Analysis: Bitcoin's next key support level is $88,500, with structural selling pressure dominating the market

According to monitoring by Onchain Lens, a whale opened a long position of 200.8 Bitcoin on Hyperliquid roughly an hour ago, valued at approximately $12.75 million at the time, with a leverage ratio of 40x and a liquidation price of $55,380. The trader has accumulated a profit of $1.95 million over the past 30 days.

According to Bitget's market data, Japanese chip-related stocks have surged sharply: Kioxia's share price rose 6.9%, SoftBank gained 6.2%, and Advantest climbed 6.5%.

Mitsuhiro Furusawa, a former senior Japanese foreign exchange diplomat and ex-deputy managing director of the International Monetary Fund (IMF), stated that at current exchange rate levels, the yen is clearly too weak and is damaging Japan’s economy by pushing up import costs. He noted that if the yen returns to its level before last month’s coordinated intervention, Japan and the U.S. could conduct another joint foreign exchange market intervention at any time, with no fixed target level such as 160 or 162 yen. Furusawa added that intervention only buys time, and a more fundamental solution is for the Bank of Japan (BOJ) to accelerate its pace of interest rate hikes. He forecasts the BOJ will raise interest rates in September, followed by another hike in December or January next year. He estimates the BOJ ultimately aims to lift rates to around 1.5% to 1.75%, a projection based on his estimate of the neutral interest rate, which ranges from 1.1% to 2.5%. If the economy maintains its growth momentum, further rate hikes could be possible in the fiscal year starting April 2027. (Jinshi)

According to Bitget market data, South Korean stocks opened, with the KOSPI index rising 2.68%, Samsung Electronics gaining 2%, and SK Hynix jumping 6%.

According to a post by SolanaFloor, Forward Industries has resumed purchasing SOL. As the largest Solana treasury holder, the company added 254,000 SOL at an average price of $75 between July and August 3, pushing its total SOL holdings above 7.8 million.

On the evening of August 13 local time, U.S. Treasury Secretary Bessent stated that the United States will implement "unprecedented" measures against Iran. In an interview, Bessent noted, "This will combine unprecedented economic isolation measures with the ongoing blockade of the Strait of Hormuz, cutting off all access to and from Iran's ports—please stay tuned for more announcements to be released next week." (Jin10)