ABL阿布辣2020

The cryptocurrency world in recent years can be said to have magnified human nature to the extreme. You think you are trading, but in reality, you are battling your own greed, fear, and luck. During a bull market, everyone feels like a genius, every random purchase goes up, and once leverage is applied, the world is yours. Not long ago, there were countless stories about financial freedom, but now it has turned into a reality show of forced liquidations. Huang Licheng, 335 liquidations. You read that right, it's not 3 times, not 35 times, but 335 times. This is no longer trading; this is being repeatedly educated by the market, and every lesson is very expensive. From once making 1.4 billion to now losing 1 billion, the period in between is not called volatility; it's called a plot twist in life. What's even harsher is that the account is left with only 30,000 dollars. The cruelest part of the market has never been whether you will lose, but rather that it will make you believe you won't lose when you are winning a lot. Then you slowly increase your position, amplify your leverage, boost your confidence, and in the end, take everything back in one last go. Many people laugh at such stories, but if you break down the elements of leverage, frequent trading, and emotional highs, it's really just amplifying the mistakes that most retail investors make by 100 times. The market has never lacked geniuses; what it lacks are those who can survive until the end. Some people lose because they can't understand trends, some lose because they can't control risks, but more people lose because they don't know when to stop, which is very similar to day trading in the stock market, where they always believe they will win. 335 liquidations are not just a record. It's more like a reminder that if you don't have risk control, the market will do it for you. What you earn by luck will ultimately be lost by skill. $ETH

U.S. Congressman Nick Begich (Republican - Alaska) officially introduced the American Reserve Modernization Act (ARMA) on May 21, aiming to transform President Trump's strategic Bitcoin reserve executive order signed in March 2025 into a codified law with long-term legal effect, providing a solid foundation for establishing a permanent strategic Bitcoin reserve for the United States. The bill has bipartisan support and currently has more than a dozen co-sponsors in Congress. It will assign the Treasury Department to manage the Bitcoin reserve and establish a separate digital asset reserve for other federal-held crypto assets besides Bitcoin. Begich directly compares Bitcoin to gold, asserting that the market has clearly identified both as the dominant store of value in their respective asset classes. In an interview with Fox Business Channel, he stated: "Look at gold, it is the dominant precious metal reserve asset. Bitcoin accounts for about 60% of the total market capitalization of the entire cryptocurrency market. The market has made its choice; whether gold or Bitcoin, both are the primary stores of value in their asset classes." The ARMA bill is an upgraded version based on the previous BITCOIN Act. In March 2025, Begich and Wyoming Senator Cynthia Lummis jointly proposed related legislation. The new bill authorizes the Treasury to purchase up to 200,000 Bitcoins annually over five years, with the ultimate goal of accumulating 1 million Bitcoins—approximately 5% of the total global Bitcoin supply. All held Bitcoins will be locked for at least 20 years and cannot be sold. Currently, the U.S. government holds about 328,000 Bitcoins, mainly seized by law enforcement, including assets recovered from the Silk Road case and the 2022 Bitfinex hack. These Bitcoins currently lack a unified strategic management plan. Co-sponsor, North Carolina Congressman Pat Harrigan, emphasized the urgency of this issue: "The U.S. government already holds billions of dollars worth of seized Bitcoins but lacks a coherent management strategy. This situation must change." The bill's introduction comes amid a peak wave of crypto-friendly legislation in Washington. On May 13, the Senate Banking Committee passed the Digital Asset Market Clarity Act with a bipartisan vote of 15 to 9, paving the way for a regulatory framework for the crypto industry. Senator Lummis indicated the bill might reach a full Senate vote by mid-June, although she acknowledged this timeline might be optimistic. Meanwhile, the Treasury is intensifying efforts against crypto-related illicit financial activities. Under the "Operation Economic Fury," the U.S. has seized nearly $500 million in Iran-related crypto assets as of the end of April, further highlighting the government's need to develop a comprehensive digital asset management strategy. The White House has also signaled that specific operational details of the strategic Bitcoin reserve will be officially announced soon, with a senior official revealing that major legal obstacles have been cleared. $BTC #披萨节狂欢：预测哈希能赢BTC，你敢预测一下吗？

