Ansem: Institutional funds are turning bullish on the crypto market, and the current market environment may be conducive to forming a bottom.

According to BIT (bit.com) market data, U.S. stock futures rose in the short session: Nasdaq 100 index futures gained 0.45%, S&P 500 index futures rose 0.43%, and Dow futures increased 0.53%. Bitget data shows the U.S. dollar index dipped in the short term, down 0.64%. Long-term U.S. Treasury yields fell, with the 30-year yield dropping as much as 9 basis points to 5.19%. Spot gold’s gains expanded to 2.86%, trading at $4,457.25 per ounce. Spot silver rose 2.8% to $65.09 per ounce. Earlier, the U.S. Treasury Department announced it will at least double the size of its liquidity support repurchase operations for long-term nominal coupon securities, covering two maturity ranges: 10 to 20 years and 20 to 30 years. Currently, each operation has a maximum size of $2 billion; going forward, each operation will be increased to at least $4 billion. The expansion of the repurchase operation size reflects the Treasury’s goal of providing stronger liquidity support for the long-term nominal U.S. Treasury market. The Treasury will release an updated temporary Treasury repurchase arrangement at a later date.

According to HTX market data, Bitcoin has broken through the $65,000 level, posting a 1.36% gain over the past 24 hours.

The Linux Foundation Decentralized Trust (LFDT) announced that Sign’s code has been merged into Panurus, formerly the Hyperledger Token SDK. The project aims to provide an open, neutral tokenization development framework to help institutions issue and manage digital assets across different chains and systems. As financial institutions and public sector entities accelerate tokenization, other contributors include IBM Research, the Bank of France, and Offchain Labs.

Monitoring data from TradingBeats (formerly Hyperinsight) shows that a whale’s short position of 1,440 BTC, valued at $93.36 million, is facing liquidation. The liquidation price is $65,045.06, which is less than $100 away from the current BTC price.

According to Bitget data, the U.S. Dollar Index (DXY) fell to 99, its first such level since June, with an intraday decline of 0.65%.

Citigroup maintains a "Buy" rating on SK Hynix, setting a target price of 3.1 million South Korean won. The U.S. bank stated that the chipmaker’s enhanced shareholder return plan reflects management’s confidence in medium- and long-term growth, and is expected to provide substantial downside support for its share price. SK Hynix plans to implement a 40 trillion won (approximately $287.7 billion) share repurchase program, covering 24.07 million shares, accounting for about 3.3% of its outstanding capital stock, with 100% of the repurchased shares to be canceled. The program is scheduled to run from August 20 to November 19, and the cancellation will be completed within 1 to 2 weeks after its conclusion. Additionally, the company has adjusted its shareholder return criteria for 2025 to 2027 from the previous "within 50% of cumulative free cash flow (FCF) over three years" to "more than 50%". It also clarified that FCF is calculated as cash flow from operating activities minus capital expenditures, with merger and acquisition (M&A) expenses not deducted from FCF. Citigroup noted that SK Hynix plans to disclose the specific scale and method of its further shareholder return program when announcing third-quarter results in October. Analysts believe that the 40 trillion won repurchase and cancellation plan is expected to form valuation downside support, while raising the shareholder return floor to over 50% of FCF also enhances the certainty of medium- and long-term returns.