7*24

Hot topic

Market

Activities

On June 24, Ningquan Asset, founded by Yang Dong, pointed out in its '2026 Half-Year Investment Report' released on the 23rd that China's AI bubble is primarily centered around the theme of AI infrastructure. We have severely underestimated the extent to which this theme can create such a large bubble, as the business models of related manufacturing companies are mostly very ordinary, with almost no long-term moat, while requiring continuous capital expenditure to maintain growth. A huge demand-driven boom has led to such high valuations and market capitalizations, which we indeed did not anticipate. During the 15-year bull market, there was a term called 'mindless buying', and we are currently in a similar state.

[Ningquan Asset: AI Infrastructure Moat is Extremely Low, Market in 'Mindless Buying' State]On June 24, Ningquan Asset, founded by Yang Dong, pointed out in its '2026 Half-Year Investment Report' released on the 23rd that China's AI bubble is primarily centered around the theme of AI infrastructure. We have severely underestimated the extent to which this theme can create such a large bubble, as the business models of related manufacturing companies are mostly very ordinary, with almost no long-term moat, while requiring continuous capital expenditure to maintain growth. A huge demand-driven boom has led to such high valuations and market capitalizations, which we indeed did not anticipate. During the 15-year bull market, there was a term called 'mindless buying', and we are currently in a similar state.

Ningquan Asset: AI Infrastructure Moat is Extremely Low, Market in 'Mindless Buying' State

Serenity posted on the X platform indicating that the private company OpenLight appears to be continuously expanding. If one looks beyond Advantest in the public ecosystem, related targets include JBL and its partner SIVE for expanding photonic integrated circuits, MRVL and MXL for digital signal processors, TSEM for wafer foundry services, and TFC Optical 300394.SZ (Tianfu Communication) for packaging and subcomponent services. If not a qualified investor, one can typically gain exposure to private growth through public stocks, as participants in the optical field are closely interconnected.

[‘White-Haired Stock God’ Serenity: Public Stocks Offer Exposure to Private Optical Company Growth]Serenity posted on the X platform indicating that the private company OpenLight appears to be continuously expanding. If one looks beyond Advantest in the public ecosystem, related targets include JBL and its partner SIVE for expanding photonic integrated circuits, MRVL and MXL for digital signal processors, TSEM for wafer foundry services, and TFC Optical 300394.SZ (Tianfu Communication) for packaging and subcomponent services. If not a qualified investor, one can typically gain exposure to private growth through public stocks, as participants in the optical field are closely interconnected.

‘White-Haired Stock God’ Serenity: Public Stocks Offer Exposure to Private Optical Company Growth

On June 24, on-chain data showed that long-term Bitcoin holders (commonly referred to as 'OGs') who have held their coins for over five years have recently seen their sell-off activity plummet to its lowest level in nearly two years. According to CryptoQuant data, the average amount of Bitcoin sold by this group of veteran investors over the past 90 days has dropped to 962 coins, marking the lowest point since November 2024 and falling below the 1,000-coin threshold for the first time. This change is significant. Since the beginning of this bull market in early 2023, the selling pressure from the OG group has reached an all-time high in Bitcoin's history, with large-scale sell-off peaks occurring in May 2024, February 2025, and September 2025, where daily sell-offs exceeded 142,000 coins, significantly suppressing prices and being considered one of the key reasons why Bitcoin struggled to maintain its upward momentum after breaking the $100,000 mark last year. CryptoQuant analysts noted that the current slowdown in selling is not coincidental—at around $63,000, the price of Bitcoin is close to the breakeven point for the OG group, who likely purchased their coins at higher prices five years ago. Holding rather than selling has become the rational choice, indicating that a major selling pressure that previously suppressed prices is substantially weakening. Meanwhile, the net outflow of spot ETFs has also significantly narrowed over the past two weeks, resonating with the slowdown in OG sell-offs, as multiple contrarian indicators point towards a potential market bottom. As of the time of publication, Bitcoin was priced at approximately $62,776, remaining relatively stable over the past 24 hours.

