Crypto News and Tradfi News - COINOTAG

• JPMorgan fixed income revenue fell 4% to $5.4 billion, missing estimates by over $500 million.
• JPMorgan equities desk revenue rose 49% year over year to $5.0 billion.
• Goldman Sachs equity trading revenue jumped 72% to $6.44 billion in the quarter.
First Bond Desk Decline in Two Years
JPMorgan Chase (JPM) opened the third-quarter bank earnings season with an unwelcome figure: fixed income trading revenue came in below analyst estimates by more than $500 million. The desk produced $5.4 billion for the quarter, down 4% year over year, and recorded its first revenue decline in more than two years.
The miss landed despite conditions that should have helped bond traders. The 10-year Treasury yield sat near 5.2% on Tuesday, yet expectations of prolonged high rates did not translate into client activity. Herman Chan, a senior US banks analyst at Bloomberg Intelligence, tied the shortfall directly to those rate expectations, which kept clients on the sidelines through September. The bank's overall revenue and net income both landed below analyst expectations as well, so the bond desk's stumble was not offset elsewhere on the income statement.
Equities carried the other side of the trading floor. JPMorgan's equities desk generated $5.0 billion, up 49% year over year, meaning the equity franchise expanded even as fixed income slipped. The divergence sets up the fourth quarter awkwardly: Chan expects seasonal declines in fourth-quarter trading revenue, and the equity run that powered this quarter now leans on the AI trade, which wobbled on Tuesday when chip stocks sold off. A pullback there would remove the growth engine that cushioned the bond desk's first drop in more than two years.
Goldman Sets the Quarter's Pace
Across the street, Goldman Sachs set the benchmark. Its equities desk generated $6.44 billion, a 72% jump year over year, nearly double the $3.47 billion its fixed income desk produced. Fixed income slipped 1% from a year earlier, and the division housing both desks still grew 32% to $13.46 billion. Chan called Goldman the gold standard for the third quarter.
The rate backdrop explains the split. New York Fed President John Williams said on Tuesday that one more rate hike this year looks appropriate, and that he does not expect another in 2027. Most Fed officials backed a further 2026 increase in the latest meeting minutes, and JPMorgan's own house view anticipates an additional hike in December. Elevated rates kept the lending side healthy: the bank's net interest income, the gap between what loans earn and what deposits cost, rose 12.8% to $27.04 billion.
Credit quality offered no broad red flags. The one caution came from Wells Fargo, which set aside $1.03 billion for loan losses, up from $681 million a year earlier. But trading, not credit, defined the quarter: clients traded equities in size while waiting out the bond market, and trading volumes on the equity side rewarded the desks positioned there.
Shares Sit Just Above Scored Support
JPMorgan shares last traded at $332.73, down 1.38% over 24 hours, inside a $321.64 to $344.98 range. COINOTAG data shows the strongest support on our composite scoring at $331.21, scored 90 out of 100, with the strongest resistance at $338.06, scored 100 out of 100. The daily RSI reads 37.3 and the trend reading is sideways. The shares are holding just above that top-scored support; a decisive close below it, rather than the earnings miss itself, would be what changes the stock's structure.

• ExVul reported on October 14 that sven.eth lost 9.1231 ETH, about $22,770, in an EIP-7702 wallet drain.
• The drain also took 1.69271471 TAPEETH from the wallet tied to sven.eth.
• The attacker sponsored a type-4 transaction carrying the victim's valid EIP-7702 authorization, with no flash loan involved.
