According to BlockBeats, on August 5th, CryptoQuant analyst Darkfost reported that Binance's Whale Inflow Ratio has risen to 0.52, a four-month high.

Bitcoin is currently trading in a narrow range between $60,000 and $65,000. Whale activity is significantly more pronounced compared to retail and small traders, with whales sending more BTC to Binance than other participants, increasing selling pressure on Bitcoin.

Historically, spikes in this ratio have occurred at both market tops and bottoms, accompanied by panic and capitulation selling. Given the current low-volatility environment, the indicator is likely to quickly return to normal once this phase passes. It remains to be seen whether this trend will continue.

According to BlockBeats, on August 5th, Blockworks Research/Messari released a new report exposing the brutal odds of altcoin investing. Data shows that of the 1,972 tokens that surpassed a circulating market capitalization of $50 million between 2020 and 2025, only about 4.1% ultimately outperformed Bitcoin. This means that out of every 24 tokens that come to investors' attention, only about 1 can beat a passive BTC holding strategy.

The report, titled "One in Twenty-Four: The Harsh Realities of Liquid Token Investing," uses a sample of all tokens that have ever reached a circulating market capitalization of $50 million. The data sources are CoinGecko and Blockworks Research, and it also includes projects that have been discontinued or delisted.

The report shows that if the entry price is set at the end of the month after the token first reaches a market capitalization of $50 million, and then the token price is observed to have fallen to 10% or less of the entry price, the rate of decline for newly issued tokens in recent years has accelerated significantly. In the 2024 batch, nearly 90% of the tokens had already fallen by more than 90% from their entry price within approximately 30 months; the 2022 and 2023 batches also showed a similar downward trend.

The median returns for token batches in each year are even more dismal. As of June 2026, the median return for the 2020 batch was -94%, outperforming BTC by only 2%; the median returns for the 2021 and 2022 batches were both -99%; 2023 saw a return of -97%; and 2024 a return of -98%. The 2025 batch is currently at -88%, outperforming BTC by 19%, but the report's charts specifically indicate that this batch is still relatively young, and its performance after the full cycle remains to be seen.

It's worth noting that established tokens that entered the market before 2020 have performed relatively well. The report's charts show that this group of "survivors" has a median return of approximately -58% since entering the market, outperforming BTC by 12%, significantly better than most new token batches after 2020.

The few winners are also highly concentrated. The report's charts show that among the 22 tokens with at least 24 months of history that outperformed BTC, centralized exchange platform tokens accounted for 32%; while in the corresponding sample of 1,305 tokens, platform tokens accounted for only 2%.

According to BlockBeats, on August 5th, global markets continued the strong performance of risk assets. However, what truly drove the flow of funds was no longer simply corporate earnings reports or AI-related themes, but rather the market's reassessment of institutional credibility and policy implementation capabilities following the simultaneous intervention of governments in energy, exchange rates, supply chains, and monetary policies.

AI capital expenditure remains the most important growth engine for the market. Anthropic's $10 billion computing services agreement with Volta Infra, coupled with Samsung's launch of the new generation V10 V-NAND, significantly increasing storage density, further demonstrates that AI infrastructure is still in a phase of rapid expansion. Market funds continue to be willing to pay a premium for computing power, storage, and the semiconductor supply chain, indicating that companies are still willing to bear higher capital costs in exchange for future competitive advantages. However, Federal Reserve officials have simultaneously released more hawkish signals, believing that current interest rates are still insufficient to effectively suppress inflation, creating a situation where AI investment coexists with a high-interest-rate environment. In the future, the market will pay more attention to whether companies have sufficient cash flow and profitability to support massive capital expenditures, rather than relying solely on valuation expansion to drive stock price increases.

Another noteworthy development comes from the energy market. Substantial progress has been made in the Strait of Hormuz negotiations, with the US-Iran agreement gradually taking shape. Discussions have even begun regarding European involvement in mine clearance and the establishment of a joint maintenance mechanism, indicating that the parties have gradually moved from military confrontation to a negotiation phase on shipping order and energy governance. If the strait resumes normal navigation in the future, even with increased maintenance costs, the cost will be far lower than the supply risks posed by war, and the risk premium in the energy market is expected to continue to decline. Meanwhile, the US government's consideration of extending the Jones Act exemption to further utilize administrative tools to lower domestic energy costs reflects that energy prices are no longer just an economic issue, but also directly affect political approval ratings and policy stability.

Furthermore, while the Bank of Japan has not yet intervened in the foreign exchange market, US Treasury Secretary Bessant has publicly stated that necessary measures will be taken to support the yen, indicating that exchange rates are gradually becoming part of policy tools rather than being entirely determined by the market. On the other hand, the US's continued study of expanding the scope of metal tariffs also suggests that supply chain protection policies will continue, and global manufacturing costs and inflationary pressures are unlikely to completely subside in the short term.

