数据分析大师

What the market is bargain-hunting isn’t BTC or ETH—it’s old-school altcoins like XRP.#持仓异动 #OI分析 #XRP
XRP open interest in 24 hours surged 5.7%, pushing total OI to $2.03 billion—outpacing BTC’s 1.3% and BNB’s 4.0% increase. The key is that this buildup happened in an environment where funding rates are annualized at 17%. CoinEx orderbook funding rates even jumped to an annualized 319%. Even though longs know their positions are expensive, they’re still charging in.
In 24 hours, $15.37 million was liquidated—97% of it was long positions. It’s a kind of entry fee. But those who added to their positions clearly don’t seem to feel the pain.
On the other side, positions are being reduced. SOL OI fell by 2.3% ($3.97 billion), and ETH fell by 1.1% ($20.2 billion). SOL’s funding rate has already turned negative (annualized -2%). Shorts are paying the bill, but longs still aren’t willing to add positions. After consecutive drops, the bargain-hunting capital is clearly more tilted toward XRP than SOL or ETH.

BTC ETF was yesterday pulled by $143 million. The Fear Index stayed at 29 for the sixth day, but altcoins weren’t waiting.\n\nTop 5 by 24h gain: STONK +59%, BTR +49% (trading volume $104M), VELVET +39% (trading volume $515M), KET +36%, DOOM +35%.\n\nMost outrageous: LUNA in three versions rose at the same time—LUNA2 +16.8%, LUNANEW +16.7%, LUNA +16.6%. These three contracts point to the same underlying narrative, and money is voting with its feet—dead projects are revived and pumped.\n\nNow looking at the downside: BEAT continues to plunge. In the last 24h it saw $6.61M liquidations across 7,389 trades, averaging just $895 per trade. Retail leverage density is still the highest on the stage.\n\nHow to interpret this divergence? In 24h, $48M liquidations in BTC (92% longs), $18.65M in ETH, and $15.08M in XRP (99.9% longs). Main funds get beaten up on BTC, while hot money drills into altcoins instead. BTR traded $100M, VELVET $500M, CYS $530M—this isn’t just small-scale action.\n\nThe Alt Season Index is 68; 34/50 outperformed BTC. Fear Index at 29 says retail is scared, but the altcoin gainers board says smart money is acting. The widening spread like this is usually a signal before big volatility.\n\nDo you think this altcoin rotation is the real deal, or just a needle-poke?\n\n#LUNA #BTR #Alt Season\n\nCheck in real time: https://www.coinboss.com/gainers-losers

In one hour, $31 million was liquidated across the whole network, with longs accounting for 98%. What does that mean? In the past 60 minutes alone, more than $5,000 of long positions per second were being liquidated.
In total over 24 hours, $145 million was liquidated, with longs bearing 81%. For BTC, $48 million in a single-coin liquidation, of which 92% was longs. XRP is even more extreme: of the $14.7 million liquidated, 99.9% was all longs.
What’s interesting is the funding rate for XRP. The average across 25 exchanges is 0.0155% (annualized 17%). CoinEx alone spikes to 0.30%/8h, which is over 300% annualized. The longs knowingly keep adding leverage despite the absurdly high holding costs, and in the end they got liquidated—nearly 15 million in 24 hours.

251 days, 695 trades with 632 winners, a win rate of 90.9%.
The most ruthless thing about this address isn’t the win rate—it’s that it opened 17 positions at the same time. LIT long positions: floating profit $680k, ROE 308%; TRUMP short positions: floating profit $756k, ROE 356%; DOT shorts: ROE 407%; APT shorts: ROE 457%. Each trade is in a different direction—both longs and shorts are opened—yet almost every one is profitable.
Realized profit is $2.79 million, with a total floating profit of $3.57 million across 17 open positions. In other words, the floating profit alone is 28% higher than the realized profit.
No liquidation. With the size of these 17 positions, it has never been liquidated even once.
Only $12,662 in fees and costs. With a total trading volume of $43.5M, the fee rate is less than 0.03%. This is the power of HL’s low fees.

