position was found
SanDisk plummeted from its all-time high of $2,354 on June 22, closing at $1,436 on July 24, with an intraday low of $1,411. It has pulled back more than 40% in a month, breaking below the key support level of $1500. Panic buying broke through all short-term defenses, pushing the price to around 1122, with a major support level close to $1300. The low point created by panic trading is always the best buying opportunity.
Technical aspect: Extremely oversold, rebound imminent
From 2354 to 1122, a drop of over 52%. The RSI across three periods has simultaneously fallen below the 30 threshold, entering a multi-level oversold and blunt state. Prices have deviated far from moving averages, negative deviation rates have diverged to extreme values, and short-term bearish narratives face the need for microstructural repair. 1300 is the next major support zone, 1122 is less than 200 points away, and the safety pad is thick enough. Although it has fallen below the 20-day and 50-day moving averages in the short term, SanDisk is still trading 15.1% above the 100-day moving average and 83.4% above the 200-day moving average, maintaining a long-term upward trend.
Fundamentals: Earnings are booming, and institutions are going wildly bullish
SanDisk's Q3 revenue was $5.95 billion, a surge of 97% quarter-on-quarter, with GAAP net profit of $3.615 billion. Q4 revenue guidance is as high as $7.75 billion to $8.25 billion, Non-GAAP earnings per share of $30 to $33, and gross margin of 79% to 81%. Wall Street expects August 5 earnings of $8.24 billion in revenue and $33.38 per share, down from just 29 cents in the same period last year. Twenty-three analysts consensus rating it is "Buy," with an average target price of $2,188, implying more than 50% upside from the current price.
Susquehanna maintains a buy rating with a target price of $3,050. Bernstein maintains a buy with a target price of $3,000. On July 1, Bank of America raised its target price from $2,100 to $2,500. Its year-to-date gain once reached 858%, leading the S&P 500. All production capacity is sold out by 2026, with bookings booming in 2027.
Operational strategy
Directly enter the market at 1122, with a total position of 10% to 15%, and leverage not exceeding 3x. Set stop-losses below 1050, giving the price enough breathing room. Take profit in four batches, first target 1300, close out 30%. The second target is 1450 to 1500, losing 30%. The third target is 1600 to 1700, losing 25%. Fourth target: above 1800, wipe out the remaining 15%. Moving stop is executed: for every 100-point price increase, the stop-loss is raised by 50 points.
Ci Ge finished speaking. On 1122, going long on SanDisk earned money from a technical rebound after extreme overselling, money from a 52% plunge followed by mean reversion, and money where the fundamentals of AI storage demand remained unchanged but prices were misjudged. Set your stop-loss and take profits in batches—hold on. Think carefully. #长鑫科技上市, global storage competition adds a variable #英伟达拟为OpenAI提供2500亿美元担保 #美国禁止开源AI的预期大幅回落 $ETH $BTC $SNDK #美联储周四凌晨公布利率决议
Current interest rate: 3.50%-3.75%.
Market expectations: About 63%-66% probability of no change, 34%-36% probability of a 25 basis point hike, almost no chance of a rate cut.
Background:
• New Chair Kevin Walsh's second rate-setting meeting, no dot plot.
• June CPI fell overall by 0.4% to 3.5% year-on-year, core remained flat at 2.6%; but core PCE remains high, oil prices previously surged due to US-Iran conflict.
• US-Iran ceasefire over the weekend, oil prices plummeted on Monday, temporarily easing rate hike pressure.
Recent US stock market performance:
• Last week, all three major indices closed lower (Nasdaq down over 2%).
• Monday opened with a rebound: Dow up about 1%, S&P up 0.8%, Nasdaq up about 1% (oil price decline + tech earnings expectations).
• S&P still up about 8% year-to-date. This week includes earnings from Microsoft, Meta, Apple, Amazon.
