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Market data shows that BTC has broken through $64,000, currently trading at $64,003.81, with a 24-hour increase of 0.82%. The market is experiencing significant volatility; please exercise risk control.

[BTC Breaks Through $64,000]Market data shows that BTC has broken through $64,000, currently trading at $64,003.81, with a 24-hour increase of 0.82%. The market is experiencing significant volatility; please exercise risk control.

BTC Breaks Through $64,000

July 29 – SK Hynix’s American Depositary Receipt (ADR, ticker: SKHY) listed on the Nasdaq has activated the conversion mechanism with its Korean domestic shares. Starting today, investors can convert US ADRs into Korean shares or vice versa (subject to certain regulatory restrictions), offering global investors more flexible cross-border trading convenience. This move further enhances the global liquidity of SK Hynix’s stock, following the company’s completion of an approximately $26.5 billion ADR issuance and listing in early July. Each ADR represents one-tenth of a Korean share, and the US-listed shares continue to trade at a premium. It is important to note that actual conversions cannot be completed on the same day; they require processing through the depositary bank (Citibank), foreign exchange declaration, administrative procedures, and typically take a few business days. Applications are mainly submitted by brokers to KSD/depositary bank, but trade execution and arbitrage effects are influenced by Korean stock/US stock trading hours (Korean stocks trade during the day, US stocks at night).

[SK Hynix US ADR Officially Interchangeable with Korean Shares from Today]July 29 – SK Hynix’s American Depositary Receipt (ADR, ticker: SKHY) listed on the Nasdaq has activated the conversion mechanism with its Korean domestic shares. Starting today, investors can convert US ADRs into Korean shares or vice versa (subject to certain regulatory restrictions), offering global investors more flexible cross-border trading convenience. This move further enhances the global liquidity of SK Hynix’s stock, following the company’s completion of an approximately $26.5 billion ADR issuance and listing in early July. Each ADR represents one-tenth of a Korean share, and the US-listed shares continue to trade at a premium. It is important to note that actual conversions cannot be completed on the same day; they require processing through the depositary bank (Citibank), foreign exchange declaration, administrative procedures, and typically take a few business days. Applications are mainly submitted by brokers to KSD/depositary bank, but trade execution and arbitrage effects are influenced by Korean stock/US stock trading hours (Korean stocks trade during the day, US stocks at night).

SK Hynix US ADR Officially Interchangeable with Korean Shares from Today

On July 29, according to South Korean media reports, the South Korean stock market experienced a sharp decline for two consecutive days. On July 28, despite massive foreign investor sell-offs, South Korean retail investors bucked the trend by net buying over 4.3 trillion won to bottom-fish. However, on July 29, the market decline further widened, and retail investors turned to panic selling, with net selling of 1.42 trillion won in the morning, indicating that the previously absorbed funds had begun to stop losses and exit. As of the morning of July 29 local time, the KOSPI had fallen by over 12% at one point, and the KOSDAQ by over 8%, both triggering circuit breakers for the first time in history. Samsung Electronics and SK Hynix suffered heavy losses for two consecutive days, with a combined market cap evaporation of approximately 530 trillion won, of which Samsung Electronics shrank by 257 trillion won and SK Hynix by 273 trillion won. Citigroup estimates that the cumulative losses of leveraged ETFs held by South Korean retail investors amount to approximately $38.7 billion (about 56.3 trillion won). At the same time, the margin balance of South Korean investors has decreased by more than 30 trillion won from its peak, while the net purchase of U.S. stocks by South Korean investors in July surged about 5.7 times month-on-month, indicating that funds are accelerating out of Korean stocks and shifting to overseas markets.