Among the seven exchanges for HFT, the funding rates on perpetual contracts have all flipped negative. Shorts are paying an annualized 46% holding cost to keep holding. This consistent bearishness is either smart money correctly anticipating a big drop, or it’s a textbook-level prelude to a short squeeze.
Let’s look at the specific data. $HFT Currently, the average funding rate is -0.042% every 8 hours, which annualizes to about -46%. Breaking it down: Crypto.com is -0.184%, Kraken is -0.088%, both more extreme than the average level. None of the seven exchanges is positive—this is a very rare signal in the perpetual contract market.
For comparison. $BTC across 26 exchanges, the average funding rate is +0.0035% (annualized +13%); $ETH it is +0.0037% (annualized +13%). The funding direction of mainstream coins overall leans toward long positions, but HFT is the complete opposite—the market’s consensus bearish sentiment toward this coin is far higher than the broader market.

Conclusion: When we said shorts would get buried back when the CYS funding rate was annualized at 212% in the morning, we nailed it. To this point, CYS is up 26.4%, and 87.6% of liquidations are entirely shorts— the short-squeeze logic has been fully realized.
This morning we posted that $CYS funding rate annualized was as high as 212% (average across 10 exchanges), the most extreme short-squeeze signal in the entire market. At the time, shorts had already been liquidated by 79%.
The situation is even more intense:
• CYS 24h gain +26.4%, trading volume $527 million
• Total liquidation amount $1.36 million; shorts account for 87.6%
• 1,175 liquidation trades are almost all shorts
• The price climbed steadily from the morning low with almost no meaningful pullbacks

Today, BLUAI delivered a textbook-style double kill of both longs and shorts.
First, look at the funding rates. Across 10 exchanges, the average annualized rate is -19.4%, the second-worst in the whole market. Shorts pay about 15k per day in funding fees, so their holding cost isn’t low.
Look again at the liquidation. In 24 hours, there were $1.96 million liquidated, with 2,509 trades. The strange part is this—shorts liquidated $1.11 million, accounting for 56.5%, while longs liquidated $850k. Overall, longs were liquidated 84% of the time. BLUAI did the opposite: going short means you pay, and you still get liquidated and squeezed.
Compare it for a clearer picture. With an annualized funding rate of +3.8%, longs pay; longs were liquidated 93%. With +18.9% funding, longs pay more; longs were liquidated 99%. The logic checks out—turn it around: when shorts pay, shorts die even more. Intraday price made a W shape: shorts built positions at the low end and got pierced by the second bounce; longs chased higher and then got buried by the pullback. In this kind of high-volatility, low-liquidity coin, funding-rate signals are basically meaningless.

Shorting takes guts—z3ro2 has them. Zero liquidation in 284 days, 82% win rate net profit of 3.15 million—this is his confidence to go all-in short with a total notional of 28.7 million across five coins.
First, look at the track record: 489 trades, 402 wins, win rate 82.2%. The maximum drawdown of 81.5k accounts for only 25.9% of the profit—he can afford it. Fees totaled just 62k, which is 0.027% out of 230 million in trading volume. At Hyperliquid, that’s the level of big-holder rebate.
All five positions are short:
• ETH short 10.24 million, entry 1857, floating loss 115k
• SOL short 7.52 million, entry 75.4, floating loss 19k
• BTC short 6.07 million, entry 63759, floating loss 23k

Don’t rush to pick a side— the long side was liquidated by $54.63 million over 24 hours, but 4 hours ago the short side was already forced into a squeeze, and after 1 more hour it cut back to longs and got hit. In an environment where the fear index is 29, this kind of two-way cleanup shows both sides are probing, but no one dares to put in a big bet.
Over the past 24 hours, total liquidations across the whole network hit $164 million. Longs account for 83.4%, with 61,288 liquidation orders. $54.63 million (longs 93%), $47.64 million (longs 88%). BEAT has 7,461 orders—ranked first across the market—but the average per order is only $929—another clear example of retail-mass-liquidation.
Cut into 4-hour intervals and faces change: In the $17.47 million liquidations, shorts make up 51.2% (8.95 million), while BTC shorts explode by 920,000. Cut another hour and it flips back: In the $5.53 million liquidations, longs are 67.4%. The market keeps repeatedly crushing short-term positions.

Conclusion first: while things look like panic on the surface, it’s actually portfolio rebalancing. BTC ETF outflows happened, but altcoin season has surged to 68—money hasn’t left the market.
$BTC On August 10, ETF net outflows were $145 million, $ETH ETF outflows were 14.59 million. But if you extend it to 7 days, BTC ETF saw cumulative net inflows of $443 million, and ETH ETF +239 million. The large outflows from the first two days look more like short-term profit-taking rather than a trend of withdrawal.
$SOL ETF is the only one that increased its position against the trend—+88.3 million yuan in a single day, and +93.7 million yuan over the past 7 days. Institutions’ conviction in SOL has never wavered.
The altcoin season index surged to 68 (out of 100); it’s only 7 points away from the threshold for altcoin season. Out of 50 samples, 34 outperformed BTC. BTC fell 19% over 90 days, but TUT jumped 689%, CYS rose 218%, and BLUAI climbed 117%—the money didn’t leave; it’s just moving from big BTC into altcoins.

