Alibaba completes HK$80 billion new share placement, with all proceeds to be used for AI and cloud infrastructure.

Well-known trader Killa stated that based on higher time frame structures, he is roughly 80% confident Bitcoin has formed a bottom. However, strictly following technical confirmation standards, the current trend has not yet fully shifted, as BTC has failed to reclaim and hold above the $83,000 high on the weekly timeframe. $83,000 is the key level to confirm a substantial trend reversal. If Bitcoin breaks above this range and secures market acceptance, traders should avoid blindly shorting subsequent rallies, as bears could face significant short squeezes that push prices toward $95,000. In the short term, he anticipates the market will remain range-bound.

Bitcoin’s next move may hinge on three key events this week: the U.S. July PCE inflation data, NVIDIA’s second-quarter financial results, and remarks from Federal Reserve Chair Warsh at the Jackson Hole Symposium. After surging from around $63,000 to above $80,000, Bitcoin has now pulled back to below $79,000, with its 14-day Relative Strength Index (RSI) exceeding 70, indicating a short-term overbought condition. Markets expect the U.S. July core PCE to rise 3.2% year-over-year and 0.18% month-over-month, compared to 3.3% YoY and 0.13% MoM in June. A hotter-than-expected reading could reignite fears of Federal Reserve rate hikes, putting pressure on Bitcoin and the broader crypto market. CME FedWatch data shows the bond market currently assigns a nearly 38% probability to a 25-basis-point Fed rate hike in September. NVIDIA will release its second-quarter earnings after the market close on Wednesday. A strong beat on results could ease market concerns over AI capital expenditures relying on debt financing, and support risk assets. Since the start of 2025, the 90-day rolling correlation coefficient between Bitcoin and NVIDIA’s stock price has remained above 0.5 for most of the period. Traders will also be watching Warsh’s remarks on Friday. The U.S. Treasury’s recent plan to increase long-term Treasury repurchases to curb yield rises has been viewed by markets as a catalyst driving Bitcoin’s recent rally. Markets will monitor whether Warsh adjusts his previous stance favoring market-based pricing, and whether he expresses support for the Treasury’s related actions.

According to an official announcement, Bitget has listed PURR (Hyperliquid Strategies) on its stock contracts. The contract settles in USDT, supports up to 20x leverage, and enables 24/7 trading. As of now, Bitget offers a total of 293 stock perpetual contract underlyings.

According to Sepah News, the official news website of Iran's Revolutionary Guards, Hossein Mohbi, spokesperson for the Guards, commented on the latest situation in the Strait of Hormuz, saying: "The Strait of Hormuz is currently under our control, and there are no enemy warships in the Persian Gulf." He added: "From a military and territorial jurisdiction perspective, no vessel can transit the waterway without Iran’s permission and compliance with its management." Mohbi stated: "The Strait of Hormuz belongs to Iran and Oman, which borders us across the sea. About a month ago, we held negotiations with Oman and reached an outcome acceptable to both sides. During these talks, the two sides agreed on the respective shares of the strait’s waters held by each country, as well as the revenue shares Iran and Oman would receive from it. The United States is interfering in this process, which has delayed the relevant work." He emphasized: "If the United States does not accept our conditions, the Strait of Hormuz will never be opened." (Jinshi)

Avalanche treasury company AVAT has released its Q2 2026 financial results, with its board of directors approving a $10 million Class A common stock repurchase plan. The company completed its business combination on June 11 and began trading on the Nasdaq under the ticker symbol "AVAT". AVAT posted a net loss of $44.7 million in the second quarter, or $1.54 per share. Approximately $35.7 million, or around 80% of the net loss, stemmed from fair value changes, realized losses, and impairments on its AVAX holdings; the business combination generated roughly $15.2 million in one-time transaction costs, while core general and administrative expenses totaled about $3.5 million. As of June 30, AVAT held approximately 15.3 million AVAX, with a carrying value of around $100 million. The company generated $1.5 million in adjusted quarterly revenue from staking its AVAX; staking revenue totaled $3.6 million for the first half of the year, and it will continue to accumulate and deploy AVAX treasury assets going forward.

A Reuters survey shows the S&P 500 is projected to reach 7,900 points by the end of 2026, up from the 7,620-point forecast in the May survey. The Dow Jones Industrial Average is expected to hit 54,500 points by the end of 2026, compared to the 52,500-point projection in the May survey.