[South Korean Retail Investors Lose 530 Trillion Won After Failed Bottom-Fishing]On July 29, according to South Korean media reports, the South Korean stock market experienced a sharp decline for two consecutive days. On July 28, despite massive foreign investor sell-offs, South Korean retail investors bucked the trend by net buying over 4.3 trillion won to bottom-fish. However, on July 29, the market decline further widened, and retail investors turned to panic selling, with net selling of 1.42 trillion won in the morning, indicating that the previously absorbed funds had begun to stop losses and exit. As of the morning of July 29 local time, the KOSPI had fallen by over 12% at one point, and the KOSDAQ by over 8%, both triggering circuit breakers for the first time in history. Samsung Electronics and SK Hynix suffered heavy losses for two consecutive days, with a combined market cap evaporation of approximately 530 trillion won, of which Samsung Electronics shrank by 257 trillion won and SK Hynix by 273 trillion won. Citigroup estimates that the cumulative losses of leveraged ETFs held by South Korean retail investors amount to approximately $38.7 billion (about 56.3 trillion won). At the same time, the margin balance of South Korean investors has decreased by more than 30 trillion won from its peak, while the net purchase of U.S. stocks by South Korean investors in July surged about 5.7 times month-on-month, indicating that funds are accelerating out of Korean stocks and shifting to overseas markets.

South Korean Retail Investors Lose 530 Trillion Won After Failed Bottom-Fishing

According to monitoring by Beating, OpenAI has reset the usage quota for ChatGPT Work and Codex users. The previously paused 5-hour usage limit will also resume tomorrow. Many users have noticed that the GPT-5.6 Sol consumes quota faster than expected. The reason is not a reduction in subscription quota, but rather that the model is more willing to work for longer periods and will also invoke more tools and sub-agents. Especially when waiting for tool execution while continuing to process other tasks, Sol generates more tool calls, responses, and cached tokens. As a result, complex tasks and extensive web searches can quickly deplete the quota. OpenAI has optimized the related mechanisms, and under normal usage, the quota is expected to last approximately 18% longer.

[OpenAI Resets Codex Quota, 5-Hour Limit to Resume Tomorrow]According to monitoring by Beating, OpenAI has reset the usage quota for ChatGPT Work and Codex users. The previously paused 5-hour usage limit will also resume tomorrow. Many users have noticed that the GPT-5.6 Sol consumes quota faster than expected. The reason is not a reduction in subscription quota, but rather that the model is more willing to work for longer periods and will also invoke more tools and sub-agents. Especially when waiting for tool execution while continuing to process other tasks, Sol generates more tool calls, responses, and cached tokens. As a result, complex tasks and extensive web searches can quickly deplete the quota. OpenAI has optimized the related mechanisms, and under normal usage, the quota is expected to last approximately 18% longer.

OpenAI Resets Codex Quota, 5-Hour Limit to Resume Tomorrow

On July 29, the South Korean stock market weakened, and Southern Double Long Hynix (07709.HK) also saw a significant decline. By the close of the Hong Kong stock market at noon, the product had dropped by 25.72% today, bringing its decline since July to 81.05%. Data shows that the latest asset size of this product is HKD 31.92 billion, a decrease of 70% compared to its peak size. Another leveraged product under Southern Dongying, linked to South Korean chip stocks, also experienced a sharp drop: by the noon close of the Hong Kong stock market, Southern Double Long Samsung Electronics (07747.HK) fell by 16.56% today, with a monthly decline of 69.55%.

[Southern Double Long Hynix Drops Over 80% Since July, Plummets Nearly 26% Today]On July 29, the South Korean stock market weakened, and Southern Double Long Hynix (07709.HK) also saw a significant decline. By the close of the Hong Kong stock market at noon, the product had dropped by 25.72% today, bringing its decline since July to 81.05%. Data shows that the latest asset size of this product is HKD 31.92 billion, a decrease of 70% compared to its peak size. Another leveraged product under Southern Dongying, linked to South Korean chip stocks, also experienced a sharp drop: by the noon close of the Hong Kong stock market, Southern Double Long Samsung Electronics (07747.HK) fell by 16.56% today, with a monthly decline of 69.55%.