Total liquidations across the whole network in 24h were $181 million, with 85.5% being longs liquidated—but don’t be fooled by this number.
Look at the 4h data: of the $15.7 million liquidations, shorts account for 68%. In the 1h window, it’s even more extreme—among $4.31 million, shorts make up 59%. The market direction is quietly flipping.
BTC surged in the past 24h by 63.45 million (93.7% longs), ETH at 55.23 million (89.4% longs), and XRP at 9.49 million—almost all longs (99.3%). In the past day, leverage accumulated by longs was flushed out as price moved downward.
But BEAT is the retail-trader meat grinder: 5,682 liquidations exceeding BTC’s 5,644, ranking #1 across the entire market. And the total amount is only $5.27 million—average per liquidation is under $930. The threshold is extremely low and leverage is maxed out, harvesting small-cap, high-frequency players.

Across the whole network in 24h, total liquidations were $184 million, with longs accounting for 85.7%.
But the structure is more interesting than the total. Let’s break it down by exchange:
🏦 Binance 68.79 million (37.4%) — 29,270 trades, average per trade $2,350
🥈 OKX 39.76 million (21.6%) — 8,757 trades, average per trade $4,540
🟣 Hyperliquid 22.62 million (12.3%) — 3,742 trades, average per trade $6,045
🔶 Bybit 20.46 million (11.1%) — 10,447 trades, average per trade $1,959
🌐 Gate 13.97 million (7.6%) — 5,331 trades, average per trade $2,621
Hyperliquid long liquidations account for 98.7%; only less than 300k is short liquidations. This suggests that nearly all of HL is highly leveraged long positions that are stubbornly holding on. The average liquidation amount is 2.6 times that of Binance. Large traders are concentrated on on-chain exchanges, while retail traders are on centralized exchanges.

In liquidations, BTC saw $63.64 million and ETH $58.34 million—together $122 million, accounting for 66% of the entire network. Longs are still the protagonists of today—of the $184 million liquidated in 24 hours, longs contributed $158 million, or 86%.
But the 4-hour chart is interesting. Recently, total liquidations across the whole network were $15.94 million over 4 hours, with shorts making up 70%. After being hammered for the past 24 hours, the long side has started mounting a localized counterattack. It’s even clearer on the 1-hour: $2.76 million in short liquidations versus $1.67 million for longs—shorts are nearly double the longs.
XRP’s numbers are absolutely out of this world. In the past 24 hours, liquidations totaled $9.55 million, with 99.3% belonging to long positions—while shorts liquidated only $67,000. XRP longs have already leveraged up to the limit; any pullback will trigger a chain of liquidations.

Conclusion first: the crypto market is now playing out a signal battle—two consecutive days of net outflows from ETFs show institutions are withdrawing, but over the last 4 hours, short liquidations accounted for 70%, indicating that the shorts are also being squeezed. In a market with no clear direction, chasing either side is likely to get you hit.
First, look at the ETF side. On 8/10, the spot BTC ETF recorded net outflows of $145 million, marking the second consecutive day of net selling. The ETH ETF also saw outflows of $14.59 million. Looking only at these two days, it seems like institutions are running away, but when you extend the view to 7 days—BTC ETF cumulative net inflows are $443 million, and ETH ETF cumulative inflows are $239 million. An outflow of $150 million over two days, placed in the pool of cumulative net inflows of $52 billion, is simply normal fluctuation.

Gold squeezes higher; commodity shorts over the past 24 hours were liquidated for $25.75 million.
Based on TradFi data, in the last 24 hours, liquidations in the commodities sector totaled $28.87 million, of which 89.1% were short positions. XAU gold contributed the most: shorts were liquidated for $25.64 million, while longs were only $3.24 million. Silver (XAG) shorts also took $19.91 million.
What’s interesting is that the direction in the stock market is completely the opposite. In the stock sector, there were liquidation losses of $26.95 million, with longs accounting for 65.6%. Sandisk (SNDK) longs were liquidated by $3.21 million, and SPCX longs by $1.6 million. In the semiconductor storage supply chain, cumulative liquidations over the past 30 days totaled $680 million; even now, longs are still adding leverage.
It’s uncommon to see such severe divergence between commodities and stocks. On one side, safe-haven assets are getting short-squeezed; on the other, tech stocks’ longs are still chasing. This kind of split usually doesn’t last too long—either commodities pull back, or tech stocks catch up with a sell-off.

