币股风向标丨Strategy bán hơn 2 tỷ USD BTC; Metaplanet sau mười tuần lại mua thêm; Bitmine tuần trước mua thêm hơn 42.000 ETH (Ngày 7 tháng 7)
- Quan điểm chính: Thị trường hiện tại bị chi phối bởi chip và bộ nhớ, cổ phiếu Hàn Quốc điều chỉnh sâu do đòn bẩy quá mức, cổ phiếu công nghệ Mỹ phân hóa, thị trường tiền mã hóa thiếu sự sôi động, lượng nắm giữ BTC của các công ty niêm yết có sự phân hóa, một số doanh nghiệp chuyển hướng sang cơ sở hạ tầng AI.
- Các yếu tố then chốt:
- Cổ phiếu Hàn Quốc lao dốc: Chỉ số KOSPI của Hàn Quốc giảm 8% kích hoạt cắt mạch, giá cổ phiếu Hynix giảm hơn 28% so với đỉnh, cổ phiếu Samsung giảm 8% sau khi báo cáo lợi nhuận vượt kỳ vọng, vốn ngoại tháo chạy trong khi nhà đầu tư lẻ "bắt đáy".
- Sự chuyển dịch cổ phiếu dẫn dắt tại Mỹ: Cổ phiếu chip trở thành nhóm dẫn dắt mới của S&P 500, 8 trong số 10 cổ phiếu hoạt động tốt nhất năm nay đến từ ngành chip, Citigroup lạc quan về Micron, bi quan về Qualcomm.
- Thị trường tiền mã hóa trầm lắng: BTC phục hồi nhẹ lên trên 64.000 USD, cổ phiếu khái niệm tiền mã hóa phục hồi yếu, thị trường hoạt động thấp, hợp đồng quyền chọn GEX tập trung ở vùng 60.000-63.000 USD.
- Thay đổi kho bạc BTC của công ty niêm yết: Strategy bán ra hơn 2 tỷ USD BTC trong một tuần, Metaplanet lần đầu mua BTC sau mười tuần, K Wave Media thanh lý rút lui, các công ty trong năm nay mua ròng gần 167.000 BTC.
- Doanh nghiệp chuyển hướng sang AI: Empery Digital chi 65 triệu USD đầu tư vào trung tâm dữ liệu AI, K Wave Media chuyển chiến lược huy động vốn từ Bitcoin sang xây dựng cơ sở hạ tầng AI, làm nổi bật cơ hội tăng trưởng sức mạnh tính toán thực tế.
- Tăng nắm giữ kho bạc ETH và SOL: Bitmine mua thêm hơn 42.000 ETH, tổng lượng đạt 5,74 triệu; Forward Industries trong quý này mua thêm 500.000 SOL, tổng lượng đạt 7,55 triệu.
- Cảnh báo rủi ro: Cổ phiếu AVAT của công ty sở hữu kho bạc AVAX giảm 93% trong tháng qua, cảnh báo về nghi ngờ đáng kể về khả năng hoạt động liên tục, kho bạc altcoin đang chịu áp lực lớn.
Editor's Note: In last week's "Crypto-Stock Barometer" article, we mentioned that "South Korean stocks are facing a short-term correction." Over the past week, the South Korean stock market still appears to be in a phase of "violent deleveraging and aggressive bubble squeezing." Although SK Hynix is set to list its ADR on the US stock market on July 10, its price has still experienced a deep correction. Today, South Korea's KOSPI index plummeted another 8%, triggering a circuit breaker. Foreign capital is accelerating its flight, but retail investors are still choosing to "buy the dip for the country." In terms of price, SK Hynix's stock price has fallen to 2.096 million won from its peak of 2.917 million won on June 25, a drop of over 28%. For now, hope rests on the $28 billion in US stock funds expected on the 10th (this Friday) to absorb the selling pressure. As for Samsung, after announcing "Q2 operating profit of 89.4 trillion won, 6% above market expectations," its stock price instead plummeted over 8%. The market widely believes this data has already been fully priced in, dragging the KOSPI down further. From a personal perspective, the two leading South Korean stocks have reached a cyclical low. While further declines cannot be ruled out, they have entered the "buying zone."
On the US stock front, last night's "Trump Account" event held by Trump in the White House office once again injected a dose of adrenaline into the market. During the event, he named Dell (DELL) and Micron (MU), explicitly stating "The market is going to explode," "Short sellers are being liquidated," and "I never liked short sellers because they are betting against the country." SpaceX and Robinhood are also within the "Trump Account" sphere of influence and are expected to benefit long-term from such capital allocations.
Finally, there is also news regarding CXMT mentioned last week. According to reports from South Korean media, CXMT is testing a DRAM packaging production line. This technology and its development speed may be ahead of South Korean competitors such as SK Hynix and Samsung Electronics. The importance level of CXMT's IPO has been raised again and is now on par with the S-class level of SK Hynix's US listing.
As for crypto-related stocks, with BTC prices slightly rebounding above $64,000, MSTR, BMNR, and CRCL have also seen a small rebound. However, given the current market lacking long-term sustainable momentum, the sell-off is likely to continue. With some DAT treasury companies liquidating their holdings, leading to sharp drops in related stock prices, shorting has become another option for investors.
