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On-chain analyst Murphy stated that currently, all chips bought in BTC in 2025 are basically in a state of loss. Therefore, apart from wallet migrations, the reduction in the scale of 2025 chips likely means that holders are cutting losses and selling. Data shows that as of now, approximately 4.77 million BTC chips bought in 2025 remain, a decrease of 41.5% from the peak in December last year.From the downward trend, this group has experienced two phases: a rapid decrease in chips before February this year, and a significant slowdown in the rate of decline after February, although it still maintains a certain slope. Murphy believes that the 2025 chips may be the largest potential supply side in the current market scale. In contrast, the BTC chips formed in 2024, 2023, and 2022 have basically completed the release of high-level locked positions due to still having unrealized gains, and the slope of the curve is gradually flattening, indicating that the selling pressure from long-term holders is weakening.Historical data shows that during the bottom phases of the past two bear markets, high-level chips have shown a significant decline: at the bottom of the bear market in 2022, the chips bought at high levels in 2021 decreased by about 51%; at the bottom of the bear market in 2018, the chips bought at high levels in 2017 decreased by about 62%. If we refer to historical cycles, Murphy believes that in this bear market bottom phase, the reduction of high-level chips in 2025 may be in the range of 50%-60%, and the current decline of 41.5% indicates that there is still some room for release. However, this judgment has not yet considered the BTC bought by institutional investors such as spot ETFs and MicroStrategy, as this portion of chips is mostly in a long-term locked state, which may reduce the actual market supply pressure.

According to monitoring by Lookonchain, Changxin Storage has now entered its 5th trading day, with the price rising above 8 dollars, currently favoring the bulls in the long-short battle.A certain whale has shorted 2.9 million Changxin Storage shares, worth 23.54 million dollars, currently facing a loss of 4.67 million dollars and has paid 1.42 million dollars in funding fees; another whale has gone long on 1.63 million Changxin Storage shares, worth 13.27 million dollars, currently making a profit of 2.46 million dollars and has received 823,000 dollars in funding fees.

"BTC OG insider whale" agent Garrett Jin questioned the bullish stance on Green Harmonics publicly expressed by the so-called "new stock god" Serenity today, and questioned the true motives behind their public bullish calls. He stated that releasing bullish signals to the market only after the relevant assets have experienced significant increases could put followers in a position of entering at high levels and facing the risk of subsequent pullbacks.Today's report indicated that, influenced by the calls from "new stock god" Serenity, Green Harmonics surged 20%, triggering a trading halt.

On-chain analyst Murphy stated that the average cost of all loss-making Bitcoin chips has currently fallen below $100,000, now at only $93,600. This means that under the current chip structure, BTC will reach the market average breakeven point when it rises back to $93,000. During the two rapid declines at the end of last year and the beginning of this year, a large number of high-position trapped chips chose to cut losses and exit, lowering the average cost of overall floating loss chips.It is also observed that the average cost of loss-making chips has a deviation coefficient of 1.4 compared to the current 30-day average price of BTC, while in the past three bear market bottoms, the deviation coefficient has exceeded 2 at least. When the average deviation coefficient is greater than or equal to 2, it indicates that the market has entered an absolute bottom range, at which point the price of BTC is less than 50% of the average cost of loss-making chips. To meet this condition, the lowest point of BTC in this round would need to drop to $46,800, but historical patterns may not always hold true. This bear market may be less painful than any previous bear market. According to PolyBeats monitoring, in the market related to whether Bitcoin will reach $60,000 or $80,000 first on Polymarket, the probability of reaching $60,000 first is 68%, while the probability of reaching $80,000 first is 32%.

According to Jinshi reports, Federal Reserve's Williams stated that uncertainty and two-way risks have increased, and monetary policy is "in a favorable position" to manage these risks.

According to market news, trader 0xa43d opened a long position at the peak price of Ethereum and lost 3.24 million dollars within just 14 hours. After the price of ETH dropped, the trader partially closed the position, realizing a loss of 5.835 million dollars, but still holds a long position of 11,793 ETH (worth about 37.6 million dollars), with an unrealized loss of 2.66 million dollars.

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell stated that the policy stance remains moderately tight, with good conditions to respond to potential developments.