According to multiple media reports, including Xinhua News Agency, Reuters, Eastmoney, Lianhe Zaobao, etc., Kevin Warsh will be officially sworn in as the Federal Reserve Chairman at the White House, presided over by President Trump, on May 22, 2026 (today) local time.  • Time Correspondence: Around 11:00 AM Eastern Time (ET), corresponding to 11:00 PM Beijing Time (UTC+8) the same day.  • Background: Chairman Powell's term ended on May 15, and he is currently serving as interim chairman during the transition. Warsh was confirmed by the Senate with a 54:45 vote on May 13, with a 4-year term. This is an important event in the policy transition promoted by the Trump administration. The market is closely watching the direction of monetary policy after Warsh takes office (such as interest rate cut expectations, regulatory stance, etc.). The expected impact of Warsh's appointment on risk markets (stock market, cryptocurrency, etc.) shows a dual nature of "short-term uncertainty/pressure, medium- to long-term depending on policy implementation." Warsh's policy characteristics (a mix of hawkish and dovish): Short-term dovish: Supports interest rate cuts to stimulate the economy, aligning with the Trump administration's preferences. May promote a "rate cut + balance sheet reduction" combination, attempting to lower short-term interest rates while reducing the Fed's balance sheet size. Structurally hawkish: Long-term advocate for a smaller Fed balance sheet (opposes excessive QE), emphasizes inflation control, and reducing market intervention. Has previously criticized zero interest rates and excessive easing. Personally holds crypto assets (has committed to divest), and has viewed Bitcoin and others positively as part of the financial system, but this does not directly determine monetary policy. Currently, US inflation is above target (recent data is high), energy prices are volatile, and employment is uneven. Market expectations for rate cuts in 2026 have significantly cooled, with even the possibility of rate hikes. Warsh's first FOMC meeting after taking office will be a key "test." Short-term stance is mainly wait-and-see, paying attention to inflation data, yield trends, and Warsh's first public speech. Risk markets prefer "certainty," and increased volatility during the transition period is normal. If policy implementation leans toward "rate cut dominance," risk assets still have room to rebound; otherwise, adjustments may continue. #加息重回讨论桌：美债利率逼近19年高点 #美股、美債背離 $BTC

Divergence Between U.S. Stocks and U.S. Treasuries In the global financial markets, the movements of U.S. stocks and U.S. Treasuries typically show a certain correlation, providing diversification benefits to investment portfolios. However, when a clear divergence occurs between stocks and bonds, it often signals differing market views on economic outlook, inflation expectations, and policy direction. Recently, U.S. stocks have demonstrated relative resilience, while Treasury yields have surged significantly, creating a classic "strong stocks, weak bonds" divergence pattern. This phenomenon not only reflects the complexity of the current macro environment but also warrants in-depth analysis by referencing historical cases. Current Overview of U.S. Stocks and Treasuries Divergence: As of May 2026, major U.S. stock indices like the S&P 500 remain volatile at high levels, at times approaching or hitting all-time highs. The market is primarily supported by AI-related tech giants, with investors optimistic about productivity gains and corporate profit growth. In contrast, the Treasury market faces significant selling pressure, with the 30-year Treasury yield breaking above 5%, reaching a peak of 5.18%–5.19%, the highest since 2007; the 10-year yield has also risen to around 4.6%. Bond prices have fallen, long-term yields have risen rapidly, and the safe-haven function is being questioned. This stock-bond divergence essentially reflects a conflict in asset pricing logic: the stock market focuses on