sell-off

According to on-chain analyst Ai Yi's monitoring, the Hack VC associated address (0x2a5...590CF) transferred 21.85 million ENA to the Wintermute deposit address through multiple intermediaries 4 hours ago, suspected to be a sell-off, involving an amount of 3 million dollars.ENA has risen 58.09% in the past week, currently priced at 0.1478 dollars.

As the bond sell-off eases, U.S. long-term bond yields have retreated. The 30-year yield fell from 5.284% to 5.19%, while the 10-year yield dropped from 4.706% to 4.62%.The standoff in the Strait of Hormuz continues, with oil prices remaining around $90, intensifying inflation concerns.

According to on-chain analyst Ai Yi's monitoring, the Ondo team associated address has recharged 13.43 million tokens, and in the past 30 days, it has allegedly sold 29.94 million dollars' worth of ONDO.Two multi-signature addresses have recharged tokens worth 4.42 million dollars to Coinbase in the past 10 hours, and the associated address still holds 12.68 million dollars' worth of ONDO on-chain.

Eurozone government bond yields have joined the global fixed income asset sell-off. The yield on Germany's 10-year government bonds rose to 3.2478%, the highest level since May 2011; the yield on France's 10-year government bonds rose to 4.0954%, the highest level since November 2008.The market is concerned that the ongoing war in Iran may lead countries to increase spending, affecting fiscal conditions.

The $57,000 price level for Bitcoin is a key liquidation point for leveraged long positions. If liquidation is triggered, the weak liquidity situation may amplify the sell-off driven by liquidation.Despite the downside risks, Bitcoin's price shows resilience, and the potential head and shoulders bottom pattern keeps the bullish logic intact.

CryptoQuant analyst Axel Adler Jr stated that short-term holders (STH) of Bitcoin are currently at a loss relative to their entry cost, but the realized loss is limited, and there are no signs of large-scale selling or capitulation in the market. The STH MVRV is approximately maintained at 0.94, remaining below the 1.0 parity level for 98 consecutive days, corresponding to over three months of sustained unrealized losses. This group has a realized price of about $67,300, while the spot price is around $63,200, with an average unrealized loss of about 6%. The price still stands above the -1σ support level of $59,300, with a deeper pressure zone at -2σ located at $49,200, showing a controllable pullback rather than structural damage.In terms of behavioral indicators, the STH SOPR (7-day moving average) is running at about 0.996, slightly below 1.0, indicating that this group is on average realizing small losses, but the losses are shallow and close to the breakeven line. The indicator has recently fluctuated narrowly between 0.996 and 1.002, briefly touching 1.0 on August 10 before retreating, with no signs of a deep selling wave. MVRV and SOPR corroborate each other: short-term holders are under pressure and realizing small losses, but this has not evolved into panic selling.Analysis points out that an upward recovery requires SOPR to stabilize above 1.0 and MVRV to rise above 1.0 (with the spot price breaking above the realized price of about $67,300); the downside risk lies in losing the $59,300 -1σ support and extending towards $49,200, while SOPR further weakens. The current structure is still supported, with pressure present but no signs of capitulation selling yet.

According to Onchain Lens monitoring, Jump Crypto deposited 286.83 bitcoins (worth about 18.01 million USD) to Binance two hours ago, likely for selling.This week, Jump Crypto has deposited 1560 bitcoins (worth about 99.2 million USD) to Binance. Its remaining holdings are 1410 bitcoins (worth about 88.58 million USD).

The Kobeissi Letter posted on platform X, stating that institutional investors are selling off U.S. tech stocks. According to Goldman Sachs data, for the week ending August 4, hedge funds, asset management companies, and other institutional investors sold $21.6 billion in Nasdaq futures, setting a record for the highest weekly amount. Short selling dominated, accounting for 72% of total sales. Among them, hedge funds sold $11.9 billion, and asset management companies sold $7.4 billion.The total net position of institutional investors in Nasdaq futures has dropped to negative $5 billion, marking the first negative position since May 2025. In contrast, this figure was as high as $54 billion in October 2025. Institutional investors are taking advantage of the market strength to sell off.

Bitcoin has been fluctuating between $62,000 and $66,000 for several weeks, with ETF inflows offsetting selling by miners and institutions. Wednesday's U.S. CPI data may serve as a catalyst for a breakthrough.

