pullback

Liquid Capital founder Jack Yi stated on the X platform: "As expected, there has been a slight pullback. If it continues to pull back to around $75,500, it will be a great new opportunity, and I remain optimistic about the rise after the slight pullback. Investing and trading are the hardest things. I entered the mining circle in 2015 at a low BTC price and later successfully invested in Quantum and others, catching the crazy bull market of 2017. This was entirely a matter of luck, but at the time, I thought it was skill, as I had previously achieved some success in entrepreneurship and investment in classical industries.Later, I crazily invested in hundreds of projects, most of which failed and a few succeeded. As investment opportunities decreased, I began to work hard on learning trading, which requires even more respect. I succeeded in trading nine times in a row, but the tenth failure brings me back to square one."

Liquid Capital founder Yi Lihua stated that Bitcoin has not yet broken through the resistance level around $81,000 and is expected to experience a slight pullback in the next few days, followed by a continued rise and a breakthrough in that area. The next resistance level to watch is around $86,000.He plans to close long positions when Bitcoin rises to around $86,000, as that position may face a significant pullback. However, he still believes that the bull market trend has arrived; even if the price enters a resistance area and appears bearish in the short term, he will only choose to close long positions and will not establish short positions.

According to Forbes, Bitcoin recently rose from $62,900 to $79,500, with a 26% increase within 5 days, following the liquidation of over $3.1 billion in short positions. Trader MARMOT stated that this round of increase is not entirely driven by natural demand but is a typical short squeeze situation. He pointed out that approximately $3.1 billion in short positions were liquidated in the past few days, marking one of the largest liquidation events he has witnessed. At the same time, as Bitcoin rapidly rises, retail investors are chasing the price, leading to a noticeable FOMO sentiment in the market.Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated that his previous prediction of Bitcoin reaching $100,000 by the end of the year may be underestimated. He believes Bitcoin could retest its historical high of $126,000 and expects the market recovery to accelerate further after October 6.Meanwhile, some market participants believe that the current upward trend carries short-term overheating risks. Trader David Goldstein mentioned that Bitcoin's rise from $64,000 to nearly $80,000 is mainly driven by signals from the U.S. Treasury regarding bond repurchases and a short squeeze of unprecedented scale. He considers $80,000 to be the first significant resistance level, and this round of increase may peak in the $85,000 to $90,000 range, followed by a correction or fluctuations around $70,000 to $75,000.Forecasting platform data shows that market expectations for Bitcoin's future price are heating up. Meanwhile, inflows into U.S. spot Bitcoin ETFs have rebounded, with a cumulative inflow of $1.62 billion over four trading days as of August 21, reversing the previous week's trend of net outflows.However, several traders remind investors to avoid chasing prices due to rapid increases. Crypto Kit noted that just a week ago, the market was waiting for buying opportunities at $45,000 to $50,000, but now that Bitcoin has risen to $77,000, investors suddenly accept the current price, indicating a clear increase in market FOMO sentiment.

"Whale" Sets 10 Major GoalsJason Leo posted a review of recent trading experiences this morning, stating that he is rethinking discipline and risk control in trading.Jason mentioned that during the last cycle, he achieved a profit of about 100 million dollars, but due to a long-term adherence to trend judgment, he failed to stop losses in time after the market reversed, resulting in a significant profit drawdown. This experience led him to summarize two core principles: "discipline" and "risk." He stated that at the beginning of this market cycle, he maintained a trend trading mindset, believing that the target price of Bitcoin would reach 74,000 dollars and that the fluctuations during this period were just part of the upward process. However, as the price gradually approached the target, the risk awareness from past losses began to affect his judgment, leading him to choose to exit early.Jason stated that although Bitcoin eventually reached 74,000 dollars, he was unable to hold on. He believes that the mistake in the last cycle was overconfidence in the trend, while this cycle was marked by the fear of repeating past mistakes, causing him to abandon the trend too early. He concluded that the biggest challenge in trading is not to conquer the market, but to break free from the inherent perceptions formed by past experiences. "If experience cannot change with the environment, it is essentially prejudice; if discipline loses judgment, it is essentially mechanical."