micro-level corporate growth and tech narratives, while the bond market is more sensitive to macro risks, including rising inflation, expanding fiscal deficits, and supply pressures. Main Causes of the Divergence: First, inflation and energy price pressures are key drivers. Geopolitical factors (such as conflicts related to Iran) have pushed oil prices higher, reinforcing market inflation expectations. The bond market quickly priced in higher inflation premiums, causing long-term yields to rise; meanwhile, the stock market views AI-driven productivity improvements as partially offsetting cost pressures, treating them as short-term disturbances. Second, the U.S.'s high fiscal deficit and ongoing debt issuance have intensified long-term supply pressures. Potential tax cuts and spending policies further push long-term yields higher, steepening the yield curve. Third, expectations for Fed rate cuts have been repeatedly delayed, with even some pricing in slight rate hikes; short-term rates remain relatively stable, but long-term rates are dominated by inflation and fiscal factors. Lastly, asset concentration amplifies the divergence: a few tech giants support the stock indices, while the bond market reflects systemic risks across the broader economy. Historical Cases of Stock-Bond Divergence: Historically, stock-bond divergence is not uncommon and offers valuable references. The 1994 "Bond Massacre" is a classic example. The Fed unexpectedly raised rates to combat inflation, causing long-term yields to surge 150–200 basis points and bond prices to plummet. However, U.S. stocks only experienced a mild pullback before resuming their upward trend. The stock market benefited from economic growth expectations, while the bond market bore the brunt of rate and inflation shocks, closely paralleling the current situation. The 2013 "Taper Tantrum" is also noteworthy. When the Fed hinted at tapering quantitative easing (QE), the market anticipated earlier rate hikes, and the 10-year Treasury yield quickly rose from about 1.6% to 3%. Despite severe bond market volatility, stocks rose approximately 30% that year, as investors interpreted the policy shift as a positive signal of economic strength. Ultimately, yields stabilized, and the bull market continued. 2022 serves as a cautionary tale. Facing high inflation, the Fed aggressively raised rates, causing both stocks and bonds to fall simultaneously, resulting in a rare "double whammy" for stocks and bonds. This year highlighted the failure of traditional negative stock-bond correlation diversification in a high-inflation environment, with 60/40 portfolios significantly underperforming. Over the longer term, since the 1870s, stock-bond correlations have mostly been positive or near zero. The low-inflation, low-rate era from 2000 to 2020 showed more pronounced negative correlation, but this was relatively exceptional. During the stagflation period of the 1970s, stocks and bonds often moved in tandem; despite stock volatility, some energy and commodity sectors provided support. Risks and Insights from the Divergence: History shows that stock-bond divergence can persist short-term, with stocks often "ignoring" bond market warnings amid optimistic narratives. However, if long-term yields continue rising (e.g., breaking above 5.5%–6%), this will increase corporate financing costs, suppress valuations, and potentially trigger stock market corrections. Although AI concentration currently provides support, it also amplifies systemic risks. For investors, caution is warranted in this environment. In the short term, closely monitor tech giant earnings, geopolitical developments, and Fed signals. Portfolio-wise, consider moderately increasing cash or short-duration bonds to diversify concentration risk and contemplate using hedging tools. In a high-rate era, bonds offer higher yields but carry interest rate risk; stocks require vigilance against overvaluation and widening divergences. $BTC #美债利率近19年新高：风险资产全线承压

