peak

According to Glassnode data, Bitcoin holders have recently continued to take profits, but the scale is relatively limited, with a net profit of approximately 5.1 billion dollars realized in the past 7 days.This level is closer to the end of 2023 and is significantly lower than during the previous major market peak phase.

White hat actors transferred 40.71 bitcoins related to the Coldcard vulnerability into a single transaction, valued at approximately 3.31 million dollars. This transaction aggregated funds from 11 addresses and included OP_RETURN information pointing to the Crypto Recovery Trust.Alex Thorn, head of Galaxy Research, revealed that a larger aggregation transferred a total of 52.37 bitcoins, involving multiple clusters of attacker addresses, accounting for about 2.8% of the funds involved in the vulnerability. A firmware flaw in Coldcard devices from March 2021 led to insufficient randomness in the mnemonic phrases, with the peak amount of funds involved being approximately 130 million dollars.

According to Bitcoin.com, the developers of Bitcoin BLAKE2b plan to restrict miners from unlocking newly mined tokens, with a waiting period set at 45 days. The relevant changes are scheduled to be implemented at block height 973440.This chain was forked from Bitcoin on August 8. Its native token BTCB2 is also labeled by some trading platforms as Bitcoin BLAKE2b, Bitcoin BIP-110, or XBT.BTCB2 has dropped 84% from its September peak of $1799, with recent trading prices around $270 to $315. Developer Luke Dashjr stated that some BLAKE2b mining pools are "attacking" the network. After the fork, the chain continued to use Bitcoin's difficulty, mining only about 8 blocks in the first 22 days, and then resumed operation by enabling BLAKE2b hashing and adjusting the difficulty.Currently, this chain is not listed on most trading platforms, nor on CoinGecko or CoinMarketCap. The trading platform Neoxa has expressed support for the upcoming soft fork.

Cryptocurrency analyst Darkfost stated that the Bitcoin reserves held by known over-the-counter (OTC) platform addresses have dropped to a historical low, currently around 123,000 BTC, down from nearly 500,000 BTC in September 2021.The continuous decline in OTC reserves may have several reasons, including investors' preference for holding BTC long-term, a more decentralized structure of Bitcoin holdings, and participants like miners no longer primarily selling BTC through OTC channels. Additionally, some holders may prefer to sell directly on the open market. Regardless of the specific reasons, the significant reduction in OTC reserves means that there is increasingly less BTC available for sale outside the open market. If buyer demand shifts more towards purchasing directly from the open market, it may provide support for BTC prices.

DeepSeek supplements the API peak and valley billing rules. During weekends with adjusted work hours and China's statutory holidays, the entire day is charged at off-peak rates. Although September 20 is a workday due to the National Day holiday adjustment, the API still applies the off-peak price.DeepSeek implemented peak and valley pricing starting August 17, with off-peak prices set at half of peak prices. Less than a week later, all Saturdays and Sundays were changed to off-peak prices. This further clarifies the billing criteria for adjusted workdays and statutory holidays.Taking deepseek-flash as an example, for every million tokens of cache misses, the off-peak rate is 1 yuan, and the peak rate is 2 yuan; the output rates are 4 yuan and 8 yuan respectively. Another adjusted workday for the National Day holiday on October 10 is a Saturday, which will also be calculated at the off-peak price.

According to Iranian media Fars News, the Speaker of the Iranian Parliament stated that the Strait of Hormuz will remain closed until the conditions in Tehran are met.

According to on-chain analyst Ai Yi's monitoring, a certain multi-signature address transferred 9.2 million LSK to a certain address, valued at 6.52 million USD; subsequently, 2 million LSK was recharged to GSR's Binance deposit address. A similar operation occurred 9 months ago.LSK surged to 2.37 USD last weekend, an increase of nearly 10 times, and is currently reported at 0.5084 USD, with a market value shrinking by 78.5% from its peak.

According to the latest data from Bitget, the cumulative trading volume of the platform's TradFi contracts has exceeded 530 billion USD, with a single-day trading volume peak reaching 7.39 billion USD. So far, Bitget supports a total of 309 stock perpetual contract underlying assets.

