Meme coin microduck briefly surged past $28 million in market cap, hitting a new all-time high.

After arriving in Venezuela, US Energy Secretary Wright stated that relevant agreements to be signed in Caracas by U.S. and other international oil companies will drive Venezuela's crude oil production to more than double over the next few years. Venezuela's crude oil output once topped 3 million barrels per day in the late 1990s, but has since fallen sharply due to underinvestment, mismanagement, and U.S. sanctions. In recent months, the country's crude oil production has hovered around 1.1 to 1.2 million barrels per day. Wright said the investments tied to these deals will "significantly boost" available oil supplies, exerting downward pressure on oil prices. He also noted that the biggest bottleneck for current gasoline and diesel prices is refining capacity. Wright added that thanks to the Trump administration's measures to relax refinery regulations, U.S. gasoline prices are expected to decline in the coming weeks. (Jinshi)

According to monitoring by TradingBeats (formerly Hyperinsight), the whale address starting with 0xe2ad, which had pre-placed a ~$60 million BTC buy order plan (previously ~$80 million, adjusted later), saw its first trades hit early this morning. The address has passively accumulated 121.53 BTC, with a trading volume of ~$9.2974 million, an average price of $76,499.5, accounting for ~15.4% of the total plan. As of press time, the address holds a 20x leveraged long position of 121.53 BTC, with a position value of ~$9.386 million, an average cost of $76,499.5, an unrealized profit of ~$89,000, and a return of ~19.1%. It still has 17 non-position-reduction limit orders remaining, planning to buy another 671.04 BTC with a nominal amount of ~$50.88 million. The order prices are concentrated between $75,479 and $76,245, with a weighted average order price of ~$75,821.5, ~1.3% to 2.3% below the current price. If all remaining orders are filled, the address' BTC long position will expand to ~792.58 BTC. Calculated from filled orders and existing orders, the total plan size is ~$60.177 million, with an average cost of ~$75,925.5. Previous news: A nearly $80 million BTC buy order was pre-placed; a new address plans to go long on on-chain perpetuals near $75,000. On-chain perpetual and address analysis tool TradingBeats is now live, supporting real-time Hyperliquid data viewing, tracing whale operations from addresses, and providing in-depth analysis at a glance.

TD Cowen analyst Lance Vitanza has set Bitcoin’s year-end 2026 target price at $97,500, representing roughly 25% upside from its recent level of around $78,000. Meanwhile, TD Cowen cut its prior year-end 2026 base forecast of ~$140,000 to ~$100,000, and significantly lowered its previously more optimistic long-term outlook. Vitanza noted the revision stems primarily from recent Bitcoin price weakness, not a deterioration in company fundamentals or market structure. Currently, BTC trades in a recent range of approximately $58,400 to $78,000, with a maximum drawdown of over 50% from its prior peak above $126,000, and monthly drawdown once exceeded 20%. A clearer regulatory landscape and inclusion in broader indices remain TD Cowen’s identified potential catalysts for market recovery. For Strategy, TD Cowen trimmed its target price from $400 to $260 but retained a "Buy" rating. The adjustment is driven by the downward revision to Bitcoin’s price forecast, not a change in views on Strategy’s operational performance or capital structure. Separately, TD Cowen initiated coverage on Strive, projecting the firm will hold over 27,100 BTC cumulatively by the end of 2026, and assigned a $32 target price, implying roughly 33% upside.

Beating AI Express: Alibaba’s Qwen has upgraded its flagship model Qwen3.8-Max, which was launched just one month ago, to Qwen3.8-Max-0902. The parameter scale remains unchanged at 2.4 trillion parameters with a 1 million-token context window. This upgrade focuses on post-training for coding and collaboration, with a priority on improving programming, complex workflows, and long-horizon agent tasks. In Alibaba’s published comparison table, the 0902 version outperforms the original in all 8 programming benchmarks. Specific improvements include: TerminalBench 3.0 rising from 11.3 to 29.0, DeepSWE 1.1 from 56.6 to 69.3, QwenSWEbench V2 from 55.1 to 70.0, and professional task benchmark JobBench from 53.4 to 64.0. Compared with Claude Opus 5, Qwen3.8-Max-0902 still lags in most programming projects, but surpasses the competitor in three benchmarks: MLS-Bench-Lite, SWE-Atlas QnA, and QwenSWEbench V2. The four multimodal benchmarks only saw gains of 0.4 to 3 points over the original, making it clear that this upgrade’s core focus is enhancing the model’s coding and task execution capabilities for agents. All the above results are currently Alibaba’s internal tests. Qwen3.8-Max-0902 is now available on the QwenCloud API, with pricing unchanged: $2 per 1 million input tokens and $6 per 1 million output tokens.

According to monitoring by TradingBeats (formerly Hyperinsight), the U.S.-Iran conflict has escalated again, with both sides launching mutual attacks, raising risks of supply disruptions in the Strait of Hormuz. WTI crude oil rose 5.2% to $90.22, while Brent crude gained 4.6% to $94.65, hitting near five-week peaks. The WTI and Brent contracts are currently trading at $90.87 and $95.50 respectively, with 24-hour increases of around 4.81% and 4.69%. Amid the rapid rise in oil prices, a major crude oil short position holder (0x0c4a) on Hyperliquid partially stopped losses, closing out 31,461.31 WTI and 50,774.85 Brent short positions. This resulted in losses of approximately $53,900 and $161,200 respectively, with the account recording a single-day drawdown of $1.26 million. As of press time, the position still holds around $16.88 million in combined short positions in both oils: WTI crude oil (20x leverage): short position worth about $6.459 million, average entry price of $88.70, unrealized loss of around $153,400, liquidation price of $97.49; Brent crude oil (20x leverage): short position worth about $10.425 million, average entry price of $91.89, unrealized loss of around $392,300, liquidation price of $101.63.

According to GMGN data, CASHCAT’s market capitalization has hit a new all-time high of $259 million. The token is currently trading at $0.258, with a 24-hour price increase of 18% and a 24-hour trading volume of $49.6 million.