First bear-market trend line reclaim since 2025: Five things to know in Bitcoin this week
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Analysis: Strategy sold off its first large-scale BTC transaction in five years, but the market did not show excessive panic.
According to BlockBeats, on July 7th, Crypto Quant analyst Axel Adler Jr. reported that Strategy (formerly MicroStrategy) recently sold 3,588 BTC, worth approximately $216 million, marking the company's largest Bitcoin sale in history. However, the market did not experience a significant drop, with the BTC price remaining around $63,000. This is Strategy's first large-scale net sale since December 2022. The sale was completed in two batches: 1,363 BTC were sold between June 29th and 30th at an average price of approximately $59,256, generating $80.8 million; 2,225 BTC were sold between July 1st and 5th at an average price of approximately $60,773, generating $135.2 million, for a total of approximately $216 million. This sale is primarily intended to pay preferred stock obligations and replenish dollar reserves, and does not represent a change in Strategy's long-term Bitcoin strategy. The company currently holds approximately 843,775 BTC and approximately $2.55 billion in dollar reserves. This sale represents only about 0.4% of its holdings, indicating more liquidity management than a signal of divestment. From the derivatives market perspective, the news of Strategy's sale led to a significant cooling of sentiment in the Bitcoin futures market. The composite market index fell from the bullish zone of around 80 on July 6th to 32.6, entering the bearish zone, and at one point approached 20, indicating that leveraged funds began to shift towards a defensive stance. However, the Bitcoin price reacted only moderately, currently remaining above its 30-day fair value. The market tends to view this sale as a passive liquidity operation rather than a systematic exit from Bitcoin by Strategy. The market is currently in a "neutral to cautious" state, with relatively stable price performance, but derivatives positions have clearly weakened. If the overall market index rises back above 55, it may indicate a recovery in market risk appetite; if it remains below 45 for an extended period, it could further drag BTC down below its fair value.
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BTC price loses 200-week trend line as 2022 repeats: Five things to know in Bitcoin this week
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South Korean stocks plunge 20%, nearing a bear market; the AI boom faces the awkward situation of "the more disastrous the earnings, the steeper the decline."
According to BlockBeats, on Wednesday afternoon, July 8th, South Korean stocks extended their losses as investors reassessed the outlook for AI demand. The KOSPI index fell by more than 6% at one point, breaking below 7200 points, and has cumulatively fallen by more than 20% from its all-time high last month, poised to enter technical bear market territory. Memory chip maker SK Hynix fell by as much as 5%, and Samsung Electronics fell by 6.9%. The Korea Exchange initiated a temporary trading halt on the KOSPI index, suspending algorithmic trading. South Korean stocks were among the strongest performing markets globally this year, but their performance is highly dependent on SK Hynix and Samsung Electronics, amplifying volatility when sector sentiment weakens. Even with Samsung Electronics announcing a 19-fold surge in quarterly profits earlier this week, chip stocks continued to be under pressure. Jordan Klein, a TMT sector expert at Mizuho Securities, stated that investors overreacted to Samsung's preliminary second-quarter results. He believes this sell-off in semiconductor stocks is more a sign of waning momentum than a deterioration in fundamentals. Klein stated that excluding one-off bonus expenses, Samsung's operating profit actually significantly exceeded expectations, with its storage business implied operating margin potentially exceeding 80%. He indicated that Samsung's single-quarter operating profit has already surpassed the total of the past three years, and reacting to Samsung's stock price based solely on preliminary results is "extremely short-sighted." Meanwhile, an AI trading rotation occurred in Asian markets. Hong Kong-listed Chinese stocks rose, with the Hang Seng China Enterprises Index rising as much as 3.4%, the Hang Seng Tech Index rising over 5% intraday, Alibaba rising over 8%, and Tencent rising over 3%. Market analysts believe that funds are flowing from crowded trades focused on AI infrastructure to markets with lower valuations and more value-oriented characteristics. Reuters' report on DeepSeek's self-developed chip and The Information's report on Zhipu AI considering designing its own AI chip further fueled this rotation. (Jinshi)
Analysis: South Korean stocks have plummeted more than 20% from their peak and are poised to enter a technical bear market.
PANews reported on July 8th that, according to Jinshi, the South Korean stock market continued its decline, with the KOSPI index falling by more than 6% intraday, accumulating a drop of over 20% since its June peak, poised to enter a technical bear market. Samsung Electronics and SK Hynix fell by approximately 7% and 5% respectively, as investors reassess the prospects for AI demand. South Korea has been the world's best-performing stock market this year, but its over-reliance on two chipmakers makes it particularly vulnerable to shifts in industry sentiment. Leveraged ETFs amplified two-way volatility, further exacerbating market fluctuations. Despite Samsung Electronics' quarterly profit surging 19-fold this week, chip stocks continued their decline, highlighting that traders are demanding more evidence to justify the exorbitant investments across the entire supply chain. Fidelity International portfolio manager Ian Samson stated, "The current increased volatility stems largely from fundamental uncertainty."
Report: TradeFi contract trading volume accounted for 11% of total contract trading volume in the first five months of 2026.
According to a recent stablecoin industry report released by Binance Research on July 8th, in the first five months of 2026, TradeFi-related perpetual contracts accounted for approximately 11% of the total perpetual contract trading volume, with a cumulative trading value exceeding $1.1 trillion. Binance's trading value exceeded $500 billion, representing a market share of approximately 47%.