Data: The current 8-hour average funding rate for the entire ETH network is 0.0027%
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In the past hour, nearly $6 million in SPCX contract liquidations occurred across the entire network, exceeding the figures for BTC and ETH during the same period.
According to Mars Finance, on July 7th, Coinglass data showed that nearly $6 million in SPCX futures contracts were liquidated across the entire network in the past hour, including $4.24 million in SPCX trading pairs and $1.6 million in XYZ:SPCX trading pairs. It's worth noting that while US tech stocks experienced a "Black Tuesday," the Bitcoin and crypto markets remained relatively stable, with only $4.86 million in BTC liquidations and $4.35 million in ETH liquidations during the same period.
Data: Strategy currently has a paper loss of $11.341 billion, and Bitmine has a paper loss of $9.406 billion.
According to Mars Finance, on-chain analyst Ember's monitoring, Bitcoin treasury company Strategy (MSTR) sold 3,588 BTC ($216 million) last week at a price of $60,197. They now hold 843,775 BTC ($52.343 billion), with an average cost of $75,476, resulting in a paper loss of $11.341 billion (-17.8%). Ethereum treasury company Bitmine (BMNR) bought 42,197 ETH ($69.03 million) last week at approximately $1,636. They now hold a total of 5,742,237 ETH ($10.037 billion), with an average cost of $3,386, resulting in a paper loss of $9.406 billion (-48.4%).
Core PCE inflation rate may be revised down by 0.2 percentage points; the US BEA will adjust some of its PCE calculation methods.
According to Odaily Odaily, the U.S. Bureau of Economic Analysis (BEA) recently announced adjustments to some calculation methods in the Personal Consumption Expenditures (PCE) price index. These changes are expected to be reflected in the data revision released on September 30, 2026. Market estimates generally indicate that this adjustment will lower the core PCE inflation rate by approximately 0.2 percentage points. Current data shows that core PCE inflation was 3.4% over the past 12 months ending in May 2026, consistently above the Federal Reserve's 2% target since March 2021. The BEA's adjustments primarily target three sub-sectors: portfolio management and investment advisory services, computer software and accessories, and legal services. Former Federal Reserve Governor Miran stated in a speech last December that "what should have been recorded as an increase in the quantity of service consumption was instead recorded as a price increase." Miran, along with Federal Reserve economists Alessandro Barbarino and Anthony M. Diercks, published a paper in May analyzing the shortcomings of existing statistical methods, including measurement issues related to portable storage devices and video games. JPMorgan economist Abiel Reinhart stated that "Grand Theft Auto 6 might also have the opportunity to influence the U.S. Treasury yield curve."
Justin Sun has staked $430 million in Ethereum on Lido, yielding an annualized return of approximately $9.5 million.
According to Odaily Lens monitoring, Justin Sun Sun has been continuously staking ETH through Lido Finance. 23 hours ago, Justin Sun staked another 13,000 ETH, worth approximately $23.08 million, bringing his total staked ETH on Lido to 247,436 stETH, currently valued at approximately $430.2 million. Data shows that since February 2023, this staking position has generated a total of 11,307 stETH staking profits, worth approximately $26.82 million. Based on the current profit level, Justin Sun position has an annualized return of approximately $9.5 million.
Analysis: Bitcoin may be entering a period of bottoming out; Strategy's sale of Bitcoin did not trigger panic.
According to a recent report by Bitfinex Alpha, as Odaily by Odaily, Strategy recently conducted its first large-scale Bitcoin sale, but the market showed strong resilience and no significant selling pressure emerged. Bitcoin rebounded after hitting a low of $57,803 on July 1st, and its performance in July remains positive, consistent with the views expressed in Bitfinex Alpha's previous report (No. 212), suggesting a potential market correction this month. Data shows that Strategy may have executed a BTC sale between June 29 and July 2, but the price of Bitcoin still saw a positive weekly increase during the same period, rising approximately 10.5% from its cycle low. Furthermore, on the last trading day of last week and the first trading day of this week, Bitcoin spot ETFs recorded inflows exceeding $200 million per day, ending a previous 10-day streak of net outflows, with a cumulative outflow of $2.73 billion. June was a challenging month for Bitcoin ETFs, with net outflows for nine consecutive weeks, reaching nearly $4.06 billion in June alone. However, these redemptions primarily reflect authorized participants (APs) returning ETF units and a decrease in passive funding demand, rather than indicating a large-scale immediate sale of Bitcoin through on-chain markets. The market is currently unable to fully determine whether investors have digested recent changes in fund flows, but spot trading volume does not fully reflect the impact of the previous large-scale outflows. With changes in ETF asset allocation and a return to positive fund flows, the Bitcoin market may face new variables in July. After a brief dip following the announcement of the Strategy sale, BTC prices quickly stabilized and have now returned to the lower end of the first quarter trading range, exceeding pre-announcement levels. ETF fund flows have recorded net inflows for three consecutive trading days, and the $61,000 level has become a crucial dividing line between bullish and bearish forces in the market. Bitcoin is currently in a downtrend on a higher timeframe, but the market structure is changing. Approximately 10.83 million BTC are currently in an unrealized loss state, while about 9.22 million BTC remain profitable, marking the first time that the number of losing BTC has exceeded the number of profitable BTC. Historically, this phase typically indicates significant pressure on spot holders and often approaches the bottoming phase of a bear market. However, a true macro bottom still needs confirmation from key indicators, such as Bitcoin consistently recovering to its current "True Market Mean" of around $71,500. While the current market environment may dampen sentiment in the short term, it also creates conditions for long-term funds to absorb selling pressure. As long-term holders and some whale re-accumulate, Bitcoin is shifting from low-conviction holders to high-conviction investors, and the next two to three months may be a crucial window for confirming a temporary bottom.
EDGE shares surged over 48% in the last 24 hours, currently trading at $0.504.
According to Mars Finance, on July 8th, market data showed that EDGE surged over 48% in the past 24 hours, currently trading at $0.504.