Bitcoin surges briefly, breaking through $75,000.

Held for 4 months, from a $92.5M unrealized loss to an $11.5M unrealized profit — what a legend! The #Matrixport (@BITofficial_EN)-linked whale is finally back in profit on his 120,000 $ETH ($187M) and 500 $BTC ($29.33M) longs, now up $11.5M.

SharpLink Gaming(@Sharplink) staked another 39,319 $ETH ($91M) 4 hours ago.

Gambler 0x004E's $BTC short was just fully liquidated! Over the past 2 days, he tried to short $BTC and $ETH 8 times and failed every time, losing a total of $3.28M.

According to HTX market data, Bitcoin has surged sharply for two consecutive days, with a cumulative gain of 16.66%, bringing its market capitalization back to $1.5 trillion. The broader cryptocurrency market has rebounded. Following a flurry of positive remarks on the crypto sector from US President Trump this Wednesday, the first meeting of the US Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee was held this Thursday, with numerous crypto giants and executives in attendance, whose remarks further boosted the market. Meanwhile, CFTC Chairman Michael Selig stated that even if the US Congress fails to pass the Crypto Market Structure Act (the Clarity Act), the crypto industry will still obtain market structure regulatory rules. Selig noted that the CFTC can establish a market regulatory framework either by formulating rules or promoting legislation. He added that the CFTC is currently evaluating multiple crypto regulatory proposals, but will continue to monitor the progress of the Clarity Act. The bill is currently stalled in the US Senate, with a procedural vote expected in mid-September, though it remains uncertain whether it can secure enough votes ahead of the US midterm elections. Selig said legislation is "the most reliable approach," but the CFTC already holds substantial regulatory authority under existing laws. If Congress ultimately fails to pass the relevant bill, the CFTC will leverage its existing authority to enact regulatory rules.

Bitcoin has rallied sharply recently, reclaiming its position above the 200-day moving average (DMA) for the first time since November 2025. This morning, it surged past the $75,000 mark at one point, driving a broader recovery across the entire cryptocurrency market. The 200-day DMA is widely used to gauge an asset’s long-term trend, and a price reclaiming this level is typically seen as a signal of a shift toward bullish market momentum. If Bitcoin can hold above the 200-day DMA, it could signal that the months-long downtrend is easing. The rally comes after the U.S. Treasury Department announced an expansion of its long-term U.S. Treasury bond repurchase operations. Starting September 9, the Treasury plans to raise the cap on each long-term Treasury repurchase operation from $2 billion to at least $4 billion, aimed at improving liquidity in the long end of the U.S. Treasury market. The news pushed long-term Treasury yields lower and boosted market risk appetite. Geoff Kendrick, head of digital asset research at Standard Chartered, previously noted that the expanded Treasury repurchase program could further drive Bitcoin’s gains, potentially helping BTC approach the $100,000 mark by the end of this year.

Hyperliquid has released its first-half (H1) 2026 performance analysis. Key metrics show total fee revenue hit $419.3 million, up 31% year-over-year (YoY); daily active users rose roughly 90%, with trading volume reaching $1.29 trillion in H1, and June alone notching $266.5 billion in volume. However, Hyperliquid’s core protocol revenue fell 3.8% YoY to $305.3 million from $317.5 million in H1 2025. The decline stems from the rapid expansion of HIP-3 markets, which let external teams launch markets for stocks, commodities, pre-IPO assets and other products on Hyperliquid’s infrastructure, retaining 50% of trading fees. HIP-3 now contributes 11.2% of total fee revenue. In derivatives, Hyperliquid’s open interest (OI) stands at ~$9.1 billion, accounting for 10.3% of the global crypto perpetual contract market and up 24.8% YoY; its on-chain perpetual contract market share is 54.5%, exceeding that of all other on-chain platforms combined. On valuation, including the ~$309 million annualized HYPE token issuance cost, HYPE’s adjusted price-to-earnings ratio is ~23x, nearly matching the ~24.5x average of peers including traditional exchanges CME, CBOE, Interactive Brokers and Coinbase. The report projects a USDC reserve yield partnership could add $135–160 million in annual revenue for Hyperliquid, which would be used for HYPE buybacks. It flags H2 growth risks including competition and regulatory uncertainty: HIP-3 markets rely heavily on individual developers, while stock and pre-IPO asset markets face unclear regulatory oversight. Still, new offerings like HIP-4 prediction markets, options products and USDC reserve yields could further diversify Hyperliquid’s revenue streams.