US Treasury 5% defense line completely breached! Bank of America calls it doomsday, Goldman Sachs says buy, Japan directly sells off Bank of America Chief Strategist Michael Hartnett wrote about the "Maginot Line" in his Flow Show weekly report last week. He was referring to the 5% yield line on the 30-year US Treasury bond. Once this line is "seriously broken," the gates of doomsday will open. On May 14, the yield rose to 5.16%, the highest since 2007. The gate has opened. So how will the biggest buyers watching the US Treasury market react? Completely different reactions The 5% defense line is broken, and each institution reacts differently. Barclays warns that the 30-year yield could surge to 5.5%, BNP Paribas strategist Guneet Dhingra is more direct: "There is no anchor point above 5%." He advises clients to look at 5.25% to 5.5%. Steven Barrow, Head of G10 Strategy at Standard Bank London, predicts the 10-year will also break 5% this year, meaning the entire yield curve is shifting upward. But Goldman Sachs says some long bond indicators have already shown allocation value. They maintain a neutral rating with a slight preference for curve steepening, adding: if the labor market weakens further, US Treasuries could rebound. Yardeni Research President Ed Yardeni is even calmer, saying he is "not scared," believing the 10-year normal range is 4.25% to 4.75%, and near 5% is actually a buy-in point for both stocks and bonds. And the "Bond King" Jeff Gundlach doesn’t even bother to talk about buying; in his annual webcast he said: "Holding cash is better than holding 30-year US Treasuries." His 2026 allocation advice? 20% cash plus hard assets. The 2-year will outperform the 30-year. Five completely contradictory conclusions have emerged above. This is the real signal, not the 5% itself, but Wall Street’s complete lack of consensus on what to do after 5%. When the smartest group in the market fundamentally disagrees on direction, it usually means they themselves are uncertain. Japan has already acted Everyone is watching 5%, 5.5%, maybe 6%, but the biggest structural change in the US Treasury market in 2026 is in the buyers. Japanese investors net sold $29.6 billion worth of US Treasuries, agency bonds, and municipal bonds in Q1, the largest quarterly reduction in nearly four years. Japan is the largest overseas holder of US Treasuries globally, holding about $1 trillion. The reason is simple: the Bank of Japan continues to raise rates, and the domestic 30-year JGB yield has surged to 4.2%, a historic high since issuance in 1999. If you are the CIO of a Japanese life insurance company, your home country’s long bonds can already give you a 4.2% yield with zero currency risk and zero credit risk. Why would you buy something with only about 1% higher yield but with the risk of dollar depreciation? TD Economics estimates that Japan’s gradual withdrawal from the US Treasury market could push the US 10-year yield up by 20 to 50 basis points in the medium term. Fortune’s headline last week was even more blunt: "America’s largest foreign creditor (Japan) may soon sell US Treasuries and bring the money home." The US Treasury market has built a psychological defense line that "5% is the bottom line," but what really shakes US Treasuries is the shift in buyer structure. The interest bill is already scarier than you think If you think yields are just a trader’s matter, take a look at the US government’s own bill. Federal debt is $38.4 trillion. The annual deficit exceeds $1.7 trillion, about 6% of GDP. Interest payments alone will exceed $1.2 trillion in 2026—more than the defense budget. Jamie Dimon said to CNBC on April 28: "Some kind of bond crisis is coming, and then we will be forced to deal with it." Ray Dalio’s numbers are more specific; he said if the deficit is not cut from 7.5% of GDP to 3%, "we are very likely to face a severe debt crisis in the coming years." He pointed out that interest payments are squeezing public services, and the government is trapped by its own signed bills, unable to move. BlackRock CEO Larry Fink admitted in his annual letter to investors earlier this year that the market underestimates the moment when fiscal policy (not monetary policy) becomes the core risk. If international investors start questioning the US fiscal trajectory, foreign holdings could significantly decline. He also left a caveat: if the US can maintain 3% annual growth for ten to fifteen years, the debt-to-GDP ratio will actually shrink. 