Bitcoin Retreats Briefly Falls Below $102,000

According to HTX market data, Bitcoin has fallen below $63,000, recording a 1.5% decline in the past 24 hours.

Binance will stop supporting deposits and withdrawals of Sophon (SOPH) via BNB Smart Chain starting at 08:00 UTC on August 21. Users can still deposit or withdraw the token through other networks supported by Binance.

According to Bitget market data, South Korea's KOSPI index closed up 164.0 points today, with a 2.41% gain, at 6977.34 points. The index has risen 11.5% cumulatively this week, ending its seven-week consecutive losing streak.

Crypto exchange Gemini, founded by the Winklevoss brothers, released financial results showing it has posted losses for four consecutive quarters since going public. The report shows Gemini’s net loss in Q2 2026 was $107.7 million, or $0.89 per share, exceeding analyst expectations. By comparison, the company’s loss in the same period last year was $133 million. Despite ongoing losses, Gemini’s Q2 revenue rose 37% year-over-year to $45.5 million, beating market forecasts. Gemini completed its initial public offering (IPO) in 2025, listing when the crypto market hit all-time highs, but a subsequent market correction has pressured its performance. The latest results indicate revenue growth has not yet reversed the company’s profitability challenges.

Investor Michael Burry, famous for "The Big Short", has recently drawn attention for his paid investment newsletter business. His Substack publication "Cassandra Unchained" surpassed 300,000 subscribers just 231 days after launch. At an annual subscription rate of $379, this translates to a theoretical annual revenue of approximately $113.7 million. However, this is a theoretical upper limit that does not account for factors such as the share of free subscribers and platform fees, and Burry has not publicly disclosed the actual number of paid subscribers. Burry launched the newsletter in November 2025, using it to share investment insights, portfolio updates, and market analysis. Currently, its subscribers come from 212 countries worldwide, with around 52% based outside the U.S. Meanwhile, Burry has this year repeatedly bet on AI bubble risks, openly shorting AI and semiconductor-related stocks including Nvidia, Micron Technology, and Applied Materials. But market moves have not played out as he expected: Micron has seen a roughly 697% surge this year, while Nvidia, Applied Materials, and other stocks have also risen sharply, putting his short positions under pressure. Alongside his AI short bets, Burry has also positioned in select value stocks, including PayPal, Lululemon, Alibaba, and JD.com, stating that as the AI hype cools, capital may flow back to traditional value assets. So far, Burry’s investment performance has come under pressure, but subscription revenue from his personal brand may be his most reliable source of cash flow this year.

According to Farside's monitoring, U.S. spot Bitcoin ETFs posted a net outflow of $131.1 million yesterday, marking their second consecutive trading day of net outflows. Meanwhile, U.S. spot Ethereum ETFs recorded a net inflow of $5.9 million, their second straight trading day of net inflows.