While Michael Burry has again warned of a potential repeat of the 1987 crash, his view is more grounded in structural risks stemming from market leverage and volatility compression, rather than a deterioration in fundamentals. It's noteworthy that the VIX rose in tandem with record highs in US stocks, indicating that the market hasn't completely ignored potential risks but is instead using options hedging and leveraged trading to drive asset price increases. This structure suggests that as long as AI capital expenditures, corporate profits, and policy credibility remain sustainable, the market still has an upside potential. However, if inflation rebounds, the Federal Reserve further tightens policy, or the Holmos negotiations stall again, highly valued tech stocks and high-leverage strategies will become the main sources of renewed volatility.

In the short term, market focus will be on whether the Strait of Hormuz agreement will be formally implemented, the latest statements from Federal Reserve officials regarding the interest rate path, and whether investment in AI infrastructure will continue to accelerate. These three main themes will jointly determine the new balance between global capital costs, energy prices, and technology valuations, and will also become the core basis for future risk asset pricing.

According to BlockBeats , on August 5th, the largest pending order before SanDisk's earnings report came from a storage smart money account, 0x0ad, which had already completed profit-taking and liquidated its positions.

Last night, the address took profit on 3890.8 units of SNDK at an average price of approximately $1390, with a trading volume of approximately $5.408 million, realizing a profit of approximately $401,000, capturing approximately 8% of the SNDK price increase in this round.

The address subsequently placed two new buy orders at $1187 and $1300, planning to buy back 5952.3 units of SNDK, with a notional amount of approximately $7.5 million and a weighted average order price of approximately $1260. The order range is 9.9% to 17.8% lower than the current price.

If all orders are filled, the number of positions in the next round will increase by about 53% compared to the previous round, and the planned investment amount will also be 38.7% higher than the transaction amount of this round of closing, so as to restart a larger long position at a lower cost.

Completed transaction records show that since becoming highly active on June 25th, this address has profited from all 11 major trades in MU and SNDK, accumulating a net profit of approximately $2.83 million. Across all records, it achieved 14 wins out of 16 trades in MU and SNDK, a win rate of 87.5%, accumulating a net profit of approximately $5.634 million; in SNDK alone, it achieved 8 wins out of 9 trades, with its only loss being less than $1,000.

Additional data: SNDK is currently trading at $1443.6, up approximately 9.7% in the last 24 hours, with a trading volume of approximately $432 million and open interest of approximately $138 million. The hourly funding rate turned positive this afternoon and is currently around +0.0006%. SanDisk will release its earnings report and hold a conference call early tomorrow morning Beijing time.

According to BlockBeats, on August 5th, data from BIT (Bit.com) showed that the US storage sector declined in pre-market trading, with SK Hynix falling by 3.5% and Micron Technology dropping by 2%.

According to BlockBeats, on August 5th, OKX Flash Earn Lite will launch RE (Re Protocol) for "staking and earning" from 15:00 on August 11th to 15:00 on August 17th, 2026 (UTC+8). During the event, users can participate in the subscription by locking BTC, RLUSD, OKB, or RE to share a 700,000 RE airdrop reward.

In addition, users can participate in the subscription in advance starting today, and the rewards will be calculated from the official start of the event. Users can view and participate in related activities through the "Earn Now" entry at the top of the OKX App's Explore page.

According to BlockBeats , on August 5th, a new address starting with 0xff84 went all-in with 40x leverage to short 1600 BTC, with an average entry price of $64,202.4 and a position value of approximately $102 million.

The address has now placed eight "stop-loss only" market buy orders, each planning to buy back 200 BTC, covering all short positions. Its latest operation increased the initial stop-loss amount from 100 BTC to 200 BTC, with the trigger price set at $64,868, corresponding to a notional amount of approximately $12.974 million.

It's worth noting that the initial stop-loss price is only $23.5 lower than the current liquidation price of $64,891.5, a difference of less than 0.04%. If BTC continues to rise, this address plans to close out 12.5% of its position before the liquidation line, with subsequent stop-loss trigger prices gradually moving upwards, reaching a maximum of $67,023.

As of press time, BTC is currently trading at approximately $64,202, and the short position is nearing break-even; the account equity is approximately $2.401 million, with an additional 2.47 million USDC in spot trading.

On-chain traceability shows that the account exhibits clear characteristics of a temporary segregated transaction address. Currently, all visible funds originate directly from the OKX hot wallet, and no other self-custodial addresses confirmed to be controlled by the same entity have been found.

This morning, the address received approximately 2.4436 million USDT0 and 0.9995 ETH from two OKX hot wallets, subsequently completed the exchange, and deposited approximately 2.4415 million USDC into Hyperliquid in two separate transactions. After the deposit was completed, it quickly established the aforementioned 40x BTC short position and covered the entire position with eight stop-loss orders.

According to BlockBeats, on August 5th, data from BIT (Bit.com) showed that SpaceX (SPCX.O) shares fell more than 10% in pre-market trading due to concerns over its surging AI spending.

According to BlockBeats, on August 5th, JPMorgan Chase raised its target price for SpaceX from $225 to $240.

According to BlockBeats, on August 5th, data from the prediction market platform Predict.fun showed that Predict has launched a prediction market for "Will the Shanghai Composite Index (SSE Composite Index) rise or fall on August 6th, 2026?". As of press time, the market has given the SSE Composite Index a 50% probability of closing higher. It is worth noting that the expectations of both rising and falling stocks are currently close to equilibrium, and there is still considerable divergence in market opinions.