9.1231 ETH Drained From sven.eth via EIP-7702
An Ethereum (ETH) wallet tied to the name sven.eth lost 9.1231 ETH, worth roughly $22,770 at the Ethereum price when the findings were published, together with 1.69271471 TAPEETH, after a malicious EIP-7702 authorization placed the account under an outside party's control. The theft itself is documented on-chain. How the attacker came to hold the victim's signed authorization has not been established by anyone reporting on the incident so far. Blockchain security firm ExVul flagged the drain on October 14. Its alert, posted on X, describes an attacker-sponsored type-4 transaction that carried the victim's valid EIP-7702 authorization, with no flash loan or automated market maker manipulation anywhere in the flow. The transaction hash, 0x36e0d1491c14e3d8e50bc70d73675b89d2d4712814d16f808f957c84fde820ee, is verifiable on Etherscan. Once the network processed that authorization, subsequent calls to the wallet executed the delegated contract's instructions inside the victim account. The mechanism at the center of the case, EIP-7702, is Ethereum's account-abstraction feature: it lets an ordinary externally owned account delegate execution to smart contract code, enabling sponsored fees, transaction batching and more flexible wallet permissions. The feature shipped with Ethereum's Pectra upgrade and has backed legitimate uses since, including third parties covering network fees. The same design becomes an attack surface when the delegated code is hostile. Ethereum's own specification warns that poorly designed or malicious delegation contracts can hand an outside party extensive control over the affected account. The exposed account is the crypto wallet address 0xd8ba9e5886b7000bace2c9dbdd0be98ac77d4a28, which the alert links to sven.eth, an Ethereum Name Service style identifier; readers new to such names can consult our guide to getting a .ETH domain. The $22,770 figure covers the ETH side alone, and the alert fixes no dollar value on the token side of the loss. Comparable delegation abuse has been tracked across Ethereum since 2025, a pattern this case fits.
ExVul's investigation attributed the attack to the address 0x9208097c007be15e28b20e94e66870a3f9f820bc, with the malicious delegation pointing to 0x0366b55f948a688888ca6e029ad0831f6ec260d1. The attacker paid the transaction fee and submitted the signed authorization himself, so the wallet owner never funded or broadcast the transaction that activated the hostile code. Once activated, the code ran under the victim's account context: it invoked the PodMining.claim() function, moved the resulting TAPEETH rewards to the controller, and withdrew the wallet's ETH balance. The firm stated the exploit is not a TAPEETH or PodMining bug. Its analysis identified the account authorization as the entry point, with no evidence of an exploit involving liquidity pools or price manipulation. ExVul did not establish how the attacker obtained the victim's authorization; its public findings name no phishing site, malicious application or compromised signing interface. The warning that followed concerns how EIP-7702 delegations persist. A delegation, once set, does not clear itself when the transaction ends: the authorized contract stays attached to the wallet until the owner replaces or removes it. The owner retains control through the original private key and can reset delegation by authorizing the zero address, but hostile code may remain dangerous until that change is processed. ExVul recorded the malicious delegation as still active at Ethereum block 26,188,153 and warned against sending new assets to the address while it persisted. Its recommendation was to clear or replace the authorization and move surviving assets out of the exposed hot wallet into a cold wallet. The alert did not establish whether the victim subsequently removed the code or recovered any assets, and no reimbursement arrangement, recovery transaction or law enforcement action has been identified. The case echoes earlier delegation warnings: in May 2025, market maker Wintermute found that more than 97% of observed EIP-7702 delegations pointed to identical sweeper contracts able to transfer incoming ETH to attacker-controlled addresses. The method here differs from bridge-level thefts such as the recent Autheo bridge exploit.
How the Signature Was Obtained Stays Open
Taken together, the on-chain record and ExVul's post-mortem settle the mechanism: a signed EIP-7702 authorization, activated by an attacker-paid type-4 transaction, let code inside the victim account claim rewards and sweep the balance. The root cause sits with the authorization, and the remediation follows from it: clear or replace the delegation, then move surviving funds to a hardware wallet. What nobody has settled is the first link in the chain, the step that produced the victim's signature. No phishing site, malicious app or compromised signer has been named. The alert records the delegation as active at block 26,188,153; whether the owner has cleared it since sits outside the documented record.

• US Treasury fined Bank of America $1.2 billion on Tuesday, October 13, over AML control deficiencies
• Futures long liquidations dragged Bitcoin below $81,000 early Tuesday after crude rebounded
• Bitcoin (BTC) rebounded to touch $84,000 after yields fell on the Columbus Day bond reopening
A $1.2 Billion Penalty Lands Before CPI
The US Treasury disclosed on Tuesday, October 13, that it had imposed a $1.2 billion penalty on Bank of America over deficiencies in the bank's anti-money-laundering controls, and the announcement landed while the Bitcoin (BTC) price sat in a narrow band near $83,000 ahead of today's inflation print. Penalties of this size rarely arrive the day before a CPI release, and the timing gave traders a second storyline beyond the range trade itself. The comment circulating on trading desks was pointed: digital assets are routinely cast as the money-laundering vector of the financial system, yet the largest compliance penalty of the week went to one of the largest traditional banks in the United States. The Treasury's enforcement announcement frames the action as a control failure inside a bank, not a judgment on any asset class, a distinction that matters for how the crypto market prices regulatory risk.
