Nikkei 225 index surges 4% intraday, currently trading at 71,986.36 points.

Crypto options are set for their quarterly expiration and settlement tomorrow. Data from crypto derivatives platform Deribit shows that crypto options with a total notional value of $11.32 billion will expire, with details as follows: · BTC options have a notional value of $9.68 billion, a put/call ratio of 0.75, and a max pain point of $72,000; · ETH options carry a notional value of $1.64 billion, a put/call ratio of 0.56, and a max pain point of $2,000.

According to monitoring by Onchain Lens, whale address 0x096, which had remained dormant for seven years, sold all 27,585 ETH at an average price of $1,625, obtaining 44.84 million USDS and locking in a profit of $39.1 million.

Due to Micron Technology (MU)'s financial results and market expectations, multiple investment banks have raised the chipmaker's price targets. JPMorgan Chase lifted Micron's price target from $550 to $1,540; D.A. Davidson raised its target from $1,500 to $2,000; and H.C. Wainwright hiked its target from $1,750 to $2,000.

According to a report by the Financial Times, driven by intensified sell-offs in tech stocks, Bitcoin has plunged to a 20-month low as market risk sentiment continues to weaken. Bitcoin briefly fell below $60,000, with an intraday drop of up to 5.4%, hitting its lowest level since October 2024. Over the past two years, traders have viewed $60,000 as a key support level. This sell-off follows widespread selling of large-cap tech stocks this week. Traders are betting the U.S. central bank will raise interest rates to tackle inflation; higher rates are likely to suppress risk appetite, prompting investors to re-evaluate overvalued assets and shift toward relatively safe assets. In recent years, crypto assets have been highly correlated with stock market moves, but this relationship is now under strain. Bitcoin and Solana have fallen 32% and 47% respectively this year, with no significant recovery even amid stock market rebounds. Part of the reason is declining retail investor demand for crypto, as they turn to chasing volatility in AI-related stocks. Gerry O’Shea, Head of Global Market Insights at crypto asset management firm Hashdex, noted that with large IPOs and AI stocks dominating the market, sentiment remains weak. Analysts currently do not see major catalysts for the crypto market. U.S. capital markets are still digesting SpaceX’s world’s largest IPO, which listed on Nasdaq earlier this month, with AI firms like OpenAI and Anthropic expected to follow. Meanwhile, the U.S. digital asset regulatory bill Clarity Act remains stalled in the Senate. The bill faces strong opposition from the banking sector and has not yet secured enough bipartisan support.

According to Hyperinsight monitoring, a "sell on highs" whale has shorted all AI sector assets, with its main positions concentrated in short contracts for Micron Technology (MU), SK Hynix, and the DRAM index. After Micron’s earnings report triggered a sharp rally in the memory sector, the three short positions saw significant unrealized losses: MU (4x leverage): $7.26 million in size, average price $871, unrealized loss of $2 million; SK Hynix (SKHX, 4x leverage): $15.3 million in size, average price $1,461, unrealized loss of $3.13 million; DRAM (4x leverage): $4.37 million in size, average price $63.4, unrealized loss of $790,000. Total unrealized loss for the three positions is approximately $5.92 million. Currently, MU, SKHX, and DRAM are up 11.5%, 10.6%, and 9.6% on the day respectively. Whales holding these three on-chain assets still maintain a bearish stance, with nominal short/long ratios of 1.5, 1.4, and 1.75 respectively. The average entry costs of large holders are as follows: MU: Long whales’ average price is ~$1,066, short whales’ average is ~$894, current price is $1,220; SKHX: The average prices of long and short whales are almost identical, around $1,638, both below the current price of $1,876; DRAM: Long whales’ average price is ~$68.5, short whales’ average is ~$72.1, current price is ~$78.3. Address: 0x4c78a97cef589b01bb91dbf893fffa14243d2444

Micron CEO Sanjay Mehrotra stated during an earnings call held early this morning that, “In the robotics sector, ongoing advances in simulation, foundation models, and integrated software-hardware technology stacks are accelerating the development of Physical AI. This is creating a growing and substantial opportunity for high-bandwidth, low-power memory and storage devices, as these technologies underpin real-time perception, reasoning, and control. Humanoid robots carry 10 times more storage capacity than the average L2+ class vehicle. We anticipate a sustained, sizable multi-decade storage demand cycle will begin in the latter part of this decade.”