Here's a narrative from the industry side, let's watch it unfold: The storage concept is collectively recovering in the US stock market tonight, with SK Hynix and SanDisk both rising. The story of this memory cycle is actually quite straightforward—AI has pulled HBM and high-end DRAM from being "cyclical products" to "essential goods," with prices returning to 2007 levels. But the smoother the story goes, the more you have to watch out for the first bearish candle signaling a reversal in the capital expenditure narrative. I agree with the fundamentals, but I'm cautious about the timing. For knockoffs trying to ride this trend, first check if they have real orders; don't pay for PPT hype, those who understand will get it.

Here's a geopolitical flash that has been misread by the $BTC community, watch closely: A petrochemical plant under Russia's West Siberian banner was hit by a drone attack yesterday and shut down, while Russia's crude oil exports dropped to their lowest since May; on the Middle East side, oil tankers are still relying on relay transfers outside the Strait of Hormuz to hold on. A bunch of people are starting to chant "war, safe haven, buy Bitcoin quickly." I'll say it straight: this market cycle hasn't priced geopolitics as a safe haven at all. When oil rises, it's inflation expectations kicking in, prolonging the rate hike narrative, which pressures risk assets. Don't buy into this flying knife narrative, just watch and see.

Note a piece of news that might easily be overlooked, watch closely: Google today launched the VIBE coding course aimed at AI professional certification. At first glance, it's a small piece of news, but placing it in the context of the past two months — what big companies are competing for is no longer just models and computing power, but "who defines the working methods of the next generation of developers." Winning the developers means winning the ecosystem, which is the old script from the operating system battles back in the day. What about the relation to crypto? The real AI+Crypto narrative will only count once this batch of new tools truly lowers the threshold for on-chain development. Protect your resources; don't rush ahead just for the concept.

Here's a narrative from the AI side to keep an eye on: Tonight, Nvidia's stock price rose 1.8% while it was revealed that they plan to launch the open-source model Nemotron 4. This move is worth pondering— the top seller of GPUs is personally releasing a free model, clearly aiming to get more people to run inference on its cards, effectively locking the ecosystem into its own hardware. For the secondary market, this is a short-term emotional catalyst; for the industry, it's another reinforcement of "compute power = moat." Open source does not equal charity, those who understand know. Let's see how this story unfolds.

♾️ BlockInfinity Evening Report · War Priced as "Rate Hike", $BTC Fails Both Risk-On and Safe-Haven Tests 🌍【Macro】 War is priced as a "rate hike" rather than a "safe haven": oil prices surge → reflation → rising rate hike expectations, suppressing BTC and semiconductors. Biggest variable this week = 🇺🇸 US CPI (Tuesday/Wednesday), high oil prices push inflation expectations up, market cautious before release. 🛢️【International Situation / Commodities】 WTI crude oil $81.92 (+4.3%), low-sulfur fuel oil up over 5%, SC crude up over 4%; Middle East geopolitical tensions + SPR low levels resonate. 🥇 Gold breaks $4,400 → $4,417 (+2.2%), 🥈 Silver breaks $65 → $65.94 (+3.9%, bulls 92%), both continuing to hit new highs. Dow futures -1.4%, QQQ -0.2%; financial/crypto stocks under pressure: MSTR -3.4% · COIN -3.4% · IREN -6.4% · CRWV -3.3% · MRVL -4.3% · INTC -3.8%. AI cloud sector strengthens divergently: ORCL +2.1% · MSFT +1.4% · AMZN +1.1% · GOOGL +0.5%. Storage: SNDK +2.7% resilient · MU -0.7% · SK Hynix (Korean stock) -1.3%; A-share storage chain strong (Taiji Industrial limit up / Lianyun +10% / Changxin Storage +5.0% / Montage +2.9%). 📊【Technical · Multi-timeframe】 BTC $64,039 (-1.6%), sharp intraday drop. Daily still holds MACD above zero line bullish (DIF174>DEA102, histogram +144 but converging), just broke MA20 64,290; 4H/1H turned bearish, 4H RSI14 36 / RSI7 23 deeply oversold, BOLL 4H bandwidth 2.1% narrowing, indicating imminent breakout. Range 62,227–66,732. ETH $1,879 (-2.3%) weakest leg. Daily MACD histogram turned negative (-6.7) edging bearish, fast version death cross; 4H RSI14 34 / RSI7 22.7 extremely oversold, pressing MA20 1,894. Range 1,820–1,982. SOL $76.07 (-0.9%) relatively resilient, strongest leg. 🔄【Derivatives】 Funding rates mild positive, no extremes: BTC +0.010%/8h · +0.002% · HL +0.00125%/1h; ETH HL slightly negative -0.0009%. No squeeze fuel. Spot premium -0.104% / -$67 (discount, risk-off). 4H/1H deeply oversold (BTC RSI7 23 / ETH 22.7) → short-term rebound probability rising, avoid chasing shorts. Max Pain 8/11≈$65K / 8/12≈$64.5K ≈ current price magnet; Fear & Greed ~26 (fear), DVOL ~46. 🧭【Crypto Core Judgment】 Crypto continues "double failure" on risk-on and safe-haven: gold and silver hit new highs, oil surges, but BTC/ETH fall with the market instead of rising. Daily remains in range, but 4H/1H turned bearish, intraday broke MA20; short-term deeply oversold but no confirmed upward trend. Direction only after breaking above 65.8–66.9K or below 62–63K. 📌【Comprehensive Judgment】 No trend market, mid-range of box. Short-term severely oversold, sharp drop has entered rebound probability zone; but fundamentals (high inflation/rate hike paradigm) remain bearish for BTC, lacking reasons for a long trend. Prefer to wait and see. 🎯【Today's Trading Advice】 Do not chase trades at BTC/ETH mid-range: deeply oversold chasing shorts = short squeeze fuel, avoid running naked at 64K magnet. Want to go long: wait for stabilization at 62–63K or break above 65.8K, use wide stop loss (BTC daily ATR 2.1%≈$1,350). Want to short: need break below 62K box + volume confirmation, do not catch in oversold zone. Storage/semiconductors: oil-driven reflation is a headwind, reduce positions on rebounds rather than averaging down. ⚠️【Risk Events】 US CPI this week (biggest variable, high oil → inflation → rate hike pricing → pressure on BTC/semiconductors). Middle East geopolitical / Hormuz (oil price trigger). Storage sector single negative risk hitting multiple legs simultaneously. #BTC #ETH

