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According to BusinessInsider, billionaire investor and hedge fund founder of Third Point, Dan Loeb, stated in a podcast that current market concerns about the "bubble theory" of artificial intelligence (AI) are greatly exaggerated, and the development stage of the AI industry is completely different from that of the internet bubble period.Loeb pointed out that technology giants, including Alphabet, Microsoft, Amazon, and Meta, have collectively exceeded $700 billion in capital expenditures this year, which may reach $1 trillion next year, with the vast majority allocated for AI infrastructure development. He stated that to believe these capital expenditures will not yield returns is equivalent to thinking that companies are "burning money for no reason," but currently, these companies have strong profitability and ample cash flow, allowing them to support investments with their own balance sheets.Loeb emphasized that this is different from the situation during the internet bubble when "valuations detached from fundamentals," and does not constitute a traditional valuation bubble. He also mentioned that AI companies like Anthropic are experiencing rapid revenue growth and accelerated product applications, indicating that the industry is still in the early stages of expansion.Reports indicate that Anthropic's latest financing valuation is nearing $965 billion, with annualized revenue jumping from $14 billion to $47 billion, further strengthening market confidence in the commercialization potential of AI.However, there are still some investors in the market, including Michael Burry, who express concerns about the overheated valuations of AI, believing that massive investments may struggle to yield corresponding returns. Loeb, on the other hand, stated, "We haven't even scratched the surface of AI development," and believes that we are still in the early stages of long-term growth.

According to The Block, the stock prices of Bitcoin mining companies transforming into AI and hyperscale computing continue to rise. IREN rose over 13% on Wednesday, nearing an all-time high, after announcing a $3 billion convertible bond financing, collaborating with NVIDIA to build a 5 GW AI data center, and acquiring Mirantis for $625 million. On Tuesday, it also reached a $1.6 billion agreement with Dell to supply the Blackwell AI system.Cipher and Hut 8 both reached all-time highs, with Cipher rising about 9.5% to $25 and Hut 8 rising nearly 5% to $118, with HUT increasing nearly 600% over the past year. TeraWulf rose over 6% on Wednesday, with a year-over-year increase of about 800%, and its HPC business's quarterly revenue exceeded that of its Bitcoin mining business for the first time. Riot rose 3.3% to $27 on Wednesday, with first-quarter data center revenue of $33 million, primarily from its collaboration with AMD. This year, it has sold part of its Bitcoin holdings to finance AI construction and still holds nearly $1.2 billion in Bitcoin.

According to CoinDesk, renowned investor Kevin O'Leary stated at the Consensus conference that before the U.S. Congress passes a clear regulatory framework for digital assets, the tokenization craze on Wall Street is essentially just hype, and Bitcoin and tokenized assets remain too risky for large institutional investors to invest in. He pointed out that once the U.S. establishes a formal legal framework, everything will change.Using stablecoins as an example, O'Leary mentioned that after the passage of the GENIUS Act, stablecoins would be "almost immediately" adopted, reducing cross-border payment times from three days to a few minutes, significantly lowering costs while ensuring compliance and transparency. O'Leary believes that institutional investors' focus is highly concentrated on Bitcoin and Ethereum, with 97% of the market's value coming from these two assets, and many small-cap tokens have been "eliminated."He stated that the real long-term value lies in blockchain infrastructure, enterprise-level applications, and the energy and data centers that support digital assets. He claimed that electricity is more valuable than Bitcoin, and the biggest opportunity is to find the blockchain platform standards that large enterprises will adopt for applications such as logistics, contract management, or inventory systems.

According to Bloomberg, hedge funds that once fueled the U.S. Bitcoin exchange-traded fund (ETF) craze are rapidly withdrawing.Data compiled by CF Benchmarks, a wholly-owned subsidiary of the crypto trading platform Kraken, shows that the total allocation of Bitcoin ETFs held by the largest hedge funds has decreased by 28%. Gabe Selby, head of research at CF Benchmarks, wrote in a research report on February 19: "The dominant theme over the past two quarters has been hedge funds' de-risking operations. The spike and subsequent drop in October seem to have triggered systematic reductions." Brevan Howard significantly adjusted its position in BlackRock's iShares Bitcoin Trust, becoming the largest seller of this spot ETF in the fourth quarter. Its holdings decreased by about 86% to 5.5 million shares, reducing the value of its spot position from approximately $2.4 billion to $275 million. Bitcoin prices have fallen alongside macro risks, and at certain stages, the declines were even greater, undermining the logic previously presented to institutional investors—that Bitcoin could hedge against inflation, currency devaluation, or stock market pressures.