CoinDesk reported that Robinhood Chain's daily revenue dropped 87% from its peak on September 4, to $1.06 million. The decline was not due to a decrease in activity, but rather higher capacity reduced congestion fees.During the same period, DEX trading volume approached $2 billion, and active addresses increased by 16.5%.

According to market information, A-share Yushu Technology fell nearly 3%, with its stock price dropping below 500 yuan per share for the first time, and a total market value of 202.1 billion yuan; on its first day of listing, the stock price reached a peak of 1100 yuan per share, and the market value once soared to 444.9 billion yuan. Currently, it has evaporated over 240 billion yuan compared to its market value peak.

The research institution Sage Road Research released an executive summary of "The AI Trade," stating that since the beginning of this year, the Magnificent Seven has underperformed the Russell 3000 index by about 8 percentage points and the MSCI ACWI by nearly 9 percentage points. In July, the CBOE NDX volatility index relative to the VIX reached its highest point since the internet bubble, and after entering a correction, the Nasdaq index saw a 5% rebound over four days. As of the writing of the report, AI company stock prices have dropped 20% from their 52-week highs in June.Companies are struggling to achieve returns on investment amid soaring AI costs, with Uber, Amazon, Meta, and Walmart implementing restrictions on employee AI usage. Model homogenization limits pricing power, and Chinese open-source models have become a cheap alternative to OpenAI and Anthropic. AI capital expenditures have exceeded expectations, with the consensus for 2026 rising from $527 billion at the end of 2025 to about $800 billion by mid-year. Capital expenditures for hyperscale cloud providers in 2027 are expected to account for 3% of U.S. GDP, more than double the peak of 1.2% during the late 1990s telecom fiber construction. Allianz Research calculates that there is nearly a 46% growth gap between AI investment and sales, worse than the 32% during the 2001 telecom bubble.As of June, hyperscale cloud providers and related entities like Nvidia issued $225 billion in bonds, a year-on-year increase of 973.7%. The off-balance-sheet liabilities of tech giants have increased eightfold over four years to $1.65 trillion.

CryptoQuant analyst Zizcrypto stated that the Stablecoin Supply Ratio Oscillator (SSR Oscillator) 90-day reading quickly rose to the "strong stablecoin buying demand" zone, reaching 3.74 on August 21, close to the peak of about 4 expected in November 2024. Since then, the indicator has started to decline, while BTC is currently trading around $77,000.The rapid rebound of the stablecoin demand indicator coincided with a strong liquidity pulse that occurred earlier in the market. However, what is more concerning now is not the short-term spike itself, but whether this demand signal can be sustained. If the 90-day SSR Oscillator continues to decline and falls back below the "high" zone, the confirmation strength of this indicator regarding the sustained increase in stablecoin buying demand will weaken. Currently, this change appears more like a liquidity pulse rather than a formed persistent demand expansion cycle.The demand signals from the stablecoin side have indeed strengthened significantly recently, but the 90-day oscillation indicator has already started to cool down from its peak of 3.74. If it cannot maintain itself in the "high" zone, then whether this liquidity improvement can evolve into more lasting demand growth remains in question.

BTC OG insider whale agent Garrett Jin posted on the X platform stating that BTC has held the critical price level of $76,600. If BTC further rises above $79,000, the price may attempt to form a higher high.However, even if BTC forms a higher high, it is still not enough to confirm that a true breakout has occurred in the market.

According to Bloomberg, David Bailey, the cryptocurrency entrepreneur who helped Trump shift to supporting Bitcoin, is trying to rebuild his business after the stock price of his Bitcoin treasury company, Nakamoto, has fallen about 99% from its peak. Previously, Bailey raised approximately $760 million for the publicly listed company to establish Bitcoin reserves.Nakamoto announced its entry into the public market through a merger in May 2025, and since then, the stock price has cumulatively dropped about 99% from its high. This trend is also part of the overall correction of digital asset treasury companies, as the premium investors previously paid to indirectly hold Bitcoin through a listed company has largely disappeared.Bailey's hedge fund had previously achieved a 640% return when investing in similar strategies. He stated that he still occasionally keeps in touch with the White House and is trying to prove that, after the significant drop in stock price, Nakamoto still has a sustainable real business.

