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 token is at a 14-month low, ETF outflows are at a record streak, and the 'Ethereum not ETH' argument is gaining ground. Bankless co-founder Ryan Adams says that argument is precisely the problem.
HYPG debuted with a 0.29% gross fee – the lowest among US HYPE products – as Grayscale, Bitwise, and 21Shares compete for investors in a token that hit its all-time high the day before listing.
A soundness bug in Zcash's core zero-knowledge proof circuit – present since 2022 – could have enabled double-spending within the Orchard pool; ZEC dropped more than 30% after the disclosure went public.
The Clearing House – owned by the banks themselves – will run the network as a direct counter to stablecoins, keeping deposits on blockchain rails while keeping them inside the regulated banking system.
