Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC 
ETH 
SOL 
XRP Bitcoin, Ethereum and XRP fell back after strong gains over the weekend
Bitcoin fell to US$75,500, Ethereum fell below US$2,400, and XRP fell below US$1.50. Behind the market fluctuations, Wintermute, the main market maker, was accused of opening a large number of short positions, which attracted widespread attention.
Bitcoin surged from US$64,000 to about US$80,000 in a short period of time, experiencing one of the strongest weekly moves in recent years, but encountered selling pressure on Sunday. After failing to stabilize above $77,000, Bitcoin briefly fell to $75,500. Although prices subsequently recovered above $76,000, the day's decline remained at about 2%.
Wintermute attracted attention over Bitcoin and Solana transfers
According to Onchain Lens data, Wintermute sent approximately US$60 million worth of Bitcoin and Solana to Binance and Coinbase. Such transfers are often interpreted as transferring assets to an exchange for sale.
However, what is more eye-catching is Wintermute's futures holdings on Hyperliquid. Current on-chain data shows that the company holds long positions of approximately US$13.85 million, while holding short positions of approximately US$146.19 million.
This pattern suggests that Wintermute was mainly betting that the market would fall in the above transactions. However, it is not yet possible to determine whether these transfers or positions were solely for the purpose of selling.
(Previously, it was reported that Wintermute transferred 129.54 million SOL (approximately US$12.42 million) and 169.5 BTC (approximately US$13.11 million) to Binance, suspected to be ready for sale; another 407.47 BTC (approximately US$31.36 million) were transferred through intermediate wallets and transferred to Coinbase.)
Why did Bitcoin fall to US$75,500?
Bitcoin's decline after its surge brought significant volatility over the weekend. BTC has risen all the way from the US$64,000 level to approximately US$80,000.
Bitcoin failed to hold the $77,000 mark on Sunday, falling more than $1,500 in the short term to hit $75,500. After this level gained support, BTC rebounded back to above US$76,000, but still recorded a decline of about 2% on the day.
Ethereum and XRP fell even more sharply. ETH fell about 5% to fall below $2,400;XRP fell 6.5%.
XRP encountered resistance at $1.70 on Friday night and Saturday morning, and fell back below $1.50 again after this decline.
A $350 million clearing occurred in the cryptocurrency market
The weekend's decline led to huge losses on leveraged trading. According to CoinGlass, about $100 million of long positions were liquidated in the past hour alone.
Bitcoin and Ethereum each contributed approximately US$41.5 million in these liquidations.
The total liquidation amount in the past 24 hours has exceeded US$350 million. During the same period, more than 90,000 investors had leveraged positions liquidated.
Bitcoin has gained about $15,000 in just a few days, raising the possibility of a short-term correction in the market. Sunday's trend was one of the first significant declines since this strong rally.
The key issue currently concerned by the market is whether Bitcoin can gain support in the US$75,500 to US$76,000 range. If that level is held, the weekend's decline may be just a short-term correction. However, if selling pressure continues, mainstream altcoins such as Ethereum and XRP may face a deeper correction.
The content of this article is based on public market data and does not constitute investment advice. It is recommended that you conduct your own research and judgment.