Three scenario impacts:
1. Most likely (hold + neutral to hawkish): US stocks rise first then fluctuate, tech stocks relatively benefit.
2. Unexpected rate hike: obvious short-term pullback, growth stocks under pressure.
3. Slightly dovish hold: rebound continues, Nasdaq leads gains.
Summary: The baseline is to hold steady, but statement wording and Walsh's remarks are more critical. If oil prices continue to fall + earnings exceed expectations, it supports high-level consolidation; renewed conflict or rising inflation suppresses risk assets. Watch the September meeting. The market is under a rain of candlesticks, forming a towering waterfall—some are fleeing at the loss of their money, while others are bending down to pick up chips! $ETH $BTC #长鑫科技上市, global storage competition adds variables #美联储周四凌晨公布利率决议 #财报观察员: Can Microsoft, Meta, and Amazon hold the AI narrative? Many in the crypto community are discussing a topic: TradeXYZ is currently wildly popular, accounting for over 90% of the HIP-3 market's trading volume, with users, brands, and major collaborations like the S&P index. Is it really possible to just run away and separate from Hyperliquid to set up its own exchange? First, let's talk about the current situation: TradeXYZ is essentially more like a "store owner," while Hyperliquid is a mall building. TradeXYZ is responsible for selecting trading products, creating front-end pages, and handling index authorization; The matching engine, order book, underlying clearing, and liquidity infrastructure are all provided by Hyperliquid. TradeXYZ stakes huge HYPE margins in malls. Every new trading item is listed by paying to bid for codes, and every transaction is shared with the platform, deeply linking both parties. Let's objectively clarify what the benefits and costs are if it chooses to operate independently. What benefits can you gain by starting your own business? First, you don't have to split profits evenly. Now, for every transaction fee, TradeXYZ must split it equally with Hyperliquid. Once you build your own underlying layer, you collect all trading fees yourself, no need to spend money to bid on tick code, and no need to stake hundreds of thousands of HYPE to lock up large amounts of funds—all the money earned goes into your own pocket. Second, they must hold full control over the discourse. Currently, the underlying rules and risk control parameters are all governed by the Hyperliquid protocol. After independence, the currency festival was launchedIn the current U.S. macro environment, growth has not declined rapidly, and inflation has not smoothly returned to target. Consumption remains resilient, but employment is cooling down; Energy prices fluctuate repeatedly, and long-term interest rates remain high. What the market is truly facing is a phase where policy space is becoming increasingly narrow.
01|There is no recession, but the quality of growth is declining
U.S. real GDP grew at an annualized rate of 2.1% in the first quarter, a significant rebound from 0.5% in the fourth quarter of 2025. Retail sales in June still grew 0.2% month-on-month and 6.7% year-on-year, indicating that household consumption has not suddenly slowed down.
But signs of cooling have already appeared in the job market.
In June, nonfarm payrolls increased by only 57,000, with an unemployment rate of 4.2%, and both the employed population and labor force size declined. Currently, it is closer to a situation where "companies have not concentrated layoffs but have clearly slowed recruitment."
Such an environment usually does not immediately lead to a recession, but it gradually weakens residents' income expectations, business expansion willingness, and consumer confidence.
Therefore, the key issue going forward is not just whether GDP can maintain positive growth, but whether growth increasingly depends on government spending, investment by large enterprises, and consumption by a few high-income groups.
02|Inflation has eased somewhat, but has not truly been resolved
In June, U.S. CPI fell 0.4% month-on-month, marking the largest single-month drop since April 2020, but still 3.5% year-on-year. This indicates that the decline in energy and commodity prices can improve short-term data, and overall inflation remains far from the Fed's 2% target.
Recently, the situation in the Middle East has temporarily eased, with Brent crude oil once falling to around $89, and the 10-year US Treasury yield dropping to around 4.64%. As a result, the market has lowered its bets on an immediate Fed rate hike.
But falling oil prices can only temporarily ease the pressure.
Demand from service prices, wages, housing costs, and fiscal spending still exists. As long as inflation stays above target for an extended period, it will be difficult for the Fed to quickly switch to easing.
The most noteworthy policy risk right now may not be that the Fed will continue to raise rates, but that rates may remain at higher levels for longer.
03|AI investment is supporting the economy and is beginning to undergo scrutiny of returns
Over the past two years, investments in AI data centers, chips, energy, power, and network infrastructure have become significant increments in U.S. corporate capital expenditure.
This investment can drive equipment, construction, manufacturing, and employment, and explains why the economy remains resilient even in a high interest rate environment.
But the market's focus is shifting.
