A Milk Road interview recorded on Aug. 19 and aired on Aug. 20 captured a sharp mismatch between a veteran investor’s short-term market call and Bitcoin’s actual move. Rob, founder and host of Digital Asset News, said he still viewed the area around Bitcoin’s 200-week moving average as a historically attractive accumulation zone and argued that disciplined dollar-cost averaging matters more than trying to call an exact bottom. He had laid out a cautious case that, under a four-year cycle framework, Bitcoin could bottom around October and potentially revisit $55,000, $50,000, or even $45,000. Instead, the day after recording, BTC jumped about 10%, briefly moved above $70,000, hit its highest level since early June, and helped trigger the largest short liquidation wave since 2021, with more than $1 billion in short positions wiped out in a single hour. Across the discussion, Rob also detailed his risk-based DCA system, his staggered profit-taking rules, his skepticism toward the CLARITY Act and a White House crypto meeting, his concerns about self-custody after issues involving major wallet brands, his preference for four major altcoin networks, and his view that AI agent payments could become a major narrative in the next cycle.

ChainFeeds Research’s PRO issue #153 pulls together a broad set of Bitcoin and Ethereum research updates, led by three themes: a more granular circuit breaker design for Gloas builder markets, a discussion of proprietary AMMs on Ethereum, and a proposal to eliminate part of oracle extractable value through synchronized state transitions. Ethereum researcher Potuz argues that failures in payload delivery should not automatically force validators into self-building, and instead proposes a layered fallback system based on builder trust. Ethereum Foundation researchers Mike Neuder and Maryam Bahrani describe PropAMM as a middle ground between traditional AMMs and RFQ systems, preserving onchain execution while letting professional market makers update pricing parameters more actively. Oraclizer CPTO Jay Kim, meanwhile, frames OEV as a structural timing problem and outlines a model where updates and downstream consequences are bound into a single cross-domain atomic transition. The report also covers a Coldcard hardware signer warning tied to weak seed entropy, two denial-of-service bugs in Core Lightning, a zkPoH concept for proving ownership of at least 1 BTC without exposing specific UTXOs, native randomness sourcing for onchain games, selected items from The MEV Letter #148, and a phishing paper that says transaction simulation itself can become an attack surface.

July 28 brought a dense mix of crypto market moves, semiconductor headlines, AI developments, and regulatory updates. In equities tied to China’s chip sector, CXMT posted a 465.82% gain on its first trading day, with turnover topping RMB 140 billion and market capitalization reaching RMB 3.28 trillion. Separate reporting cited by The Information said a Shanghai state-backed company has started mass production of self-developed DUV lithography manufacturing equipment, with output planned at around five units in 2026 and about 20 in 2027; SMIC, Hua Hong Semiconductor, and CXMT were named as intended customers. In crypto, most of the highest-volume CEX tokens were down over the past 24 hours, while AEON led the OKX gainers list with an 84.28% rise. Hyperliquid data around the CXMT IPO drew attention after Allium said pre-listing volume reached $17.8 million and that 96% of smart-money accounts had established profitable shorts before the open. Elsewhere, Strategy disclosed its first buyback of Stretch STRC shares under its digital credit securities repurchase plan, and Triple-A’s reported exploit losses expanded to $11.8 million. On policy, BlackRock backed the CLARITY Act, but the U.S. Senate temporarily set the bill aside, while lawmakers in Japan called for easing the country’s 2x crypto leverage cap.

Changxin Technology, referred to in the source as CXMT, surged 465.8% on its first trading day on Shanghai’s STAR Market, with turnover topping RMB 140 billion and market capitalization reaching RMB 3.28 trillion. The debut, according to Odaily, set several A-share records, including the first technology stock to open above RMB 3 trillion in market value and the first stock to post more than RMB 100 billion in single-day turnover while also recording turnover above 50%. Views on where the stock goes next are sharply divided. Nomura assigned a buy rating and a RMB 116 target price, implying a valuation of about RMB 7.76 trillion. Northeast Securities took a more restrained stance, outlining valuation references ranging from RMB 3.22 trillion to RMB 5.7 trillion. Fund managers including ChinaAMC and Harvest also warned that ETF indicative values could diverge from actual NAV because IPO allocations were still marked at the issue price. Odaily also cited HyperInsight data showing split positioning on Hyperliquid before the listing: labeled wallets from the U.S., Hong Kong and mainland China were net long, while South Korean tagged wallets were the main short side. Separately, Milk Road AI analyst Melvin argued the stock’s sharp rise does not change the global DRAM and HBM supply picture in the near term.

Coinbase's David Duong argues ETH is being undervalued as markets overlook regulatory clarity, BlackRock's staked ETH ETF, and a possible Ethereum supply announcement tied to EthCC.

Jack Dorsey cut nearly half of Block's workforce (4,000 jobs) citing AI efficiency, but only 4.5% of layoffs in 2025 are actually AI-driven. Crypto case: AI bot Lobstar Wilde lost $250k to a decimal error, proving human judgment remains essential.

John Haar of Swan Private said another major monetary expansion is likely within 3 to 24 months if catalysts such as banking stress, geopolitical escalation or fiscal rescue emerge. He argued Bitcoin could benefit from stronger retail and institutional adoption.

Swan Private's John Haar warns another large-scale money printing event is inevitable within 3-24 months due to nine catalysts including geopolitical war, AI displacement, and banking crises. Bitcoin could surge as adoption rises, targeting $1 million by 2030-2035.