According to BlockBeats, on July 24th, the South Korean stock market experienced a sharp decline, with SK Hynix falling over 8% and Samsung Electronics dropping over 7%. Some analysts believe the decline is related to a recent bearish report on memory chips released by Shawn Kim, head of technology research at Morgan Stanley's Leo Group, but others argue that the report may not be the direct cause of the market downturn.

In a report released on July 21, Shawn Kim stated that the AI-driven memory chip boom cycle is nearing an inflection point, with memory contract prices likely to peak in the fourth quarter. The percentage of upward revisions to earnings forecasts has decreased from 92% to 77%. The report also noted that NAND module manufacturers' inventories have risen to approximately 13 weeks, approaching the peak of around 15 weeks during the pandemic, and proposed a trading strategy of "selling DRAM when NAND prices decline."

Meanwhile, Morgan Stanley failed to be selected as a joint lead underwriter for SK Hynix's approximately $26.5 billion American Depositary Receipts (ADR) listing. Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase were chosen, making Morgan Stanley the only top investment bank to be left out. Based on an underwriting fee rate of 0.5%, the total commission for the project is estimated at approximately $130 million. Several investment banking professionals stated that Morgan Stanley's Seoul office is beginning to reflect on whether the continued release of negative semiconductor reports has impacted its investment banking business.

Besides the SK Hynix project, Morgan Stanley has recently been embroiled in controversies surrounding its SpaceX share placement and the sale of IGIS Asset Management in South Korea. These events further highlight the conflict between the independence of its research division and the commercial interests of its investment banking business, and increase the reputational and operational pressures it faces in the South Korean market.

According to BlockBeats, on July 24th, a whale named "Set 10 Big Goals First" posted that after closing out his short positions, he quickly re-established long positions because his long-term bullish view on Bitcoin remains unchanged. He believes that the important dividing line of the last bull market was around $60,000, and the current mainstream Bitcoin mining cost is also concentrated between $50,000 and $60,000; Bitcoin's rapid recovery after dipping to $58,000 last month further validates the support capacity of this area.

Over the past month, Bitcoin has fluctuated significantly between $58,000 and $63,000, before stabilizing around $66,000 after a pullback. Barring systemic risks or major fundamental changes, the risk-reward ratio for shorting at the current level is not high, and the market may see a surge in volume and break through $72,000. If the market structure remains largely unchanged, Bitcoin has a good chance of retesting $100,000 around March next year.

Currently, US stocks, especially those related to artificial intelligence, are generally at a relatively high valuation level, and future volatility may increase significantly. The correlation between Bitcoin and US stocks has decreased significantly compared to the past few cycles, and Bitcoin is gradually developing its own independent price movement. A trading invalidation range has been set for the current position; if the market falls back to $61,500 to $64,000, and the price action proves the judgment incorrect, the position will be closed immediately to control losses. The analyst emphasizes: "Viewpoints can change, but discipline cannot."

In addition, the latest publicly available data shows that the whale "First Set 10 Big Goals" has set the positions of its Binance contract live trading account "Jason leo133" to private.