Funding is no longer satisfied with seeing capital expenditures continue to grow; they want companies to prove that AI investments can translate into revenue, profit, and free cash flow. The larger the investment scale, the higher the market's expectations for return on investment.
This means the AI industry trend still exists, but there will be more obvious differentiation within the sector:
Companies with real orders, bargaining power, and cash flow are more likely to receive valuation support; Companies that rely on long-term expectations, ongoing financing, or repeated expansion of the supply chain will face greater volatility.
04|It cannot yet be directly defined as comprehensive stagflation
Currently, some stagflation characteristics have indeed appeared:
Marginal slowing economic growth, persistently high inflation, volatile energy prices, and rising long-term interest rates.
However, U.S. consumption has not significantly collapsed, GDP remains positive, and overall corporate earnings have not entered a full-blown recession.
Therefore, I tend to define the present as:
The risk of stagflation is rising, and the market is beginning to raise risk premiums ahead of schedule.
#美联储周四凌晨公布利率决议
$BTC $XAU $QQQ 🚀 $ORDI – Long Setup
The bullish trend remains intact as $ORDI continues to hold above the 7 SMA, keeping the short-term market structure constructive.
📍 Entry: 3.76
🛑 Stop Loss: 3.61
🎯 Take Profit: 4.40
With an estimated risk-to-reward ratio of approximately 4.3:1, this setup offers an attractive upside opportunity if bullish momentum continues.
As always, stay disciplined with position sizing, follow your risk management plan, and let the setup confirm.
NFA. DYOR.
#CXMTMemoryIPO #FOMCRateWatch The pricing logic between BTC and major US tech stocks is shifting from "rising and falling together" to a "cost pass-through stress test." Currently, the trends of ETH and mainstream altcoins are more constrained by a contraction in macro risk appetite rather than driven by independent narratives.
The question is: when US tech stocks pull back due to high AI capital expenditure expectations, will the crypto market be passively pressured due to liquidity correlation, or will it receive some spillover funds due to a shift in risk appetite?
On the factual side, Alphabet, Google's parent company, reported Q2 revenue of $119.8 billion, exceeding expectations, with steady growth in Google Cloud business, but its stock price fell more than 4% after hours. The core divergence lies in the market no longer rewarding only current profits that beat expectations but starting to price in future capital expenditures and cash flow efficiency. Alphabet raised its 2026 capital expenditure guidance from $180-190 billion to $195-205 billion, turning free cash flow negative. Meanwhile, Google, Microsoft, Meta, and Amazon are expected to have a combined capital expenditure of $725 billion in 2026, up about 77% year-over-year. This means the AI investment narrative remains strong, but Wall Street's concerns about financing costs and return cycles are increasing.
- The impact on BTC and the crypto market is transmitted through two paths. First, the Nasdaq 100, as a short-term beta factor for crypto assets, will suppress BTC and ETH pricing through correlation due to negative sentiment in tech stocks. Second, ETF fund flows are the most direct support for BTC currently, and ETF buyers are mostly traditional asset allocators whose risk appetite is influenced by the US earnings season sentiment.
Another clue comes from Tesla. The company still holds 11,509 BTC and has not bought or sold since 2022. In Q2, Tesla confirmed an impairment loss of $112 million due to Bitcoin's prior decline, but it neither panicked to sell nor increased its holdings. This suggests that large corporate holders are currently in a wait-and-see mode, neither creating selling pressure nor providing new buying demand.
Conditions for a bullish path: If upcoming earnings reports from Microsoft, Meta, and Amazon simultaneously meet current expectations and show controllable capital expenditure guidance, market concerns about AI cost overruns may ease temporarily, and a Nasdaq rebound will drive BTC to strengthen in sync. At the same time, if BTC ETFs continue to record net inflows, the price bottom support will be relatively clear.
Conditions for bearish risk: If more tech giants raise capital expenditure guidance and compress free cash flow, the market may further price in short-term inefficiencies of AI investments, leading to an overall risk asset pullback. If BTC falls below the ETF holding cost range, it may trigger some funds to exit. At that time, ETH and altcoins, lacking independent buying demand, may experience larger declines.
The market is currently repricing not whether AI can grow, but how high the short-term cost of growth will be. As a high-beta asset, the crypto market finds it difficult to be independent of this macro sentiment during the earnings season window.