According to a report by the Korean News Agency, the LLM Token Expenditure Index released by the American market information agency Silicon Data fell to 97 cents per million tokens on August 31, marking a historical low since the index was established at the end of last year, down over 50% from its peak in May ($2.05).Analysts believe that the launch of the open-source model "Kimi K3" by Chinese AI companies, OpenAI's price reduction for the ChatGPT-5.6 series models in July, and the implementation of dynamic pricing mechanisms by leading manufacturers are the main driving factors behind this round of price decline. While the drop in token prices helps reduce user costs, it will create revenue pressure for model developers such as OpenAI, Anthropic, and Google.The investment head of Seez Group pointed out that foundational model companies are the most directly impacted and suggested shifting towards strengthening distribution channels, memory, and contextual capabilities to increase user migration costs in response to the competitive erosion from open-source models.

Cryptoquant founder and CEO Ki Young Ju stated that the peak of the current Bitcoin bull market cycle may be driven by institutional funds and ETF demand outside the United States. He pointed out that deeper stablecoin liquidity and tokenized asset infrastructure will expand global market participation. Using South Korea as an example, Ki Young Ju mentioned that the country currently does not have a spot Bitcoin ETF, retail investors cannot purchase overseas-listed spot Bitcoin ETFs, and most companies are unable to open trading accounts to buy BTC. South Korea has phased in corporate participation, with the Financial Services Commission (FSC) roadmap covering about 3,500 listed companies and qualified professional investors, but financial institutions and other companies are still excluded.Strategy's Bitcoin bank evaluated 25 major institutions covering trading, custody, digital asset products, financing, and corporate participation, with an overall adoption rate of 32%. RWA.xyz data shows that the global tokenized asset distributed asset value is $38.63 billion, an increase of 2.65% compared to 30 days ago. The Bank for International Settlements (BIS) stated that stablecoins have the potential to enable faster, programmable payments, but current designs may pose risks to financial integrity, liquidity, and currency. Ki Young Ju pointed out that the cumulative net inflow before the launch of the U.S. spot Bitcoin ETF was about $57 billion over two years, and the next phase will be global institutionalization, with more institutions adopting BTC as a strategic asset, and countries lacking ETFs will also improve related investment channels.

According to Politico, four informed sources revealed that U.S. House Speaker Johnson plans to meet with Republican super donor Elon Musk in Texas on Friday. This meeting comes as Johnson is campaigning for Republican candidates across Texas ahead of the midterm elections. It is also the latest sign that Republican leaders hope Musk will contribute significantly to help the party maintain control of Congress.Sources indicated that Musk's schedule is subject to change, and the meeting may be adjusted at the last minute. Reports suggest that the tech billionaire is considering investing at least $100 million through his super PAC "Americapac" for the Republican Party in this year's midterm elections, but it remains unclear where those funds will ultimately go. Two of the aforementioned informed sources disclosed that some Republicans believe Musk is considering directing part of the funds to key battleground districts for House Republicans.

After reaching an all-time high on May 13, Alphabet's stock price has fallen 15% from its peak, with a market value evaporating by $692 billion.The market is concerned about its advantages in the field of artificial intelligence and talent loss, leading to a decline in investor confidence.

CryptoQuant founder Ki Young Ju stated that the peak of this bull market cycle is likely to be driven by institutional funds and ETFs outside of the United States. Currently, South Korea has not yet launched a spot Bitcoin ETF, retail investors cannot purchase overseas related ETFs, and companies are even unable to open trading platform accounts to buy BTC.Ki Young Ju believes that the market was primarily driven by the adoption of Bitcoin in the United States, but the next phase will shift towards global institutionalization, accompanied by deeper stablecoin liquidity and RWA infrastructure. More institutions will hold BTC as a strategic asset, and several countries that have not yet launched ETFs will gradually improve related investment channels. The peak of this cycle may occur when a banker from a local bank in South Korea recommends a spot Bitcoin ETF to an elderly woman, suggesting it for savings.