Tuesday's session itself ran the full macro gauntlet. After a failed push at $87,000 last week, a triangle breakdown and a double top with its neckline at $82,000 completed yesterday, dropping price into the $80,000 band, a slide amplified by a large transfer from the US government's BTC wallet, holdings often discussed as a future Strategic Bitcoin Reserve and read by traders as whale distribution. President Trump's weekend post claiming a Russia-Ukraine energy ceasefire pushed oil below $90 at the start of the week; President Zelensky's reply that Russian attacks were continuing sent crude back up, and futures long liquidations dragged BTC under $81,000 early Tuesday. Yields fell as the US bond market reopened after the Columbus Day holiday, and Bitcoin bounced to touch $84,000 before stalling. Saudi airstrikes near oil facilities in Sanaa then firmed crude into the overseas session; BTC softened, defended $83,000 and settled into a tight, wait-and-see range. For the wider Bitcoin market, the takeaway is that both shocks were absorbed inside a $3,000 band.
Rate Odds Fell From 70% to 10%
Today's CPI is the pivot the whole range hangs on. Consensus looks for headline inflation of 3.6% year over year, up from 3.4%, and 0.6% month over month, up from 0.4%, a deliberately hot set of expectations. The core forecast is 2.5% year over year against 2.4% previously, with the monthly pace seen easing to 0.2% from 0.3%, which leaves room for a modest surprise on the core line instead. Positioning has already moved a long way: after September's rate hike, markets priced roughly a 70% chance of a consecutive increase, but three soft prints in a row, the core PCE deflator, ISM manufacturing and the employment report, knocked that pricing down to around 10%. New York Fed President Williams added detail late Tuesday, saying he expects one hike this year and none in 2027, and the working read ahead of next month's midterm elections is that an October move is off the table unless the data run unusually hot. As long as nothing overturns the October hold expectation, the base case is relief buying once the event clears and a firm tape afterward.
The chart context is the same double top. Its neckline at $82,000 held as support this week, so the pattern resolved as a fakeout, and a range that drifts slightly lower inside a descending channel could actually be the ascending-flag structure that precedes the market's stronger moves. The caution flag: price is still churning near $83,000, and the shape where a market stalls at the neckline and then gives way is common enough that no conclusion is safe before the print. We track these levels on our Bitcoin technical analysis page, and our earlier note on how trading volume cooled near $83,500 frames the same consolidation. The fine also sits inside this calendar: an enforcement hit to a major bank hours before CPI is the headline type that would normally knock risk assets, and BTC's refusal to break $83,000 through it is itself the week's most concrete observation.
Color, Not Correction, for Bitcoin
Our reading is that the fine is color for Bitcoin, not correction. It lands on a bank's control environment, not on chain activity, so it changes nothing about mining economics or the supply picture, and the market's own record is untouched. What it does change is the framing of AML risk: enforcement pressure is demonstrably cross-sector, and a $1.2 billion penalty against a traditional bank is hard evidence behind an argument the asset class has made for years. With hike odds near 10%, the range's fate rides on the core number: a soft core keeps the $82,000 neckline and the $84,000 cap intact, a hot headline resolves the pattern lower. Large holders kept the HODL posture through the tape; attention now rotates back to spot ETF flows, the driver behind the $84,000 test we covered earlier.

• Bitcoin quoted $83,424 at 07:15 UTC on 14 October, down 0.24%, after a 2.30% drop on 12 October.
• Daily trading volume fell 13.04% to about $26.50 billion.
• Five-day daily changes ran +0.43%, +0.95%, -2.30%, +1.61% and +0.32% between 10 and 14 October.
Bitcoin (BTC) price steadied just under $83,500 on Wednesday, holding its ground three days after Monday's 2.30% drop, the steepest of the five daily changes logged. The coin quoted $83,424 at 07:15 UTC, a 0.24% slip on the session, and live monitoring shortly afterwards put it at $83,473, effectively unchanged against that print. Wednesday's daily change registered +0.32%, the fifth entry in a run that has alternated direction: +0.43% on 10 October, +0.95% on 11 October, the 2.30% fall on 12 October, +1.61% on 13 October and today's modest advance. The five-day sequence shows how quickly momentum has flipped: two green days, one sharp red day, then two more green ones, without follow-through in either camp. Each leg down has drawn a recovery attempt, and Monday's slide briefly raised the question of a deeper correction; three sessions on, the tape answers with a pause rather than a breakdown.
