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太极张三丰

彻底“杀疯”!比特币狂舞 近2000万豪赌!发生了什么?_我的网站

第五元素

一 |     

    
Photos: Courtesy of Landspace
    Photos: Courtesy of Landspace
    

A rocket that once would have been discarded after completing its mission has now taken a different path - returning from the edge of space back to Earth. In the early hours on Wednesday, the Zhuque-3 Y2 reusable launch vehicle lifted off for a flight test, carrying not only a satellite payload but also a major test of China's emerging reusable rocket capabilities. After completing its orbital mission, the rocket's first stage attempted a controlled return and recovery, with its developers Beijing-based private firm LandSpace describing the mission as a key transition from technology verification toward engineering application for China's commercial aerospace industry.
About 137 seconds after liftoff, the rocket’s first and second stages separated. The second stage continued its flight and successfully placed the Honghu-03 satellite, independently developed by Hongqing Technology, into its designated orbit. And at around 7:43 am, the rocket’s first stage successfully made a soft landing as planned at the Zhuque-3 landing site in Minqin county, Northwest China’s Gansu Province, marking the successful completion of the flight test mission.
This mission marked China's first-ever recovery of a launch vehicle's first stage using landing legs, as well as the country's first land-based recovery of the first stage of an orbital-class launch vehicle, the developer highlighted.
The achievement came shortly after China's Long March-10B reusable rocket successfully completed its maiden flight and a sea-based recovery test on July 10, marking a wave of breakthroughs in reusable launch technology. The parallel progress of state-owned and private aerospace players through different technical approaches is creating a dual-track development landscape for China's future low-cost and high-frequency space transportation, some aerospace experts told the Global Times.
    
Photos: Courtesy of Landspace
    Photos: Courtesy of LandspaceDesigned to fly again

Unlike traditional expendable rockets, which are discarded after a single mission, reusable launch vehicles are designed around an entirely different concept: a rocket should not only complete a launch, but also return safely and be prepared for future missions.
According to LandSpace, for conventional expendable liquid launch vehicles, the rocket itself represents the majority of launch costs, while fuel expenses generally account for only 1-3 percent. The first stage typically makes up about 70 percent of the total rocket cost. As a result, repeated reuse of rockets - particularly the first stage - can significantly lower launch costs by amortizing the cost of the vehicle over multiple missions. For partially reusable rockets that reuse the first stage while discarding the second stage, the cost advantage becomes increasingly evident as the number of reuse cycles grows.
The Zhuque-3 is a reusable liquid oxygen-methane launch vehicle independently developed by Beijing-based private aerospace firm LandSpace for future large satellite constellation deployment missions, according to the company's statement.
The rocket adopts a two-stage configuration, with a diameter of 4.5 meters, a total length of 66.1 meters and a liftoff mass of about 570 tons. Its first stage is equipped with nine Tianque-12A liquid oxygen-methane engines, as well as recovery systems including grid fins, attitude control systems and landing legs, enabling autonomous return and soft landing after orbital missions, LandSpace said.  
The Y2 mission was conducted on the basis of experience accumulated from the previous flight test, with improvements focused on recovery reliability, flight control and engine performance.
LandSpace said it optimized the first-stage landing propulsion scheme by reducing the number of engines used during landing ignition, simplifying system design and improving reliability during the recovery phase. The company also added an autonomous safety control function capable of predicting landing points based on flight conditions and making corresponding safety adjustments.  
The mission also further verified key technologies including the use of stainless-steel rocket structures, liquid oxygen-methane propulsion and landing-leg recovery systems.
According to LandSpace, stainless steel provides advantages in manufacturing cost, processing efficiency, high- and low-temperature performance and post-recovery maintenance, making it suitable for reusable rocket development.  