Today’s gain/loss leaderboard showed an unusually extreme divergence.
BLUAI surged 89% in 24 hours, with $493 million in daily trading volume—taking the #1 spot outright for the biggest gain. VELVET followed closely up 62%, but its trading volume was only half of BLUAI’s. Ironically, BEAT—the worst decliner—had a trading volume of $1.245 billion, the largest in the entire market today, suggesting that a large amount of capital was fleeing in panic.
BEAT fell today by 65%, but in the 24h liquidation data, BEAT had 5,647 liquidation orders with only a total amount of $5.28 million. The number of trades is dense while the amount is small. This is a typical retail high-leverage pattern: many small positions get liquidated one by one, indicating that the holdings are extremely fragmented among retail users.

The fee rate for the coin CYS is outrageous.
The average fee rate across 10 exchanges is 0.0194%, which translates to an annualized return of over 212%—the highest fee-rate coin in the whole market today. For comparison, BTC’s fee rate annualized is only around 5%, meaning CYS is 42 times BTC.
Even more ruthless is the fee distribution: Binance 0.0374%, BitUnix 0.038%, LBank 0.0374%. The three major exchanges are almost identical, indicating it’s not an anomaly at a single exchange—rather, the entire market is shorting CYS.
So what was the outcome for the shorts? Out of the $1.74M liquidations in 24h, shorts contributed $1.38M, accounting for 79%. The shorts paid exorbitant funding fees, and then the longs turned the tables to squeeze them into forced liquidations.

Over 145 days and 239 trades, he won 202 times, for a win rate of 84.5%. Realized profit of $4.33 million.
This trader only focuses on HYPE and ZEC. Over 145 days, he rolled out a total trading volume of $179 million, with zero liquidation records. It’s not that he hasn’t encountered extreme market conditions—he genuinely knows when to stop.
But the most interesting part is the current position holdings.
HYPE longs of 130,000 coins, opened at an average price of $56.97, 5x incremental buys, with a position value of $6.67 million. An unrealized loss of $734,000, and the position ROE is already -49.5%. $743,000 in margin is propping up a $6.67 million position; the liquidation price is 48.01, and if it drops another 15%, it’s game over.
He even survived a historical max drawdown of $1.53 million. This time, with a $730,000 unrealized loss, it doesn’t seem like he’s planning to run. With an account of $37,400, he’s almost all-in on HYPE in one direction—whether it’s conviction or stubbornness is up to how you interpret it.

Over the past 24 hours, the entire network saw liquidations totaling $182 million. Longs accounted for 86.6%, or more than $157 million. The two big coins, BTC and ETH, liquidated $62.55 million and $57.66 million respectively—together making up 66% of the whole market.
But what’s most interesting is the data from the last 1 hour: shorts were suddenly squeezed by $3.94 million, accounting for 71.7% of 1h liquidations. One coin, ETH, alone contributed $1.48 million in short liquidations, and BTC shorts also repaid $0.92 million. The same pattern holds on the 4-hour view: shorts liquidated $9.01 million, and the long/short ratio shifted from 9:1 in the 24h window to 6:4 in the 4h window.
Basically, in the first 22 hours, the long side was wiped out. Now the short side is starting to bottom-fish and counterattack, only to get reverse-liquidated.

The market is in an extremely split state—#恐惧贪婪指数 for the 4th day in a row, it has been stuck at 29, but #山寨季 the index has quietly climbed to 68. Two signals point in completely opposite directions.
Out of 50 mainstream coins, 34 have outperformed $BTC within 90 days, while BTC itself is down 18.84%. Fear is spreading, yet altcoins are recovering. The $182 million in liquidations over 24h also shows the disagreement: longs accounted for 86.7% and were washed out; $ETH 57.85 million longs accounted for 91%; $SOL 4.36 million longs accounted for 93%. But in the last 1 hour, among the $5.22 million liquidations, shorts actually made up 71%. The latest push by the shorts has already been pinned back.