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$BTC $ETH $BNB
📊 Market Overview & Macroeconomic Triggers:
• Bitcoin slips 2.2% to around $118,949, extending its decline from the mid July all time high of over $123,000. Solana and XRP also dropped, while Ethereum bucked the trend with a 1.5% gain. This market movement appears tied to cautious sentiment ahead of the U.S. CPI data release.
• Traders are anxiously awaiting the July CPI data, which is expected to impact Federal Reserve policy direction. Elevated inflation could delay rate cuts and pressure the crypto market further.
🏛️ Institutional Inflows & Market Dynamics:
• Spot Ethereum ETFs surged, seeing a record $1.019 billion in net inflows, led by BlackRock’s $640 million contribution. Cumulative inflows now exceed $10.8 billion.
• The broader crypto market cap rose slightly by 2% to about $4.03 trillion, with Ethereum and Bitcoin holding gains even as futures open interest slipped. Notably, DeFi protocol Ethena surpassed $11.9 billion in total value locked (TVL).
• CoinDesk flags a potential “double top” formation for Bitcoin, as bulls failed to break above $122K again an early technical sign of possible reversal.
⚖️ Corporate & Legal Developments:
• Circle Internet Group announced a first post IPO net loss of $482 million, mainly due to stock-based compensation and convertible securities adjustments. Despite this, revenue jumped 53% year over year. The business still faces interest rate risks and competition in the stablecoin space.
• Do Kwon, founder of Terraform Labs, is reportedly facing U.S. fraud charges related to a $40 billion collapse tied to TerraUSD and Luna. He is expected to plead guilty.
• Following the recent GENIUS Act, major firms like Bank of America, Citigroup, Walmart, and Amazon are exploring launching their own dollar backed stablecoins. However, experts note that technical, strategic, and regulatory hurdles remain.

To be honest, it only dawned on me today - Binance Alpha has actually reached its 100th issue. For a veteran player who has been in the crypto space for many years, this is not just a number, but a full record of the journey from bull to bear, and then to a new cycle.
I still remember when Alpha was first launched, many people didn't take it seriously, thinking it was just another 'information channel' from Binance. Who would have thought that this column gradually became essential for many people to filter new projects, track trends, and even find early opportunities.
In these 100 issues, Alpha covers a particularly comprehensive range of project types - from public chain infrastructure, DeFi protocols, to AI, RWA, inscription tracks, and even meme hotspots. Its value lies not only in 'telling you what it is,' but also in providing project logic, potential risks, and market background, which saves newcomers a lot of time that would otherwise be spent sifting through countless materials.

First, this news needs to be stated—Bitcoin has truly beaten Amazon this time, surpassing it in market value. As of recently, Bitcoin's market value briefly broke through about $2.42 to $2.45 trillion, successfully jumping from 'the sixth largest global asset' to the world's fifth.
Seeing this, my first reaction is: 'Wow, this is not just a price increase, but more like a ceremony for identity enhancement.'
BTC has elevated from 'local asset' to a global asset of significant scale, and there are three levels of signals behind this worth pondering.
1. Institutional money is really coming in, and ETFs have become the entry point.
This wave of increase is intense, and the key factor is that the inflow of spot Bitcoin ETFs has set a historical record, especially with traditional large institutions like BlackRock leading the way.