According to BlockBeats, on August 6, SoftBank's Vision Fund reported a first-quarter profit of ¥5.43 billion, a sharp drop of 99% year-on-year.

According to BlockBeats, on August 6th, the US added 44,000 jobs in July according to ADP, indicating a continued cooling of the job market. However, Federal Reserve officials have successively released hawkish statements. Kashkari, Cook, and Daly all emphasized that if inflation does not continue to improve, further interest rate hikes cannot be ruled out. This has made the market realize again that an economic slowdown does not mean that monetary policy will immediately turn to easing.

Meanwhile, the U.S. Treasury announced it would maintain its pace of Treasury bond repurchases and issuance, indicating that the market will continue to absorb a large supply of U.S. Treasury bonds in the short term. The continued high long-term yields also suggest that financial conditions are tightening through market mechanisms. Currently, what truly affects global asset valuations is not just whether the Federal Reserve raises interest rates, but rather the combined effect of massive government financing needs, long-term interest rates, and market risk premiums driving up global capital costs.

Geopolitically, while Iran and Oman are close to reaching a shipping agreement in the Strait of Hormuz, the waterway remains under temporary arrangements, and the full resumption of navigation depends on the progress of US-Iran negotiations. Even if the risk of supply disruptions has decreased, Iran's attempt to gain more control over the waterway and toll collection means that uncertainty in the global energy supply chain has not been eliminated, and energy prices may still fluctuate due to policy changes and the progress of negotiations.

From a market structure perspective, global funds are currently facing an environment where high capital costs, continued government financing, AI infrastructure expansion, and energy geopolitical risks coexist. Fund allocation will place greater emphasis on capital efficiency and cash flow quality, while highly valued and highly leveraged assets will continue to face significant discounting pressure. In the cryptocurrency market, ETFs saw net inflows of $475 million in the past week and $922 million in the past month, indicating that short-term institutional funds are continuing to replenish risk assets. However, a cumulative outflow of $7.932 billion in the past quarter suggests that large funds maintain a relatively conservative allocation attitude towards the overall market. This also means that the market is not currently experiencing a comprehensive recovery in risk appetite, but rather is continuously seeking a new asset pricing balance among global liquidity, long-term yields, and policy uncertainty. Bitcoin will continue to be dominated by changes in dollar liquidity, global capital costs, and risk appetite in the short term. Whether ETF funds can gradually shift from short-term replenishment to a trend of inflows will be a crucial indicator to observe in the subsequent market.

According to BlockBeats, on August 6th, based on Bitget data, the Nikkei 225 index closed down 617.18 points, or 0.93%, at 65683.26 points; Kioxia fell over 9%. The South Korean KOSPI index closed down 302.82 points, or 4.59%, at 6295.44 points on August 6th (Thursday); the KOSDAQ index rose slightly by 0.26%; SK Hynix fell 10.3% and Samsung Electronics fell 6.3%.