[Afternoon News Briefing] $656 million worth of short positions forced to liquidate amid BTC and ETH surge

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Forced liquidation of $656 million in futures positions in the last hour

Major exchanges saw $656 million in futures positions forcibly liquidated in the last hour.

In the past 24 hours, $1.009 billion in futures positions were forcibly liquidated.

24-hour cryptocurrency perpetual futures forced liquidation scale

BTC liquidation amount: $58.941 million, liquidation ratio: Short 96.73%

ETH liquidation amount: $241.18 million, liquidation ratio: Short 84.16%

HYPER liquidation amount: $43.99 million, liquidation ratio: Short 81%

BTC, ETH short whales forcibly liquidated for $17.89 million

On-chain Lens reported that "The position of gambler @qwatio, who took a 40x short on BTC and 25x short on ETH on Hyperliquid, was completely forcibly liquidated, resulting in a loss of $17.89 million".

Bitcoin options worth $4.25 billion to expire today

According to cryptocurrency options exchange Deribit, Bitcoin options worth $4.25 billion will expire at 5:42 PM Korean time on July 11. The put/call ratio is 1.05, with the max pain price at $108,000. Additionally, Ethereum options worth $690 million will also expire at the same time.

Kinto: "Hacking damage of $1.55 million... Aiming to resume token trading on 7/31"

Kinto CEO Ramon Recuero explained, "The hacker unlimited issued K Token on the Arbitrum network and then stole a total of $1.55 million worth of ETH and USDC through Morpho and Uniswap." He added, "We plan to resume K trading at the same price on centralized exchanges before July 31."

Sharplake purchases $35.31 million in ETH

On-chain analyst Amber CN reported that Sharplake Gaming purchased an additional 12,648 ETH ($35.31 million) today.

Amber CN: "Ethereum Foundation confirmed to be selling assets"

Amber CN reported that the estimated Ethereum Foundation address transferred 21,000 ETH to a specific address A in the past month and subsequently sold it for 3.49 million USDC on Uniswap.

Sharplake is the 2nd largest ETH holding institution

On-chain analyst ai_9684xtpa reported, "The top ETH holding institutions are: 1st Ethereum Foundation (243,000 ETH), 2nd Sharplake Gaming (200,000 ETH), 3rd Pulse Chain, 4th Coinbase".

Cantor Fitzgerald pursuing SPAC merger with BTC investment company

Cantor Equity Partners announced they are pursuing a merger with BTC investment firm Twenty-One Capital and have submitted documents to the SEC.

Florida prosecutors investigating Robinhood's cryptocurrency trading promotion

Florida prosecutors issued a document production order alleging Robinhood falsely advertised "providing the cheapest cryptocurrency trading service".

Pakistan Central Bank preparing for CBDC pilot operation

The Pakistan Central Bank announced plans to implement a digital currency pilot program alongside establishing virtual asset industry regulations.

Telegram meme coin trading bot Snooter launches rug pull and honeypot detection feature

Snooter released a feature that can detect rug pulls and honeypots with 85% probability and plans to introduce portfolio management features in the future.

Pump.fun acquires Solana-based wallet tracking system Colscan

The Block reported that Pump.fun acquired the Solana-based wallet tracking system Colscan ahead of issuing its own PUMP coin.

Altcoin season index at 30... up 3 points from previous day

The 'Altcoin Season Index' rose 3 points to 30. An altcoin season is classified when 75% of the top 100 coins have higher returns than BTC over the past 90 days.

$250 million USDC newly issued

According to Whale Alert, $250 million USDC was newly issued from the USDC Treasury address.

TRUMP team deposits $7.03 million TRUMP to Coinbase

An address related to the TRUMP team deposited 722,000 TRUMP ($7.03 million) to Coinbase.

Binance Alpha adds APENFT

Binance Alpha added APENFT (Non-Fungible Token).

Upbit temporarily suspends ATOM deposits and withdrawals

Upbit announced a temporary suspension of ATOM deposits and withdrawals at 6 PM on the 17th to support the Cosmos (ATOM) network upgrade.

Crypto 'Fear & Greed Index' at 71... unchanged from previous day

The Fear & Greed Index remained at 71, continuing to be in the greed stage.

Analysis: "ETH $3,000 recovery signals bull market"

LD Capital's Jack Lee analyzed, "ETH's $3,000 recovery signals the start of a bull market, and ETH remains undervalued".

Analysis: "ETH forms $3,000 resistance line"

Coindesk analyzed that ETH's resistance line is at $3,000 and support line at $2,750.

Analysis: "BTC may reach $150,000 if breaking $113,800"

Cointelegraph diagnosed that BTC could rise to $150,000 if it breaks the neckline of $113,800.

BTC surpasses $116,000

According to Coinness market monitoring, BTC surpassed $116,000. It is currently trading at $116,221.99 on Binance.

BTC surpasses $115,000

According to Coinness market monitoring, BTC surpassed $115,000.

BTC surpasses $114,000

According to Coinness market monitoring, BTC surpassed $114,000.

BTC rises 1.72% in last 5 minutes

BTC rose 1.72% in the last 5 minutes based on Binance USDT market. It is currently trading at $115,654.92.

Kimchi premium records -2.0%

BTC Kimchi premium recorded -2.0%. Upbit at 155 million won, Binance at 158.23 million won, difference of -3.23 million won.

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#News Brief#BTC#ETH#Futures Liquidation#Option Expiration#Cryptocurrency Market

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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