Yesterday, the market really blew up—liquidations across the entire network exceeded $1.1 billion, the worst time in the past few months. I looked at the on-chain data: within just 24 hours, nearly 250,000 traders were forced to liquidate, and liquidations in long positions alone wiped out more than $1 billion. What’s most shocking is that someone was liquidated for $200 million on BTC futures on a major exchange. How large that order was is easy to imagine. Although the exchange won’t publicly reveal who placed the trade, liquidations on this scale are still quite rare. It seems that recently market sentiment has been overly optimistic, and high-leverage trading has planted quite a few hidden risks. As for the market, Bitcoin fell 2.7% to just over $104,000, while Ethereum was hit even harder, dropping 8.8% to $2,513. Other coins didn’t escape either—XRP fell by more than 5%, and Solana and Dogecoin both dropped by more than 8%. The main storm center of this network-wide liquidation was concentrated among several major exchanges, and the combined liquidation amount of just two of them reached more than $800 million. To put it plainly, liquidation happens when leverage trading faces volatility that’s too high, and insufficient margin forces the exchange to liquidate positions. Although this mechanism is meant to control risk, when the market moves violently, it often triggers a chain reaction—liquidations one after another—further intensifying selling pressure in the market. With the scale of this network-wide liquidation being so large, it’s definitely a reminder to everyone to be cautious with leverage trading.

Technical Outlook: XRP Stabilizes Near $1.45 — Compression Before Breakout? XRP is currently trading in a tight consolidation range after a prolonged downtrend, holding above the $1.40 – $1.44 support zone. Price action suggests accumulation with a slight bullish bias, but XRP is still facing key resistance overhead that needs to be reclaimed for continuation. EMA Structure (Early Recovery Phase) 20 EMA: $1.415 50 EMA: $1.413 100 EMA: $1.498 200 EMA: $1.718 Price is hovering around 20 & 50 EMA Short-term structure shows sideways to slightly bullish bias XRP remains below 100 & 200 EMA → macro trend still bearish 👉 Reclaim of $1.50 – $1.72 zone is required for stronger upside confirmation. Fibonacci & Market Structure 1.0 Fib (High): $3.66 0.786 Fib: $3.11 0.618 Fib: $2.69 0.5 Fib: $2.39 0.382 Fib: $2.09 0.236 Fib: $1.71 Fib 0: $1.11 Price is trading below 0.236 Fib ($1.71) Structure shows base formation after major selloff Multiple rejections from $1.47 – $1.50 supply zone 👉 Holding above $1.40 keeps accumulation structure valid. Market Structure Insight (ICT Concepts) Previous move swept sell-side liquidity near $1.10 – $1.20 Current price shows range-bound accumulation with minor BOS Presence of FVG fills + compression near resistance 👉 Break above $1.50 zone could trigger expansion toward $1.70+ RSI Momentum RSI (14): 61 Bullish momentum building Not overbought → room for upside Higher lows indicate strengthening demand 👉 RSI holding above 55–60 supports continuation. 📊 Key Levels Resistance $1.47 – $1.50 (local supply) $1.71 (0.236 Fib) $1.72+ (200 EMA zone) Support $1.44 – $1.40 (range support) $1.38 (demand zone) $1.30 (key downside level) 📌 Summary XRP is currently in a compression phase after accumulation, holding above $1.40 support while repeatedly testing resistance near $1.50. The structure suggests a potential breakout setup, but confirmation is still needed. Break above $1.50 → opens move toward $1.70 – $1.72 Failure to hold $1.40 → could trigger pullback toward $1.30 zone Overall, momentum is gradually turning bullish, but XRP must reclaim higher EMAs to confirm a true trend reversal. $XRP ‌

Recently, I noticed an interesting phenomenon—institutional funds are once again pouring into the cryptocurrency market. According to the latest data from CoinShares, global crypto investment products attracted over $1.2 billion in inflows last week, slightly less than the $1.4 billion from the previous week, but with four consecutive weeks of net inflows, it seems that institutions are quietly positioning themselves. Bitcoin is now trading around $81,800, hitting a recent high, which also seems to have stimulated institutional buying interest. CoinShares' head of research stated that even as the market awaits important decisions, the momentum of institutional capital inflows remains steady, reflecting that amid the new highs in cryptocurrency prices, large investors' demand is indeed heating up. Looking at the specific numbers, Bitcoin-related products remain the top attractors, with over $930 million coming in in a single week, and total inflows this year have already exceeded $4 billion. Ethereum also performed well, with over $190 million added in one week, maintaining levels above $190 million for three consecutive weeks. Solana and Ripple also saw inflows of over $30 million and $25 million, respectively. Interestingly, major U.S. institutions are leading this rally, with the iShares series under BlackRock taking the lead, followed closely by Ark Invest and Fidelity. In contrast, Grayscale was still experiencing outflows last week, indicating that institutions are reallocating their crypto investment portfolios. Regionally, the U.S. market attracted over $1.08 billion in a week, remaining the dominant force, while Europe also saw significant inflows, especially with Germany’s inflows doubling. Overall, this wave of institutional capital returning indeed provides substantial support for the bullish market. The total assets of global crypto funds have risen to $155.3 billion, still far below the October peak of $263 billion, but the trend appears to be positive.