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On July 6, according to 21st Century Business Herald, AI servers are increasingly power-hungry, pushing data centers to the brink of a power supply transformation. The 800V high-voltage direct current was originally seen by NVIDIA as a key piece for the next generation of AI data centers, but it has recently fallen into controversy over 'delayed mass production': Are cloud providers unwilling to pay, or is there a misjudgment of the pace from the outside? According to core energy ecosystem partners like Delta and ABB, the 800V solution is still progressing normally. However, the speed of this power supply revolution may not be determined solely by NVIDIA, but rather by an entire energy infrastructure supply chain that is still maturing. Morgan Stanley stated that NVIDIA has clearly indicated at the GTC Taipei conference that the development of 800VDC is on track, with supporting power racks expected to be ready for mass production by the third quarter of 2026. Additionally, core supplier Delta Electronics is also expected to deliver initial small batches of 800V independent power cabinets to leading cloud providers in North America by the fourth quarter of 2026.

[NVIDIA's Core Energy Ecosystem Partner: '800V is Progressing Normally']On July 6, according to 21st Century Business Herald, AI servers are increasingly power-hungry, pushing data centers to the brink of a power supply transformation. The 800V high-voltage direct current was originally seen by NVIDIA as a key piece for the next generation of AI data centers, but it has recently fallen into controversy over 'delayed mass production': Are cloud providers unwilling to pay, or is there a misjudgment of the pace from the outside? According to core energy ecosystem partners like Delta and ABB, the 800V solution is still progressing normally. However, the speed of this power supply revolution may not be determined solely by NVIDIA, but rather by an entire energy infrastructure supply chain that is still maturing. Morgan Stanley stated that NVIDIA has clearly indicated at the GTC Taipei conference that the development of 800VDC is on track, with supporting power racks expected to be ready for mass production by the third quarter of 2026. Additionally, core supplier Delta Electronics is also expected to deliver initial small batches of 800V independent power cabinets to leading cloud providers in North America by the fourth quarter of 2026.

NVIDIA's Core Energy Ecosystem Partner: '800V is Progressing Normally'

On July 6, according to data from CryptoQuant, Bitcoin has fallen approximately 28% year-to-date, with its 365-day rolling Sharpe Ratio dropping to around -21, the lowest level since the end of 2022, and currently still close to -20. The Sharpe Ratio is used to measure the risk-adjusted performance of an asset. A negative value indicates that investors are taking on higher volatility risk, but the actual returns are lower than those of risk-free assets, such as 10-year U.S. Treasury bonds. In the context of the current yield of about 4.45% on U.S. Treasuries, this metric reflects a significant deterioration in Bitcoin's risk-reward performance over the past year. However, CryptoQuant points out that historically, when the Sharpe Ratio falls to such extreme negative values, it often indicates that market selling pressure is nearing exhaustion. Similar levels were observed near the bottoms of bear markets in 2015, 2019, and 2022, all of which were followed by Bitcoin entering a new upward cycle.

[Analysis: Bitcoin's 365-Day Sharpe Ratio Falls to Lowest Since 2022, Historically Corresponding to Bear Market Bottoms]On July 6, according to data from CryptoQuant, Bitcoin has fallen approximately 28% year-to-date, with its 365-day rolling Sharpe Ratio dropping to around -21, the lowest level since the end of 2022, and currently still close to -20. The Sharpe Ratio is used to measure the risk-adjusted performance of an asset. A negative value indicates that investors are taking on higher volatility risk, but the actual returns are lower than those of risk-free assets, such as 10-year U.S. Treasury bonds. In the context of the current yield of about 4.45% on U.S. Treasuries, this metric reflects a significant deterioration in Bitcoin's risk-reward performance over the past year. However, CryptoQuant points out that historically, when the Sharpe Ratio falls to such extreme negative values, it often indicates that market selling pressure is nearing exhaustion. Similar levels were observed near the bottoms of bear markets in 2015, 2019, and 2022, all of which were followed by Bitcoin entering a new upward cycle.