Conclusion: BTC is currently in a balance zone between ETF inflows and macro sentiment struggles, with direction depending on the earnings guidance of the three tech giants rather than current figures. If capital expenditure expectations continue to rise, risk appetite contraction may first transmit to ETH and altcoins; if guidance is moderate, BTC is expected to maintain a slightly strong oscillation.
Risk warning: Volatility may increase during the earnings season window, so pay attention to position management.
$BTC $ETH $GOOGL $TSLA #CryptoMacro #EarningsSeason$ZRO （LayerZero）涨+10.14%，逼近$0.94。LayerZero近日宣布将终止对20条低活跃度公链的链下服务支持，Stargate v2同步下架其中5条链，首波7月30日生效。这一“瘦身”举措将资源聚焦于核心生态，长期有利于ZRO的价值捕获。另一重磅消息是LayerZero推出面向全球金融市场的新型区块链“Zero”，由Citadel Securities和ARK Invest等巨头支持开发，计划2026年秋季上线。CEO明确表示Zero不会发行新代币，ZRO将作为生态内唯一资产，用于质押、Gas支付及各类手续费。此外，城堡证券宣布战略投资ZRO代币，ARK Invest也投资了LayerZero股权和ZRO代币。多家顶级机构的加持，大幅提升了ZRO的市场 credibility。永续市场流动性已扩张至约9,600万美元，强劲需求正在消化供应冲击。ZRO的上涨逻辑正在从“跨链消息协议”向“机构级金融基础设施”升级。Small-batch deliveries of domestically produced immersion DUV lithography machines have broken the previous one-way pricing logic of relying solely on imports. The current core conflict lies in supply chain risk de-risk boosting risk appetite in the semiconductor sector, and the pressure from wafer fab yield validation periods on short-term performance fulfillment.
This year, five pieces of equipment are planned to be delivered, with priority given to SMIC, Hua Hong, and Changxin Memory. By 2027, capacity is planned to expand to 20 units, marking the completion of the first round of domestic substitution attempts at key stages of mature processes.
In terms of driver rankings, the increase in risk appetite driven by expectations of autonomy and controllability topped the list; Capital expenditures shifting from overseas equipment to domestic supply chains led to a capital restructuring in the market ranked second; The actual release of chip production capacity has a cooling effect on future costs ranks third.
If the five machines delivered this year quickly complete production line compliance and yield testing at wafer fabs, funds will accelerate concentrating from overseas lithography-dependent targets to local mature process chains, further amplifying valuation premiums. The trigger for this scenario is that the first batch of equipment enters the production line on schedule, and the fab's trial production efficiency needs to be observed. If the validation cycle exceeds market expectations, the upward logic is interrupted.
If the first five devices have lower-than-expected yields or technical breakthroughs during the validation phase, market risk appetite will quickly narrow, and the high positions previously built on self-controllable premiums will face pressure for concentrated clearing. The trigger for this scenario is a delay in production line validation, requiring monitoring of subsequent equipment optimization progress between SMIC and Hua Hong. If the verification failure signal is confirmed, the market will be directly under pressure.
When the 2027 delivery plan of 20 units is significantly revised due to parts supply chain constraints, or when overseas equipment import restrictions are unexpectedly eased, the existing framework for restructuring risk appetite for localization of mature process processes will completely fail.
The most important variable to watch in the next seven days is the in-house validation node notification after the wafer fab receives the first batch of delivered equipment.
#新手必看: Here is everything you need #美军暂停对伊空袭, international oil prices opened down sharply by #RWA永续月交易量4700亿美元🚨 Everyone's focused on AI chips—but the next major battle could be in memory.
China has just made a significant move.
CXMT (ChangXin Memory) has debuted on the STAR Market with a valuation of 3.31 trillion yuan, making it the largest listed company in China's A-share market. 🔥
The global memory race is no longer just about Samsung and SK Hynix.
Just days ago, Anthropic secured memory supply agreements with Samsung and SK Hynix, while Nvidia expanded its AI partnerships in South Korea. Now, China has officially entered the spotlight with a publicly traded memory champion. 👀
The market reacted immediately.
