BlockBeats news, on August 27, K33 research director Vetle Lunde stated that a long-term holder exchanged 22,400 BTC for ETH, driving Ethereum to a record high last week, highlighting the shift in market momentum. However, the recent price weakness of Bitcoin may not be over yet, as a surge in leverage and a significant rotation of funds towards Ethereum continue to put short-term pressure on it. The nominal open interest (OI) of Bitcoin perpetual futures has soared to a two-year high, exceeding 310,000 BTC (approximately $34 billion), with an increase of 41,607 BTC in the past two months, including a spike of 13,472 BTC over the weekend, marking a potential turning point. The annualized funding rate for Bitcoin jumped from 3% to nearly 11%, indicating an increasingly aggressive long position during the relatively stagnant price period. Lunde stated.

On June 23, Jin10 reported that Goldman Sachs stated that while it still believes there will be no significant disruptions in oil and gas supply, the downside risks to supply and the upside risks to price forecasts have risen. The PolyMarket prediction market now suggests that there is a high likelihood of Iran disrupting the Strait of Hormuz in 2025. If Iran's oil supply were to decrease by 1.75 million barrels per day, Brent crude oil prices are expected to rise to a peak of around $90 per barrel. If oil flow through the Strait of Hormuz decreases by 50% within a month and continues to decrease by 10% over the following 11 months, Brent oil prices are expected to briefly spike to a peak of around $110 per barrel. The European natural gas (TTF) and liquefied natural gas markets will also reflect the possibility of major supply disruptions. TTF prices are expected to rise to nearly €74 per megawatt hour.

In recent weeks, Avalanche's on-chain transaction volume has surged, with its 7-day moving average (7DMA) on-chain transactions reaching 1 million, the highest level in more than a year. By comparison, at the beginning of May, the number was just 296,000, meaning it more than doubled to 696,000 in less than two weeks, followed by a significant decline and slowdown at the end of the month. However, as June approached, Avalanche on-chain transactions exploded, with the 7-day moving average of (7DMA) growing from 400,000 on May 31 to more than 1 million in just two weeks. The increase in transaction volume is reflected in the 7-day moving average of average on-chain transaction fees, which doubled from 0.0035 AVAX in early May to 0.0072 AVAX at the time of writing. Considering the spike in trading volume in June, but not the number of active addresses, it can be speculated that the surge in trading volume in June was driven by a smaller group of users making exchanges more frequently, rather than a new influx of wallets, most likely catalyzed by arena.trade. arena.trade is a token issuance platform that allows users to mint tradable ERC-404 tokens directly from X posts using the joint curve mechanism.

Jin10 reported on June 16 that the Iranian intelligence forces discovered customized long spike missile launchers, which are equipped with internet-based automation and remote control systems, aimed at suppressing Iran's air defense systems. They are operated by "terrorists" from (Israel) Mossad.

PANews reported on June 16 that according to CoinDesk, Coinglass data shows that the token HYPE of the decentralized perpetual futures trading exchange Hyperliquid has reached an open interest of $2.06 billion, making it the fifth largest futures trading asset, surpassing DOGE ($1.83 billion), but still behind XRP futures. Bitcoin, Ethereum, and SOL remain in the top three. Data shows that Hyperliquid accounted for 60% of the total trading volume of $94.3 billion in on-chain Perpetual Futures last week. The token is used for governance and fee payments and operates on a self-built Layer 1 blockchain. In the past three months, the price of HYPE has skyrocketed fourfold, reaching an all-time high of $44. This surge was accompanied by a spike in open interest and a positive annualized funding rate, which once soared above 100%, indicating strong demand for bullish leveraged bets.

Jin10 Data June 13 - Anoop Singh, Global Shipping Research Director at Oil Brokerage Ltd., stated: "The threat of war in the Middle East has a significant impact on freight rates." "There is no clear path for this brewing conflict, but a short-term spike in freight rates is possible." At least 15% of the world's very large crude carriers are in the Middle East Gulf at any given time, with about 20 vessels passing through the Strait of Hormuz each day.

Jin10 data reports on May 12, Canalys's latest data shows that in the first quarter of 2025, global tablet shipments rose by 8.5% year-on-year, reaching 36.8 million units. Driven by the upgrade cycle of devices in the consumer market and the education sector, all regions achieved growth. With the support of government subsidies, consumer demand in the Greater China region surged during the New Year period. In the United States, uncertainty over tariffs led to a spike in tablet imports in January, but after the announcement of tariff exemption policies, shipments in February saw a double-digit decline month-on-month.

The surge in "basis trading" in the U.S. bond market has led to a spike in U.S. Treasury yields, tightening market liquidity and putting pressure on risk assets. Hyblock warns that a fall of BTC to between $73,800 and $74,400 will trigger a wave of liquidation for long positions, exacerbating the downward trend. $70,000 is the key support level, and a break below it could lead to more liquidations.

On February 27th, according to the data from Jin Shi, CMB's macro research report believes that considering the spike in SOFR rates at the end of the quarter, the debt ceiling issue may cause a sudden increase in the TGA account, an increase in reserves, and fluctuations in the supply and demand of the repurchase market Liquidity, as well as other risk signals. The Fed may slow down or even halt its balance sheet reduction in advance to proactively address financial market Liquidity pressures. On the other hand, if the Fed increases the policy weight on inflation risks, leading to Liquidity shocks in the US financial market, the pro-cyclical nature of US stock capital flows will magnify market Fluctuations, further catalyzing the downward trend of the US dollar index.