Citi stated that it remains optimistic about the stock market performance and advises investors to consider increasing equity asset allocation if the market experiences a pullback before the U.S. midterm elections. It currently maintains an "overweight" view on U.S. stocks, believing that corporate earnings expectations are improving and the market liquidity environment is becoming more accommodative. Despite recent concerns related to artificial intelligence, there are no significant risk signals in the overall market.Citi continues to be optimistic about the U.S. stock market and believes that sector rotation may limit the market's downside potential. Historical data shows that the market often experiences a strong year-end performance following a weak phase before the U.S. midterm elections, suggesting that there may be opportunities to buy on dips currently.

According to Binance spot market data, there has been significant volatility in the market. DIA has increased by 11.9% in 24 hours and is in a rebound state after hitting a low.At the same time, ALICE, BEL, SFP, MOVR, HFT, PORTAL, and WAL have all shown a "high-to-low" state, with declines of 5.83%, 5.04%, 8.34%, 12.7%, 18.47%, 9.68%, and 20.94%, respectively.In addition, VIC and HOLO have also shown a rebound state after hitting a low, with increases of 9.9% and 6.01%, respectively.

According to Binance spot data, the market has seen several tokens experiencing a rise and fall. DODO has dropped 7.13% in the last 24 hours, MOVR has decreased by 8.24%, PROM has fallen by 8.09%, and EDEN has declined by 9.76%.In addition, EUL has reached a new low today, with a drop of 6.87%. MTL and KAIA have both hit new lows for the week, with declines of 7.73% and 5.17%, respectively. LA has also reached a new low today, with a decrease of 6.66%.EDEN has slightly increased by 3.13% within 5 minutes, while TUT has slightly decreased by 3.06%.

Garrett Jin released this week's market report, characterizing the rebound in the South Korean market as a wide-ranging fluctuation rather than a new trend. SK Hynix rebounded continuously after retesting the 1.42 million won area, closing up 5.9% at 1,593,000 won. The KOSPI has risen 20% from the July low, entering a technical bull market, but foreign capital has not shifted to long-term holdings, and the drag from leveraged ETFs remains. Garrett Jin set the first profit-taking level at $1,150 (approximately 1.63 million won), with the next target at $1,300 (1.85 million won).Garrett Jin also noted that gold recorded its strongest weekly gain since January this week at +7.8%, priced at $4,388. The driving factors were a decrease of 23,000 in July non-farm payrolls and a moderate CPI that dampened September rate hike expectations. However, it is currently overbought in the short term, and a pullback could present an opportunity for incremental accumulation. Bitcoin has shown no response to the same macro-positive factors, remaining trapped between the support at $62,500 and resistance at $65,000-$70,000, with the bottom structure since $57,700 gradually being built. Garrett Jin will wait for the next buying opportunity after a pullback.Regarding SpaceX, Garrett Jin believes the recent performance is a classic case of "bad news fully priced in + short squeeze," with the unlocking itself becoming a washout rather than the starting point of a decline. However, the unlocking window has not yet ended, with an additional 319 million shares to be unlocked, approximately 700 million shares each in September and October. The current range up to $160 is a profit-taking zone rather than a high-entry zone.

According to Binance spot market data, the market has experienced significant fluctuations. BICO has risen by 12.65% in the last 24 hours and is showing signs of a rebound after hitting a low.At the same time, BIO, MMT, ESP, ROBO, and SNXXB have all shown a "high and then low" trend, with 24-hour declines of 5.15%, 7.75%, 14.15%, 20.07%, and 5.88%, respectively. In addition, GLWB, AXTIB, and IRENB have reached new lows today, with declines of 6.42%, 21.12%, and 8.36%, respectively.

