The popular AI framework Virtuals Protocol will host an in-person meet-up in Hong Kong on Friday, January 17.

OKX will launch multiple stock perpetual contracts, with detailed rules as follows: ZHIPU/USDT contract trading opens at 15:00 (UTC+8) on June 24, 2026 MINIMAX/USDT contract trading opens at 15:15 (UTC+8) on June 24, 2026 UVXY/USDT contract trading opens at 17:00 (UTC+8) on June 24, 2026 KORU/USDT contract trading opens at 17:15 (UTC+8) on June 24, 2026 SONY/USDT contract trading opens at 17:30 (UTC+8) on June 24, 2026 SMCI/USDT contract trading opens at 17:45 (UTC+8) on June 24, 2026

Wintermute’s over-the-counter (OTC) trading desk noted in a report that Bitcoin (BTC) and Ethereum (ETH) are gradually testing the lower boundary of their recent trading ranges, with BTC potentially retracing to around $59,000 in the short term. Options market pricing indicates BTC’s short-term expected trading range is $61,242–$63,563, while ETH’s is $1,606–$1,694, with implied volatility of roughly 1.9% and 2.7% respectively. The current market structure is weak, with no new buying inflows into ETFs. Summer liquidity declines, combined with macroeconomic and geopolitical uncertainties, have increased asset correlations and led to convergent price movements. It identifies $59,000 as a key support level, and notes that this week will see critical event-driven factors including Federal Reserve inflation data and month-end option expirations.

According to Bitget market data, Hong Kong-listed chip stocks rallied in afternoon trading, pushing the Hang Seng Tech Index up more than 2%. Hua Hong Semiconductor (01347.HK) surged over 18%, Semiconductor Manufacturing International Corporation (SMIC, 00981.HK) gained over 10%, GigaDevice Semiconductor (03986.HK) rose more than 6%, while Loongson Technology (06809.HK) and Macroblock Semiconductor (06908.HK) climbed over 5%.

CryptoQuant founder Ki Young Ju has published an article bluntly stating that Strategy’s current Bitcoin purchases function more as a liquidity absorber than a price catalyst. Over the past two years, Bitcoin’s realized market cap has surged by $467 billion, yet its price has dropped by 1%. Even with hundreds of billions in inflows, ongoing trading activity has failed to lift prices. Ki Young Ju notes that in the current environment of sharply rising selling pressure, Strategy’s buying is focused more on defending a price range than driving a breakout. Worse, continuous purchases may hinder a market-clearing deep correction, instead providing more holders with liquidity to take profits. Comparing the current cycle to the classic Bitcoin sequence of crash, capitulation, weak hands exiting, and whales reaccumulating, the market has spent nearly two years in a wide sideways range—neither strong enough to confirm a new bull market nor weak enough to trigger real capitulation. This has left weak hands unable to fully exit and strong hands failing to actively reaccumulate, meaning the market may need a full reset to build a stronger recovery. Ki offered three recommendations to Saylor: First, pause Bitcoin purchases until cash reserves and dividend coverage are restored; Second, establish a systematic, model-driven buying framework to change the market’s perception that Strategy always buys at local peaks; Third, build a disciplined selling framework for the next bull market—selling a portion near cycle highs is not betraying Bitcoin, but deleveraging, realizing shareholder value, and creating ammunition to reaccumulate at lower prices. This is not trading, but risk management.

According to Bitget market data, South Korea’s KOSPI index rebounded in the afternoon, currently rising more than 2.7%. Samsung Electronics gained 7.8%, SK Hynix turned positive with an increase of over 1.9%, while the Hong Kong-listed Nanfang Double Leveraged Hynix Bull rose 2.8%.

According to Hyperinsight monitoring, as of press time, SPCX’s 24-hour trading volume on Hyperliquid stands at approximately $932 million, with a 12-hour decline of around 5.08%, currently priced at $155. On the news front, SpaceX’s recent narrative has revolved around its AI company positioning, new contracts, and its first U.S. bond issuance. The latest update is that its bond offering drew $89 billion in subscriptions. On Hyperliquid, SPCX’s positions of $1 million or more remain net-short, but as some short sellers take profits and new bottom-fishing whales enter the market, the short position size has fallen to $42.24 million, while long positions have risen to $31.57 million, putting shorts at roughly 1.34 times longs. The moving average for large short positions is currently around $169.2, with the latest liquidation line at $164. Notably, the largest short whale holding SPCX holds a 3x short position, opened approximately seven days ago. Its current position value is around $18.54 million, average entry price ~$167.41, liquidation price ~$208.88, and unrealized profit of ~$1.47 million. Address: 0xfc27136e42af1732ddc9ce2605ea9bff1b959d9d