3% growth rate, for fifteen consecutive years. In an environment where inflation sticks at 3.8%, oil prices keep rising due to Middle East tensions, and 30-year mortgage rates stay above 6.1%. Judge for yourself whether this assumption is reasonable. New referee takes the stage Kevin Warsh officially took over as Fed Chair on May 13. Powell’s era ended on May 16. Warsh is hawkish. The market consensus is that he tends to keep rates high longer, ensuring inflation is thoroughly crushed before considering rate cuts. But the situation Warsh faced on his first day was worse than anyone expected. Energy supply disruptions, AI-driven capital demand, plus huge fiscal deficits—all three lines are pushing up global borrowing costs simultaneously. Warsh’s statements at the Senate hearing temporarily calmed the market; the 10-year yield briefly stabilized after his confirmation. Investors temporarily bought into his claim of "maintaining Fed independence." FAQ ⚠️ What does the 30-year US Treasury yield breaking 5% mean? The 30-year yield at 5.16% is the highest level since 2007. Bank of America strategist Hartnett calls it the "gate of doomsday." Historically, similar yield surges (Japan 1989, US 1999, China 2007) marked the end of boom cycles, but currently Wall Street has no consensus on the subsequent trend. What impact does Japan selling US Treasuries have on the market? Japan is the largest overseas holder of US Treasuries $BTC

Just saw this in an article: Ethereum $ETH just received a TD Sequential indicator buy signal. I think a rebound might occur next. So what exactly is the TD Sequential indicator? TD Sequential is a trend reversal indicator developed by technical analysis master Tom DeMark, also often called the "Magic Nine Turns" or TD9/TD13. It is mainly used to identify the market trend's "exhaustion points" and predict potential reversal timing. The basic principle of TD Sequential: Unlike moving averages or RSI, which directly measure momentum or overbought/oversold conditions, it judges whether a trend has gone on too long or too extreme through "time counting," thus possibly reversing. The indicator is divided into two main phases: 1. Setup phase (activation/preparation phase, usually labeled 1~9): • Buy Setup (bullish reversal signal): 9 consecutive candlesticks, each closing price lower than that of the 4 candlesticks before it (indicating sustained selling pressure in a downtrend but possibly nearing exhaustion) • Sell Setup: conversely, 9 consecutive closes higher than the previous 4 (uptrend exhaustion) • When "9" is completed (TD9), it is often regarded as an important reversal warning point. 2. Countdown phase (countdown phase, usually labeled 1~13): • Starts only after Setup is completed. • Buy Countdown: Counts 13 candlesticks meeting specific conditions (such as closing below the low of 2 candlesticks prior, etc.) A "13" completion signals even stronger. • This phase provides a more precise low-risk entry point. There are also enhanced rules like "Price Flip" (price reversal) conditions to reset the count, and "Perfected Setup" (strong Setup) among others. Why does the price tend to rise after a buy signal (TD Buy Setup 9)? • Trend exhaustion logic: A Buy Setup 9 after continuous decline means sellers have been pushing prices down hard for some time (statistically reaching an extreme) Buyers start to have a chance to take over, and selling pressure gradually exhausts. • Increased reversal probability: Historically, after TD Sequential 9 or 13 completes, trend reversals or at least short-term rebounds often occur. Its design is to capture moments of "overextension." • Psychological and self-fulfilling effect: Many traders (especially institutions or technical traders) pay attention to this indicator, and when the signal appears, buying surges in, pushing prices up, creating a positive feedback loop. This time Ethereum shows a buy signal, indicating a short-term chance of rebound or reversal, but ultimately it depends on overall market conditions (such as macro factors, Bitcoin trends, and ETH's own fundamentals). Note: It is not a 100% accurate indicator, just a tool to increase reversal probability. False signals (especially in strong trends) still exist. Best used in conjunction with other confirmations (like volume, support levels, larger time frames, etc.). $ETH #推迟打击非停战：美伊本周窗口待定

"Altcoins are dead, burn some paper if you have issues 🔥" Until the last bear market bottom, the entire crypto space was full of big ups and downs. But this cycle is "very different." The usual sequence of Bitcoin, Ethereum, then altcoins hasn't played out well in the altcoin season after waiting two years. What's the reason? The overall structure of the crypto space has changed since the "approval of the Bitcoin spot ETF." . Starting from the last bear market, institutional and ETF funds have taken up an increasing share. Previously, big players were mostly "speculators." After making money on the mainstream, they would take profits to speculate on altcoins. But now, the hot