According to BlockBeats, on July 17th, data from Farside Investors showed a total net inflow of $79.1 million into US spot Bitcoin ETFs yesterday. Specifically, BlackRock's IBIT saw a net inflow of $33.4 million, Fidelity's FBTC a net inflow of $30.7 million, and Bitwise BITB a net inflow of $15 million. Other ETFs saw no inflows.

Regarding Ethereum ETFs, a total net outflow of $28 million occurred yesterday. Among them, FETH saw a net outflow of $11.2 million, ETHE a net outflow of $4.8 million, and the ETH Fund a net outflow of $14.3 million; ETHW recorded a net inflow of $2.3 million, while BlackRock ETHA saw no inflows.

According to BlockBeats, on July 17th, Lookonchain monitoring revealed that a16z-linked whale, which had previously accumulated a large amount of HYPE, has begun reducing its holdings. Over the past two days, this whale has deposited 437,000 HYPE tokens, worth approximately $28.38 million, into Hyperliquid, OKX, Bybit, and Gate, seemingly for the purpose of selling off its holdings.

According to BlockBeats, on July 17, the conflict between the US and Iran continued to escalate. The US military further attacked Iranian transportation and military supply facilities, while Iran threatened that the Strait of Hormuz would not return to normal navigation and demanded that the Houthi rebels prepare to block the Bab el-Mandeb Strait, creating a situation where two of the world's most important energy shipping routes are under pressure simultaneously. Although the White House stated that Iran still hopes to reach an agreement with the US, the simultaneous escalation of the battlefield and diplomatic negotiations indicates that both sides are using military pressure to gain leverage in negotiations, rather than genuinely reducing the risk of conflict.

What truly deserves market attention is no longer just short-term fluctuations in oil prices, but the fact that the global energy supply chain is rapidly entering a restructuring phase. Chevron's investment in Iraqi oil fields, the Gulf states' planning of new oil pipelines, and the accelerated development of alternative transportation routes by various countries all reflect that the energy market has begun to regard the "normalization of the Hormuz risk" as a long-term premise. This means that future energy costs may remain at a high level, and even if some shipping routes resume, it will be difficult to completely eliminate the supply security premium.

On the other hand, while US retail sales in June slightly missed expectations, core consumption, excluding energy factors, remained robust, and initial jobless claims fell to a near two-month low, indicating that US domestic demand and employment remain resilient. This means that the US economy has not yet shown signs sufficient to force the Federal Reserve to shift to an easing stance.

More importantly, several Federal Reserve officials reiterated that a month of cooling inflation is insufficient to prove that price pressures have subsided. Logan publicly supported a moderate rate hike, while Schmid and Vice Chairman Jefferson also warned that policy could tighten again if energy prices push inflation up once more. The market has currently lowered its rate hike expectations due to recent cooling CPI and PPI figures, but the Fed is focused on inflation risks over the next few quarters, not just single-month data.

From a market perspective, the biggest contradiction lies in the fact that financial markets are still betting on unchanged policies, but energy supply risks, capital demand driven by AI investment, and still robust US consumption collectively create conditions for renewed inflation. If energy risks continue to escalate, the divergence in expectations between the Federal Reserve and the market regarding the interest rate path may further widen, and global risk assets will continue to face a pricing environment characterized by both high funding costs and high volatility.

According to BlockBeats, on July 17, Bank of America analyst Vivek Arya raised AMD's price target, stating that strong demand for AI servers, increased EPYC processor market share, and improved supply visibility could drive the company to deliver better-than-expected results again.

BofA raised its price target for AMD from $550 to $620 and maintained its Buy rating. The bank believes AMD is not just a CPU resurgence trader, but is becoming a more complete AI infrastructure provider. Its EPYC server CPUs, Instinct AI accelerators, and the upcoming MI455X Helios rack-scale solution are likely to be the core of its next phase of growth.

Arya anticipates that AMD's Q3 guidance may include initial shipments of the MI455X Helios, and states that if demand and supply are fulfilled smoothly, the company's quarterly AI revenue could reach over $6 billion to $7 billion by the end of Q4. BofA also believes that academia's AI workloads will increase demand for data center CPUs, further expanding AMD's server CPU market opportunities.

According to BlockBeats, on July 17th, Hyperinsight monitoring showed that SpaceX (SPCX), which has been listed for just over a month, saw its decline deepen this week. On Wednesday, SPCX's stock price fell below its IPO price of $135 for the first time since its listing, closing at $135.27. The decline continued on Thursday and spread into after-hours trading.

SPCX briefly dipped below $120 in the morning session before recovering to a current price of $126.20. It was down approximately 11.1% from its IPO price of $135, down about 25.4% from its first-day closing price of $160.95, and down about 46.8% from its all-time high of $225.64.

Amid the market downturn, during Thursday's trading session and after-hours, two SPCX long positions (0x5adb) (0xb760) were liquidated, totaling 38,896.4 SPCX contracts. The total liquidation amount was $4.9723 million, resulting in a loss of $599,700. Details of the two liquidations are as follows:

The whale that was the first to be liquidated, starting with 0x5ad, did not exit the market. Approximately 2.5 hours later, it repurchased 14,546.44 SPCX tokens at an average price of $131.09, with a trading volume of $1.9069 million, and held it with an 8x leveraged isolated margin strategy. The current position is worth $1.8355 million, with a floating loss of $71,400. The liquidation price is $117.6, approximately 6.75% below the current price.