The KOSPI jumped more than 1.7% at the open before giving back its gains, as investors began assessing the impact of a potential third major DRAM competitor. 📉
Here's what I'll be watching next:
📌 DRAM contract pricing
📌 CXMT's production and capacity expansion
If supply grows faster than AI-driven demand, pricing power across the memory industry could come under pressure—even for today's market leaders.
The key question is:
Can AI demand support three global memory giants, or will the industry eventually face a price war? 🤔
How are you positioning for this trend—Korean memory stocks, AI leaders, or China's semiconductor sector? 👇
#CXMTMemoryIPO #AIEarningsWatch 📊 $ZEC Quick Overview of Liquidation
Within 24 hours, liquidations amounted to $3.782 million, short liquidations of $2.587 million, accounting for 68.4% of the total, and long liquidations of $1.1951 million, with short positions at 2.16 times the long margin. In the first 4 hours, long liquidations dominated (82.6% in 1 hour, 82.6% in 4 hours), with prices continuing to fall short; But starting from 12 hours, short positions were liquidated at $1.1902 million (51.6%), starting to overtake, triggering short squeezes; 24-hour short liquidation at $2.587 million completely reversed, with a full-scale short squeeze erupting. Liquidations are concentrated in the 12-hour cycle (accounting for 61%), with the total 24-hour volume being 1.64 times that of the 12-hour period, and the long-short battle continues to intensify in the following 12 hours.
In short: $ZEC 24-hour directional reversal sharply, short positions liquidated $2.587 million, accounting for 68.4% of the total. The short squeeze erupted fully in the latter half, with the bulls winning decisively.
🔥 Market Barometer | July 27
Today's three hot topics point to the same theme: AI narratives have entered the "validation season"—from the valuation frenzy of domestic storage, to the Federal Reserve's interest rate decisions, and then to the financial reports of tech giants.
📈 Changxin Technology goes public: a "domestic substitution" celebration with a market value of 3.66 trillion yuan
On July 27, domestic DRAM leader Changxin Technology officially listed on the STAR Market, opening with a surge of 471.59% and a market value surpassing 3.66 trillion yuan, surpassing Industrial and Commercial Bank of China to become the top A-share market capitalizer. In the first half of the year, it is expected to earn over 50 billion yuan in net profit, with its global market share rising from 3% to 8%. But the controversy is equally huge: technologically, it still lags behind the American and Korean giants by about two or three years. 3.66 trillion yuan in market value—is it the start of a supercycle or the peak? The debate is sharp. After Changxin's listing, Samsung Electronics and SK Hynix each fell about 4% during trading.
🏛️ Federal Reserve interest rate decision: Expectations of rate hikes are undercurrents
The Federal Reserve will hold its policy meeting on July 28-29. Economists unanimously expect to hold steady, but the interest rate futures market is betting on a 36% chance of a rate hike. The divergence stems from oil prices—Brent crude has surpassed $100 per barrel, the US-Iran conflict has pushed up the geopolitical risk premium, and inflationary pressures are resurfacing. Whether Federal Reserve Chair Wash will deliver an "unexpected rate hike" was revealed early Thursday morning.
📊 Microsoft Meta and Amazon Financial Report: AI "Money-Burning" Model Under Test
This week, Microsoft, Meta, and Amazon released their earnings reports together, all with a consistent central question: can massive AI capital expenditures be converted into real income? Google and Tesla had previously sounded the alarm with the first-ever negative cash flow — AI is burning faster than expected. Whether Microsoft Azure's growth rate can stay above 40%, whether AI erodes advertising profits after Meta's capital expenditure guidance is raised to $125-145 billion, and whether Amazon AWS's growth rate can break 30% will determine whether the "AI narrative" can continue to support tech stock valuations.
💎 Summary
Changxin Technology's market value of 3.66 trillion yuan is an extreme pricing of "domestic substitution + AI demand"; The Fed's interest rate decisions are a tense game over whether inflation will return; The financial reports of tech giants are the ultimate test of whether AI burning cash can make money. AI narratives are moving from "storytelling" to "handing over answers." #长鑫科技上市, global storage competition adds new variables
#美联储周四凌晨公布利率决议
#财报观察员: Can Microsoft, Meta, and Amazon stabilize the AI narrative?