Bitcoin is trading near $64K and remains weak, but exchange flows confirm neither a sell-off nor a supply shortage: inflows are near multi-year lows, while Netflow is close to zero.
Why is that not enough for the price to recover?
Morning Brief #223👇

🚨 Europe’s crypto market is entering a new era of regulation.
Gate Europe CEO Dr. Giovanni Cunti joined a Cointelegraph X Space to discuss the future of digital asset regulation in Europe, the impact of MiCA, and Gate Europe’s long-term growth strategy.
Here are a few key takeaways:
🔹 MiCA is creating a unified regulatory framework across Europe.
A harmonized market means broader access and could accelerate institutional adoption of digital assets.
🔹 Compliance is becoming a competitive advantage.
Clear and transparent rules help build trust, improve investor protection, and provide a stron

📢 Message from the EGY team
As we promised you… today 2,300,000 EGY tokens were burned. 🔥
Thus, the total amount burned so far becomes:
✅ 4,300,000 EGY from the team’s plan.
✅ 200,000 EGY burned from brother Nagib.
Total tokens burned so far: 4,500,000 EGY. 🔥
At the same time, we are getting close to reaching suitable offers with a number of major crypto influencers, in preparation for launching the paid advertising campaign we promised you, with the aim of expanding the project’s reach and reaching a larger community.
We continue to carry out what we announce step by step, and what was ach

#SK海力士财报不佳盘后下跌 SK Hynix with a 5x PE: opportunity or risk?
SK Hynix with a 5x PE: the biggest risk is the 【cycle top low-PE valuation trap】; the opportunity comes from HBM structural barriers and long-term contracts hedging cycle volatility. Simply seeing a 5x PE and thinking “it’s cheap” is the most common pitfall for cycle investing.
First, clarify: the current 5x PE is calculated using annualized profits at the peak of this cycle’s boom; it is a forward PE, not steady-state normal earnings.

I. Why many people think: a 5x PE is a massive risk (bear logic)

1. Storage rule of thumb: at the

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#NFTSectorSurgesOver8%
NFTS ARE GAINING MOMENTUM AGAIN
The NFT market is showing renewed strength, with the sector climbing more than 8% as improving crypto market conditions reignite investor interest. Rising floor prices, stronger blockchain activity, and expanding real-world use cases are all contributing to a recovery that appears far more structured than the speculative boom witnessed in previous years.
This latest rally is being supported by broad strength across major cryptocurrencies. Ethereum advanced more than 9% to trade above $1,800 following BitMine Immersion Technologies' $139.2

Bitcoin Slips Below $64K Ahead of the Fed—Is This Just Pre-FOMC Caution?
Bitcoin briefly fell below $64,000 as traders reduced risk before the Federal Reserve's interest rate decision. Rather than panic selling, the current weakness appears driven by investors waiting for clarity on monetary policy.
🚀 What's Driving the Pullback?
📉 BTC dropped around 2.5%, briefly trading near $63.3K.
💰 Spot Bitcoin ETFs recorded another day of net outflows, reflecting cautious institutional positioning before the Fed announcement.
📊 On the technical side, Bitcoin lost its short-term ascending trendline an

Banks are panicking: 134 executives sign a joint letter, all for one thing—to cut off your stablecoin interest
USDC in your wallet earns you 4% interest every year.
Banks looked at it—and can’t sleep.
On July 29, 134 officials and bank executives from the American Bankers Association jointly sent a letter to the Senate, urging revisions to Section 10404 before the CLARITY Act is finalized.
What are they trying to do?
Completely choke off stablecoin interest and returns—not only banning direct interest payments, but also sealing off “rewards” and “incentives” in any disguised form.
Translation:

Tongji University: Many professors were not renewed
University teachers are no longer “iron rice bowls”

Pi Network co-founder said this at Consensus 2026: “Some tokens are mainly used to raise funds without any real product innovation. People get money easily and immediately, but without truly putting in the hard work to build.”
Pi has chosen another path—build the ecosystem first, then talk about the price; have users first, then talk about value.

Against all odds $TOTAL crypto market cap did the exact same corrective structure to 2022: expanded flat
This points to the correction already ended and a full-on reversal takes place once $BTC breaks through 66k

This short position finally paid off. After $FF showed pressure from a high level, the price went from 0.10466 down to 0.06734, resulting in a +1720.45% gain. The earlier stretch was really torturous—a grinding mill. Every rebound looked like it was about to start a pump, nearly washing out my judgment.

What I was watching wasn’t any single large bearish candle. Instead, it was that the rebounds were getting weaker and the bids couldn’t keep up. After the rally peaked and then rolled over, the signals on the chart were very direct—shorts started to take control of the rhythm—so I didn’t pani

#NVDIA
As long as we stay below 210$ I do believe we are in a distribution for the best AI chip stock.
Reclaim 210$ and bull run continues 👽

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#SKHynix
The market punished SK Hynix after earnings, but I believe the bigger story is being overlooked.
When a company reports record revenue and record profit, most investors expect the stock to move higher. Instead, SK Hynix shares came under heavy selling pressure. This wasn't because the business suddenly became weak. It happened because expectations had become even stronger than reality.
The AI boom has made SK Hynix one of the most closely watched semiconductor companies in the world. Every earnings report is now judged against extremely high expectations. Even a record-breaking quart

#FARTCOIN5L The market is up—what do you mean by you’re down??

#Bitcoin is still respecting the same Fractal HTF structure.
Every breakout has been followed by a retest and then a mean reversion back into the trend. So far, this cycle is no different.
Momentum is cooling after the recent breakout, and if the rising diagonal fails to hold, I think a move into the next HTF demand zone becomes the higher-probability outcome.
Right now, I'm not seeing fresh capital entering the market, it's mostly liquidity rotating within crypto. Until that changes, I don't expect an aggressive continuation to the upside.
74,255 is the key level (Bearish OB) to watch. Until

#MinnesotaPredictionMarketBanBlocked
⚖️🌍 The world of financial innovation continues to evolve as legal developments, technology, and market participation shape the future of digital platforms. The recent news surrounding **Minnesota prediction market ban being blocked** has sparked widespread discussion among industry observers, legal experts, technology enthusiasts, and market participants who closely follow developments in emerging financial ecosystems.
As innovative financial products continue to expand, legal and regulatory decisions often become important milestones that influence how