[Analysis: Bitcoin 'OG' Sell-Off Drops to Near Two-Year Low, Increasing Signals of Market Bottom]On June 24, on-chain data showed that long-term Bitcoin holders (commonly referred to as 'OGs') who have held their coins for over five years have recently seen their sell-off activity plummet to its lowest level in nearly two years. According to CryptoQuant data, the average amount of Bitcoin sold by this group of veteran investors over the past 90 days has dropped to 962 coins, marking the lowest point since November 2024 and falling below the 1,000-coin threshold for the first time. This change is significant. Since the beginning of this bull market in early 2023, the selling pressure from the OG group has reached an all-time high in Bitcoin's history, with large-scale sell-off peaks occurring in May 2024, February 2025, and September 2025, where daily sell-offs exceeded 142,000 coins, significantly suppressing prices and being considered one of the key reasons why Bitcoin struggled to maintain its upward momentum after breaking the $100,000 mark last year. CryptoQuant analysts noted that the current slowdown in selling is not coincidental—at around $63,000, the price of Bitcoin is close to the breakeven point for the OG group, who likely purchased their coins at higher prices five years ago. Holding rather than selling has become the rational choice, indicating that a major selling pressure that previously suppressed prices is substantially weakening. Meanwhile, the net outflow of spot ETFs has also significantly narrowed over the past two weeks, resonating with the slowdown in OG sell-offs, as multiple contrarian indicators point towards a potential market bottom. As of the time of publication, Bitcoin was priced at approximately $62,776, remaining relatively stable over the past 24 hours.

Analysis: Bitcoin 'OG' Sell-Off Drops to Near Two-Year Low, Increasing Signals of Market Bottom

On June 24, according to SEC filings, Roundhill Investments and T-REX jointly launched the Roundhill T-REX 2X Long DRAM Daily Target ETF, trading under the ticker $RAM, which officially began trading today on the Cboe exchange. Key product details: · Underlying: The fund aims to amplify the daily performance of the Roundhill Memory ETF (Cboe: $DRAM) by 200%, providing 2x daily leveraged exposure; · Fees: The total expense ratio of the fund is 1.50% per year, with a net expense ratio of 1.25% per year, and the fee discount arrangement will last until September 30, 2027; · Management style: RAM is an actively managed ETF that rebalances daily; · Options: Currently, options trading is not supported. The fund holds investment exposure exceeding its net assets, utilizing leverage mechanisms. Additionally, DRAM itself was just launched in 2026, and there is currently no historical performance or volatility data available for reference.

[2x Leverage DRAM ETF Launches Today on Cboe, Betting on Global Memory Chip Market]On June 24, according to SEC filings, Roundhill Investments and T-REX jointly launched the Roundhill T-REX 2X Long DRAM Daily Target ETF, trading under the ticker $RAM, which officially began trading today on the Cboe exchange. Key product details: · Underlying: The fund aims to amplify the daily performance of the Roundhill Memory ETF (Cboe: $DRAM) by 200%, providing 2x daily leveraged exposure; · Fees: The total expense ratio of the fund is 1.50% per year, with a net expense ratio of 1.25% per year, and the fee discount arrangement will last until September 30, 2027; · Management style: RAM is an actively managed ETF that rebalances daily; · Options: Currently, options trading is not supported. The fund holds investment exposure exceeding its net assets, utilizing leverage mechanisms. Additionally, DRAM itself was just launched in 2026, and there is currently no historical performance or volatility data available for reference.

2x Leverage DRAM ETF Launches Today on Cboe, Betting on Global Memory Chip Market

On June 24, the Nikkei 225 index closed down 613.41 points, a decrease of 0.88%, ending at 69,174.97 points. The South Korean KOSPI index experienced significant fluctuations during the day, initially surging over 4% in the morning before briefly turning negative with a drop of 1%. In the afternoon, it regained momentum, closing up 303.97 points, an increase of 3.71%, at 8,507.81 points. Samsung Electronics rose nearly 10%, while SK Hynix increased by nearly 1%.

[Divergent Trends in Japanese and South Korean Stock Markets; KOSPI Rises Over 3%]On June 24, the Nikkei 225 index closed down 613.41 points, a decrease of 0.88%, ending at 69,174.97 points. The South Korean KOSPI index experienced significant fluctuations during the day, initially surging over 4% in the morning before briefly turning negative with a drop of 1%. In the afternoon, it regained momentum, closing up 303.97 points, an increase of 3.71%, at 8,507.81 points. Samsung Electronics rose nearly 10%, while SK Hynix increased by nearly 1%.

Divergent Trends in Japanese and South Korean Stock Markets; KOSPI Rises Over 3%

According to monitoring by Beating, the Trump administration is pressuring Meta to submit its artificial intelligence models for a voluntary safety assessment, focusing on detecting security vulnerabilities and technical capabilities. Currently, Meta is the only major US AI company that has not reached a voluntary assessment agreement with the US government. Microsoft, Google, OpenAI, Anthropic, and xAI have all agreed to submit their models for review to the AI Standards and Innovation Center under the US Department of Commerce. Meta spokesperson Francis Brennan confirmed that negotiations on the agreement details are ongoing and expressed hope to sign it soon. The requirement for a safety assessment stems from an executive order signed by Trump on June 2, which mandates that tech companies provide the government with a maximum 30-day assessment period before releasing new models and requires the establishment of a specific review process by the end of July.

