The US stock market's storage sector opened sharply lower, with Western Digital falling more than 7%.

According to Lookonchain's monitoring, a trader has accumulated a $637,000 loss on Papertrade, with a cumulative notional trading volume of $2.84 billion. The trader incurred a $1.71 million trading loss and received 136 million PAPER tokens. Additionally, the trader earned $1.07 million in USDC rewards via staking, of which $943,000 has been claimed while $130,000 remains unclaimed. Overall, the trader’s net loss stands at $637,000.

As Microsoft (MSFT.O)’s four-month stock rally continues to accelerate, the company’s shares are on track to hit their first closing all-time high in nearly a year. Amid growing market confidence in Microsoft’s competitive position in artificial intelligence (AI), the stock has risen over 50% since its June low, adding roughly $1.5 trillion to its market capitalization. This milestone marks a dramatic reversal for Microsoft’s share price. Just months ago, the tech giant was among the worst-performing stocks in the S&P 500, as investors worried that its massive AI infrastructure spending was failing to deliver sufficient returns and that the software provider could face disruptive shocks. The stock plummeted 17% in June, its worst monthly performance since 2000, erasing nearly $600 billion in market value. The turning point came on July 29, when Microsoft released earnings showing its cloud computing business grew at its fastest pace in four years. The next day, the stock surged 16%, kicking off a strong rebound that led to Microsoft’s best quarterly performance since 1998. Following the July earnings release, at least two institutions upgraded Microsoft’s stock rating to "Buy", citing confidence in the company’s ability to capitalize on growing demand for AI services.

Trader 0x26b6 lost $637K on @papertrade_xyz. He lost $1.71M from trading and earned 136M $PAPER tokens. He earned $1.07M in USDC rewards through staking, with $943K already claimed and $130K still unclaimed. His net loss is $637K.

According to HTX market data, W is currently trading at $0.0181, down 30.45% over the past 24 hours.

According to market sources, Interactive Brokers has launched an Ethereum staking service powered by ZeroHash.

Well-known crypto trader Killa posted that for Bitcoin to evolve along its current price structure, it needs to form a higher low above $75,500, ideally holding the low near $80,000. This mirrors Bitcoin’s 2023 price action: back then, it posted a higher high on the weekly timeframe, then retested and defended its original range. This may explain why recent lower-timeframe moves have been so prone to triggering stop-losses, aggressive, and marked by algorithmic trading activity. Bitcoin once recovered its internal structure in the $82,000 range, then retested, broke below the structure again, and later reclaimed it. The entire market seems to be deliberately luring traders into positions. Admittedly, the initial dip to the $81,000 range was structurally unfavorable, but a large number of short positions were concentrated at lower levels at that time, which may account for the subsequent price reaction. Another notable detail: during Bitcoin’s decline from $84,100 to $81,000, only around $300 million in long positions were liquidated; whereas in the prior drop from $86,800 to $80,600, long liquidations exceeded $2 billion. The sharp fall in long liquidation volume indicates the market’s reliance on long positions may be lower than before. Current price action is quite delicate. Bitcoin needs to form a higher low at its current level to kick off a new rally; otherwise, this correction could push prices below $80,000. For now, the so-called "crash protection team" has done a solid job of propping up prices, but it’s also constantly disrupting lower-timeframe internal consolidation ranges.