Xiaomi YU7 is trending wildly:
One-hour orders exceeded 289,000 units, setting a new domestic sales record for automobiles, with annual production capacity nearly sold out! This wave reflects a herd mentality: some scalpers are hoarding stock, some BBA users are switching their allegiance, and some are even buying just to show off. The harder it is to buy, the more people want to grab it; the more people there are, the more they love to join in. As a result, the Xiaomi YU7's hot sales crowd out other models, as user demand is limited.
The YU7 may not be perfect, but with Lei Jun's branding and effective promotion, traffic drives sales. This is a setback for other models. The auto industry is like the crypto market; when Bitcoin rises, altcoins tend to drop. Currently, Bitcoin is around $107,000 (810,000 RMB), and the Xiaomi YU7 standard version costs 253,500 RMB, equivalent to 0.33 Bitcoin. If you have 0.33 Bitcoin or 253,500 RMB, would you choose the YU7 or Bitcoin?
Cryptocurrency Market Boom:
Recently, cryptocurrency-related stocks like Circle and Tron have performed well in global capital markets, with significant price increases attracting traditional capital. Looser monetary policies, a bullish market, and corporate financing needs have led to a surge in crypto companies going public with diverse IPO formats. This wave of excitement has accelerated the integration of cryptocurrency and traditional finance, but valuation divergence and regulatory uncertainties still pose risks.
Robinhood launches new products (June 28, The Block reports)
Robinhood adds XRP and SOL micro futures contracts and launches micro Bitcoin Friday futures. Micro futures contracts are smaller in size, have lower capital requirements, and are less risky than standard futures, making them suitable for speculation or hedging.
Earlier this year, Robinhood launched Bitcoin, Micro Bitcoin, Bitcoin Friday, and ETH futures, all cash-settled, and is now expanding to XRP and Solana.
Whale Movements (OnchainLens Monitoring)
Whale AguilaTrades closed a BTC 20x leveraged short position with a loss of $344,000, then opened a $160 million BTC long position, holding 1,500 BTC.
US Political and Economic Dynamics:
Market Liquidation Data:
In the past 24 hours, the total liquidations across the network reached $236 million, with long positions liquidating $82.48 million and short positions liquidating $153 million.
Among them: Bitcoin long positions liquidated $13.906 million, and short positions liquidated $105 million. Ethereum long positions liquidated $27.4107 million, and short positions liquidated $14.2232 million. 62,583 people were liquidated, with the largest single liquidation occurring on Binance (BTCUSDT, $93.1098 million).
BlackRock's cryptocurrency purchasing dynamics:
BlackRock purchased $1.15 billion in Bitcoin this week, bringing its total holdings to $77.7 billion, a historic high.
Outlook for Ethereum and Altcoins:
Analysts predict that ETH may break $10,000 in this cycle, with technical patterns (Wyckoff analysis) indicating a potential breakout above $3,200, possibly initiating an altcoin season in the coming weeks.
Alphractal founder Joao Wedson (June 26 tweet) stated that the altcoin season index is below 20%, indicating that this is a current accumulation opportunity. When the index surpasses 20%, altcoins often rise rapidly and outperform Bitcoin.