money that should have flowed into altcoins and "dream projects" is gone, locked tightly inside ETFs. Let's not even talk about national and corporate strategic reserves for now. These institutional funds are not here to play heavy all-in bets with you. They are here for hedging and asset allocation. So after ETFs came out, the Bitcoin bear market may not see as large a drop as in previous years, but altcoins probably won't rise either. Funds are stuck in an extremely rational framework. . Meanwhile, many black holes outside are sucking up capital. First is the AI industry, second is gold. Previously, less conservative institutions would take some spare cash to invest in a few blockchain projects, hoping for tens of times returns. But now these VCs have two options on the table: one is a certain decentralized finance protocol whitepaper, and the other is an AI large model computing power center proposal. Which do you think capital will choose? . What the world lacks most now is not code, but "electricity" (energy) and "computing power." AI training requires massive electricity and computing power, which completely overlaps with Bitcoin mining resources. So you see many mining farms surrendering and transforming into AI computing power centers. AI has absorbed the money originally meant for crypto speculation, even competing with crypto for underlying hardware resources. . When you see Bitcoin's price barely moving, and altcoins dropping like dog poop, you can't use the 2021 logic anymore: Bitcoin rises, then Ethereum, then altcoin season explodes. Now Bitcoin's market cap is over $1.5 trillion, total crypto market around $2.6 trillion. Liquidity and capital scale are not comparable to 2021. Because the money that could multiply dozens of times before would only multiply eight times in Bitcoin's current market cap, which is already impressive. So whose money is pumping Bitcoin? Obviously, it's the Wall Street big players. . Currently, exchange reserves have dropped to nearly a seven-year low. Low reserves are not good for traders. When reserves decrease, the 30-day realized volatility also drops. From the classic Bitcoin rainbow chart, the peak colors achievable in each bull market are getting lower. This means if you want to achieve 100x or 1000x in crypto, there's only one way left: "perpetual contracts." But once you start "leveraging," you must understand one thing: you're just a Kaiji without the spotlight. $BTC

Artificial intelligence can not only help you write code and create presentations but now it’s also going to help you manage your wallet! OpenAI officially announced today (the 15th) the launch of a brand-new "Personal Finance Experience" preview for ChatGPT Pro users in the United States. This long-anticipated major feature marks this AI giant’s official entry into consumers’ real financial lives. Connecting thousands of banks to create an all-in-one "Financial Dashboard" In the past, over 200 million people per month used ChatGPT to ask about budgeting or investment advice, but due to the lack of "real data," AI could only offer generic canned advice like "cut back on eating out, cancel subscriptions." To solve this pain point, OpenAI chose to partner with financial data infrastructure giant Plaid. Users can now securely connect ChatGPT to more than 12,000 financial institutions. Once synced, a dedicated "Dashboard" will appear inside ChatGPT allowing users to clearly see: Portfolio performance Monthly expenses and cash flow categorization Current subscription services Upcoming bills and payments Powered by GPT-5.5: Understands your life and gives real advice This new feature uses OpenAI’s latest GPT-5.5 Thinking reasoning model by default. The model has undergone internal benchmark testing by over 50 financial professionals and can handle highly context-dependent complex questions. For example, after connecting your accounts, ChatGPT might find that you’ve spent too much on "eating out" in the past two months. It won’t just tell you to save money but will give precise targets: "It’s recommended to keep eating out under $450 per month and shopping under $300, so you can expect to save an additional $500 to $750 each month." It can even calculate your monthly mortgage repayment plan. Additionally, the system introduces a "financial memory" feature where users can tell the AI "I want to buy a car next year" or "I owe money to family," and this context will make future conversations more coherent. Ultimate privacy protection and future