$BTC deeply oversold but hard to rebound: oil prices + hawkish double whammy, crypto faces "double failure" in risk and safe haven 🌍 Macro theme | Risk assets hit by "hawkish + oil price" double whammy Fed officials take turns delivering super hawkish remarks: during trading, they said "several rate hikes may be needed," "do not expect inflation to fall on its own," "now is the time to act." Recently, multiple voting members echoed this → rate hike paradigm unchanged, risk-on extinguished. US stocks closed higher on Friday (S&P 7,757 / Nasdaq 26,690 +1.3% / Dow 54,037, VIX 14.9 at a low volume), but oil prices surged on Monday reigniting inflation concerns, Nasdaq softened early session, market holding breath for this week's CPI. US Treasury 2Y/10Y curve steepened to the steepest since late May (spread 45.7bp), a tug of war between rate cuts and reflation. 🛢️ International situation & oil prices Hormuz negotiations deadlocked: Iran reiterates multiple conditions before fully reopening the strait (lifting US blockade + compensation), suddenly replaced top National Security Council secretary and reshuffled several military commanders at a critical moment; Houthis claimed attack on a Saudi refinery, combined with fire at Libya's Zawiya oil depot, US strategic petroleum reserves dropped to lowest since 1983. Brent settled at $87.72 (+4.99%), WTI $82.13 (+5.05%), European natural gas +10%. Oil → inflation → rate hike expectations, this is "war priced as rate hikes" rather than safe haven. 🥇 Physical assets Gold continues to hit new highs, standing at $4,385 (+0.9%), silver $65.9 (+3.0%); US fiscal deficit for first 10 months of 2026 at $1.8 trillion. Typical "war priced as rate hikes, not safe haven" — physical assets rise, risk assets fall, gold hits new highs while crypto falls. 📊 Crypto multi-timeframe technicals (second intraday drop) 🔴 BTC $63,900 (-1.9%): broke below morning $64,300, 1H RSI 25.6 / KDJ J value negative = deeply oversold, 4H MACD bearish bars, bandwidth 1.18% narrowing signaling imminent reversal; daily still holds MACD bullish bars (+143 converging) near MA20, box range 62,200–66,700 intact. 🔴 ETH $1,873 (-2.5%) weakest leg: 1H RSI 24.3 extremely oversold, MACD bearish expanding; daily borderline bearish pressing MA20 ($1,894). 🟡 SOL $75.9 (-1.8%) relatively resilient, strongest among three legs, 4H/daily still bullish standing at Bollinger upper band, multiple MA alignment. ⚙️ Derivatives | Continued long deleveraging 24h longs liquidated: BTC long liquidations $26.2M vs short liquidations $11.4M; ETH long liquidations $43M vs short liquidations $9.4M. Open interest 24h -15.2%, 4h -13.6% significant deleveraging. Funding rates mildly divergent, mainstream perpetual 8h funding range about -0.007%~+0.010%, not extreme. Spot premium turned negative -0.086% (institutional selling bias), fear-greed index 26 (fear), DVOL 46.1, Max Pain magnet zone ~$64–65K close to current price. Current 1H deep oversold = short squeeze fuel, don't chase shorts at the pit entrance. 📈 US stocks | Crypto stocks hit hard, AI/large caps diverge Crypto-related stocks bloodied: MSTR -6.1%, COIN -4.0%, BMNR -4.2%, CRCL -2.6%. AI infrastructure/miners broadly down: IREN -7.3%, NBIS -3.9%, CRWV -3.5%, MRVL -3.8%. Large caps mild: Nasdaq/QQQ -0.4%; MSFT +1.0%, ORCL +2.7%, AMZN +0.5% bucking trend, GOOGL/META/TSLA slight declines. Storage chain divergence: SNDK +1.6%, MU -0.4%, SK Hynix ADS -3.0%, DRAM -2.0%. 🧭 Comprehensive judgment Risk assets today suppressed by "hawkish statements + oil price reflation" double pricing, crypto faces "double failure" in risk-on and safe haven (gold new highs, crypto still down). Oil price inflation shock + long position concentrated liquidation flash crash pushed crypto prices into short-term oversold, but daily structure (BTC/SOL) not broken, box range oscillation; physical assets (gold, silver, oil) strengthen. This week's CPI is the biggest variable. 🎯 Trading advice 🔴 Don't chase shorts: BTC/ETH 1H RSI 25/24 deeply oversold, chasing shorts = fueling short squeeze, wait for rebound or breakdown to act. 🟢 Don't bottom fish or add longs: lack of daily trend confirmation, don't run naked in box mid-range. 📈 Break above 65.8–66.9K and hold to go long; break below 62–63K with volume to consider short. 🟡 Widen stop loss (BTC daily ATR ≈ 2.1%), don't use tight stops to avoid being shaken out; light position short-term trades must have wide stops. ⚠️ Risk events This week's US CPI (biggest variable amid oil price surge) · Middle East oil prices (Hormuz negotiations/Libya oil depot) · Fed officials hawkish remarks (strong inflation means September hike) · Korean semiconductor pressure. #BTC #ETH #SOL