CryptoQuant analyst Axel Adler Jr. posted on the X platform that Bitcoin's current trading price is below the cost basis of short-term holders (STH), which is the average purchase price of Bitcoin held for less than 155 days. As of August 8, 2026, the trading price of Bitcoin is $64,952, while the realized price for short-term holders is $67,523.The spot price is 3.8% lower than this level, with a gap of $2,571, the narrowest since July 21. Over the past 284 days, Bitcoin has closed below the STH realized price for 279 days. This time may not be an exception, as short-term holders will begin to sell to close positions at breakeven.

According to BBX data, yesterday and in recent days, globally listed companies disclosed the latest developments in cryptocurrency assets and debt restructuring, with the core information as follows:Cipher Digital reports losses in the second quarter due to Bitcoin sell-off: Bitcoin mining and digital infrastructure company Cipher Digital (NASDAQ: CIFR) released its financial report for the second quarter of 2026. Its total revenue was $24.84 million (entirely from mining), with a net loss of $267.5 million (mainly impacted by a $150.5 million loss due to changes in the fair value of warrants), and adjusted EBITDA was a loss of $29.99 million. As of June 30, its total cash and restricted cash amounted to approximately $4.56 billion. Notably, the company's Bitcoin holdings have significantly decreased in book value from $125.4 million at the end of 2025 to $37.8 million, with realized Bitcoin sale losses of approximately $23.51 million in the second quarter.PowerCompute restructures debt with Bitcoin collateral to lower interest rates: Bitcoin mining company PowerCompute successfully restructured three debts totaling $18 million using 307 Bitcoins from its reserves as collateral, replacing previous loans from institutions such as Galaxy Digital. The new financing adopts a non-recourse, 30-day revolving structure with an annual interest rate of about 2% (far lower than some old loans at 12%), allowing the company to significantly reduce interest expenses without selling Bitcoin spot.West Main Self Storage slightly increases holdings: Storage company West Main Self Storage disclosed an increase of 0.155 Bitcoins in the secondary market, bringing its total holdings to 16.188 BTC.

Earlier today, the Hong Kong Stock Exchange disclosed that the long position ratio of H&H International Investment, managed by Duan Yongping, in Pop Mart International Group Limited decreased from 7.65% to 5.55% as of July 30, 2026.According to the detailed interpretation of the announcement, this reduction was caused by the exercise of sold call options. Duan Yongping holds the underlying shares of Pop Mart through H&H International Investment while selling call options to earn premiums. After some calls expired and were exercised on July 30, Duan Yongping had to deliver shares at the agreed price, resulting in a decrease in physical holdings, and the disclosed long position ratio fell from 7.65% to 5.55%.This time, Duan Yongping had some calls expire and be exercised, delivering part of the shares at an average settlement price of approximately HKD 162.50, resulting in a net decrease of about 8.9328 million shares in physical holdings. Additionally, the expiration or conversion of other option positions contributed to the overall decline in the disclosed total long position ratio.Duan Yongping is accustomed to using sold options to enhance returns or build positions, and he has previously engaged in similar operations with stocks like Apple. On July 23, Duan Yongping had just responded to investors on Xueqiu, stating, "Pop Mart has just started buying, and it is highly likely that I won't sell within the next 10 years." The decrease in ratio this time is mainly due to passive reduction caused by option settlements, rather than actively selling in the market. The actual decrease in physical holdings is also not as exaggerated as the disclosed ratio suggests, as the disclosed long position ratio also includes the impact of related derivative positions.

DWF Labs co-founder Andrei Grachev published a response to recent market speculation regarding DEXE trading, stating that the relevant transactions can be verified through centralized exchanges. Grachev indicated that the DWF Labs DEXE trading process is as follows: a large purchase of DEXE in 2024, partial selling for profit in 2025, another large purchase of DEXE around October 10, hedging profits in the first half of 2026, and when the funding rate turned negative, being forced to close short positions and increasing cash reserves by selling part of the DEXE spot.Grachev stated that all buying and selling operations were completed through centralized exchanges, where the trading platform holds relevant account information, and criticized some paid KOLs for spreading "misleading information."