vision Facing sensitive financial data, OpenAI emphasizes the highest level of security protection: Read-only access: ChatGPT can only read balances, transactions, and liabilities and cannot see your full account details nor can it modify accounts or move funds. Disconnect anytime: Users can disconnect the link anytime in settings, and the system will completely delete all synced data within 30 days. Controllable model training: Whether data is used for model training fully depends on the user’s existing privacy settings. OpenAI’s ambition goes beyond providing advice and aims to help users "take action." The company revealed plans to integrate recommended credit cards and directly assess approval chances, and even assist in booking tax experts from partner Intuit when users ask about tax issues related to selling stocks. This feature is currently available in preview to ChatGPT Pro users in the U.S. (on web and iOS versions) and will gradually expand to Plus users based on feedback before eventually opening to everyone. However, OpenAI also specifically reminds that ChatGPT is designed to help users understand their situation and cannot replace professional, licensed financial advisors. #OpenAI庭审进入闭幕陈述

2026 FIFA World Cup Final Halftime Show: The Most Dreamlike Night in Music History On July 19, 2026, New York's MetLife Stadium will capture the world's attention. When the whistle blows to end the FIFA World Cup final, a once-in-a-century Super Bowl-level halftime performance will take the stage—Madonna, Shakira, and BTS, three legendary acts, will come together to deliver the strongest halftime show ever! Pop queen Madonna leads with her timeless rebellious style, Shakira ignites the crowd with her passionate Latin dance moves, and BTS's seven members bring a stage energy that transcends language. These three distinct musical cultures converge on the world’s biggest stage, symbolizing that music knows no borders and echoing this World Cup’s core spirit: "The World’s Biggest Stage • An Even Bigger Purpose." Curated by Coldplay’s lead singer Chris Martin and in collaboration with Global Citizen, this performance is not only a feast for the eyes and ears, but will also raise funds for global children's education and football opportunities, making music and football true forces for changing the world. On this night, we will not just be spectators; we will witness history together. FIFA World Cup 2026 Final Halftime Show July 19th, 2026 Presented by Global Citizen #SEC双线监管：链上定义与预测市场 $BTC

Oracle (ORCL) is facing massive debt pressure due to AI infrastructure expansion, a hot market topic for 2025-2026, mainly stemming from its huge collaboration with OpenAI. Book Debt: As of around the end of November 2025, outstanding bonds and other borrowings amount to approximately $108 billion, making it one of the largest debt loads among big tech companies. Long-term debt at the end of fiscal year 2025 was about $92.6 billion, then rapidly increased to over $100 billion (some data shows Q3 FY2026 long-term debt reaching $12.47 billion). Additional Commitments: There are about $248 billion in future data center lease obligations, with total financial obligations possibly approaching $400 billion in scale. Recent Financing: Issued $18 billion in bonds in September 2025, planning to lend another $38 billion for OpenAI-related data centers (projects in Texas and Wisconsin). The overall plan for 2026 is to raise $45-50 billion (half debt, half equity). Market Reaction and Risks Wall Street Absorbing Pressure: Banks (such as JPMorgan Chase) find it difficult to share the massive loans, with single counterparty exposure limits pushed to the edge. Some debt is structured as project financing (not directly on Oracle’s balance sheet) but still affects credit perception. Litigation and Credit Concerns: In early 2026, bondholders collectively sued Oracle, accusing it of concealing subsequent massive financing plans when issuing the $18 billion bonds, causing bond prices to drop. Credit default swap (CDS) costs surged temporarily, with some bond spreads nearing junk bond levels. Other Challenges: Data center delays, partner withdrawals (such as Blue Owl), power supply constraints, and whether AI demand can quickly translate into revenue are all market pain points. $BTC #超级事件周

Short positions have accumulated again and are holding strong The leading big player can go for a breakout to make some extra profit Predicting a possible rise this week 📈 $BTC #CLARITY法案：委员会15:9表决通过