Crypto weakness, ZEC leverage and bottom-calling
Crypto sentiment is weak, with a failed BTC breakout, ETH dip-buying, and stressed ZEC longs on Hyperliquid, while commentators complain about KOL-driven trading.
What we know
An account on X described a failed BTC breakout and ETH weakness. Another account on X flagged a ZEC bull long $20M on Hyperliquid, while several accounts on X were buying ETH. Another account on X saw a bullish BTC divergence on 12hr candles. Another account on X RT'd that social trading must die.
How the story developed
Crypto sentiment is weak, with a failed BTC breakout, ETH dip-buying, and stressed ZEC longs on Hyperliquid, while commentators complain about KOL-driven trading.
Spot BTC and ETH ETFs saw heavy outflows, stablecoin supply fell, and public companies shed BTC even as treasury firms kept buying.
Spot BTC ETFs shed $1.28B in five days while traders watch bear flags and a large trader lost nearly $480M on Hyperliquid.
Spot bitcoin ETFs lost $430.2M Thursday, led by Fidelity's FBTC, and ether ETFs lost nearly $100M.
Crypto traders say the dip was a midterm-driven 'fake dump', with bottom calls, short liquidations and positive options and spot flow. Spot ETFs still saw outflows on Tuesday.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.