Analysis: Bitcoin's 365-Day Sharpe Ratio Falls to Lowest Since 2022, Historically Corresponding to Bear Market Bottoms

On July 6, according to market news, SK Hynix expects net proceeds of approximately $28 billion from its upcoming US IPO, planning to use the IPO net proceeds for capital expenditures and extreme ultraviolet lithography scanners.

[SK Hynix Anticipates Net Proceeds of Approximately $28 Billion from US IPO]On July 6, according to market news, SK Hynix expects net proceeds of approximately $28 billion from its upcoming US IPO, planning to use the IPO net proceeds for capital expenditures and extreme ultraviolet lithography scanners.

SK Hynix Anticipates Net Proceeds of Approximately $28 Billion from US IPO

On July 6, according to CryptoQuant data, Bitcoin has accumulated a decline of approximately 28% this year, with its 365-day rolling Sharpe Ratio dropping to around -21, the lowest level since the end of 2022, and currently still close to -20. The Sharpe Ratio is used to measure the risk-adjusted return of an asset. A negative value indicates that investors are taking on higher volatility risk but are receiving returns lower than risk-free assets (such as 10-year U.S. Treasury bonds). In the context of the current yield of about 4.45% on U.S. Treasuries, this metric reflects a significant deterioration in Bitcoin's risk-return performance over the past year. However, CryptoQuant points out that historically, when the Sharpe Ratio falls to such extreme negative values, it often signifies that market selling pressure is nearing exhaustion. Similar levels were observed around the bear market bottoms in 2015, 2019, and 2022, each followed by a new upward cycle for Bitcoin.

[Analysis: Bitcoin's 365-Day Sharpe Ratio Falls to Lowest Level Since 2022, Historically Corresponding to Bear Market Bottoms]On July 6, according to CryptoQuant data, Bitcoin has accumulated a decline of approximately 28% this year, with its 365-day rolling Sharpe Ratio dropping to around -21, the lowest level since the end of 2022, and currently still close to -20. The Sharpe Ratio is used to measure the risk-adjusted return of an asset. A negative value indicates that investors are taking on higher volatility risk but are receiving returns lower than risk-free assets (such as 10-year U.S. Treasury bonds). In the context of the current yield of about 4.45% on U.S. Treasuries, this metric reflects a significant deterioration in Bitcoin's risk-return performance over the past year. However, CryptoQuant points out that historically, when the Sharpe Ratio falls to such extreme negative values, it often signifies that market selling pressure is nearing exhaustion. Similar levels were observed around the bear market bottoms in 2015, 2019, and 2022, each followed by a new upward cycle for Bitcoin.

Analysis: Bitcoin's 365-Day Sharpe Ratio Falls to Lowest Level Since 2022, Historically Corresponding to Bear Market Bottoms

On July 6, China Merchants Securities announced that it has recently received approval from the China Securities Regulatory Commission regarding the public issuance of corporate bonds to professional investors. The approval allows the company to issue bonds with a total face value not exceeding 70 billion yuan. This issuance must be conducted strictly in accordance with the prospectus submitted to the Shanghai Stock Exchange, and the approval is valid for 24 months from the date of registration. The company may issue the bonds in installments within this validity period.

[China Merchants Securities Approved for Public Issuance of Up to 70 Billion Yuan in Corporate Bonds]On July 6, China Merchants Securities announced that it has recently received approval from the China Securities Regulatory Commission regarding the public issuance of corporate bonds to professional investors. The approval allows the company to issue bonds with a total face value not exceeding 70 billion yuan. This issuance must be conducted strictly in accordance with the prospectus submitted to the Shanghai Stock Exchange, and the approval is valid for 24 months from the date of registration. The company may issue the bonds in installments within this validity period.

