Tori上线前7天募资5000万美元，将机构级套利策略搬上链
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Frank J. Russo, the independent gubernatorial candidate for Florida, accepted cryptocurrency donations.
According to Foresight News , citing The Street, Florida independent gubernatorial candidate Frank J. Russo has announced that he will accept cryptocurrency campaign donations, becoming the first candidate in the state's 2026 gubernatorial election to accept such donations. All cryptocurrency donations will comply with current federal and state campaign finance laws. Russo previously proposed at the Consensus conference a plan to make Florida a leader in blockchain and digital asset investment, attracting blockchain companies, fintech startups and Web3 entrepreneurs to the state and directing state-level investment toward emerging technology sectors.
Bernstein: Maintains year-end target price of $150,000 for Bitcoin; current pullback is still weaker than historical cycles.
According to Mars Finance, on July 7th, despite a roughly 54% drop in Bitcoin's price from its October 2025 high of nearly $125,000, Bernstein maintained its year-end target price of $150,000. Bernstein believes that the current pullback is significantly less than the 75% to 90% declines commonly seen at the end of historical cycles, indicating a shift in market structure. In the current context of low market sentiment, Wall Street's clear target prices provide a price anchor, while historical retracement frameworks help traders assess risk. If this cycle follows historical trends, the market may still decline further, but institutional assessments of the subsequent recovery are still worth noting. The firm points out that the previous high of nearly $125,000 in October 2025 remains a significant resistance level; based on a historical 75% retracement, the corresponding price is approximately $31,000, which can be considered a key failure zone. Going forward, we will focus on whether the inflow of funds into Bitcoin spot ETFs and spot demand will rebound, as these are important signals for judging whether the market has entered a recovery phase.
Analysis: Bitcoin's 365-day Sharpe ratio has fallen to its lowest level since 2022, historically corresponding to multiple bear market bottoms.
According to BlockBeats, on July 6th, data from CryptoQuant showed that Bitcoin has fallen approximately 28% year-to-date, with its 365-day rolling Sharpe Ratio briefly dropping to around -21, its lowest level since the end of 2022, and currently remaining close to -20. The Sharpe Ratio measures an asset's risk-adjusted return. A negative value means investors are taking on higher volatility risk, but the actual return is lower than that of risk-free assets (such as 10-year US Treasury bonds). Given the current US Treasury yield of approximately 4.45%, this indicator reflects a significant deterioration in Bitcoin's risk-return performance over the past year. However, CryptoQuant points out that historically, a Sharpe Ratio falling to such an extreme negative value often indicates that market selling pressure is nearing exhaustion. Similar levels have appeared near the bottoms of the bear markets in 2015, 2019, and 2022, subsequently accompanied by the start of a new upward cycle for Bitcoin.
Market divergence in views on the yen's outlook has intensified, with a former Japanese finance official stating that a reasonable exchange rate should be around 130.
According to BlockBeats, on July 6th, as the USD/JPY exchange rate returned to around 162, market opinions on the yen's future trajectory became clearly divided. Tatsuo Yamasaki, former Vice Minister of Finance for International Affairs at the Ministry of Finance of Japan, stated that the current yen exchange rate has significantly deviated from a reasonable level, and a level around 130 yen to the dollar would be more in line with fundamentals. He added that he "would not be surprised" if the yen rose to that level. Meanwhile, some market participants held the opposite view. Jesper Koll, Executive Director of Monex Group, and Calvin Yeoh, an analyst at Blue Edge Advisors, believe that if the Bank of Japan continues to lag behind in the normalization of monetary policy, the USD/JPY exchange rate could even rise to 200 or higher. Yamasaki also warned that the Japanese government's recent lack of intervention in the foreign exchange market should not be interpreted as a lack of willingness to act. He stated that the Japanese Ministry of Finance has issued multiple warnings and demonstrated its willingness to intervene, and yen short positions still face the risk of being forced to close out. Market participants expect the Japanese government may still intervene in the exchange rate in mid-July.
DeFi protocol Summer Finance suffers $6 million loss after attack.
According to BlockBeats, on July 6, BlockAid reported that the DeFi protocol Summer Finance is under continuous attack, with approximately $6 million in assets stolen so far.
Analysis: The Bitcoin "buy the dips index" AHR999 has dropped to 0.32, near its historical low.
According to Mars Finance, on July 6th, analyst Gaah wrote that the Bitcoin AHR999 index has currently fallen to 0.32, near its historical low. This indicator measures the deviation of Bitcoin's current price from its long-term fair value and is often used to develop Dollar-Cost Averaging (DCA) strategies. When the AHR999 index is below the "buy zone," it is generally considered a good time to allocate for the long term, helping to avoid chasing high prices during rapid increases. Currently, Bitcoin is in a phase of finding a bottom and attempting to reverse its bear market trend, and the overall risk-reward ratio has become quite attractive.