According to BlockBeats, on September 18th, analyst Axel Adler Jr. pointed out that Bitcoin rose from $76,300 to $77,400 in the past 24 hours, with the market's buying and selling forces shifting towards buyers. Short positions accounted for the vast majority of liquidations, and the forced liquidation of traders who predicted a decline actually supported the price increase. The liquidation pressure oscillator rose from +0.48 a day earlier to +54.52 on September 18th, and has remained positive since the morning of September 17th, indicating that the current pattern driven by short covering is continuing.

Analysts also cautioned about the fragility of this advantage, noting that the liquidation pressure oscillator has fallen back to zero, indicating that the liquidation balance will shift back to the bullish side. Forced liquidation of long positions will generate selling pressure and exacerbate the downward trend. This rally is clearly driven by short squeezes, with the buying advantage only established in the past few hours. Whether it can translate into a more sustained upward move depends on whether the liquidation structure can remain in a bullish range.

According to BlockBeats, on September 18th, the MINIMAX contract on Hyperliquid was trading at approximately $37.60, up 15.9% in the last 24 hours, with a trading volume of approximately $6.024 million. This represents a rebound of about 32% from the week's low of approximately $28.40. On the same day, MiniMax's Hong Kong-listed shares rose over 16% intraday.

Today's rise was mainly driven by the concentrated progress of overseas commercialization. Since September, MiniMax M3 has been deployed in Saudi Arabia's HUMAIN Arabic model and Genspark AI Slides. MiniMax Agent, Conch AI, and Audio have also been integrated into Singapore's Singtel AI Pass, continuously covering the Middle East, professional applications, and mass-market AI scenarios, strengthening market expectations for its overseas revenue and ARR growth.

This rebound has recovered the cost basis of major long positions. Of the top 20 addresses by position size, 8 out of 9 long positions are currently showing a profit. The top three long positions have a combined holding of approximately $1.466 million and a profit of approximately $168,000. The break-even point for these long positions is $30-$35.

As of press time, the largest short seller in MINIMAX, 0x708f, held 19,700 short contracts at an average price of $43.3, with a position value of approximately $740,000 and a floating profit of approximately $112,000. Together with 0xaca8 and 0x3e50x641e, the four major short sellers had cost bases between $42.5 and $47.5, totaling approximately $1,540,000 in short positions, with a remaining floating profit of approximately $252,000.

While prices rebounded, contract open interest contracted sharply. The notional size of MINIMAX open interest decreased from approximately $7.178 million on September 16 (the low point) to approximately $5.35 million, a reduction of approximately $1.828 million, or about 25.5%; the funding rate was approximately -0.0148%.

On August 27, JPMorgan Chase raised its target price from HK$260 (approximately US$33.1) to HK$300 (approximately US$38.2), maintaining a "neutral" rating. The current price is close to JPMorgan's target price.

In addition, HSBC lowered its target price from HK$760 (approximately US$96.9) to HK$330 (approximately US$42.1), maintaining a "hold" rating. In the same round of research reports, Citigroup and Jefferies raised their target prices to HK$576 (approximately US$73.4) and HK$533 (approximately US$67.9) respectively, both maintaining a "buy" rating.

On September 7, BNP Paribas initiated coverage with a target price of HK$600 (approximately US$76.5) and an "Outperform" rating. Cathay Haitong lowered its target price from HK$1012 (approximately US$129.0) to HK$449 (approximately US$57.2), while maintaining an "Overweight" rating. Goldman Sachs maintained its "Buy" rating and target price of HK$760 (approximately US$96.9) on September 10, citing continued ARR growth and expectations of improved gross margins due to model updates and inference optimization.

According to BlockBeats, on September 18th, Jiang Zhuoer, founder of BTC.com, stated that the bStock token BNCB, corresponding to BNC (the BNB treasury company), had previously fallen below $5, presenting a rare opportunity with high certainty of profit. He noted that $5.76 was the starting point for the price surge after CZ (Cheer Zhou) retweeted a post about a BNC name change poll, and the likelihood of it falling below that level is low. Furthermore, at $5.76, mNAV (mNAV) was 61%, meaning a further drop would be equivalent to buying BNB at a 50% discount. Therefore, he believes $5.50 to $5.76 is a good buying opportunity.

Furthermore, using leverage to buy small-cap stocks carries significant risk; therefore, I purchased bstock spot, also known as BNCB. I believe CZ and Binance will drive a "crypto-stock flywheel," and I anticipate more related events to follow.

Today, Binance founder CZ stated that he participated in the name change poll for BNB Treasury Company (BNC) as a community member. After weighing several candidate names, he found that his choice aligned with the votes of other community members. CZ expressed his preference for "BNB Standard," stating that the name felt more powerful. BNC previously launched a consultative vote, inviting community suggestions for the company's future name. The candidate names were: BNB Reserve, BNB Strategies, BNB Treasury Company, and BNB Standard. BNC stated that this vote did not constitute a shareholder vote, and the final name still requires board approval and legal review.

Following this news, CEA Industries bStock (BNCB) continued to rise, breaking through $6.50, with a 24-hour increase of 33%.