According to CoinDesk, Bitfinex analysts released a report stating that derivative traders have largely been washed out during the Bitcoin sell-off at the end of June.Bitcoin fell below $58,000 on July 1, and since then, the average daily liquidation amount has remained well below this year's typical range of $400 million to $500 million, indicating that despite macro shocks, there is little forced selling pressure. The decline in the Bitcoin market is smaller than that of leveraged stock themes because the "fuel" for forced selling has been exhausted.Bitfinex analysts expect that investors will remain defensive ahead of next week's U.S. employment report (the next major macro catalyst after the Federal Reserve meeting).They believe that rather than worrying about a new round of forced liquidations, the more critical question is whether the inflow of spot Bitcoin ETF funds can return once the market has a clearer judgment on the Federal Reserve's path.The analysts wrote, "We believe that positions will remain defensive as long as the risk of Federal Reserve interest rate hikes persists. Whether institutional buyers are active or insensitive to prices is the signal that traders have yet to see."

According to Jinshi reports, Gina Kim, the emerging markets equity portfolio manager at Nordea Asset Management in Singapore, stated that the current sell-off in the South Korean stock market seems to have irrational and panic-driven components, primarily focused on technology stocks related to artificial intelligence.Some of the sell-off behavior can be reasonably explained, such as reducing risk before the summer vacation, margin requirements, and recent news reports regarding the sustainability of capital expenditures in artificial intelligence. Due to single stock limits rather than fundamental reasons, the company has reduced some of its larger technology stock holdings.

Citrini analyst Jukan posted on social media that the news of China's progress in DUV lithography technology is not particularly surprising, as the market had already formed certain expectations. He pointed out that The Information's related report only cited a professor from a transportation university in China speaking at an internal meeting in June and did not disclose more substantial information. Jukan believes that the sell-off reaction seen in semiconductor equipment stocks like ASML is an overreaction to this news.According to previous reports, The Information cited sources saying that a state-owned enterprise supported by Chinese state capital has begun mass production of domestically developed DUV (Deep Ultraviolet) lithography manufacturing equipment, marking a key progress in the localization of China's semiconductor industry.Insiders stated that the enterprise plans to produce about 5 domestically made DUV lithography machines by 2026 and expand to about 20 machines by 2027. Although there is still a gap compared to the 131 immersion DUV lithography systems delivered by Dutch lithography giant ASML last year, the entry of domestic equipment into mass production is seen by the market as an important breakthrough in the localization of China's chip supply chain.

According to SoSoValue data, as of 8 AM Eastern Time on July 27, 2026, the total net sell-off of Bitcoin by global listed companies (excluding mining companies) in the past week was $15.92 million, a decrease of 1,296.99% compared to last week.According to official documents, Strategy did not purchase Bitcoin last week, selling approximately 5.43 million shares of MSTR between July 20 and July 26, resulting in a net gain of $544.5 million, and spent $25 million to repurchase 288,930 shares of STRC preferred stock.The Japanese listed company Metaplanet did not purchase Bitcoin last week.In addition, three other companies bought or sold Bitcoin last week. Aerospace-grade defense battery thermal management and safety solutions provider KULR announced on July 24 that it generated approximately $21.5 million in revenue from July 9, 2026, to July 23, 2026, selling 333 Bitcoins at a price of $64,538, reducing its total holdings to approximately 760 Bitcoins; asset management company Strive announced on July 27 that it spent $5.19 million to purchase 79 Bitcoins at a price of $65,723, bringing its total holdings to approximately 20,000 Bitcoins; Brazilian Bitcoin company OrangeBTC announced on July 27 that it spent $394,500 to purchase 6 Bitcoins at a price of $65,742, increasing its total holdings to 3,918 Bitcoins.Metaplanet subsidiary Bitcoin Japan announced a convertible bond financing agreement with EVO Fund, intending to raise 9.66 billion yen (approximately $59.5 million) to establish a cryptocurrency asset treasury.As of the time of publication, the total amount of Bitcoin held by global listed companies (excluding mining companies) in the statistics is 1,139,480 Bitcoins, a decrease of 0.02% compared to last week, with a current market value of approximately $7.416 billion, accounting for 5.7% of Bitcoin's circulating market value.

Bitcoin rose to nearly $65,000 due to the U.S. inflation data in June being lower than expected, but on-chain data shows that long-term and short-term holders are synchronously selling off.

According to on-chain analysts, the Hyperliquid whale (0x410...75d08), which previously shorted 16 altcoins for a profit of $3.5 million, withdrew 7,863 ETH from Spark one hour ago, and then deposited all of it into Binance, suspected of selling off.A week ago, it also transferred 6,860 ETH to the exchange, approximately $10.8 million.