Southern Double Long Hynix Drops Over 80% Since July, Plummets Nearly 26% Today

On July 29, South Korean media reported that the recent significant correction in the Korean stock market has caused investor sentiment to shift from the previous fear of missing out (FOMO) to a sense of relief for not having invested (JOMO, Joy of Missing Out). The KOSPI index dropped over 12% at one point today, with SK Hynix falling more than 17%, marking its largest single-day decline, and Samsung Electronics dropping over 13%. This decline was influenced by the weakening of the U.S. semiconductor sector, the listing of Chinese memory chip manufacturer CXMT, and SK Hynix's disappointing earnings report. Meanwhile, the liquidity in the Korean stock market continues to cool. As of July 24, the balance of investor margin accounts has decreased by approximately 31 trillion won from the peak in June, and the balance of margin trading has decreased by about 6 trillion won from its high, reflecting the ongoing withdrawal of leveraged funds from the market.

[Korean Stock Market Plunge Triggers 'JOMO' Sentiment: Investors Shift from Fear of Missing Out to Relief of Not Investing]On July 29, South Korean media reported that the recent significant correction in the Korean stock market has caused investor sentiment to shift from the previous fear of missing out (FOMO) to a sense of relief for not having invested (JOMO, Joy of Missing Out). The KOSPI index dropped over 12% at one point today, with SK Hynix falling more than 17%, marking its largest single-day decline, and Samsung Electronics dropping over 13%. This decline was influenced by the weakening of the U.S. semiconductor sector, the listing of Chinese memory chip manufacturer CXMT, and SK Hynix's disappointing earnings report. Meanwhile, the liquidity in the Korean stock market continues to cool. As of July 24, the balance of investor margin accounts has decreased by approximately 31 trillion won from the peak in June, and the balance of margin trading has decreased by about 6 trillion won from its high, reflecting the ongoing withdrawal of leveraged funds from the market.

Korean Stock Market Plunge Triggers 'JOMO' Sentiment: Investors Shift from Fear of Missing Out to Relief of Not Investing

On Wednesday, July 29, Korean retail investors faced forced liquidation of approximately 1.7 trillion won (about $1.2 billion) in holdings. South Korea's KOSPI index once fell over 12%, and SK Hynix dropped more than 17%, setting a record for the largest single-day decline. 'There have been many forced liquidation cases today,' said Jung In Yun, global CEO of Fibonacci Asset Management. 'We need to wait until the selling sentiment among retail investors eases before taking action.'

[Korean Retail Investors Forced to Liquidate 1.7 Trillion Won; Institutions Wait for Calm]On Wednesday, July 29, Korean retail investors faced forced liquidation of approximately 1.7 trillion won (about $1.2 billion) in holdings. South Korea's KOSPI index once fell over 12%, and SK Hynix dropped more than 17%, setting a record for the largest single-day decline. 'There have been many forced liquidation cases today,' said Jung In Yun, global CEO of Fibonacci Asset Management. 'We need to wait until the selling sentiment among retail investors eases before taking action.'

Korean Retail Investors Forced to Liquidate 1.7 Trillion Won; Institutions Wait for Calm

On July 29, according to public market data, "Big Short" Michael Burry began shorting NVDA at approximately $198.09, AMAT at approximately $729.40, and SOXX at approximately $642.80 on June 30; he initiated a direct short on Micron at approximately $1,051.87 in early July; and around July 24, he added to his shorts in Micron, Nvidia, and SOXX. As of the close of U.S. stocks on July 28, the floating gains on shorts were: AMAT approximately 34.7%, SOXX approximately 23.3%, Micron Technology approximately 22.0%, and Nvidia approximately 0.5%. Without considering position weights, the simple average floating gain for the short portfolio established from late June to early July was approximately 20.1%. Additionally, if the added short positions are approximately calculated based on the closing price on July 24, as of the close on July 28, the floating gains on the added shorts for Micron Technology, Nvidia, and SOXX were approximately 10.9%, 4.8%, and 6.4%, respectively, with a simple average of approximately 7.4%. Due to the current lack of information on specific short sizes, option structures, add ratios, and whether positions have been closed, actual profit amounts cannot be calculated.