According to 4E observations, on-chain analyst James Check's latest data shows that approximately 4.64 million bitcoins (worth over $50 billion) have been transferred from dormant wallets this year, setting a historical high. This wave of "sleeping whales" awakening is considered an important driver of the recent BTC consolidation, as the active selling pressure from long-term holders has weakened upward momentum. Analysts point out that although the funding situation remains robust, market confidence is becoming cautious in the short term, with a slight increase in exchange inflows, indicating that investors are adjusting their position structures.On the other hand, this week several major tokens are experiencing significant unlocks. According to Tokenomist data, projects such as APT, LINEA, AVAX, CONX, and ARB have collectively unlocked over $200 million worth of tokens. Among them, LINEA's single unlock accounts for over 16% of its circulating supply, becoming the focus of attention this round. Institutions generally believe that the supply pressure this week may exacerbate the volatility of some tokens in the short term, especially for projects with lower liquidity in the secondary market.Meanwhile, Digital Asset Treasury (DAT) companies are rapidly emerging as a new capital force. Since 2020, the number of DAT companies has increased from 4 to 142, with 76 added just this year, accumulating a total investment of $42.7 billion in crypto assets. Among them, Strategy remains the largest holder, accounting for about 50%. However, DAT company stocks have generally seen significant surges at the beginning of their listings (BitMine once skyrocketed over 3000%) followed by noticeable corrections, indicating that market sentiment is still primarily driven by short-term speculation.4E Commentary: The "awakening wave" of Bitcoin reflects the asset restructuring and confidence reassessment of long-term holders; meanwhile, the unlocking cycle and new capital forces will jointly shape the liquidity landscape and risk appetite in the next phase.

ChainCatcher news, Ledn co-founder and CEO Adam Reeds believes that recent market dynamics indicate that digital asset treasury companies eager to hoard coins are facing a turning point.Adam Reeds stated that Bitcoin treasury companies were once a revolutionary innovation in the industry, but the ability to achieve threefold returns may be fading. Over the past five years, MicroStrategy has increased by 24 times, while Bitcoin has increased by 10 times, making such excess returns difficult to replicate.Adam Reeds believes that signs of a cooling trend have persisted for a week, indicating that the crypto treasury craze, primarily modeled after Strategy, is waning. The total market capitalization of DAT companies has fallen below $150 billion, and the cumulative market capitalization of Bitcoin treasuries has dropped from $165 billion a month ago to $134 billion (despite Bitcoin's relatively stable price). The stock price of Strategy has also fallen from a high of $455 in July to $359 this Friday, and the stock price of the Japanese listed company Metaplanet has seen a monthly decline of over 30%.Adam Reeds pointed out: "What is truly fading is the ability to create unique value propositions. Most DAT company CEOs claim that their sole goal is to increase the per-share cryptocurrency holdings, but it remains unclear whether they have unique management teams and whether they possess excellent capital operation capabilities."

ChainCatcher news, Pump.fun co-founder Alon tweeted that he feels we will soon return to the "trench" craze of pump.fun in Q4 2024, but this time the increase will be even higher.

ChainCatcher news, according to Cryptonews, the software development company Polaris Office has applied for a trademark, joining the stablecoin craze in South Korea. The company is known for its namesake office software suite and has submitted 102 trademark applications to the Korean Intellectual Property Office, covering three main categories: "computer software and programs related to crypto assets," "electronic finance, payment institutions, and crypto asset brokerage services," and "blockchain-based technology services and software development."Polaris has launched a crypto asset called Polaris Share (POLA) and listed it on cryptocurrency trading platforms such as Bithumb. In addition, the Korean financial group BNK has also applied for 25 stablecoin trademarks, including stablecoin trademarks for Busan Bank and Gyeongnam Bank. South Korean President Lee Jae-myung plans to pass a series of stablecoin-related laws within weeks.

ChainCatcher news, according to official news from SunPump, on July 8th at 8 PM, SunPump will collaborate with six core ecosystems: JUST, BitTorrent, APENFT, WinkLink, and Steem to launch the Interstellar Heatwave Eco Month event, promoting explosive growth in the TRON ecosystem through cross-platform collaboration. As an emerging Meme launch platform, SunPump will be a key engine in this wave of heat. This edition of the SunFlash roundtable will focus on the theme "Is the TRON Heatwave Likely to Foster a Meme Supercycle," analyzing the new narrative of on-chain economy and the value of ecological linkage. The event aims to enhance the on-chain activity and value explosion of TRON through diverse ecological resonance.The seminar will be live-streamed via Twitter Space. Users can follow the official accounts @sunpumpmeme and @Agent_SunGenX, retweet the event tweet, and @ three friends to participate in an interactive lottery for a chance to win a reward of 10 USDT.

ChainCatcher news, according to The Block, Bitcoin on-chain transaction activity has fallen to its lowest level in a year and a half, with the 7-day moving average transaction volume dropping to 316,000 last week, currently slightly rebounding to about 350,000, far below the mid-2024 peak of 700,000.The speculative frenzy around Bitcoin-native protocols like Runes and Ordinals has subsided, and traders' interest has shifted to other blockchain ecosystems. Since the beginning of the year, Bitcoin transaction fees have remained below $1.50, indicating minimal competition for block space and a return to traditional transfer purposes. Some users are attempting to initiate transactions with fees below 1 sat/vB, and the mining pool MARA has launched the "Slipstream" channel to handle ultra-low fee transactions, sparking debates among Bitcoin developers about network standards and censorship resistance.