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The US economy is showing a divided state, with financial markets booming while the real economy is declining. The manufacturing PMI continues to contract, yet the stock market is rising due to concentrated profits in technology and financial companies, resulting in balance sheet inflation. Monetary policy struggles to benefit the real economy, and fiscal policy faces difficulties. The market structure leads to low capital efficiency, widening the gap between rich and poor and increasing social discontent. Cryptocurrency is seen as a relief valve, offering open financial opportunities. The economic cycle oscillates between policy adjustments and market reactions, lacking substantial recovery. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.
Due to the reassessment of Federal Reserve rate cut expectations and the fading rebound of the U.S. stock market, the crypto market continues to experience liquidations, with significant ETF capital outflows and options traders increasing bets on volatility. Institutions warn that technical support for bitcoin above $90,000 is weak.
As long as the system continues to recycle debt into asset bubbles, we will not see a true recovery—only a slow stagnation masked by rising nominal figures.
- 02:40Re7 Labs releases update on xUSD depegging incident, has hired a law firm to pursue legal action and asset recoveryChainCatcher news, Re7 Labs has released an update on the xUSD depegging incident, stating that it has engaged the law firm Pillsbury Winthrop Shaw Pittman to investigate the situation and provide advice on formal legal options, including asset recovery. Previously, Re7 Labs had contacted Stream Finance and Stables Labs multiple times but did not receive satisfactory responses. The lawyers have now sent legal notices to the relevant parties, demanding repayment and preservation of evidence. Currently, the Morpho Worldchain sdeUSD position has been fully restored, and the treasury risk exposure has been reduced by more than 50%.
- 02:24Alliance co-founder reiterates that the cryptocurrency market may face a correction of over 50%Jinse Finance reported that Alliance co-founder @QwQiao recently reiterated his warning about the cryptocurrency market, stating that he "pretty much" agrees with his previous prediction. He had warned that the next bear market would be more severe than most people expect, mainly because a large amount of "dumb money" with little knowledge of cryptocurrencies is buying digital asset trading platforms (DAT) and ETF products. He believes that this situation "never ends well," and predicts that the market may need to experience a pullback of about 50%. Only after these investors have cleared their positions can the market establish a solid foundation and resume supercycle growth. Although he did not provide a specific timeline, this reiteration shows that he remains firm in his prediction.
- 02:24A major whale made over $30 million in unrealized profits by shorting Bitcoin 20x, earning $9 million from funding rates alone.Jinse Finance reported, according to OnchainLens monitoring, a certain "ultimate short" whale is holding a 20x leveraged bitcoin short position, currently with a floating profit of $30 million, and has earned over $9 million from funding fees. The opening price was $111,400, with a position size of 1,231 BTC.