BTC $64,989.30 +0.91%
ETH $1,930.32 +1.44%
BNB $587.88 +3.34%
XRP $1.08 +0.94%
SOL $74.65 +1.60%
TRX $0.3280 +0.45%
DOGE $0.0703 -0.28%
ADA $0.1680 +2.00%
BCH $219.99 +4.21%
LINK $8.51 +2.25%
HYPE $53.44 -3.43%
AAVE $99.38 +1.15%
SUI $0.6962 +1.17%
XLM $0.1731 -0.61%
ZEC $476.24 +2.17%
BTC $64,989.30 +0.91%
ETH $1,930.32 +1.44%
BNB $587.88 +3.34%
XRP $1.08 +0.94%
SOL $74.65 +1.60%
TRX $0.3280 +0.45%
DOGE $0.0703 -0.28%
ADA $0.1680 +2.00%
BCH $219.99 +4.21%
LINK $8.51 +2.25%
HYPE $53.44 -3.43%
AAVE $99.38 +1.15%
SUI $0.6962 +1.17%
XLM $0.1731 -0.61%
ZEC $476.24 +2.17%

gain

All
Article
Flash

first_img Fidelity Q3 Signal Report: The net unrealized gains and losses of BTC, ETH, and SOL are all at historical lows, with multiple indicators approaching the capitulation zone

According to the Q3 2026 signal report released by Fidelity Digital Assets, the prices of BTC, ETH, and SOL are generally at historical lows, with multiple indicators close to the capitulation zone. Fidelity believes that the current valuation levels may correspond to attractive long-term entry conditions.As of the end of Q2, the weighted net unrealized profit and loss (NUPL) was -0.01, with BTC being the only asset with a positive unrealized profit, approximately 10% above its cost basis, with an unrealized profit of about $108 billion, while ETH and SOL were approximately 30% and 41% below their cost bases, with unrealized losses of about $87 billion and $29 billion, respectively. BTC's market share rose to 68% quarter-over-quarter.The report states that, based on historical backtesting, the current NUPL readings for the three correspond to one-year median returns of 53%, 70%, and 542%, respectively, but the reliability of the samples decreases sequentially. The NUPL reading for SOL has only occurred 21 times in history, concentrated at the end of 2025, which has limited statistical significance.On the fundamental side, the value of stablecoin transfers for both ETH and SOL has reached new highs, exceeding $20 trillion and $2.6 trillion, respectively, over the past 12 months, but network fee revenue continues to decline.Additionally, the report attributes the 22% decline in BTC hash rate from its peak to miners shifting their computing power towards AI and high-performance computing, as AI contract revenues are more stable due to the depressed coin prices.

U.S. debt approaches $40 trillion, investors turn to Bitcoin and gold as a hedge against the depreciation of the dollar

According to CoinDesk, as the U.S. government debt continues to rise, investors are refocusing on scarce assets like Bitcoin and gold, viewing them as tools to hedge against the declining purchasing power of the dollar. Data from the U.S. Treasury shows that as of last Friday, the federal debt has reached a record $39.7 trillion. Market participants point out that U.S. government debt is currently increasing by about $7 billion per day, and in terms of market value, this incremental scale has surpassed most crypto assets.The founder of LondonCryptoClub stated that the rapid growth of U.S. debt is driving the so-called "currency devaluation trade," where investors buy limited-supply assets like gold and Bitcoin to mitigate the long-term devaluation risk of fiat currency. The institution believes that in a "fiscal-dominated" environment, Federal Reserve policy may be influenced by government financing needs, requiring interest rates to remain low while continuously providing liquidity to assist with debt refinancing.Apollo's chief economist Torsten Slok previously warned that the ratio of U.S. debt to GDP has exceeded 120%, leaving limited fiscal stimulus space during future economic recessions. At the same time, the Federal Reserve may find it difficult to cut interest rates significantly as it did in the past, since rate cuts could exacerbate inflation and lower government bond yields, affecting government financing. Currently, Bitcoin prices are maintaining above $65,000, supported by easing tensions between the U.S. and Iran and a drop in oil prices, leading to a rebound in market risk appetite.Meanwhile, Ethereum has recently outperformed Bitcoin, with the ETH/BTC exchange rate breaking through the 100-day and 200-day moving averages, leading the market to believe that altcoin trends may be warming up. However, analysts point out that since its inception in 2010, Bitcoin's price movements have more closely resembled those of tech stocks rather than traditional safe-haven assets, and its safe-haven properties remain controversial.
app_icon
ChainCatcher Building the Web3 world with innovations.