🗞《Morning News》｜2025‑08‑21 · 09:00 SGT

📰 Major Positive / Negative News:

- Today's market continues to wait and see ahead of the Fed's speech, with unclear short-term direction and no significant positive or negative surprises.

📊 Long/Short Ratio (ETH):

- From Coinglass data: Long positions account for 47.93%, Short positions account for 52.07%, with a long/short ratio of about **0.92** (bearish).

🛂 Regulatory Updates:

- **United States:** The SEC is discussing further clarification of the digital asset classification framework, with no new policies introduced, and the structure still appears vague (neutral).

- **China:** No updates regarding the renminbi stablecoin or crypto policies for the day (none available).

💰 Capital Movements:

- No public reports today show large whale trades or ETF fund changes (none available).

🧠 Brief Commentary:

- The market is mainly in a wait-and-see mode in the short term; although there has been some rebound, the long/short ratio still leans bearish, reflecting cautious sentiment;

- If there are subsequent whale movements or ETF inflows, it may signal the start of the next market cycle, suggesting close attention to on-chain capital and policy changes.

- "ETH saw a significant daily increase (nearly 6%), but the long/short ratio is bearish. Do you think we should remain cautious in the short term or chase higher prices?"