U.S. pre-market trading sees gains in storage and semiconductor sectors: Nvidia rises 1.1%, while Micron and SanDisk climb nearly 2%.

CryptoQuant analyst Axel Adler Jr. stated that after a pullback, Bitcoin has reclaimed its short-term holder cost base of roughly $68,200. Meanwhile, with rising trading volume, the price has broken through the SMA200 (200-day simple moving average) level of around $69,000 and SMA111 of approximately $67,500. A large number of holders who bought recently are back in profit, easing the selling pressure from short-term holders who were in the red. However, Bitcoin’s moving average alignment still maintains a bearish structure: SMA111 sits below SMA200, and both are lower than SMA365’s roughly $83,200. This indicates the current move is merely a strong short-cycle recovery, not a confirmed reversal of the broader trend. The most critical upside resistance is the SMA365 level at $83,200. If the price stalls and pulls back at this level, the existing bearish structure will hold; if it can effectively reclaim it, this could mark the first serious evidence of a trend reversal. Key downside support lies in the $67,000 to $69,000 range, which encompasses both the short-term holder cost base and the dense zone of SMA111 and SMA200. As long as the pullback holds this range, short-term holders remain profitable, and the price stays above the moving averages, the market structure still holds upside potential; a break below would resume downside risks. The current market is leaning positive but has not yet fully entered a high risk appetite mode.

Data from Bank of America (BofA) shows that active long-term funds significantly reduced their holdings of global semiconductor stocks last month, with sell-offs totaling around $44.4 billion, indicating institutional capital is exiting the most crowded AI trades. Capital flows have instead shifted to sectors including telecom, energy, materials, and grid modernization, reflecting a more pronounced reallocation within the AI theme. This data explains some of the recent pressure in the market. Ahead of NVIDIA’s earnings report, the market still holds high expectations for AI demand, but chip stocks have rallied sharply and become heavily concentrated in positions. Should long-term interest rates rise, AI revenue expectations cool, or returns on cloud providers’ capital expenditures come under question, the semiconductor sector will be the first to face selling pressure. BofA also noted that the top themes funds have sold over the past year include AI computing and quantum computing, indicating capital has not fully exited AI but is reducing exposure to highly crowded segments. BofA forecasts that chip stocks will remain driven by NVIDIA’s earnings, cloud providers’ guidance, and interest rate movements in the short term; over the medium term, capital may be more willing to allocate to sub-sectors that can benefit from AI infrastructure spending, such as power, equipment, networking, and storage.

According to Bitget's market data, WTI crude oil recorded an intraday decline of 2.00%, trading at $82.86 per barrel. Brent crude fell 1.65%, to $88.88 per barrel.

Galaxy Research Head of Research Alex Thorn released the latest statistics showing that the Coldcard hardware wallet hack resulted in the theft of approximately 1,789.28 Bitcoin across 8,865 addresses, with a total value of roughly $114.7 million at the time of the breach. Of the stolen funds, 1,561 Bitcoin (87.3% of the total) remain in addresses controlled by the attackers and have not been moved. All Bitcoin stolen in the first three attack waves has been untouched, while only a portion of funds from later attacks have been transferred via mixing techniques including CoinJoin and peel chains. The statistics are based on 221 victim reports, covering 790.72 Bitcoin (44.2% of total losses). The median loss per victim is 1.04272 BTC, with over half of those affected losing more than 1 Bitcoin. Galaxy has shared the identified attacker addresses with cryptocurrency exchanges, compliance firms, and law enforcement agencies, aiming to enable fund freezing once the stolen assets enter centralized platforms. The unusually high share of Bitcoin remaining unmoved long after the attack may indicate attackers are waiting for a safer window to cash out, or alternatively create a time window for tracking and freezing efforts.

According to market data from BIT (bit.com), pre-U.S. market trading saw stocks held by Nancy Pelosi—dubbed the "Hill Street Stock Guru"—rise: Bloom Energy gained over 5%, and Intel climbed 2.6%. The former U.S. House Speaker Nancy Pelosi, known as the "Hill Street Stock Guru," submitted financial disclosure documents on August 21, revealing her husband Paul Pelosi purchased Bloom Energy (BE, a fuel cell and clean energy firm) and Intel in late July. The purchases included roughly 15,000 common shares of BE plus 200 call options with a $100 strike price, expiring in June 2027, with a disclosed value range of $3 million to $12 million. For Intel, he bought 10,000 common shares and 50 call options with a $50 strike price, also expiring in June 2027, valued between $750,000 and $1.5 million. The Intel purchase is an addition to existing holdings, while the Bloom Energy buy marks a new position.

According to on-chain analyst Ai Yi (Twitter handle @ai_9684xtpa), BIT-related entities have a total of 11 addresses. These addresses previously held long positions in ETH and BTC worth a combined $419 million, and have since closed out the positions for a profit of $55.095 million. Currently, address 0xf78…6c581 holds 1,602.11 remaining ETH long positions, valued at $3.97 million, with an unrealized profit of $707,000.