1. Today's Core News Summary (August 5, 2026)

1. Macroeconomic Linkage: Highly correlated with U.S. stocks, risk appetite recovery drives rebound
The current correlation between Bitcoin and the S&P 500 index has risen to 89%, with market trends closely following U.S. stock risk appetite fluctuations. Overnight, U.S. tech stocks stabilized and rebounded, leading to a slight increase in NASDAQ futures, which directly drove the cryptocurrency market's recovery, pushing Bitcoin back above the $64,000 mark. This round of rebound is more driven by macro liquidity and risk sentiment rather than incremental positive news from the crypto industry, continuing to rely on U.S. stock performance.

2. Security Incident: Cold wallet vulnerability leads to over $100 million loss, industry warning escalates
The random number generation defect in the well-known hardware wallet Coldcard has continued to worsen, with over 5,000 wallets affected, and more than 1,755 Bitcoins stolen, valued at approximately $110 million. The incident has triggered widespread discussion about the security of self-custody, with a Dragonfly partner stating that this vulnerability could have been discovered with just a $2 AI audit, causing a slight disturbance in holdings confidence in the short term but not triggering systemic sell pressure.

3. Regulation and Compliance: Deepening consensus on stablecoins between the U.S. and U.K., accelerated expansion of exchanges in Europe
U.S. and U.K. financial regulatory talks reiterated support for the development of stablecoins and asset tokenization, clearly advancing rules for the cross-border implementation of the GENIUS Act, and the regulatory framework for stablecoins continues to become clearer. The exchange Bybit has officially obtained an EMI payment license in Austria, further expanding its compliant business layout in Europe, with the institutionalization and compliance process in the industry continuing to advance.

4. Capital and Clearing: Continued short positions liquidation, market leverage remains neutral
In the past 24 hours, the total liquidation of short positions in the market has remained higher than that of long positions, with the short squeeze phase continuing, one of the direct drivers of the market rebound. The perpetual contract funding rate remains slightly positive, with the market leverage level biased toward neutral and insufficient willingness to chase highs, overall still within a repair market driven by existing capital games.

5. Sector Performance: Mainstream coins show a mixed rise, altcoins experience local speculation
The market exhibited a pattern of widespread upward movement but with clear internal differentiation: BNB led mainstream coins with a daily increase of over 1.6%, while Polkadot and XRP ecosystems performed well; niche currency Cysic soared 93% in one day, with localized speculative sentiment active, but sustainability is generally weak. Bitcoin's market share remains at 56.5%, with funds continuing to concentrate on leading assets.

Mainstream Coin Strategy and Entry Point Reference
The following is a technical analysis summary, for market opinion reference only, and does not constitute any trading advice.
1. Bitcoin (BTC)

Market Qualitative Analysis: The 4-hour level maintains a fluctuating repair trend, stabilizing above the $63,000 support zone, with a solid short-term rebound structure; however, the upper resistance at the $64,500–$65,000 range is dense, and a breakthrough is currently difficult due to insufficient volume, treating it with a range fluctuation mindset during the day.

• Key Support:
◦ First Support: $63,600 – $63,700 (day's oscillation center, short-term holding position)
◦ Strong Support: $63,200 – $63,300 (dividing line between bulls and bears, breaking below slows the rebound rhythm)

• Key Resistance:
◦ First Resistance: $64,300 – $64,400 (day's high + short-term pressure level)
◦ Strong Resistance: $64,800 – $65,000 (round number + previous transaction dense area)

• Reference Thoughts:
◦ A stabilizing rebound in the $63,500–$63,700 range may allow light long positions, with a stop loss placed below $63,100
◦ A rebound to the $64,300–$64,500 range may face selling pressure, with a stop loss placed above $64,900

◦ If it effectively holds above $64,500 with volume, watch for a move to the $64,800–$65,000 range; if it breaks below $63,200, then mainly observe.

2. Ethereum (ETH)

Market Qualitative Analysis: The Bollinger Bands channel is narrowing, with volatility compressing, in a stage of oscillation and consolidation; support near $1,850 remains effective, but upward momentum is weaker than before, facing heavy pressure at the $1,900 round number, and independent market conditions are unlikely in the short term, primarily moving with Bitcoin.

• Key Support:
◦ First Support: $1,850 – $1,855 (day's short-term holding position, near Bollinger Bands midline)
◦ Strong Support: $1,835 – $1,840 (bull-bear dividing line, breaking below returns to weak oscillation)

• Key Resistance:
◦ First Resistance: $1,880 – $1,885 (Bollinger Bands upper band pressure)
◦ Strong Resistance: $1,900 – $1,910 (round number + previous trapped area)

• Reference Thoughts:
◦ A stabilizing rebound in the $1,845–$1,855 range may allow light long positions, with a stop loss placed below $1,830

◦ A rebound to the $1,880–$1,890 range may face selling pressure, with a stop loss placed above $1,905

◦ If it effectively holds above $1,900, a rise to around $1,930 can be anticipated; if it breaks below $1,835, avoid trading.

3. Solana (SOL)
Market Qualitative Analysis: Following the broader market's recovery, support around $73 has confirmed effectiveness, with the short-term rebound structure neutral; on-chain activity remains muted, lacking independent catalysts, and the trend highly depends on broader market movements, maintaining an oscillation pattern in the $72–$75 range.

• Key Support:
◦ First Support: $73.2 – $73.5 (day's short-term holding position)
◦ Strong Support: $72.3 – $72.6 (bull-bear dividing line, breaking below returns to weakness)

• Key Resistance:
◦ First Resistance: $74.3 – $74.5 (near day's high)
◦ Strong Resistance: $75.0 – $75.3 (previous transaction dense area)

• Reference Thoughts:
◦ A stabilizing rebound in the $73.0–$73.4 range may allow light long positions, with a stop loss placed below $72.0

◦ A rebound to the $74.3–$74.7 range may face selling pressure, with a stop loss placed above $75.5

◦ A breakthrough above $74.7 with volume may watch for a move to around $75.3, while a break below $72.3 mainly observes.
Operational Supplementary Reminder

1. The market is highly correlated with U.S. stocks, and there's doubt about the sustainability of rebounds under insufficient volume; it is recommended to operate with light positions and strict stop losses to avoid chasing highs.
2. Core variables to observe within the day: performance of tech stocks after U.S. market opening, trends in the U.S. dollar index, and the continuing fallout from the cold wallet security incident.

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