News

According to CryptoQuant analyst MorenoDV_, the Bitcoin UTXO profit-loss ratio model reading has fallen into the historically common bottom range. The analyst emphasized that the 365-day moving average needs a more significant decline to prove that the market's long-term profitability structure has been reset. There may be short-term rebounds triggered by short squeezes, but if the profit-loss ratio fails to continuously rebuild, it should not be considered a signal of structural recovery. Signs of internal cleanup within BTC have emerged, and the market still needs to withstand more pressure.

```htmlJinse Finance reported that on June 29, four analysts from the Nomura Global FX Strategy team stated in a research report that the rise of USD/JPY remains limited due to increased vigilance regarding Japanese authorities intervening in the foreign exchange market. They commented: "Based on previous intervention events, though we note the sample size is extremely limited, we observe that as USD/JPY approaches the 163 level, the likelihood of intervention by Japan’s Ministry of Finance grows." These analysts estimated the 163 level using data from two rounds of yen-buying interventions in 2022 and 2024 within the same year. According to data from the London Stock Exchange Group, the US dollar was essentially flat, quoted at 161.79 yen.```

BlockBeats News, June 29th, Samsung Electronics and SK Hynix announced a large-scale investment plan. Morningstar stock analyst Jing Jie Yu stated that SK Hynix's Icheon semiconductor cluster's total investment commitment is estimated to have reached about 600 trillion South Korean won. If the additional commitment is considered an independent investment, it may imply a significant risk of oversupply in the next decade. The uncertainty led to a temporary stock price decline today. He pointed out that the current view still maintains that the pricing of storage chips will show a long-term cyclical trend. It is expected that new capacity will take at least two to three years to come online. Initial demand will outstrip supply, but later in the cycle, oversupply may occur as peak capacity coincides with a slowdown in demand. It is believed that the shortage of storage chips will worsen, but long-term agreements and manufacturers generating substantial cash are driving a series of capacity investments. Unless the return on investment of hyperscale cloud service providers can consistently keep up with sales volume and price increases throughout the period, this trend is unlikely to be sustained over the next decade.