Shein's W shares fell more than 13% intraday amid poor interim results.

The 10-year U.S. Treasury yield rebounded above 5.2% overnight, hitting its highest level since 2007 and weighing broadly on global risk assets. Bitcoin pulled back to around $83,000, while altcoins saw steeper declines. In response, Cloud, chief analyst at Huobi HTX, stated that this pullback is more of a normal retracement following a rally and does not yet mark the start of a trend reversal. Elevated U.S. Treasury yields primarily suppress valuations, with limited impact on overall liquidity; the crypto market’s own capital structure and holding costs remain intact. This current dip appears more like position squaring ahead of key economic data releases. A key risk to watch is the divergence between Bitcoin and altcoins. During periods of marginal liquidity tightening, capital tends to flow toward the most established, high-certainty top assets. Altcoins lack inflows of new capital and carry higher leverage, which amplifies their pullbacks. This divergence is likely to persist ahead of this week’s PCE and non-farm payrolls data releases. If the data comes in below expectations, altcoins will see greater upside flexibility but also higher risks; if the data exceeds expectations, Bitcoin’s relative strength will stand out more. Whether Bitcoin can stabilize at its key support level will be the main signal to determine if this retracement has ended. Note: This article does not constitute investment advice, nor is it an offer, solicitation, or recommendation for any investment product.

Ethereum treasury firm BitMine Chairman Tom Lee stated that Wall Street veteran Jim Bianco has turned bullish on U.S. Treasuries for the first time in six years, following U.S. bond yields climbing to roughly a 20-year high, and views the current level as attractive. Should U.S. bond yields begin to decline, narratives around "peak pain" yields, fiscal deficits, inflation concerns, and the Federal Reserve's hawkish stance may simultaneously soften, which could trigger a rebound in risk assets including stocks and crypto.

According to GMGN market data, Ethereum ecosystem meme coin ZC (Zipcoin) briefly surged past $20 million in market capitalization, rising over 41 times intraday, and is now trading at $17.5 million with a trading volume of $6.6 million. ZC (Zipcoin) draws its narrative from the fictional currency in Ethereum co-founder Vitalik Buterin’s novel *Snowmoon*. Designed as an on-chain currency featuring "anonymous payments, burning for voice, and real-time taxation", it aims to translate the concepts from the novel into real blockchain applications. BlockBeats reminds users that most meme coins lack practical use cases, experience significant price volatility, and caution is needed for investments.

According to GMGN data, Solana-based PAID has plummeted nearly 50% (down 47%) over the past 24 hours. Its current market capitalization stands at $13.6 million, with a 24-hour trading volume of $21.8 million. Paid suspended X Money payments yesterday, and announced today that its dedicated claim portal is now live. Eligible users can receive new fee distributions, with related assets issued in the quote asset corresponding to the fees—most commonly SOL. Additional claiming methods will be rolled out later, including via direct messages or tagging the official account in posts. X Money payments remain suspended for now, with no resumption timeline provided; users’ historical balances will be retained separately, and the team is developing an independent claiming solution for these funds, while aiming to restore X Money payments in the future. BlockBeats reminds users that the relevant token is highly volatile, so caution is required for investments.

Trader Boomer (X: solanadoomer1) exited long positions in ten altcoins this morning—ZEC, NEAR, UNI, HYPE, PUMP, ENA, AERO, ONDO, SKY, and PENGU—totaling over $31.1 million, before shifting to shorting ZEC and NEAR. The exits were mostly loss-closing trades, with total losses of roughly $1.248 million; only PUMP generated small profits. About five minutes after closing his ZEC long position, the account opened a reverse short position. Boomer later posted on X that ZEC may have peaked in the short to medium term, possibly pulling back to around $1000 first, then consolidating for weeks before its next rally. Still, he maintains a long-term target range of $5000 to $10000 for ZEC. The account has moved from holding multiple altcoin longs to short positions worth approximately $9.707 million in ZEC and NEAR: the ZEC short is valued at ~$8.237 million, with 6,000 units at an average price of $1421.4, yielding an unrealized profit of ~$291,000. The NEAR short is worth ~$1.47 million, holding ~322,100 units at an average price of $4.63, with an unrealized profit of ~$24,000.

Union Square Ventures partner Michael Mignano has announced the launch of AI investment platform Supertake. Users only need to state their views in natural language (e.g., "humanoid robots will enter every home"), and the platform will connect to trading agents from brokers including Robinhood and Coinbase to automatically generate and place a rebalancable investment portfolio. Currently, it supports US-listed stocks, with plans to add cryptocurrencies, derivatives, and prediction markets later. The portfolio is shareable, replicable by others, and features a community leaderboard.