Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

This morning, Dan Bin, chairman of Oriental Harbour, shared a Morgan Stanley analyst’s view, noting that the chip sector saw a sharp sell-off and massive leveraged liquidations in July. However, amid the broader AI cycle, such a pullback is both an inevitable stage and a sign of a healthy market. The market has yet to fully grasp the infinite demand potential of AI as an "intelligent" product; concerns over capital expenditures by major tech firms mirror the early days of Amazon’s AWS, but AI opportunities are far larger. Capital is flowing back to high-quality tech stocks from low-quality ones, validating the outlook that "the kings will return" by the end of 2026. Memory chips still carry cyclical risks and high volatility, so it’s advisable to wait for technical repair. A more positive outlook is held for fundamentally strong players like NVIDIA, Broadcom, and TSMC, with capital expected to flow more into high-quality application-layer stocks. On the other hand, hyperscale cloud providers are seeing accelerating business growth, with large order backlogs that continue to expand, indicating that previous penalties on capital expenditures were misjudgments—these investments will translate into solid future revenues. Looking ahead to August, the Nasdaq rally is expected to continue until NVIDIA’s earnings report, as the tech sector’s rotational correction nears its end, with capital accelerating its flow back to high-quality tech stocks. In terms of sector-specific operations, investors should avoid chasing highs in the chip and memory sectors for now. However, they can adopt a short-term swing trading strategy of buying on dips until the memory sector fully forms a bottom pattern technically.

According to Bitget market data, the Nikkei 225 index opened 659.27 points lower on Monday, August 3, down 1.02% to 63702.75 points. South Korea’s KOSPI index opened 217.22 points lower the same day, a 3.29% decline, at 6378.23 points. SK Hynix fell 4%, and Samsung Electronics dropped 5%.

In the security incident involving Coldcard, the hardware wallet brand under Coinkite, the number of stolen bitcoins has risen to approximately 1,359.882 BTC. According to statistics from the Coldcard Sweep Watch dashboard, most of the identified stolen bitcoins remain in a small number of addresses controlled by the attackers. On August 1, one of the attackers' holding addresses received a transaction containing OP_RETURN data. The data publicly offered bitcoin "cleaning" services, KYC assistance, and illicit fund withdrawal services for a 10% fee, along with a Telegram contact. Coinkite has released an emergency firmware update to resolve the weak random number generation issue that caused the original vulnerability. The company noted that the new firmware only protects wallets created in the future and cannot repair seeds generated in affected versions. Some users have reported that after installing the update, their devices get stuck on error screens, fail to boot, or are potentially bricked, with issues primarily affecting Mk4 and Q models, while Mk3 users have also reported similar problems. As of August 2, Coinkite has not publicly confirmed the existence of widespread firmware defects.

According to monitoring by Onchain Lens, Abraxas Capital transferred 61.19 million USDT to Bitfinex, valued at approximately $61.19 million. It also supplied 40,000 ETH via Spark Protocol’s Wrapped Token Gateway, worth around $75.17 million, bringing the total transfer amount to roughly $136 million.

US President Donald Trump said Sunday (Eastern Time) that he canceled a planned strike on Iran at the request of Saudi Arabia, the United Arab Emirates, Qatar, and Iran. "If not for their request, a large-scale attack on Iran would have been launched last night, and Iran is fully aware of the scale of this operation," he stated. Trump added that an agreement on the Strait of Hormuz has been reached, and a denuclearization deal will also be finalized. "We are currently in negotiations with them, set to begin tomorrow afternoon (Beijing time Tuesday morning). We stand ready to act at any time." He also addressed the yen, noting: "The US intervened due to its strong relations with Japan. We have always supported Japan, and the US has reaped economic benefits from the relevant arrangements."

US Treasury Secretary Bessent stated, "Our government supports America’s trusted partners. Economic security is national security, and the U.S.-Japan alliance is built on both. Last Friday’s coordinated foreign exchange action addressed the disorderly fluctuation of the Japanese yen. The Treasury Department is closely monitoring developments and maintains close communication with colleagues from Japan’s Ministry of Finance and the Bank of Japan. We will not hesitate to participate in further joint interventions. The FIMA Repo Facility (Foreign and International Monetary Authorities Repo Facility) is an important backstop. We encourage expanding its size in the coming months. We strongly support Japan’s decisive market and monetary measures taken to correct the yen’s significant undervaluation."