The South Korean semiconductor sector experienced fluctuations during the trading session, with SK Hynix and Samsung Electronics' stock prices slightly retreating, but the related contract market remained active. According to Gate market data, SK Hynix (000660) reported $1002.56 during the session, down 0.21%; Samsung Electronics (005930) reported $162.15 during the session, down 0.64%. According to CoinGlass data, the SKHYNIX contract open interest reached $693 million, of which the SKHYNIX contract open interest on the Gate platform reached $131 million, ranking second in the entire network; the SAMSUNG contract open interest reached $45.2207 million, of which the SAMSUNG contract open interest on the Gate platform reached $6.19 million, also ranking second in the entire network.

According to Binance spot data, the market has experienced significant fluctuations. BICO has risen by 39% in 24 hours and has reached a bottom-rebound state.At the same time, PYR has fallen by 16.48% in 24 hours, showing a "high pullback" state. Other tokens such as AVA, PIVX, VANRY, XAI, ACX, and COOKIE have also shown a "high pullback" state, with declines ranging from 6.25% to 16.75%.In addition, CTSI and HEI have increased by 7.92% and 11.14%, respectively, both reaching a bottom-rebound state.

Bitcoin's recent volatility has nearly disappeared, but market risks have not been alleviated. Data shows that there has been no outflow of funds from the spot Bitcoin ETF, with a cumulative net inflow of approximately $754 million. However, the price of Bitcoin remains around $64,700, while the options market is focused on downside protection near $62,000 and $63,000.Market signals are showing divergence: on one hand, demand for spot ETFs is rebounding; on the other hand, derivatives traders are positioning themselves for a potential pullback, especially on the eve of the release of the latest U.S. employment data. However, from the overall position structure, the market still leans bullish. Bitcoin call options account for about 60.7% of total open contracts, indicating that investors' long-term expectations remain positive, although recent trading has been more concentrated on short-term risk hedging. Meanwhile, the cost of volatility protection is at a low level. The DVOL index from Deribit, which reflects the expected volatility of Bitcoin over the next 30 days, is currently around 35, a significant drop from the high of 90 earlier this year, indicating that the market believes the likelihood of significant volatility in the short term is limited.However, U.S. macro data could disrupt this balance. The market expects that non-farm payrolls in the U.S. will increase by about 97,500 in July, up from 57,000 in June, with the unemployment rate expected to remain at 4.2%. If the employment data is stronger than expected, it could push U.S. Treasury yields higher and strengthen expectations for Federal Reserve interest rate hikes; if the data is weak, it could lower yields but also exacerbate concerns about slowing economic growth. Currently, the Bitcoin market shows a pattern of "ETF funds supporting spot, options market guarding against declines," and potential risks in a low-volatility environment still need to be monitored. In a market with low participation and insufficient liquidity, even small changes in supply or demand could lead to significant price fluctuations.

According to Binance spot data, the market has experienced significant fluctuations. PUMP has risen by 25.96% in the last 24 hours, reaching a new high for the week.At the same time, both LAZIO and HOME have shown a "high and then low" state, with declines of 9.45% and 18.72% in the last 24 hours, respectively. TST and WAXP have hit new lows for today, with declines of 10.31% and 8.88%.In addition, SPCXB has reached the highest price of the day, with an increase of 9.79%. INTCB, QCOMB, and INTWB have also reached the highest price of the day, with increases of 11.5%, 7.77%, and 23.31%, respectively.

Bank of America (BofA) reiterated its "Buy" rating on Micron, with a target price of $1550, stating that the recent sell-off is an "enhanced buying opportunity." The bank expects memory prices to normalize starting in 2027-2028, but the fundamentals remain strong.Bank of America predicts Micron's earnings per share for fiscal year 2028 to be around $150, and in a pessimistic scenario, about $100, still well above the previous cycle peak of around $12.