Noting a small emotional signal, let's watch: Tonight, the three major U.S. stock indices all closed down, but the Nasdaq Golden Dragon China Index rose against the trend by 1.65%, with Alibaba up 3%. This independent strength in Chinese concept stocks is driven by the unfolding connection between Apple’s engagement with Alibaba and the implementation of domestic AI applications. Looking at crypto, this has some reference value—when capital starts seeking "cheap, independently narrated" niches outside the main U.S. stock lines, those altcoin sectors with real-world application scenarios might react earlier than miscellaneous coins just lying down with BTC. Rotation always starts from the strongest narrative. Those who understand, understand.

Note a geopolitical narrative repeatedly misinterpreted by the crypto community, let's watch it unfold: Tonight Trump declared "only the US can control the Strait of Hormuz," and also said the strait has been cleared of mines; meanwhile, the German Foreign Minister insists the strait must be unconditionally open. On the surface, tensions seem high, but in reality, all parties are looking for a way to "reopen" it. Why does this matter to you? Because oil prices surged 5% amid this game. Don't reflexively shout "bullish for Bitcoin as a safe haven" just because of Middle East tensions—this round, the oil price impact is on inflation and interest rate hikes, which suppress all risk assets, and crypto is no exception. Geopolitical narratives only matter when they translate into pricing logic. Let's watch.

Note a quick news item that is easy to overlook, watch closely: The SEC has sued Adit Ventures, accusing it of defrauding investors and misappropriating client funds in pre-IPO stock investments like SpaceX and Klarna. The significance of this case goes beyond the individual incident—the hotter the star targets in the primary market, the more gray-area schemes emerge under the guise of "helping you get original shares of SpaceX." Retail investors get excited just hearing SpaceX or "the last round before IPO," which is exactly when they are most vulnerable to being exploited. If you want to get involved with these types of assets, first make sure whether what you are buying is actual equity or just a story. Those who understand, understand.

Here's an industry narrative I've been following closely, let's see how it unfolds: The real hard demand in this AI wave isn't graphics cards, it's memory. Large model training and inference consume high-bandwidth memory; HBM and DDR5 are persistently out of stock. Several major companies have invested tens of billions to expand capacity but still can't keep up with demand. So tonight, as storage stocks pull back with the broader market and SK Hynix's US shares drop 1.9%, I'm actually paying closer attention—the narrative hasn't broken, orders haven't collapsed, only sentiment has dipped. Those who understand this chain know: the AI ledger ultimately has a big entry on memory. Protect your ammunition; don't throw away a good hand just because of sentiment.