$ETH Pi coin is a bottom-fishing opportunity. 🚀 Officially announced important progress: Pi has completed its first distributed computing function test! Pi Network just updated: With the release of Node 0.6.2, the official team successfully completed an initial distributed computing function test through SoloHost. Test details: A total of 5 volunteer node operators participated All 5 devices successfully and automatically completed the computing tasks dispatched through the SoloHost application The end-to-end process was fully verified: Connect to the Pi Coordinator → receive and process computing tasks → return results This test is highly significant. SoloHost is an open, permissionless framework in Pi Desktop that allows developers to build and run self-hosted applications and node tools. It previously supported applications such as local AI agents and has now officially taken a key step toward distributed computing. The official team stated that this builds on the previous proof of concept, exploring the use of more than 420k Pi nodes worldwide for decentralized AI training and computing tasks. Through SoloHost, these functions can be automated and scaled, gradually developing into production-grade applications. In the future, participating nodes may receive Pi compensation from third-party clients by providing computing power. Simply put: The value of Pi nodes is expanding from “maintaining the blockchain” to “contributing real computing resources.” This gives computers operated by ordinary Pioneers the opportunity to become part of a decentralized computing network. Node operators and developers can visit Pi App for more details and follow-up developments. Every step toward technical implementation is paving the way for genuine utility.#PiNetwork

Overnight Surge: The Logic Behind the Collective Rise of Bitcoin and Ethereum The crypto market staged a strong rebound last night, with Bitcoin moving upward toward the $70,000 mark and Ethereum posting an even sharper gain, significantly outperforming Bitcoin and driving a recovery in sentiment across the broader crypto market. This rally was not driven by a single piece of news, but rather resulted from the combined effect of macro liquidity expectations, favorable signals from U.S. policymakers, a derivatives short squeeze, and the return of capital. First, marginal signs of improvement emerged at the macro level. The U.S. Treasury announced that it would expand the scale of long-term Treasury buybacks, doubling the repurchase quota for 10–30-year U.S. Treasuries. The market interpreted this as a liquidity-support measure aimed at easing pressure on the long end of the Treasury market. After the news was announced, long-term Treasury yields declined, the dollar weakened, and risk appetite for global risk assets recovered in tandem. As high-beta risk assets, cryptocurrencies directly benefited from expectations of lower interest rates, opening room for a rebound. Second, U.S. regulators sent important positive signals. On one hand, the White House held a closed-door meeting with the crypto industry, with senior officials meeting executives from major crypto companies and signaling support for clear industry legislation; on the other hand, the SEC released a draft of new rules establishing an exemption channel for digital asset financing and reducing the industry's compliance burden. Regulatory uncertainty, which had continued to weigh on the market, eased, dispelling the pessimism of the previous period and providing narrative support for the bulls. Third, the derivatives market saw a typical short-squeeze rally. Before this surge, the market had undergone a period of range-bound consolidation, during which a large number of short positions accumulated in the futures market. After prices broke above key technical moving averages, a large number of short positions were forcibly liquidated, with short sellers forced to buy, further pushing up prices and creating a positive-feedback short squeeze. During the short-term surge, a considerable portion of the upward momentum came from leveraged-position liquidations rather than entirely from new spot-market capital entering the market. Fourth, institutional capital showed signs of returning. Spot Bitcoin and Ethereum ETFs ended their previous period of sustained outflows and returned to net inflows, indicating that some institutional capital had reentered the market. Following the technical breakout above key resistance levels, trend-following right-side capital entered the market, amplifying the rebound. Ethereum, with its higher elasticity, posted a noticeably larger gain than Bitcoin. However, the essence of the market move should also be viewed rationally: Policy benefits have only been reflected in expectations, while the legislation still needs to go through congressional negotiations; the high-interest-rate environment for U.S. Treasuries has not fundamentally changed; and once the short squeeze is over and the positive news has been fully priced in, a pullback after a sharp rise could easily occur. In the short term, two things should be monitored: first, whether spot-market capital can continue to follow through, rather than the rally being driven solely by futures leverage; and second, the pace of subsequent U.S. macroeconomic data and policy implementation. Avoid blindly chasing prices after a sharp rally, as repeated market volatility remains the norm. #BTC升破69000美元日内涨幅6.43% $BTC ‌ $ETH ‌

US Treasury yields retreat, triggering a short squeeze in crypto; BTC and ETH surge sharply. Watch whether BTC can hold above 69.5k with increased volume; manage positions strictly and do not blindly chase gains. #BTC升破69000美元日内涨幅6.43% #Gate24小时资金净流入全球第二 #USD1合约挂单0手续费 $BTC $ETH $SNDK ‌ ‌ ‌