drops

According to Gate market data, on August 14, the Hang Seng Index continued its sluggish performance from the previous day, closing down 0.93% at 25,160.25 points, while the Hang Seng Tech Index closed down 1.79%.JD's stock price fell 10.08% after earnings, and CK Hutchison closed down 5.12%. The total market turnover reached HKD 135.724 billion.

According to SoSoValue data, the overall cryptocurrency market sector shows a slight upward trend, with Bitcoin (BTC) rising 0.57%, breaking through $65,000; Ethereum (ETH) rising 0.48%, breaking through $1,900. The meme sector performed outstandingly, rising 0.36% in 24 hours, with Tutorial (TUT) rising 52.38%, Pump.fun (PUMP) rising 11.39%, and Pepe (PEPE) and FLOKI rising 2.47% and 2.81%, respectively.In other sectors, the Layer1 sector rose 0.27% in 24 hours, with Solana (SOL) rising 1.44%; the PayFi sector rose 0.25%, with Monero (XMR) rising 3.8%; the CeFi sector rose 0.14%, with Aster (ASTER) rising 1.59%; the Layer2 sector fell 0.23%, with zkSync (ZK) rising 2.41%; the DeFi sector fell 0.91%, with Curve DAO (CRV) rising 6.39%; additionally, the AI sector fell 1.76%, but Worldcoin (WLD) rose 6.61%; the GameFi sector fell 3.97%, with Audiera (BEAT) falling 6.65% and WEMIX falling 3.08%.The cryptocurrency sector indices reflecting historical market trends show that the ssiNFT, ssiMeme, and ssiAI indices rose 2.85%, 0.63%, and 0.6%, respectively.

According to The Nation Online, the Nigerian Tax Authority has released the "Virtual Asset Taxation Guidelines," officially incorporating cryptocurrencies, stablecoins, NFTs, and other blockchain digital assets into the country's tax system. The guidelines were published on July 31 and provide the first detailed framework for taxing the income from assets such as cryptocurrencies, stablecoins, governance tokens, and NFTs.The guidelines stipulate that income generated from the disposal, exchange, or transfer of virtual assets must be taxed according to Nigerian tax law, and income from blockchain activities such as mining, staking, validating, airdrops, and token rewards is also subject to taxation. Virtual assets must be valued at the market price of exchange platforms recognized by the tax authority. Individuals and businesses must maintain complete transaction records, and virtual asset service providers must register for taxation and report large or suspicious transactions. The SEC continues to regulate securities-type virtual assets, while the tax authority is responsible for tax management. The guidelines do not set a separate tax rate for cryptocurrencies but apply existing tax law provisions. The guidelines follow President Bola Tinubu's executive order on establishing a coordinated regulatory framework for virtual assets.

Glassnode data shows that the sentiment in the BTC options market is gradually turning positive. As prices rebound, the BTC implied volatility index DVOL has decreased from 48 to 40, indicating that the panic premium accumulated in June is partially retreating. However, the current volatility is still higher than the May low, suggesting that while market uncertainty has eased, it has not completely dissipated.Meanwhile, the BTC options open interest Put/Call ratio has dropped to about 0.59, reaching a six-month low, indicating that traders are significantly reducing downside hedging and re-establishing bullish exposure. Glassnode believes that this change reflects a constructive improvement in options market sentiment.From the position structure, BTC is currently hovering around $63,000, still below the dense negative gamma range of $68,000 to $70,000. If the price further enters this range, it may trigger stronger pro-cyclical market maker hedging behavior and amplify market volatility.