Participation is the softer half of the picture. Trading volume fell 13.04% to roughly $26.50 billion, a sign that neither chasing buyers nor aggressive sellers pressed hard inside the tight range, and turnover sits below the prior day's pace. Volume thinned while price held, the profile of a market waiting for a reason rather than exiting. Short-term selling pressure did surface, but it never pushed the price through a major level. Outside flows offered no steer either: the S&P 500 and gold both ended weaker, leaving neither risk appetite nor safe-haven demand clearly in charge, so the largest crypto asset traded on its own supply and demand rather than a borrowed direction. In a tape this quiet, direction matters less than positioning, and positioning is where the day's more telling numbers sit.
Between $81,067 and $84,071
Sentiment tells a two-sided story that matches the price. The Fear and Greed Index read 62, still in greed territory and slightly better than the day before, yet below its level last week, so the froth of the earlier rally has cooled without turning into fear. Google Trends scored 47, unchanged from the previous day, and attention moving in step with price points to a market content to wait. Bitcoin's dominance of the global market edged up 0.07 percentage points to 59.86%, a tilt toward the largest asset and away from altcoin exposure that reads as defensive allocation rather than fresh risk appetite; money concentrated in the bellwether instead of leaving the market. On-chain data fills in the mechanics behind the calm. The Spent Output Profit Ratio, which measures whether coins leaving wallets move at a profit or a loss, came in at 1.0055, identical to the prior day: sellers realized slight gains, but no capitulation. Perpetual funding flipped negative at -0.0006%, down from +0.0080% a day earlier, an annualized -0.6%, so the leveraged longs who amplify rallies pulled back quickly. Exchange balances rose 542 BTC to about 2.446 million BTC, and net inflows of 1,590 BTC, smaller than the prior day's 1,799 BTC, kept the stock of coins that whales and short-term sellers could release on the tape, though at easing intensity. The rise is marginal in percentage terms, so the supply overhang did not jump; it stopped shrinking. Active wallets on the proof of work network fell to 651,256 from 674,966, participation retreating alongside volume and price.
Our composite scoring keeps the wider frame constructive: the trend still reads as an uptrend, with the Relative Strength Index at 53.14. Resistance at $84,071, scored 88 out of 100, sits about $600 above the live price of $83,473; support at $81,067, scored 93 out of 100, rests roughly $2,400 below, per our Bitcoin technical analysis. Derivatives positioning shows funding back at 0.0039% with $15.49 billion in open interest, firmer than the negative perp print recorded earlier in the session. A renewed $84,000 test, tied to returning spot ETF demand, is the next trigger, and holders who HODL through this stand are the condition for the recovery to extend. Until price closes the $600 gap to the ceiling or surrenders its $2,400 cushion to the floor, this week reads as a pause, not a reversal.

• A Galaxy Digital OTC client sent 134,000 LINK to Binance on October 14, worth about $1.73 million.
• About 14.125 million LINK moved from Chainlink's non-circulating supply wallets to a Binance deposit address on October 9.
• The October 9 transfer was valued at roughly $180 million at the time.
134,000 LINK from a Galaxy Digital Client
Chainlink (LINK) logged a fresh exchange deposit from a large holder on October 14. On-chain tracking platform Onchain Lens recorded 134,000 LINK moving from a Galaxy Digital over-the-counter client to Binance. The lot carried a value of about $1.73 million at the time of the transfer. The deposit record confirms one fact and stops there: the tokens reached an exchange address. Whether the client sold any part of the holding after arrival is not visible on-chain. The OTC route matters here, since over-the-counter trades settle bilaterally and a client's tokens can move to an exchange without a public market order preceding them.
