Michael Bury: Increase short selling of AI related assets, calling South Korean chip investment the beginning of the end

On chain analyst @ ali_charts monitoring shows that in the past 30 days, retail investors and whales have simultaneously increased their holdings of BTC. Retail investors holding less than 1 BTC and medium-sized whales holding 10 to 100 BTC have increased their buying efforts, while large institutions and whales holding 1000 to 100000 BTC have stopped selling and turned to net buying.

New wallet creation hit a three-month high and large-holder activity strengthened, but XRP still needs to reclaim $1.10 before the recovery looks convincing.

Long-term holding wallets have shifted to net accumulation from net distribution, according to Glassnode.

The South Korean Deputy Finance Minister stated on Thursday that South Korea is maintaining close communication with Japan and other major allies on foreign exchange issues, and pointed out that the South Korean won exchange rate has deviated from economic fundamentals, and the government is prepared to take stabilization measures in the event of excessive market volatility.

Japanese government economic advisor Nagase predicts that the Bank of Japan will raise interest rates by the end of this year, followed by another rate hike in the summer of next year, and then pause the rate hike thereafter.