Open interest on Hyperliquid’s XPL market plunged from $160 million to $30 million in minutes as a trader-triggered price spike caused mass auto-deleveraging.
Ethereum’s outperformance over Bitcoin is being reinforced by institutional flows, new altcoin narratives, and rising market odds of a $5K test, with macro data now set to challenge that conviction.
Democrat Kristin Johnson's exit means the crypto regulator will fall to a single commissioner, Acting Chairman Caroline Pham, as Trump's pick awaits the Senate.
The lawmaker's objections over crypto abuses are seen as a major hurdle needing to be cleared before the Senate's crypto market structure bill can move.
Technical indicators suggest potential for a bullish reversal, though market sentiment remains divided between risks of a breakdown and optimism for a rebound.
Traders piled into short positions against WLFI as the Trump-linked DeFi token debuted on Hyperliquid, sending its price tumbling more than 44% in hours.