ChainCatcher news, according to crypto analyst Ai Yi @ai_9684's monitoring, the address starting with 0xE58 purchased 1,337 ETH at an average price of $4,141 between October 2021 and February 2022, with a maximum drawdown of up to 74.4% during that period, only breaking even last month. The address deposited 1,427 ETH to Binance 4 hours ago, worth approximately $6.44 million, and if sold, it will realize a profit of about $501,000.

ChainCatcher news, although macroeconomic factors such as China's economic stimulus policies and the potential interest rate cut by the Federal Reserve in September have released positive signals, the altcoin season has not yet arrived. Deribit's Chief Business Officer Jean-David Péquignot stated that loose central bank policies could indeed increase market liquidity and drive speculative funds into risk assets.However, the market currently still lacks sufficient trading volume and broad growth momentum. The recent price increase of Ethereum compared to Bitcoin is seen as a potential signal of market change, but it is not enough to trigger a full-blown altcoin season. Additionally, according to the CoinMarketCap Altcoin Season Index, the current reading is 44, well below the critical level of 75. Bitcoin's market dominance remains at 58%, continuing to hold a central position in the cryptocurrency market.

ChainCatcher news, according to monitoring by ai_9684xtpa, a giant whale that shorted 5,000 ETH at the low on March 12 has liquidated their position 4 hours ago, incurring a loss of $489,000.When ETH dropped to $1,917, they collateralized USDT on Aave and borrowed 5,000 to short sell. Subsequently, ETH continued to fluctuate and rose by 5%. Finally, 4 hours ago, when the market rebounded, they chose to cut losses, buying back all ETH at $2,015 and repaying the loan.

ChainCatcher news reports that on social media, on-chain data analyst Murphy published statistics stating that the cost basis for ETH accumulated from January to February 2025 is roughly between $3,200 and $3,500. A cluster of addresses has been intensively accumulating at $3,475, totaling 1.66 million ETH. This group did not sell during the drop of ETH to $1,900 and instead added to their positions, currently holding 1.94 million ETH with a reduced cost basis of $3,150.Additionally, the cost basis for the chips accumulated in mid-February 2025 is approximately between $2,600 and $2,800. This group started to cut losses as the ETH price fell below $2,300, and currently, only the chips at $2,800 and $2,630 remain unchanged, holding 1 million and 850,000 ETH respectively.As the price of the coin continues to decline, new demand for ETH has gradually weakened, especially after the price fell below $2,000, where data shows there is almost no new purchasing power.Murphy explains that the high-position trapped chips, after a series of self-rescue replenishments, now seem to have exhausted their purchasing power; the current price of $1,850 is the cost price for large holders who accumulated two years ago. When the price drops to this level, they start to replenish (buying back parts sold at high positions to average down costs), thus forming a support effect. If this price level cannot provide support, the decline may reach $1,600 and $1,250, which are the "remaining support levels from three years ago's accumulation."From the overall behavior of current investors, the most important factor is still the reconstruction of consensus on ETH's value. If an effective consensus cannot be formed, the currently trapped chips at high positions of $2,630 (850,000), $2,800 (1 million), and $3,150 (1.945 million) will all become significant obstacles on the path to recovery.

ChainCatcher message, according to on-chain data analyst @ai_9684xtpa's monitoring, a whale address starting with 0x1dF has sold 5,178 wstETH and stETH in the past 4 hours to avoid liquidation, worth 12.84 million dollars, with an average selling price of 2,481 dollars.Currently, the address still holds 24,651 stETH as collateral, has borrowed 30.91 million USDT, and has a health factor of 1.44. Liquidation will be triggered when ETH drops to 1,823 dollars.

ChainCatcher news, according to the official announcement, Binance has added USDC cross-margin and isolated-margin trading pairs.Cross-margin: FET/USDC, FLOKI/USDC, NOT/USDC, ZRO/USDCIsolated-margin: FET/USDC, FLOKI/USDC, NOT/USDC, ZRO/USDC

Chain Catcher news, Meta expands the scope of digital collectibles, announcing that starting today, every user on its U.S. Facebook and Instagram can connect their wallets and share digital collectibles. This includes users being able to cross-post their held digital collectibles on Facebook and Instagram. Additionally, users in 100 countries/regions where digital collectibles are offered on Instagram can now use this feature.It is reported that Instagram began testing NFT features in May, and Facebook rolled out NFT features to some U.S. creators in July. (Source link)