[Trump Administration Pressures Meta for Safety Assessment, Only Major US AI Company Yet to Sign Voluntary Review Agreement]According to monitoring by Beating, the Trump administration is pressuring Meta to submit its artificial intelligence models for a voluntary safety assessment, focusing on detecting security vulnerabilities and technical capabilities. Currently, Meta is the only major US AI company that has not reached a voluntary assessment agreement with the US government. Microsoft, Google, OpenAI, Anthropic, and xAI have all agreed to submit their models for review to the AI Standards and Innovation Center under the US Department of Commerce. Meta spokesperson Francis Brennan confirmed that negotiations on the agreement details are ongoing and expressed hope to sign it soon. The requirement for a safety assessment stems from an executive order signed by Trump on June 2, which mandates that tech companies provide the government with a maximum 30-day assessment period before releasing new models and requires the establishment of a specific review process by the end of July.

Trump Administration Pressures Meta for Safety Assessment, Only Major US AI Company Yet to Sign Voluntary Review Agreement

On June 24, Qatar's Prime Minister and Foreign Minister Mohammed stated that the United States and Iran have agreed to establish a direct communication hotline to ensure the safety of shipping during the mine clearance and reopening of the Strait of Hormuz, preventing misinformation from interfering with vessel passage. This mechanism will provide an official verification channel when ships receive threat information, reducing the risk of misjudgment. Mohammed noted that as the situation in the Strait stabilizes, Qatar's liquefied natural gas (LNG) capacity is expected to return to normal operations within the next few weeks, with Qatar Energy having completed the necessary preparations. However, the complete lifting of force majeure status still depends on whether the security conditions in the Strait are met. He stated that shipping volumes in the Strait are expected to return to pre-conflict levels approximately 30 days after the memorandum of understanding takes effect, but rebuilding market confidence will take time. He also warned that the impact of tight supplies of bulk commodities such as fertilizers, urea, petrochemicals, and helium may gradually become apparent between September and October. Mohammed emphasized that there may be forces within Iran and various factions opposed to the agreement, attempting to undermine the process. The current ceasefire and arrangements for the opening of the Strait remain relatively fragile, and the real test has just begun. Additionally, the US and Iran have agreed to extend the ceasefire agreement reached on April 8 for another 60 days and continue advancing negotiations on nuclear issues. The US has also issued a waiver allowing Iran to continue selling oil until August 21 as part of the initial economic incentives to encourage compliance with the agreement.

[Qatar Prime Minister: US and Iran to Establish Direct Hotline to Ensure Safe Reopening of Strait of Hormuz; Qatar's LNG Capacity to Recover in Weeks]On June 24, Qatar's Prime Minister and Foreign Minister Mohammed stated that the United States and Iran have agreed to establish a direct communication hotline to ensure the safety of shipping during the mine clearance and reopening of the Strait of Hormuz, preventing misinformation from interfering with vessel passage. This mechanism will provide an official verification channel when ships receive threat information, reducing the risk of misjudgment. Mohammed noted that as the situation in the Strait stabilizes, Qatar's liquefied natural gas (LNG) capacity is expected to return to normal operations within the next few weeks, with Qatar Energy having completed the necessary preparations. However, the complete lifting of force majeure status still depends on whether the security conditions in the Strait are met. He stated that shipping volumes in the Strait are expected to return to pre-conflict levels approximately 30 days after the memorandum of understanding takes effect, but rebuilding market confidence will take time. He also warned that the impact of tight supplies of bulk commodities such as fertilizers, urea, petrochemicals, and helium may gradually become apparent between September and October. Mohammed emphasized that there may be forces within Iran and various factions opposed to the agreement, attempting to undermine the process. The current ceasefire and arrangements for the opening of the Strait remain relatively fragile, and the real test has just begun. Additionally, the US and Iran have agreed to extend the ceasefire agreement reached on April 8 for another 60 days and continue advancing negotiations on nuclear issues. The US has also issued a waiver allowing Iran to continue selling oil until August 21 as part of the initial economic incentives to encourage compliance with the agreement.

Qatar Prime Minister: US and Iran to Establish Direct Hotline to Ensure Safe Reopening of Strait of Hormuz; Qatar's LNG Capacity to Recover in Weeks

According to monitoring by Dongcha Beating, the 2026.6.10 version update is primarily a minor iterative upgrade, including the addition of a new short dialogue automatic Fast Mode, a more reliable model routing mechanism, enhanced session state security and trust policies, as well as an improved model provider access process, aimed at enhancing overall system stability and response efficiency.