Photos: Courtesy of Landspace
    Photos: Courtesy of LandspaceMore than a single rocket's return

The significance of Zhuque-3 Y2 extends beyond one flight test, as it reflects China's broader effort to develop reusable launch systems through multiple technological routes, according to Chinese experts.
Kang Guohua, a senior member of the Chinese Society of Astronautics and a professor of aerospace engineering at Nanjing University of Aeronautics and Astronautics, told the Global Times that China has become the second country after the US to develop orbital-class rocket recovery capabilities.
The US currently leads reusable rocket development, with SpaceX and Blue Origin advancing different recovery technologies. China, meanwhile, has seen both state-owned aerospace programs and private companies explore different technical pathways, creating a diversified development pattern, Kang said.  
According to Kang, the parallel development of different approaches demonstrates the advantages of combining national strategic capabilities with market-driven innovation.  
Pang Zhihao, a prominent Chinese space exploration expert and retired researcher from the China Academy of Spacecraft Technology, told the Global Times that the successful recovery of Zhuque-3 would carry special significance for China's private aerospace sector.
A landing-leg recovery approach would mean that private aerospace companies have completed the full process of developing a large-capacity reusable rocket system, validating key technologies including stainless-steel structures, multi-engine propulsion and recovery systems, Pang said.  
More to expect 
LandSpace said the first stage represents a significant share of the total cost of a liquid launch vehicle. Through repeated reuse, the cost of each launch can be gradually reduced, while production cycles can be shortened and launch frequency increased.  
Such capabilities are becoming increasingly important as countries and companies accelerate the deployment of large low Earth orbit satellite constellations, it added.
The Zhuque-3 has demonstrated the ability to support various commercial missions, including satellite constellation deployment, single satellite launches and rideshare missions, according to LandSpace.
The company said the rocket has achieved a maximum orbital payload capacity of 14.2 tons in expendable mode, while its reusable configuration is designed to support future constellation deployment needs.  
The Y2 mission also carried the Honghu-03 satellite developed by Hongqing Technology, combining reusable technology verification with a commercial launch application scenario. LandSpace said the mission verified the full chain of "design, manufacturing, testing, launch and recovery," laying the foundation for future commercial operations.  
The Zhuque-3 Y2 test comes as China's aerospace industry accelerates efforts to develop reusable launch vehicles.
According to Chinese experts, multiple companies are now exploring different recovery technologies, including vertical landing and other innovative approaches, reflecting the rapid growth of China's commercial aerospace ecosystem.  
Reusable liquid launch vehicle, Pallas-1 will begin its mission from Galactic Energy's independently built facility at the Dongfeng Commercial Aerospace Innovation Test Zone in northwestern China, where the company will soon complete testing, propellant filling and launch preparation operations, according to its developer Galactic Energy on Thursday.
Orienspace's Gravity-2 reusable large liquid launch vehicle is undergoing final ground testing ahead of its maiden flight, which is scheduled in the fourth quarter of 2026. The rocket is designed with a low Earth orbit payload capacity of 21.5 tons.
Space Pioneer is advancing verification and joint testing of its Yuanxingzhe-1 (YXZ-1) rocket, while i-Space's Hyperbola-3 reusable rocket has completed full-cycle ground verification of offshore recovery and landing technologies and is expected to conduct its maiden flight around the end of 2026.
Meanwhile, CAS Space's reusable Lihong-2 vehicle is being developed as a platform for verifying key recovery and reuse technologies, as well as conducting microgravity experiments. The vehicle is scheduled to complete its maiden flight and 100-kilometer-class recovery verification test in 2026.
Pang said reusable rocket technology could help lower launch costs, increase mission frequency and provide stronger support for emerging sectors such as satellite internet, space-based information networks and future large-scale space applications.  
For China's private space sector, the Zhuque-3 Y2 mission represents a transition from technology verification toward engineering application, according to LandSpace. The company said it aims to further build a "launch-recovery-inspection-reuse" cycle to support future high-frequency and low-cost commercial operations. 
Experts said reusable rocket technology could help reduce launch costs, increase launch frequency and provide stronger support for emerging sectors such as satellite internet and large-scale space applications.  
The future challenge for China's reusable rocket developers will be turning successful flight tests into repeatable commercial operations, as the country advances toward a new era of high-frequency space transportation, they noted.
Photos: Courtesy of Landspace
    Photos: Courtesy of Landspace