China Merchants Securities Approved for Public Issuance of Up to 70 Billion Yuan in Corporate Bonds

On July 6, on-chain detective ZachXBT stated that in the past week, several individuals unauthorizedly issued Meme coins using his likeness on multiple public blockchains to capitalize on market trends. He emphasized that he has never promoted or issued any Meme coins and has consistently stated that he would not support or launch such projects. ZachXBT mentioned that all related tokens sent to his donation wallet have been sold in the market, with approximately $41,000 donated through The Giving Block to GiveDirectly and Direct Relief to support earthquake relief efforts in Venezuela. This includes a donation of 25,000 USDT to GiveDirectly and 5,000 USDT to Direct Relief on July 6, as well as a previous donation of 153 SOL (approximately $11,000).

[ZachXBT: Never Issued or Promoted Any Meme Coins, $41,000 in Related Token Profits Donated to Charity]On July 6, on-chain detective ZachXBT stated that in the past week, several individuals unauthorizedly issued Meme coins using his likeness on multiple public blockchains to capitalize on market trends. He emphasized that he has never promoted or issued any Meme coins and has consistently stated that he would not support or launch such projects. ZachXBT mentioned that all related tokens sent to his donation wallet have been sold in the market, with approximately $41,000 donated through The Giving Block to GiveDirectly and Direct Relief to support earthquake relief efforts in Venezuela. This includes a donation of 25,000 USDT to GiveDirectly and 5,000 USDT to Direct Relief on July 6, as well as a previous donation of 153 SOL (approximately $11,000).

ZachXBT: Never Issued or Promoted Any Meme Coins, $41,000 in Related Token Profits Donated to Charity

SK Hynix expects the net proceeds from its upcoming US IPO to be approximately $28 billion. (Jinshi)

[SK Hynix Anticipates Net Proceeds of Approximately $28 Billion from US IPO]SK Hynix expects the net proceeds from its upcoming US IPO to be approximately $28 billion. (Jinshi)

On July 6, F-1 filings revealed that SK Hynix has issued 17.79 million common shares and 7.9 million American Depositary Shares.

[SK Hynix Issues 17.79 Million Common Shares and 7.9 Million American Depositary Shares]On July 6, F-1 filings revealed that SK Hynix has issued 17.79 million common shares and 7.9 million American Depositary Shares.

SK Hynix Issues 17.79 Million Common Shares and 7.9 Million American Depositary Shares

On July 6, Maersk's shares fell by 8%, set to mark the largest decline since May.

[Maersk Shares Drop 8%, Poised for Largest Decline Since May]On July 6, Maersk's shares fell by 8%, set to mark the largest decline since May.

Maersk Shares Drop 8%, Poised for Largest Decline Since May

SK Hynix: Baillie Gifford Overseas Limited, funds managed by Coatue Management, and Situational Awareness Partners LP have expressed interest in purchasing up to $7 billion in ADRs. (Jin Ten)

[SK Hynix: Baillie Gifford and Other Funds Express Interest in Purchasing Up to $7 Billion in ADRs]SK Hynix: Baillie Gifford Overseas Limited, funds managed by Coatue Management, and Situational Awareness Partners LP have expressed interest in purchasing up to $7 billion in ADRs. (Jin Ten)

SK Hynix: Baillie Gifford and Other Funds Express Interest in Purchasing Up to $7 Billion in ADRs

US CFTC Launches Broad Investigation into Polymarket, Is the Prediction Market Party Coming to an End?

How Collector Crypt Uses 'Recirculating Buybacks' to Create an Illusion of Growth

Is OUSD's 'List of Over a Hundred Companies' Actually Just an 'Expression of Interest'? Name-Borrowing Marketing Sparks Trust Crisis

‘Let’s finish the job’ – Senator Cynthia Lummis pushes CLARITY Act despite delay

Crypto Welcomes the 'July Rebound'? On-Chain Bottom Signals Align, Reversal Still Requires Breakthrough Above $70k

Cathie Wood's June $77M Investment: Are Crypto Stocks a True 'Substitute' for Bitcoin?

AI Folding: Fable 5 and GPT-5.6 Are Becoming the Privilege of a Few

Bitcoin miner stress returns to historic lows – Is a BTC recovery near?

SK Hynix: Baillie Gifford and Other Funds Express Interest in Purchasing Up to $7 Billion in ADRs

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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