🗞《Morning News》｜2025-08-20

📰 Major Positive / Negative News:

- European crypto company Amdax is planning to list the “Bitcoin Treasury” (AMBTS), aiming to capture at least 1% of the circulating Bitcoin supply, setting an example for institutional allocation (positive news).

- The Central Bank of Bahrain has released a framework for the issuance of SIO stablecoins, clarifying the path for the issuance and regulation of stablecoins pegged to fiat currencies (positive news).

📊 Long/Short Ratio (ETH):

- According to data provided by Coinglass, ETH longs account for 47.90%, shorts account for 52.10%, resulting in a long/short ratio of approximately **0.92** (bearish, indicating a prevailing cautious sentiment in the current market).

🛂 Regulatory Dynamics:

- The European market structure and compliance are gradually improving (Amdax is exercising a leading effect).

- The implementation of the stablecoin regulatory framework in Bahrain sets a compliance example for the Middle East market.

🔍 Capital Movements:

- No significant movements of whale-level funds have been observed yet; we will continue to follow on-chain fluctuations in the “Whale Movement” segment during the lunch break.

🧠 Brief Commentary:

- The current long/short ratio of ETH being bearish reflects short-term pessimistic trading sentiment; it is necessary to capture opportunities in conjunction with market conditions and capital movements;

- BTC and ETH have different degrees of pullback, the structure remains relatively healthy, but the pace needs attention;

- The policy environment is positive, and short-term pullbacks may serve as a structural adjustment window before institutional allocations.

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- “What do you think about the ETH long/short ratio dropping below 1? Is it a correction of sentiment or a washout reshaping the structure?”

- “Structural positives are gradually being implemented, but the market pullback is significant. Will you enter the market or wait and see? Feel free to discuss in the comments~