July 28th Bitfinex alpha | BTC is low locally but discovers increased leverage

Bitcoin successfully defended its short-term range low of nearly $114,800 last week, recovering sharply to close the week of nearly $119,580. This resilience fell nearly 5% within a rapid week, causing a massive liquidation. On July 23 and 24, long positions of over $1.1 billion were wiped out over major exchanges across various assets, revealing that speculative positioning overheated during BTC’s most recent all-time driving. The corrections were shallow in price, but the leverage impact was deep, and too fast bubbles enhanced the reflective nature of the crypto market.

Beneath the surface, the risk appetite continues to spin actively into the altcoin. Ethereum’s open profit advantage rose to 17-26%, but Bitcoin’s fell to just 41% to 41%, a sharp drop from 51% in April. The overall interest advantage of Altcoin remains stable at low 30s, but its composition is fluidity driven by fast changing narratives and listing activities. Open interest across major altcoins such as ETH, SOL, XRP and Doge have skyrocketed from $26 billion to $44 billion in just four weeks, reflecting the clear benefits of speculative capital.

The market is currently at a critical time. Bitcoin’s structural strength remains intact, it retains its support level and ETFs are in stable demand, but as the altcoin leverage concentration increases, the broader crypto complex becomes vulnerable to sharp derevalization events. When speculative positioning is built, the risk of cascade liquidation increases, especially when macro headings become negative or price momentum stalls.

Recent data shows that rebounds in the US economy hide deeper weaknesses. Corporate investment is slowing, falling 9.3% in June, with capital goods cores down 0.7% as tariff uncertainty destroys the plan. The frontline surge in equipment spent earlier this year has faded, with second quarter GDP growth (2.4%) being driven primarily by temporary inventory and trade adjustments rather than actual demand.

Meanwhile, unemployment claims fell to a minimum of 217,000 in three months, while continuing claims rose to 19.55 million, indicating difficulties in reemployment. Companies have suspended employment amid uncertainty and uneven demand for tariffs. Housing activities remain weak, with new home sales being only 0.6% in June and the highest stocks since 2007. The labor market has not collapsed, but it has not cooled quietly. Bitmine Immersion and the upcoming Ether Machine IPO are gathering Ether Reim as a promotional class for the Ministry of Finance, and Bitmine currently has over 566,000 ETHs and Ether Machines ready to be published with over 400,000 ETHs on its yield generation infrastructure. Meanwhile, Trump Media’s $20 billion Bitcoin bet adds to this trend, but concerns rely on shortages in revenue and reliance on encryption to justify the valuation.

]]> https://earlybirdsinvest.com/bitfinex-alpha-btc-is-low-locally-but-discovers-increased-leverage/feed/ 0 50243 https://earlybirdsinvest.com/364333-americans-at-risk-as-data-giant-discovers-breach-social-security-numbers-names-and-other-sensitive-info-stolen/ https://earlybirdsinvest.com/364333-americans-at-risk-as-data-giant-discovers-breach-social-security-numbers-names-and-other-sensitive-info-stolen/#respond Fri, 30 May 2025 08:39:02 +0000 https://earlybirdsinvest.com/364333-americans-at-risk-as-data-giant-discovers-breach-social-security-numbers-names-and-other-sensitive-info-stolen/

Sensitive personal and financial information of hundreds of thousands of Americans has been stolen in a newly reported cybersecurity incident.

In a filing with the Office of the Maine Attorney General, Georgia-based data broker giant LexisNexis Risk Solutions (LNRS) says that it discovered a breach affecting 364,333 people.

“We learned that on December 25, 2024, an unauthorized third party acquired certain LNRS data from a third-party platform used for software development. The issue did not affect LNRS?s own networks or systems…

The types of impacted personal information varied by affected individual, and could have included name, contact information (such as phone number, postal or email address), Social Security number, driver’s license number or date of birth. No financial or credit card information was affected.”

LNRS says it immediately sent letters to affected customers to inform them of the breach, while offering free identity monitoring services to affected individuals for two years.

LNRS also says it has not yet detected any instance involving the misuse of the stolen customer data.

The firm is urging customers to stay vigilant and report any suspicious activity related to their financial accounts.

LNRS says it has “launched an investigation with the assistance of leading external cybersecurity experts, notified law enforcement and took steps to review and further enhance our security controls.”

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A telecom giant is offering 25 million people free SIM cards after a massive hack left its customers’ sensitive personal information at risk.

SK Telecom, the largest mobile provider in South Korea, acknowledged in a security notice that its customers’ personal data was exposed during a malware attack on the company.

The company said in an announcement last month that “no cases of misuse of the information have been confirmed to date.” However, local publication Korea JoongAng Daily is reporting that some of SK Telecom’s customers have discovered money stolen from their bank accounts after the hacking incident.

Police reportedly said that three days after the hack, a man had learned that his mobile plan with SK Telecom had suddenly been cancelled, and he was told by company employees at a service center that someone had signed up for a budget plan with another provider using his name.

Soon thereafter, the man discovered that 50 million Korean won – about $34,000 – had been stolen from his bank account by unknown people in five separate transactions. He then called the police and asked his bank to freeze his account.

Victims of the hack have formed an organization seeking collective action against SK Telecom, and are demanding a full investigation into the attack.

The group, dubbed the “SKT USIM Hacking Joint Response,” told Korea JoongAng Daily that they believe the worse is still yet to come from the data breach, and that the telecom giant’s reaction to the mishap has been underwhelming.

“The leaked information could lead to serious secondary damage across financial, social networking and other services that rely on mobile phone number authentication… SK Telecom’s response has been extremely insufficient.

The scope and extent of the damage have not been clearly revealed, which has amplified user anxiety and confusion.”

SK Telecom subsequently offered free SIM cards for all 25 million customers.

However, the company now says it’s only able to get ahold of 6 million SIM cards for the entire month of May, meaning that it will take some time for it to follow through on its compensation plan.

Says the company in an update,

“[SK Telecom] currently has 1 million SIMs and plans to secure 5 million more SIMs by the end of May. However, since many customers are coming at once and waiting times are expected to be long, please check in advance through the online reservation application system.”

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