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Famous trader Killa posted that Bitcoin's historical bear markets typically complete a 5-wave adjustment and form two significant peaks. The first peak often occurs after the initial major rebound following the top, known as the "complacency peak," where the market generally believes that the bull market has returned. Subsequently, prices usually continue to decline to new lows. He pointed out that similar structures appeared in the cycles of 2014, 2022, and 2026.After the complacency peak is formed, the market typically experiences a "dead cat bounce" and establishes a phase bottom; as market sentiment deteriorates and short positions concentrate, a short squeeze then drives the price rebound, with the final bottom usually forming after the second significant retest.Killa believes that BTC has currently swept through the bottom formed by the "dead cat bounce" and completed a 5-wave adjustment structure similar to previous cycles. From a structural perspective, the adjustment wave has ended, and the bottom may have already formed. However, he remains cautious about the time cycle. Previous bear markets typically lasted about 365 days before forming the final bottom, while this round, if the bottom has already appeared, has only lasted about 260 days, which is about 100 days earlier than the historical cycle. Currently, he maintains a 50-50 judgment, but compared to significantly making new lows, the likelihood of forming higher lows subsequently is greater.

Bubblemaps released statistics showing that among the 164,538 traders of the top 50 meme tokens by market capitalization on Robinhood Chain, 63% are in a loss position, while 37% are in a profit position. Among them, there are a total of 46 traders with profits greater than $1 million, 312 traders with profits greater than $100,000, 2,458 traders with profits greater than $10,000, and 9,774 traders with profits greater than $1,000.In terms of losses, there are a total of 5 traders with losses greater than $10 million, 7 traders with losses greater than $1 million, 86 traders with losses greater than $100,000, 822 traders with losses greater than $10,000, and 6,725 traders with losses greater than $1,000.

Well-known crypto trader Doctor Profit stated that he has closed all cryptocurrency short positions, including a Bitcoin short position established in the $115,000 to $125,000 range, another Bitcoin short position established in the $79,000 to $82,000 range, and over 100 altcoin short positions opened in the past few months, claiming that these positions have all achieved significant profits.He also mentioned that he has re-entered Bitcoin spot at $64,000, marking his first long allocation since September 2025. His plan is to invest 5% of the planned funds daily for spot purchases when Bitcoin is in the $54,000 to $64,000 range, continuing for a maximum of 20 days; if the price approaches $54,000, he will increase the buying intensity. Doctor Profit believes that there is a clear "herd behavior" in the current market: investors who were previously bullish at high levels up to $150,000 are now generally waiting for Bitcoin to drop to $40,000 to $50,000, viewing September or October as the bottom of the four-year cycle. When a large number of investors are waiting for the same price and time point, the market may not operate according to this expectation, which is why he chose to build positions in advance, judging that this round of bottom may appear earlier than the market generally expects.He also listed regulatory clarity, asset tokenization infrastructure, and institutional adoption progress as structural reasons for the shift to buying, and retracted his previous prediction that Bitcoin would drop to $40,000 to $50,000. However, he still retains all short positions in the S&P 500 index, believing that the crypto market has undergone significant repricing, while U.S. stock valuations remain relatively high.

Ostium released an update on the attack incident. Its liquidity provider fund was attacked on July 15, resulting in a loss of 23,752,746 USDC. Preliminary investigations indicate that the attacker compromised the off-chain infrastructure that provides price data to the protocol and submitted disguised illegal price reports, extracting artificially generated profits from the fund by quickly opening and closing multiple large positions.Ostium stated that traders' collateral is stored in independently isolated smart contracts and was not affected by this incident, with all trading positions remaining open. The team paused trading and froze all trading contracts within 60 minutes after the first attack transaction occurred. Currently, Ostium is collaborating with Mandiant, zeroShadow, Collisionless, SEAL 911, and law enforcement agencies, coordinating with trading platforms, bridging contracts, and stablecoin issuers to advance the investigation. The engineering team is focused on repairing and strengthening the relevant infrastructure to support the secure resumption of trading.Ostium indicated that it will notify at least 24 hours in advance before unfreezing the trading contracts. After trading resumes, existing positions will be marked at the price at the time of reopening, unaffected by price fluctuations during the pause. Addressing the affected liquidity providers and securely resuming trading remains the current top priority.

According to monitoring by Lookonchain, a trader who legally withdrew 44.26 trillion BONK from the BONK treasury and valued at 21.2 million USD has sold another 800 billion BONK today, valued at 2.48 million USD. Since the incident on July 6, BONK has dropped 40%. The trader still holds 24 trillion BONK, valued at 6.94 million USD.

Researcher Adam from Greeks.live stated that the trading of large Bitcoin call options has significantly increased, with a total of 25,766 BTC call options traded, with a nominal value of approximately $1.65 billion. Among them, nearly 10,000 sets of the 70,000/72,000 USD call bull spread expiring at the end of this month have been traded, making it the most active contract.Adam noted that with about two weeks left until expiration at the end of this month, the large-scale purchases of out-of-the-money call options that are about 10% higher than the current price reflect the market's optimistic expectations for the market trend in late this month; however, the trading strategy of using the lower-cost bull spread also indicates that the funds are primarily taking a tentative approach rather than making aggressive bets.

