Bitcoin derivatives open interest fell by approximately $1 billion over the past 24 hours, as the market cleared leverage amid sharp CPI-driven volatility.

Renowned trader Killa published an analysis noting that Bitcoin has been in repeated choppy swings recently, with the market repeatedly hunting long positions below previous lows—aimed at liquidating leverage and gradually eroding the confidence of long-position holders. Killa argues that this continuous stop-hunting behavior typically signals the market’s ultimate intent to reward longs, with the final sweep marking a local bottom before prices extend higher. A BTC-focused quantitative trader, Killa correctly predicted the peak of the current bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, and shifted to a long position on June 5 amid the market’s broad sell-off.

Crypto analyst Darkfost cited market data, noting that based on the latest CPI figures, the U.S. core CPI has hit a low not seen in over five years. While monthly inflation remains elevated, the long-term downward trend since 2022 is clear. Darkfost argues the Federal Reserve (Fed) bases its decisions on long-term developments rather than monthly noise. Although market forecasts put the probability of an interest rate hike as high as 85-90%, Darkfost asserts there is no urgency for the Fed to raise rates in September.

Donut AI CEO and founder Chris recently disclosed his holdings and live trading results on the FOMO platform (FOMO account: chriszhuureal). Over the past 30 days, he has generated approximately $130,000 in profit, trading multiple active tokens on the Robinhood Chain, including PONS, AI, and BONER. According to Chris’s Twitter post, he has held PUMP for several months, citing that the protocol is one of the most stable revenue-generating products in crypto, with solid operations and high retail investor exposure. This position has now realized a profit of around $930,000. However, he also pointed out PUMP’s shortcomings: its mobile experience is laggy, and its design is not centered on social elements—exactly why he shifted to testing FOMO. Additionally, Chris said he took profits on PONS when it hit a roughly $600 million market cap, and shortly after spotted a token launchpad emerging on the Solana ecosystem, leading him to buy STONK at the bottom. His view: Solana token performance depends on the amount of SOL on-chain, while the Robinhood ecosystem relies on the amount of cash and FOMO sentiment on the platform. This marks a difference in asset flow: the Robinhood Chain is too new, with its market performance almost entirely driven by inflows of new retail funds; by contrast, Solana token pricing will revolve around the flow of existing SOL. On position entry details, Chris revealed he entered STONK at an $89 million market cap, based on PONS’s previous surge to nearly $1 billion. STONK has since broken through a $280 million market cap, and the profit screenshot he shared shows gains of roughly $180,000. While he notes STONK’s buyback design lags behind that of Robinhood Chain’s launchpad Long.xyz, he remains more optimistic about the Solana ecosystem’s future development. Finally, Chris stated in a long post that he will continue holding STONK and PUMP, but reminded all crypto investors to always prioritize taking profits in trading.

White House Digital Assets Advisory Committee Executive Director Patrick Witt stated that the legislative window for the U.S. crypto market structure bill Clarity Act is narrowing. If the procedural vote scheduled for September 15 fails this week, there will be significant uncertainty about when the bill can advance again. U.S. Treasury Secretary Scott Bessent also urged lawmakers to push forward with the bill, warning that a legislative failure would send "concerning signals" regarding the U.S. crypto industry's leadership. The revised bill has incorporated 114 amendments proposed by Democrats, but according to Politico, it has yet to gain support from Democratic lawmakers, and advancing the bill requires at least six Democratic votes. Market participants including CK Zheng, founder of ZX Squared Capital, believe that if the Clarity Act is officially enacted, it could prompt large institutions waiting for regulatory clarity to accelerate their entry into the crypto market. Coinbase CEO Brian Armstrong previously noted that a $400,000 Bitcoin price target by 2030 is a "reasonable goal," corresponding to a market cap of around $8 trillion.

Liquid Capital founder Yilihua stated, "Interest rate hike expectations have emerged in the past two days, leading to divergent market trends. Now that bearish news has surfaced, two scenarios lie ahead: If a real rate hike is implemented, Bitcoin will likely break below $76,000 in the short term, consolidate at a lower level before rallying again. If no rate hike is delivered, prices will continue to rise. Regardless, trading spot assets without leverage is optimal. During a business school exchange in Shenzhen today, Yilihua outlined three key opportunities over the next three years: First, spot holdings of major cryptocurrencies BTC and ETH could generate around a 4x return; with strategic swing trading, one could aim for a 10x return. Second, trading infrastructure (Infra) still holds potential for 100x returns, as transaction activity is the core demand of the blockchain sector. Third, the 'IPOs' defined by CZ—on-chain stocks and IPO assets—will bring genuine high-quality under-the-radar assets, marking the end of the era of whitepaper-based tokens."

HIP-3 market deployer Entropy has launched the Anthropic Pre-IPO Market on Hyperliquid. As Anthropic’s IPO draws near, its market cap on the platform surpassed $2.3 trillion on the 9th before pulling back, currently trading at $2.159 trillion. As of press time, Anthropic’s pre-market contract open interest stands at $28.19 million, with trading volume reaching $6.74 million. Additionally, OpenAI’s pre-market contract market cap on Entropy is now at $164 million, with open interest reported at $7.67 million.