CoinGlass's latest data shows that BTC is currently priced at $63,129.2, with a 24-hour decline of 0.43%. The total spot trading volume across the network is approximately $1.838 billion. Among them, Gate's BTC spot trading volume is about $212 million, ranking third in the network.As for ETH, it is currently priced at $1,863.23, with a 24-hour decline of 0.66%. The total spot trading volume across the network is approximately $763 million. Among them, Gate's ETH spot trading volume is about $105 million, also ranking third in the network. Meanwhile, the total contract trading volume for ETH across the network is approximately $24.138 billion, with Gate's ETH contract trading volume at about $2.228 billion, similarly ranking third in the network.From the latest trading distribution, the price adjustments for BTC and ETH within the day are relatively limited, and the trading heat of mainstream assets remains concentrated on leading platforms. Gate ranks in the top three for BTC spot, ETH spot, and ETH contract in three core trading indicators, indicating that its liquidity and trading activity in mainstream cryptocurrency trading remain at a high level.

The South Korean stock market fell sharply on Monday, with major chip stocks experiencing profit-taking after last Friday's record surge, while investors also reduced leveraged trading. Analysts indicated that this round of adjustment was mainly due to profit-taking after the previous surge and the exit of leveraged funds. In addition, the strengthening of the Korean won and news related to advancements in AI and semiconductor technology in China also increased market pressure.Data shows that last Friday, the South Korean stock market recorded its largest single-day gain, with the KOSPI rising by 18%, and the large foreign purchases were believed to be related to short covering. However, in early trading on Monday, global investors shifted to selling, with foreign investors selling more than 1 trillion won (approximately 698 million USD) in the South Korean stock market.

Dongfang Harbor Chairman Dan Bin expressed his views this morning, stating that in July, the chip sector experienced a sharp decline and massive leveraged liquidations, but in the grand AI cycle, such a level of correction is both a necessary path and a sign of market health.The market has yet to fully understand the infinite demand potential of AI as an "intelligent" product. Concerns about capital expenditures from giants have echoed the early story of Amazon AWS, but the opportunities in AI are far greater. Funds are flowing back from low-quality tech stocks to high-quality targets, confirming the judgment of a "return of the king" by the end of 2026. Storage chips still face cyclical risks and high volatility, so it is advisable to wait for technical repairs, with a more optimistic view on fundamentally solid companies like Nvidia, Broadcom, and TSMC, as funds will flow more towards quality application layers.On the other hand, the business of hyperscale cloud providers is accelerating growth, with a large backlog of orders and an increasing growth rate, indicating that the previous punishment of capital expenditures was a misjudgment, and these investments will translate into certain future revenues. Looking ahead to August, the Nasdaq's rebound is expected to continue until Nvidia's earnings report, and the tech sector's rolling adjustment is nearing its end, with funds accelerating back into high-quality tech stocks.In terms of specific sector operations, it is currently not advisable to blindly chase high prices in the chip and storage (memory) sectors. However, investors can adopt a short-term band trading strategy of buying on dips until the storage sector completely emerges from its bottoming pattern on a technical level.

According to Jinshi reports, CICC Research pointed out that since mid to late June, the global AI chain has shown a significant correction, especially in the South Korean market, which has performed the most dramatically, mainly due to the effects of high leverage, high congestion, and macro factors. Concerns about the AI bubble have intensified, similar to the situation before the burst of the tech stock bubble in 2000.CICC believes that market stabilization and a new round of increases depend on the digestion of high congestion and high leverage, the alleviation of expectations for Federal Reserve interest rate hikes, as well as new catalysts from earnings reports and the industry.

According to Binance spot market data, there is a divergence between bulls and bears in the market. RIF has increased by 9.47% in the last 24 hours and is in a state of rebound after hitting a low.At the same time, CHR, CVC, GTC, ICX, SUPER, FIDA, VIC, DYM, and CGPT are all in a "high and then low" state, with 24-hour declines of 5.69%, 5.31%, 9.85%, 5.31%, 5.15%, 5.78%, 5.47%, 6.67%, and 6.55%, respectively.