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Short-term bitcoin holders are facing heavy losses, making them the most likely to sell if the market drops further.
Donald Trump has extended his lead over Kamala Harris in U.S. presidential election odds on the decentralized predictions platform Polymarket.The seven percentage point gap is the highest since Aug. 22 but contrasts with average national polling in Harris’ favor.
US spot Bitcoin exchange-traded funds (ETFs) saw $37.29 million in outflows on Wednesday, marking the sixth consecutive day of negative flows.
Blockstream has launched Series 3 of its BMN2 security token, which provides direct exposure to the firm’s Bitcoin hash rate.The firm said the launch comes amid heightened investor interest in bitcoin mining opportunities.
Bitcoin is well and truly stuck, the analysis concludes, but there are signs that a BTC price breakout from an increasingly “unstable” range is brewing.
- 17:04Polyhedra: Abnormal On-Chain Transactions Detected in ZKJ/KOGE Trading Pair Today, Team Closely MonitoringPolyhedra posted on the X platform stating that today's price drop was caused by a series of abnormal on-chain transactions in the ZKJ/KOGE trading pair within a very short period. The team is closely monitoring the situation and will share more information as soon as possible. However, it is important to emphasize that Polyhedra's fundamentals remain unaffected, and the project will continue to move forward as planned.
- 16:41Data: $236 Million in Liquidations Across the Network in the Past 24 HoursAccording to Coinglass data, liquidations across the entire network reached $236 million in the past 24 hours, with long positions accounting for $167 million and short positions for $68.3 million. Among these, Bitcoin long liquidations totaled $9.68 million, while Bitcoin short liquidations reached $18.05 million. Ethereum long liquidations amounted to $22.43 million, and Ethereum short liquidations were $16.27 million.
- 16:40Analyst: Consecutive Days of Declining Alpha Trading Volume on a Certain Exchange May Trigger Tonight’s KOGE and ZKJ Sell-offOn-chain data analyst Ai Yi (@ai_9684xtpa) published a post providing further analysis of tonight’s KOGE and ZKJ flash crash events: 1. Why dump KOGE before ZKJ? The main reason may be that ZKJ has contracts, so shorting on exchanges can be synchronized with dumping on-chain; in addition, from a liquidity perspective, ZKJ’s liquidity is relatively better, so crashing its price would require more capital. 2. Why did the dumping start at 8:30, but the K-line performance of both tokens was delayed? Both ZKJ and KOGE are known for good liquidity and stable prices, so their LP ranges are very narrow. When a large amount is dumped through this range and there isn’t enough capital to absorb the sell orders, a flash crash becomes inevitable. As LPs see the price drop, panic withdrawals occur, creating a vicious cycle that further drives the price down; as for those LPs who haven’t exited yet, they’re now stuck holding ZKJ and KOGE. 3. Why choose to dump tonight? Ai Yi speculates that the continuous decline in Alpha trading volume over several days may have been a trigger. The exit of large LPs is also a “race to the exit,” especially since there are few true believers among ZKJ and KOGE holders—most are just chasing yields. In this case, the collapse of the whole structure only needs one supporting pillar to break.