[OpenClaw Releases Version 2026.6.10 Update, Optimizing Model Routing and Session Security Mechanisms]According to monitoring by Dongcha Beating, the 2026.6.10 version update is primarily a minor iterative upgrade, including the addition of a new short dialogue automatic Fast Mode, a more reliable model routing mechanism, enhanced session state security and trust policies, as well as an improved model provider access process, aimed at enhancing overall system stability and response efficiency.

OpenClaw Releases Version 2026.6.10 Update, Optimizing Model Routing and Session Security Mechanisms

On June 24, BIT Official released a daily chart analysis stating that during the sideways movement of Bitcoin, individual stocks in the mining sector have shown an unusual strength against the trend. The divergence in market performance is attributed to a structural transformation in the industry: many Bitcoin mining companies are transitioning to AI data center hosting businesses, holding long-term power purchase agreements, and the value of these stable power resources is continuously increasing for large model enterprises. 

Although these companies still retain a significant amount of Bitcoin-related assets, investors are beginning to evaluate some mining companies based on the valuation logic of AI infrastructure, focusing on their power generation capacity, data center assets, and customer cooperation orders. 

This does not mean that Bitcoin is no longer the core anchor asset in the cryptocurrency market cycle. On the contrary, it indicates that during the sideways phase of Bitcoin's price, market funds are extending their attention to the energy, computing power, and data center infrastructure sectors behind Bitcoin mining.

[BIT Official: Bitcoin Mining Companies Being Repriced According to AI Infrastructure Logic]On June 24, BIT Official released a daily chart analysis stating that during the sideways movement of Bitcoin, individual stocks in the mining sector have shown an unusual strength against the trend. The divergence in market performance is attributed to a structural transformation in the industry: many Bitcoin mining companies are transitioning to AI data center hosting businesses, holding long-term power purchase agreements, and the value of these stable power resources is continuously increasing for large model enterprises. 

Although these companies still retain a significant amount of Bitcoin-related assets, investors are beginning to evaluate some mining companies based on the valuation logic of AI infrastructure, focusing on their power generation capacity, data center assets, and customer cooperation orders. 

This does not mean that Bitcoin is no longer the core anchor asset in the cryptocurrency market cycle. On the contrary, it indicates that during the sideways phase of Bitcoin's price, market funds are extending their attention to the energy, computing power, and data center infrastructure sectors behind Bitcoin mining.

BIT Official: Bitcoin Mining Companies Being Repriced According to AI Infrastructure Logic

火币HTX报道，在岸人民币兑美元6月23日16:30收盘报6.7865，较上一交易日下跌102点。

【在岸人民币兑美元6月23日16:30收盘报6.7865】火币HTX报道，在岸人民币兑美元6月23日16:30收盘报6.7865，较上一交易日下跌102点。

在岸人民币兑美元6月23日16:30收盘报6.7865

Ethereum Advances Glamsterdam Upgrade Ahead of Planned 2026 Launch

Bernstein Report: Agentic AI Will Transform CPU from Supporting Role to Leading Role, Bullish on Hygon Information

Cursor's New 1.5T Model Abandons Kimi Foundation, $60 Billion Stock Swap for Cursor, Musk's First Move Targets Microsoft's GitHub

3B Small Model's Programming Scores Rival Opus 4.5, Mysterious Model Sparks Heated Discussion, Turns Out to be Domestic

Breaking: Google Gemini Co-Head Poached by OpenAI

Ethereum Q1 Report: On-chain Activity Hits Record High, Tokenized Assets Lead the Industry

Intel CEO Liwu Chen's First Podcast Interview: Our Goal is '10x in 5-10 Years', Betting on Advanced Packaging, Glass Substrate, and Synthetic Diamond

Optical Chips: Collective Capacity Expansion

Google's AI Talent Loss: A Stress Test or a Prelude to an 'Obituary'?

Japan's AI Dark Horse Emerges: How a 7B Small Model Challenges Fable and Mythos?

Article

Bank of America Raises Intel (INTC.US) Price Target from $135 to $160

Bank of America Raises Micron Technology Target Price to $1500

在岸人民币兑美元6月23日16:30收盘报6.7865

Descargo de responsabilidad：El contenido anterior no representa las posiciones de HTX.，HTX no ofrece ninguna recomendación de trading.。

Todos los comentarios0Lo más recientePopular

Temas populares