["Big Short" Michael Burry Shorts Semiconductors, Gains Up to ~34.7%]On July 29, according to public market data, "Big Short" Michael Burry began shorting NVDA at approximately $198.09, AMAT at approximately $729.40, and SOXX at approximately $642.80 on June 30; he initiated a direct short on Micron at approximately $1,051.87 in early July; and around July 24, he added to his shorts in Micron, Nvidia, and SOXX. As of the close of U.S. stocks on July 28, the floating gains on shorts were: AMAT approximately 34.7%, SOXX approximately 23.3%, Micron Technology approximately 22.0%, and Nvidia approximately 0.5%. Without considering position weights, the simple average floating gain for the short portfolio established from late June to early July was approximately 20.1%. Additionally, if the added short positions are approximately calculated based on the closing price on July 24, as of the close on July 28, the floating gains on the added shorts for Micron Technology, Nvidia, and SOXX were approximately 10.9%, 4.8%, and 6.4%, respectively, with a simple average of approximately 7.4%. Due to the current lack of information on specific short sizes, option structures, add ratios, and whether positions have been closed, actual profit amounts cannot be calculated.

"Big Short" Michael Burry Shorts Semiconductors, Gains Up to ~34.7%

On July 29, a senior Iranian official stated that Tehran has rejected Oman's proposed joint management plan for the Strait of Hormuz region, deeming it unlikely to succeed. Iran refuses to allow other countries to participate in the management of the Strait of Hormuz and believes that only Iran and Oman can determine relevant arrangements based on their respective territorial waters. Iran insists that all shipping routes entering the Strait of Hormuz, as well as some exit routes, must be under Iranian control. A 50-50 joint management arrangement with Oman is not in Iran's interests, although Tehran views Oman as a valuable neighbor. The United States and Saudi Arabia are attempting to pressure Oman to advance its unrealistic plan for the Strait of Hormuz. (Jin Shi)

[Iran Rejects Oman's Joint Management Plan for Strait of Hormuz, Insisting on No 50-50 Split]On July 29, a senior Iranian official stated that Tehran has rejected Oman's proposed joint management plan for the Strait of Hormuz region, deeming it unlikely to succeed. Iran refuses to allow other countries to participate in the management of the Strait of Hormuz and believes that only Iran and Oman can determine relevant arrangements based on their respective territorial waters. Iran insists that all shipping routes entering the Strait of Hormuz, as well as some exit routes, must be under Iranian control. A 50-50 joint management arrangement with Oman is not in Iran's interests, although Tehran views Oman as a valuable neighbor. The United States and Saudi Arabia are attempting to pressure Oman to advance its unrealistic plan for the Strait of Hormuz. (Jin Shi)

Iran Rejects Oman's Joint Management Plan for Strait of Hormuz, Insisting on No 50-50 Split

On July 22, the CEO of CoreWeave stated that the company is massively deploying AI infrastructure and is on the right track in building an AI-native cloud. In addition, as AI cloud revenue grows, the accounting impact of depreciation will diminish.

[CoreWeave CEO: Company is Massively Deploying AI Infrastructure]On July 22, the CEO of CoreWeave stated that the company is massively deploying AI infrastructure and is on the right track in building an AI-native cloud. In addition, as AI cloud revenue grows, the accounting impact of depreciation will diminish.

CoreWeave CEO: Company is Massively Deploying AI Infrastructure

Claude's Major New Feature: Screen Recording + Voice, Distilling Your Skills into AI Tasks in One Click

Gate Research Institute: The 'Wall Street-ization' Wave of Crypto Financial Products – Competition or Integration?

BIT Trading Moment: BTC Still Suppressed by Weekly 200 EMA, Rejection May Restart Decline; Storage and Semiconductors that Surged Last Night Begin Falling in Evening Trading

BUILDon loses 15% as Futures activity cools down — Another decline incoming?

Is Bitcoin nearing another accumulation zone? THIS signal says yes

Pons V2 brings RWA trading pairs as Robinhood Chain broadens its ambitions

From OpenSea to OpenRouter: Is Alex Atallah Repeating His 'Exit at the Peak' Playbook?

2 Months, Valuation Soars from $8.8B to $68B! The Largest AI Model Hub OpenRouter May Be Acquired

CoreWeave CEO: Company is Massively Deploying AI Infrastructure

Disclaimer：Il contenuto di cui sopra non rappresenta le posizioni di HTX.，HTX non fornisce alcuna raccomandazione di trading.。

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