For more information on the crypto-stock market, please visit MSX.COM. (Odaily Note: This article does not constitute investment advice and is for educational and exchange purposes only.)
Stock Market Overview: Chips and Memory Remain Key Themes, Crypto Market Still Lacks Momentum
Chip Stocks Lead the Rally, S&P 500 Could Break 8,000 Points, Institutions Bullish on Micron, Bearish on Qualcomm
The Kobeissi Letter stated that chip stocks have become the new leading sector in this US bull market. Although many stocks within the "Magnificent 7" have fallen over 20% from recent highs, the semiconductor sector has taken over the market leadership baton. In fact, 8 out of the top 10 best-performing stocks in the S&P 500 this year come from the chip industry. As large-cap tech stocks regain market dominance and the semiconductor sector maintains its strength or trades in a high range, the S&P 500 is expected to break through 8,000 points.
Additionally, Citigroup analysts stated in a research report: "Given the expectation that DRAM chip prices will rise in the second half of 2026, we have added Micron Technology to our 'upward catalyst' watchlist. Meanwhile, due to sluggish growth in smartphone sales, we have added Qualcomm to our 'downward catalyst' watchlist." The Citigroup analysts noted: "Fundamentally, demand for AI computing power remains in short supply, as evidenced by the recent 20% price increase for AWS EC2 GPUs. DRAM shortages are the biggest constraint on current computing supply."
View: The Memory Chip Sector May Replicate Nvidia's "Fundamentals Hitting New Highs, Stock Price Consolidating Sideways" Trend
Citrini researcher Jukan stated that current market expectations for the memory chip sector are already at high levels. Regardless of whether earnings reports exceed expectations or not, stock prices may face pressure. If earnings beat expectations, the market might worry about the industry cycle peaking; if earnings fall short, it could be interpreted as the end of the memory chip boom cycle. Jukan also indicated concerns that the memory chip sector would replicate Nvidia's previous trend of "fundamentals continuously hitting new highs, yet the stock price consolidating sideways for an extended period." This means companies keep setting new profit records, but stock performance remains relatively lackluster as market expectations are already fully priced in.
Crypto Market Activity Low This Month, US Stocks and Commodity Prices May Be Worth More Attention
Greeks.live macro researcher Adam stated that based on the open interest distribution, open interest across all maturities is very low until the end of this month, totaling around 15%, indicating low market activity. On the other hand, GEX is concentrated around the $60,000 put option and the $63,000 call option, corresponding to the upper and lower limits of the recent two consolidation ranges. The market may follow external markets closely, making US stocks and commodity prices more noteworthy in the near term.
Weekly Update on Listed Crypto-Treasury Companies
Representative BTC Treasury Companies
Strategy Sells Over $200M BTC in a Week, Metaplanet Buys BTC for First Time in Ten Weeks
According to SoSoValue data, as of 8:00 AM Eastern Time on July 6, 2026, the total net weekly BTC purchases by global listed companies (excluding mining companies) was $10.57 million, a decrease of 27.85% compared to the previous week.
Strategy (formerly MicroStrategy) sold 1,363 BTC on June 30 for approximately $80.8 million, at an average price of $59,256, reducing its holdings to 846,000 BTC. On July 5, it sold another 2,225 BTC for approximately $135 million, at an average price of $60,773, further reducing its holdings to 843,775 BTC.
Japanese listed company Metaplanet announced its first purchase in 10 weeks, investing $225 million to buy 2,823 BTC at a price of $79,664, bringing its total holdings to 40,177 BTC.
Additionally, two other companies bought Bitcoin last week. Brazilian Bitcoin company OrangeBTC announced the purchase of 1 BTC on July 5, with the specific amount undisclosed, bringing its total holdings to 3,897 BTC. Asset management firm Strive announced on July 6 that it spent $1.68 million to purchase 17.76 BTC at a price of $64,761, bringing its total holdings to 19,882 BTC.
As of press time, the total Bitcoin holdings of the monitored global listed companies (excluding mining companies) amounted to 1,141,812 BTC, a decrease of 0.04% compared to the previous week. The current market value is approximately $70.3 billion, representing 5.7% of Bitcoin's circulating market cap.
Empery Digital Accumulated 1,200 BTC Over the Past 6 Days, Worth $72.65 Million
According to Onchain Lens monitoring, Nasdaq-listed Empery Digital (3KPA...NL9c) received another 200 BTC worth $12.84 million. Over the past 6 days, the company has accumulated a total of 1,200 BTC, worth $72.65 million.
Market data shows that listed companies have net bought 166,984 BTC year-to-date, double the 81,153 BTC mined during the same period, with an average daily purchase of 912 BTC.
South Korean Listed Company K Wave Media Liquidates 88 BTC, Exiting Bitcoin Treasury Companies
According to BitcoinTreasuries data, South Korean listed company K Wave Media (KWM) has sold its remaining 88 BTC to repay $6 million in debt. After the sale, the company's Bitcoin holdings dropped to zero, and it exited the ranks of Bitcoin treasury companies.
