Bitcoin Falls Below $112,000, 24-hour Decline of 2.57%

CryptoQuant analyst Axel Adler Jr. noted in a recent post that the 30-day moving average of Bitcoin’s average coin dormancy period has climbed to 19 days, marking the first time since the start of the year that it has crossed above the 365-day moving average. Previously hoarded BTC is becoming active again. However, following the Coldcard hack incident, this uptick may not stem from selling, but rather from large volumes of BTC being transferred to new wallets. As such, the current rise in dormancy should not be automatically interpreted as long-term holders distributing their holdings.

Citigroup has raised the target price for AI and cloud computing services provider Nebius from $278 to $324, and increased Coreweave's target price from $142 to $159.

According to the latest compiled data on current accounts and earn products of major centralized exchanges (CEXs), stablecoin current yields on platforms including HTX, Binance, OKX, and Bitget still follow a structure of "high yields for small amounts, tiered reductions for excess amounts". Among these, yields for small tiers of USDT, USDC, and Binance U products are relatively prominent. For USDT: HTX offers an annualized yield of 10% for the 0-200 USDT tier, which drops to 1.95% for amounts exceeding 200 USDT; Bitget’s 0-300 USDT tier yields 6.59%, with excess amounts at 1.93%; Binance’s 0-200 USDT tier yields 4.83%, while excess amounts stand at 1.83%; OKX’s USDT yield is 1.94%. For USDC: HTX’s 0-200 USDC tier has an annualized yield of 8%, and amounts over 200 USDC yield 2.75%; Bitget’s 0-300 USDC tier yields 6.66%, with excess amounts at 1.84%; OKX’s is 2.18%; Binance’s is 2.16%. For other stablecoins: HTX’s USDT VIP tier offers an annualized yield of 6%-9%, applicable for amounts between 50,000 and 100,000 USDT; Bitget’s USDT VIP 0-300,000 tier yields 2.38%, with excess amounts at 2.06%. USDE’s displayed annualized yields on HTX and Bitget are tiered at 5% and 3% respectively, with excess amounts at 1.00%; HTX’s USDD yields 4.00%; Binance U’s 0-8,000 tier has an annualized yield of 8.57%, falling to 0.57% for excess amounts. Overall, current high stablecoin yields on major CEXs remain concentrated in small amounts, with yields for large funds generally lower. When comparing related products, users should pay attention not only to the nominal annualized yield, but also to tier limits, interest calculation rules, supported currencies, and the real-time availability of the products. The above data are platform-displayed yields and do not constitute investment advice.

According to market data from BIT (bit.com), the US stock pre-market session saw the storage sector extend its rally, with SanDisk surging an additional 6%. Yesterday, SanDisk announced mid-to-high double-digit revenue growth targets, plans to return 100% of its excess cash to shareholders, a $93.9 billion long-term deal, and its HBF sample is scheduled to debut in 2027. Seagate Technology (STX) rose 2.1%, Western Digital (WDC) gained 2.6%, Micron Technology (MU) climbed 2.8%, and SK Hynix ADR advanced 1.3%.

Hong Kong-based stablecoin payment firm RedotPay has delayed its U.S. IPO plan, with the listing potentially pushed back to next year or later. The company raised over $150 million in financing rounds completed last September and December, with investors including the venture capital arms of Coinbase and Circle. Earlier reports noted that earlier this month, Binance-affiliated entities Nest Trading, DistributedTechnologies, and Chaintecs Consulting Singapore filed a lawsuit in Hong Kong against RedotPay co-founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao, accusing the trio of breaching agreements by diverting more than 470,000 users from Binance Card to RedotPay, and seeking $472.8 million in damages.

According to PR Newswire, AI data center firm Hyperscale Data (GPUS) announced it has completed the sale of approximately 685 Bitcoin, generating around $43 million in proceeds. The funds will be primarily used for the ongoing development and expansion of its Michigan data center, as well as repaying roughly $30 million in debt to optimize its capital structure. The company currently holds approximately 275 Bitcoin.