Odaily News Trader Eugene Ng Ah Sio posted on his personal channel, stating: "So far, so good. Buying the dip yesterday was a masterstroke. It bounced back from $60k, feeling bullish about the market outlook."
Odaily News On-chain analyst Yu Jin posted on X, indicating that Yi Lihua's address appears not to be merely deleveraging but rather liquidating positions.
Currently, the relevant address has transferred 630,400 ETH ($1.294 billion) into Binance, leaving only 21,300 ETH ($43.94 million) on-chain. 96% of the ETH has already been transferred to the exchange, a quantity far exceeding what would be needed to sell for deleveraging purposes, so it is highly likely a complete liquidation is underway.
Odaily News According to statistics from Lookonchain, Yi Lihua's leveraged long position on ETH in this round resulted in a total loss of approximately $747 million.
According to data from msx.com, the U.S. stock crypto sector continues to rise, with Strategy up 20.05%, ETHZilla up 6.77%, Circle up 11.49%, Bit Digital up 11.96%, Robinhood up 14.80%, Hut 8 up 13.67%, and Coinbase up 9.64%.
It is reported that msx.com is a decentralized RWA trading platform that has cumulatively listed hundreds of RWA tokens, covering U.S. stocks and ETF token targets such as AAPL, AMZN, GOOGL, META, MSFT, NFLX, and NVDA.
Odaily News Bitwise Chief Investment Officer Matt Hougan pointed out that investors who bought the dip during the 2018 low period achieved returns of approximately 2000%, while those who entered at the 2022 low point saw gains of about 300%. For long-term investors, the company believes the disconnect between current prices and industry progress is a recurrence of these specific cycles. Matt Hougan believes the world is becoming increasingly digitalized and requires non-fiat currencies. He cited the rise of stablecoins, the development of tokenization, and the emergence of prediction markets and "AiFi" as evidence that the ecosystem is maturing. Although current prices do not reflect these advancements, the ongoing integration of Wall Street with blockchain technology suggests that fundamentals will ultimately drive the next rally. Bitwise identified several potential catalysts for recovery, including the possible passage of the CLARITY Act, a shift in market sentiment towards risk appetite, rising expectations for interest rate cuts, and technological breakthroughs at the intersection of AI and crypto. In the absence of sudden positive shocks, Bitwise expects the market to "grind out a bottom." (CoinDesk)