K Wave Media had announced last year that it secured a $1 billion Bitcoin treasury financing capacity and planned to expand its Bitcoin holdings to 10,000 BTC as soon as possible. However, in May of this year, the company redirected up to $485 million of its remaining financing capacity from the Bitcoin treasury strategy to AI infrastructure construction, including data centers, GPU computing power, and related acquisitions.
American Bitcoin, a Bitcoin mining and treasury company founded by Eric Trump and Donald Trump Jr., announced a 1:15 reverse stock split to be implemented next week to meet Nasdaq's minimum $1 bid price requirement.
The reverse split will take effect after market close on Thursday, and trading will resume under the ticker ABTC at the adjusted price on the following Monday. Under the arrangement, every 15 shares of Class A and Class B common stock will be automatically combined into 1 share, reducing the company's total outstanding shares from approximately 1.09 billion to about 73 million. The split plan was approved at the annual shareholder meeting in June.
American Bitcoin's stock price fell to an all-time low of about $0.64 on Wednesday, with a year-to-date decline of over 64%. The company currently holds 7,500 BTC, making it the 16th largest publicly traded Bitcoin holder globally.
Empery Digital Invests $65 Million in U.S. AI Data Center Project
Nasdaq-listed Bitcoin treasury company Empery Digital announced a definitive cooperation agreement with Hunt Properties, acquiring a 25% equity stake in a new project entity for $65 million. The entity plans to acquire and repurpose industrial properties in the U.S. Midwest to build a dedicated AI data center.
The two parties have established a long-term strategic partnership to jointly develop computing power assets, advance AI and high-performance computing (HPC) infrastructure expansion, and leverage advantages in power supply, grid access, and capital market financing. Meanwhile, Empery Digital announced it would cease its previous practice of publicly disclosing data based on its Bitcoin holdings' Net Asset Value (NAV). The company explained that its current asset structure can no longer be measured solely by Bitcoin holdings and will focus on growth opportunities in AI computing power and energy infrastructure, diversifying into physical computing power businesses.
Representative ETH Treasury Companies
Bitmine Added 42,197 ETH Last Week, Total Holdings Exceed 5.74 Million
Ethereum treasury company Bitmine disclosed adding 42,197 ETH last week. As of June 28, 2026, its total ETH holdings reached 5,742,237, accounting for approximately 4.8% of the total ETH supply.
To date, the total value of Bitmine's cryptocurrency, cash, and other investment assets is approximately $11.1 billion, including $527 million in cash and marketable securities, 206 BTC, $180 million in Beast Industries equity, and a $71 million investment in Eightco Holdings (ORBS). As of July 5, the number of staked ETH reached 4,879,157 (85% of total holdings), valued at approximately $8.8 billion, with an annualized staking yield of about $235 million.
Sharplink Recently Added 10,000 ETH, Total Holdings Rise to Approximately 886,725
Last week, Nasdaq-listed Ethereum treasury company Sharplink (SBET) announced the purchase of an additional 10,000 ETH at an average price of approximately $1,611, bringing its total ETH holdings to about 886,725. Concurrently, the company repurchased 2,132,773 shares of common stock on the open market at an average price of $4.69, bringing cumulative repurchases since the program's launch in August 2025 to 4,071,223 shares.
As of June 28, Sharplink's total ETH holding structure comprised 632,719 native ETH, 181,299 LsETH equivalents, and 72,707 weETH equivalents. The company stated it would continue to pursue its dual-track capital strategy of expanding ETH asset reserves alongside stock buybacks.
Representative SOL Treasury Companies
Forward Industries Added Over 500,000 SOL in Q3, Total Holdings Rise to 7.55 Million
Solana treasury company Forward Industries released its Q3 fiscal year 2026 update. The report shows the company added over 500,000 SOL during the quarter, increasing its total holdings to 7.55 million SOL.
Additionally, the company's fully diluted SOL per share increased to 0.0729 from 0.0669 in the previous quarter, representing a 36% sequential annualized increase. During the same period, the company issued 93,642 common shares through an At The Market (ATM) offering, completing accretive financing at a premium to Net Asset Value (NAV).
Forward stated it will continue to increase SOL per share holdings through open market capital operations (including discounted buybacks and premium issuances) and leverage strategies (using fwdSOL as collateral), while also seeking to broaden institutional capital channels by being included in the Russell 2000 and Russell 3000 indices.
Representative Altcoin Treasury Companies
Hyperliquid Strategies Added 600,000 HYPE in the Last 7 Days, Purchasing Tokens Worth ~$40.6 Million
On July 3, HYPE treasury company Hyperliquid Strategies (PURR) announced the cumulative purchase of 600,000 native tokens HYPE over the past 7 days, with a total value of approximately $40.6 million at current market prices. The accumulation utilized $36 million in cash positions. The institution still holds $149.4 million in cash reserves. Its current adjusted Net Asset Value (mNAV) per share is close to or below 1, so no new shares were issued; all accumulation was completed using existing cash.