According to BBX data, last week the completion of the most significant contract for Bitcoin mining company AI transformation was announced, and data on the market performance of crypto-listed companies post-IPO further reveals the industry's valuation dilemma. The core dynamics are as follows:TeraWulf Inc. (NASDAQ: $WULF) disclosed last week through SEC 8-K that the company signed a 20-year AI infrastructure lease with AI leader Anthropic (privately held) ------ the lease subject is TeraWulf's Justified Data campus located in Hawesville, Kentucky, totaling approximately 401 megawatts of IT critical load, expected to generate about $19 billion in contract lease revenue during the initial 20-year lease term (supported by expected investment-grade credit), with the first capacity expected to be delivered in H2 2027, and full capacity of 401MW expected to reach production by early 2028. On the same day, TeraWulf sold its 50.1% stake in the AI data center JV in Abilene, Texas (168MW), with the buyer being a consortium of investors led by Fluidstack, for a total consideration of approximately $530 million (in three phases: $250 million down payment within 14 days, $150 million by the end of 2026, and about $130 million by the end of April 2027), realizing a premium on the original $450 million investment, with the proceeds reinvested into TeraWulf's wholly-owned AI infrastructure projects. CEO Paul Prager: "This milestone collaboration demonstrates our ability to provide large-scale, power-secure infrastructure for top AI clients." $WULF rose over 16% during the day, and after the announcement, several institutions raised their target prices: BofA (Buy, $34), Citi (Buy, $36), Needham (Buy, $33, up from $28), Rosenblatt (Buy, $30), with the average price from Wall Street analysts exceeding $33; the company's stock price has risen over 80% year-to-date, with Benzinga assessing the momentum score at 98.06 (extremely strong).According to INN data from July 8, BitGo Holdings (NYSE: $BTGO) has fallen about 77% since its listing at $22.43 in January 2026, becoming one of the worst performers in this round of crypto IPOs, marking a systemic downturn in the market for crypto asset companies post-IPO; during the same period, Bullish (NYSE: $BLSH) has dropped about 71% from its listing price of $90 in August 2025, eToro Group (NASDAQ: $ETOR) has fallen about 42% from its listing price in May 2025, Figure Technology Solutions (NASDAQ: $FIGR) has decreased about 14%, and only Circle Internet Group (NYSE: $CRCL) has dropped about 6% since its listing in June 2025, showing the smallest decline. The continued weak market performance has substantially frozen the pipeline for subsequent crypto IPOs: Kraken's parent company Payward suspended its listing process this spring, and Grayscale, Consensys, and Ledger have all postponed their IPO plans until market conditions improve.

During the mid-year report in 2026, Xie Jiayin, the head of Bitget Greater China, revealed that in the first half of this year, Bitget distributed over 33 million USD in welfare airdrops to users through Launchpool, PoolX, Candybomb, and SpaceX airdrops.On the product strategy level, Xie Jiayin reiterated the positioning of Bitget UEX and pointed out that cross-asset allocation has become a new trend in the industry, with the proportion of related users rising from less than 1% to over 10%. Currently, Bitget has fully constructed a core product matrix of multiple asset classes, including Crypto, CFD contracts, US stocks (rTOKEN solution, direct connection solution, US stock options, IPO Prime).

Strike, founded by Jack Mallers, has launched a new Bitcoin collateral loan product aimed at avoiding forced liquidation due to a drop in BTC prices. Strike states that as long as borrowers make timely repayments, the collateralized BTC will not be moved or liquidated, regardless of how deep the Bitcoin price falls.Mallers stated on X that this product has no margin call requirements and no price-based liquidation mechanism, allowing users to borrow USD while continuing to hold Bitcoin. He mentioned that volatility is inevitable, but liquidation is not a certainty. Strike indicated that the new loan product eliminates price-triggered actions linked to the loan-to-value (LTV) ratio, so borrowers do not have to worry about automatic liquidation due to a drop in BTC prices. As long as interest and maturity payments remain normal, the collateral will remain unchanged.

Strive CEO Matt Cole stated in an interview that even if Bitcoin drops to 1 cent and stays there for 18 months, Strive can do nothing and it will not be a problem, nor will it need to sell even a single BTC.No price will force Strive to be liquidated.

As of the market close, the official mNAV of Strategy has dropped to 0.99, indicating that the market values the company overall below the market value of its held Bitcoin. Meanwhile, the perpetual preferred stock STRC is trading at a discount of about 25% to its liquidation value of 100 dollars.

The price of Bitcoin has retreated to $62,000, and the second day of chip stock sell-offs is dragging down the crypto market, with over $1.5 billion in leveraged positions being liquidated.