According to OnchainLens monitoring, a certain trader, after accumulating a loss of 4.89 million USD, has once again heavily invested in long positions, currently holding 84 BTC long positions worth approximately 5.43 million USD, with a leverage of 40 times.The account also holds long positions in HYPE worth approximately 290,000 USD and long positions in PUMP worth approximately 148,000 USD. In addition, the trader has placed a limit buy order for 6.56 BTC, worth approximately 424,000 USD, with a limit price of 64,600 USD.

According to Hyperliquid News monitoring, the largest Solana 5u8PrRBuWvVLEJrjNRNSinhH3Rsxmtx1hjUynTZP pump position currently stands at a $3.8 million short position.The trader has also placed a sell order of $4.17 million above the current price. This position accounts for 17.36% of the market's open contracts, with an unrealized profit of $45,000.

Bitcoin broke through the resistance level of $64,000 on Tuesday, reaching an intraday high of $65,511, and then reported at $64,858, down 0.18% for the day. The chart shows that the downward trend channel for Bitcoin since it approached the high of $82,000 in May has not completely failed.Technical indicators show that the 50-day moving average of Bitcoin is below the 200-day moving average, forming what traders call a "death cross." The ADX is at 23.4, indicating that the strength of the bearish trend is weakening; the RSI is at 55.7, in a neutral to slightly bullish range. Market prediction platform Myriad traders give a 66.6% probability that Bitcoin will first drop to $55,000; the probability of it rising to $84,000 first is 33.4%. This probability has not changed significantly with recent price fluctuations.

According to Onchain Lens monitoring, a trader continued to establish a long position with full margin after accumulating a profit of $863,200 on Hyperliquid, with a total position size of approximately $13.31 million.This includes 90 bitcoins (approximately $587,000, 40x leverage), 70,000 Solana (approximately $550,000, 20x leverage), and 1,000 ethers (approximately $193,000, 25x leverage).

According to monitoring by Lookonchain, after losing 46.46 million USD from shorting HYPE, Hyperliquid's well-known trader Loracle opened a new position today: going long on SKHX while shorting crude oil.Its profit and loss performance has been like a roller coaster, once reaching a peak profit of 42.87 million USD, then turning into a loss of 17.27 million USD, and currently rising again to an overall profit of 2.06 million USD.

According to Jinshi reports, traders have postponed their bets on a Federal Reserve interest rate hike until October.

According to Lookonchain monitoring, a trader opened a 20x leveraged short position of 30,000 ETH, worth $53.49 million; this trader previously closed 3 long positions in BTC, ETH, and SOL, all of which were profitable, with a total profit of $444,000.Another trader opened a 10x leveraged long position of 30,000 ETH, worth $53.49 million; this trader has closed 8 trades, of which 6 were profitable, with a win rate of 75%, and a total profit of $3.1 million.

According to monitoring by Lookonchain, a certain trader lost 4.4 million dollars on SKHX and, after failing to profit from two long trades, has turned to going long on NVDA. The address opened a 3x leveraged long position, purchasing 96,251 xyz:NVDA (worth approximately 20.22 million dollars).

According to Lookonchain, a trader claimed to have missed ANSEM, CZ, and TCC, but successfully bought CASHCAT. He had sold 20 million CASHCAT early on, only earning $2,803, and later calculated that he missed out on about $3.6 million.He then repurchased 7.7 million CASHCAT and currently still holds 906,000, with a market value of about $162,000. His cumulative profit on this token is approximately $396,000.

According to Jinshi reports, the US stock market rose as investors set aside concerns over the latest US-Iran conflict and rushed to buy technology stocks. Despite the escalating conflict in the Middle East, investors are still focused on the artificial intelligence investment boom.Goldman Sachs' report pointed out that clients have no substantial concerns about the prospects of artificial intelligence trading, and the recent market adjustments are mainly technical in nature. BlackRock economist Helen Zhuviel stated that although technology companies are facing negative free cash flow, the commitment to artificial intelligence investments will continue to support this theme for at least two to three years.

According to monitoring by Lookonchain, a trader spent $838 to buy 15.04 million CASHCAT 20 days ago and has held it until today. After the rise of CASHCAT, he sold 13.5 million CASHCAT for $917,600 and currently still holds 1.5 million CASHCAT, worth $133,700, with a total profit of $1.05 million.

According to Jinshi, the U.S. Commodity Futures Trading Commission (CFTC) stated that traders' overall positioning sentiment towards the dollar has risen to the most optimistic level since 2015.

According to on-chain analyst @ai_9684xtpa, a trader address that switched to shorting 22,000 ETH after four consecutive losses in long positions has cut losses one and a half hours ago, with an average opening price of $1613 and an average exit price of $1772, resulting in a loss of $3.5 million over three days.