Bitcoin plunged below $100,000 for the first time in five months, hitting an intraday low of $99,980 before rebounding to $101,600.
Total liquidations exceeded $1.3 billion, with longs accounting for $1.113 billion, marking one of the largest single-day deleveraging events since May 2021.
Spot Bitcoin ETFs saw $578 million in outflows, their fifth straight day of redemptions; Ethereum ETFs lost $219 million, while Solana ETFs extended their winning streak with $14.83 million in inflows.
Crypto market capitalization fell 2.5% to $3.39 trillion, erasing $289 billion in value within 24 hours.
Short-term holders (STHs) continue to capitulate, sending 30,300 BTC to exchanges at a loss, while the STH-SOPR hovers near 1, reflecting persistent stress.
Bitcoin futures open interest collapsed by over $10 billion, a washout comparable to May 2021 and the FTX 2022 unwind, a structural reset more than full capitulation.
The next phase of Bitcoin’s evolution is not about leverage or yield chasing, but about using BTC as credible collateral, security, and economic infrastructure.
Conventional wisdom says crypto thrives when systems fail. Brazil is proving the opposite—adoption is rising alongside tight monetary policy, healthy credit markets, and institutional support, reshaping what “crypto demand” actually looks like.
Asia-Pacific volumes rose about 20% year on year, helping push OKX’s regulated market trading up 53x as user wallets and onchain activity expanded sharply.
