Galaxy Digital宣布最高500万美元资助比特币抗量子加密升级，成立量子咨询委员会。Glassnode数据显示若量子计算机来临，30%比特币供应将暴露风险。机构资本开始认真对待量子威胁，抗量子升级或成下一轮牛市核心叙事。

BTC重回6.4万美元，现货ETF一周涌入12亿美元，机构持续提币至冷钱包。恐慌指数25仍在极度恐惧区间，但资金面正在改善。

Strategy's mNAV peaked at 3.89x in November 2024 — the market paying $3.89 for every $1 of Bitcoin it held — and has since fallen below 1. Its entire money-printer flywheel runs on a premium it doesn't control. What happens to the "never sell Bitcoin" playbook when the market stops paying up?

比特币时隔三周重回7万美元，ETF连续三日净流入超5亿美元，美联储7月不加息概率升至80%。这波反弹是牛归还是诱多？深度拆解行情驱动力和风险信号。

Today Strategy authorized selling up to $1.25B in Bitcoin. Everyone's calling it "the first time Saylor sells Bitcoin." The real story: the corporate BTC treasury was never a Bitcoin strategy — it was a leveraged preferred equity machine using Bitcoin as collateral. Today, the structure unwound itself.

Strategy持仓84.7万枚BTC，均价$75,651首次高于现价$61,741。MSTR跌78%，STRC破$83创历史新低，Saylor的比特币飞轮逻辑正面临2022年以来最大考验。周五$100亿期权到期可能加剧波动。

全球股市黑色星期二，韩国触发熔断，纳指期货暴跌2.3%。比特币$62,578相对抗跌，但美联储鹰派压制下，$60,000关口岌岌可危。

Strategy优先股STRC脱锚超11%，首次卖出32枚BTC动摇囤币信仰。摩根大通警告现金流仅够覆盖6.3个月股息。融资收窄+被动卖盘叙事，短期BTC承压。