二 |       加密货币狂飙!  今日(8月25日),比特币价格飙升至8万美元以上,单日涨幅超过2%,24小时涨幅接近4%,现货比特币ETF的资金也再次流入。比特币上周暴涨超23%,以太坊、BNB、SOL等集体上涨。  数据追踪平台Laevitas的数据显示,周一,一位或多位交易员买入了2000份比特币看涨期权合约,行权价为82000美元。看涨期权的买家支付了290万美元(折合人民币约1950万元)的权利金,赌比特币在9月份能涨破82000美元。  那么,究竟发生了什么?  比特币飙涨  今日,比特币价格飙升至8万美元以上,现货比特币ETF的资金再次流入。

三 | 上周,比特币在3天内飙升超过20%,创下2023年以来最大的3日涨幅。分析人士认为,这波涨势部分是由空头挤压推动的,随着价格上涨,超过40亿美元的加密货币空头头寸被清算。根据 CoinGlass数据统计,最近24小时,全球共有 96103人被爆仓,爆仓总金额为6.48亿美元。  机构需求也已回归。上周,美国现货比特币交易所交易基金(ETF)净流入19.2亿美元,创下自去年10月比特币触及上一轮周期峰值以来的最大单周流入量。  期权市场的活跃度也表明,投资者越来越相信这轮上涨行情能够持续。数据追踪平台Laevitas的数据显示,当地时间周一,有交易员买入了2000份比特币看涨期权合约,行权价为82000美元,将于9月4日到期。

四 | 这笔交易实际上是在押注比特币现货价格将在9月4日或之前上涨至82000美元以上。看涨期权的买家为此支付了290万美元的权利金,如果比特币在9月4日到期前价格保持在82000美元以下,这将是他们可能损失的最大金额。

五 |   机构Fundstrat指出,比特币价格上涨的同时,全球最大的企业比特币持有者Strategy却没有进行新的买入。Strategy已经两周没有买入比特币了。如果它在ETF需求依然强劲的情况下重新开始买入,可能会进一步推高比特币价格。  信用“动摇”之预演?  目前,有机构认为,加密货币飙升是美国国债回购导致。

六 |   华侨银行分析师在一份报告中指出,美国财政部宣布回购国债的举措已将市场关注点从更高的收益率转向美元贬值——回购导致美元走软、黄金走强,市场盈亏平衡点上升。虽然市场预期有些夸张,但政策不确定性的加剧以及对美联储独立性的质疑正在对美元构成压力。这反过来又导致投资者涌入黄金和加密货币市场——这些资产被认为大多不会受到债券市场动荡的影响。

七 |   亿万富豪投资人Stanley·Druckenmiller表示,美国财政部长贝森特花费数十亿美元回购美债的计划是一个错误。其在《华尔街日报》一篇评论中写道:“政府若不顾基本面试图捍卫价格,终将落败。”“长期美国国债收益率是世界上最重要的价格,也是美国仅存的财政纪律约束机制。”贝森特早年担任对冲基金交易员时,曾经受过Druckenmiller的指点。  不过,也有分析认为,美债违约的实质性风险(本金利息无法按时兑付)目前仍然较低,因为美国仍可通过发新债还旧债维持运转。

八 | 但债务可持续性的结构性风险真实存在且正在累积——债务规模越大、利息支出越高、融资成本越贵,形成“债务↑→利息↑→赤字↑→发债↑→利率↑”的负反馈循环。  对于比特币等加密货币来说,美债稳定之后,价格方向可能再度发生变化。这波突破能否持续也仍存疑。比特币自去年10月以来一直处于低迷状态。BTIG指出,2023年1月类似的上涨行情最初也未能持续,比特币在200日移动均线附近找到支撑后开始回落。但Fundstrat周一在一份报告中指出,上周空头挤压后出现的买盘表明,比特币的反弹可能“比战术性反弹更具持久性”。

九 | 数据显示,比特币和以太坊ETF资金流入强劲。(文章来源:券商中国)。

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