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🚨Breaking: In the past 24 hours, liquidation across the entire network totaled approximately $1.19 billion, of which longs accounted for $1.05 billion.
ETH liquidation was $350 million, higher than Bitcoin’s $304 million.
This round mainly targeted bullish leverage.
$ETH had both a higher percentage drop and a higher liquidation amount than Bitcoin, indicating that long positions are more crowded and under heavier pressure.
On the first day after the National Day holiday The Shanghai Composite opened down 0.08% The Shenzhen Component opened up 0.07% The ChiNext Index opened up 0.17%
Retail dumps 300M ETFs in a single day, breaking the 2020 pandemic record—does the market need to top out?
Almost all of it was dumped into chips: ➣ SOXX -270M in one day ➣ SOXL -1.2B this week ➣ Total for the week: nearly 1.9B This isn’t “the market collapsing”—it’s that the chip momentum is hot, and retail first pulled its hands back.
300M is just a drop in the bucket compared with tens of trillions in ETF assets. But retail’s daily net sell order set a record, and the selling was highly concentrated in semiconductors. The signal isn’t in the size, but in the structure: products like SOXL need daily rebalancing, and part of the outflow is mechanical decay—it doesn’t fully equal an emotional breakdown. But if you look at it together with the “largest weekly outflow since June,” it suggests retail is actively reducing high-multiple tech exposure.
This is different from 2020. Back then it was a genuine liquidity vacuum—everything got sold. This time it looks more like profit-taking: the AI chip narrative has been digested, and leverage is being cashed out first. Institutions have still been buying US stocks these past few weeks, while retail is selling. Retail’s record-breaking selling doesn’t necessarily mean it’s the market top—it still needs more observation.
My three-sentence takeaway: ➫ Retail locks in profits ≠ bears take over ➫ Leverage exits first; spot exits after ➫ Take crypto into high-beta positions first—don’t be the one to panic and trigger the sell-off
Money was pulled from gold and from $BTC to chase chips—it’s already rotated once. Now the chip leverage is being unwound. The next question is simple: will institutions step in?
Just now: Because Iran refused to make concessions on the terms for reopening the Strait of Hormuz, and Trump also refused those terms, Brent crude oil prices broke above $106 and continued to climb.
Trump’s mouth—really taking it to the extreme... Can $BTC hold on?
The price has pulled back from the 87K high and is undergoing high-level consolidation.
If it reclaims and attracts long-side liquidity at 80K–81.5K, and then holds as support again,
combined with the long-side sentiment catalyst of the National Day holiday (Oct 1–Oct 10), the liquidity around 87K is very likely to be consumed—it’s also quite reasonable to liquidate as high as 92K.
Then 80K–81.5K is the most critical support zone in the near term.