According to HTX market data, SOL has fallen below 65 dollars, currently reported at 64.93 dollars, with a 24-hour increase of 1.2%.

According to on-chain analyst Yu Jin's monitoring, if the ETH price drops another $40 to $1,555, a previous whale using borrowing leverage on Aave may face liquidation risk.

Cardano founder Charles Hoskinson stated that he will "take a break" after warning that the ecosystem will face "a wave of failures." As a result of his remarks, ADA fell below $0.20 for the first time in over five years, with a cumulative decline of nearly 70% over the past year, and further dropped about 10% after the news was announced.Hoskinson's comments come as the Cardano ecosystem faces a series of setbacks. The Cardano data analysis platform TapTools, which has been operating for four years, announced it would cease operations, while the community previously voted against using treasury funds to support ecosystem development, leading to the cancellation of the Cardano 2026 summit originally scheduled to be held in Singapore. Hoskinson stated that he had warned earlier this year that the prolonged sluggish market environment would lead to the collapse of some projects, resulting in "a large number of failures" in the Cardano ecosystem. He also expressed disappointment at the community's lack of willingness to use treasury funds to promote ecosystem development. On the X platform, Hoskinson briefly posted: "I'm taking a break. TTYL."

According to analyst Adler's latest post, the Bitcoin Impulse indicator, which reflects Bitcoin price momentum, has dropped to -59, indicating that market momentum has quickly turned negative; meanwhile, the 30-day Net Taker Volume Position Change indicator, which measures changes in active buying and selling power, has also fallen below the zero axis for the first time in nearly three months, suggesting that the active buying demand that drove the previous upward trend has basically been exhausted.Momentum indicators typically lead changes in capital flow. Currently, both the fast and slow momentum indicators are in deep negative territory, with the fast momentum close to -90 and the slow momentum quickly dropping to -59 after falling below the zero axis at the end of May. On the other hand, although the 30-day active buying demand indicator has just turned negative, it has not yet entered the "bear market zone."Adler believes that the current market is transitioning from a "buyer-dominated" phase to a "seller-dominated" phase, with an overall risk-off state. If active buying demand further declines and enters the bear market zone, while momentum continues to remain negative, it will further confirm the market's bearish trend; conversely, if active buying returns above the zero axis, it may provide an opportunity for market rebound.

The probability on Polymarket that "Anthropic will go public before September 30" has dropped to 30%, a 37% decrease in 24 hours. Additionally, the probability that "Anthropic will go public before December 31" is currently reported at 89%. Anthropic announced that it has privately submitted its IPO application in the U.S., getting ahead of its competitor OpenAI in the listing process.In a statement, Anthropic said that submitting the prospectus "grants us the right to choose to go public after the SEC completes its review," and emphasized that "the proposed initial public offering will depend on market conditions and other factors." According to market news, the earliest possible listing time for Anthropic could be this fall, but it has not disclosed the size and terms of the offering.

According to monitoring by Catcher Predict, in the market prediction event "Bitcoin June 1 Price Prediction" on Polymarket, the "Will Drop Below 70,000" option's probability has experienced significant fluctuations, soaring from 3.9% an hour ago to the current 49.4% (a fluctuation of 45.5%). Please note the impact of related breaking news.

The probability of "Selling Bitcoin before May 31" on Polymarket has dropped to 23%, a 17% decrease in 24 hours. Additionally, the probability of selling before June 30 is 67%, a 6% decrease in 24 hours; the probability of selling before December 31 is 88%, a 3% decrease in 24 hours. Today, Strategy withdrew 411 BTC from Coinbase, which is exactly the same amount that was deposited the previous day, raising suspicions about the rumors of selling coins being lifted.

XRPL developer Wietse Wind has issued a latest security warning to the XRP community, stating that recent scam activities targeting Xaman Wallet users are on the rise. Scammers are currently promoting fake desktop wallet applications and counterfeit airdrop activities to lure users into connecting their wallets or downloading malicious programs, thereby stealing funds. Wietse Wind reminds users not to connect their wallets to suspicious websites and not to download any unofficial applications to avoid asset loss.