The transfer lands during a stretch in which Chainlink's price and its adoption footprint moved at very different speeds. LINK gained roughly 24.4% between September 1 and October 6. Santiment's four-week average of newly created addresses rose only about 2% across the same period, from 1,225 per day to 1,249. Santiment states the limits of its own metric plainly: one person can open many addresses, and heavier activity on wallets that already exist never enters the new-address count. A daily creation rate near 1,250 therefore measures address formation, not holder count and not buying intent. Wednesday's deposit is the smaller of two Binance movements the on-chain record now shows for the asset. Exchange inflows of this size are routinely read as potential selling supply, since tokens must sit on an exchange to be sold on its order books, but the read stops at the deposit address. Onchain Lens attached no purpose to the transfer, and no sale has been confirmed. For anyone running Chainlink technical analysis on the chart, the 134,000 LINK stands as unspent supply until the tape says otherwise. Watchers of Chainlink flows now have a second, much larger deposit to weigh against it.
14.125 Million LINK Left Non-Circulating Wallets
The larger flow came first. On October 9, roughly 14.125 million LINK moved from wallets holding Chainlink's non-circulating supply to a Binance deposit address. At the time, the lot was valued at about $180 million. Non-circulating supply is the token portion held back from circulation, typically under scheduled release schedules, and the deposit shows that tokens left those wallets for an exchange address and nothing more. A movement of this kind requires control of the wallets' private key material, so the on-chain record at minimum confirms an authorized transfer rather than a drained or compromised wallet. No sale has been confirmed for this lot either, and no purpose has been disclosed. Deposits from treasury-adjacent wallets draw attention because they can precede distribution, though the deposit record alone never establishes that step. The scale matters for depth: 14.125 million LINK at roughly $180 million dwarfs the $1.73 million client deposit that followed, and both reached Binance, one of the largest venues in our Best Crypto Exchanges guide.
Santiment's data supplies the adoption contrast. Across the same two four-week windows, Solana's price rose about 20% while its new-address count grew 33%. The two assets paired price and address growth differently: Chainlink's 24.4% climb ran against a 2% rise in daily new addresses, while Solana's 20% advance came alongside a 33% expansion. Santiment repeats its caveat for both assets: new-address counts are not user counts, since a single holder can generate many addresses and rising activity on existing wallets stays invisible to the tally. Our earlier report on how LINK rallied 24% while new wallets grew under 2% covered the adoption side of that divergence. The October 9 and October 14 deposits add a supply-side layer to it: tokens from two distinct origins, a treasury-adjacent pool and an institutional OTC client, both parked at the same exchange within six days.
What the Deposit Trail Establishes
The deposit trail itself is the primary record here. Within six days, Binance received LINK from two different origins: a Galaxy Digital OTC client's allocation and Chainlink's non-circulating supply wallets. Neither deposit shows a sale, and the chain cannot show one until tokens move again. These are spot movements, not leveraged perpetual futures positioning, so no funding signal rides on them. What they do hand traders watching support and resistance levels is a defined pool of potential supply sitting at an exchange. Institutional framing runs separately: Bitwise CIO Matt Hougan has placed Chainlink in his “Mt. Rushmore” of digital assets, a view that leans on enterprise usage an address count cannot see. Against that, adoption stays the open question: a 24.4% price gain next to 2% new-address growth, and no confirmation on whether either deposit has been sold.

• SkyAI's SEC filing of October 13 says about 80% of its tender offer funding is secured.
• SkyAI's Solana treasury fell from about 1 million SOL to roughly 600,000 SOL in two days.
• The tender offer pays $3 per share with a total payout cap of about $201 million.
SkyAI Commits to a $3-a-Share Buyback
SkyAI, the Nasdaq-listed company formerly known as Sharps Technology, has committed to a tender offer that would repurchase its own securities at $3 per share and pay for it largely out of its Solana (SOL) treasury. Its filing with the US Securities and Exchange Commission, dated October 13, states that roughly 80% of the money the offer requires is already in place and that the treasury holds about 600,000 SOL. On October 11 the company had announced a balance of about 1 million SOL, saying it had sold roughly 1 million coins, about half of its holdings, ahead of the offer. The October 13 filing cuts that balance to about 600,000 SOL, a reduction of some 400,000 coins that neither disclosure explains, because neither itemizes trades by day. That gap matters for anyone tracking the offer, since the proceeds of every coin sold are its declared funding source. The altcoin treasury companies that listed on Nasdaq this cycle have mostly accumulated; SkyAI is running the play in reverse, converting a coin reserve into a fixed shareholder payout, and the week's two disclosures show that conversion running ahead of schedule. The Solana (SOL) price sits at $107.38 in our live reading, about 1% lower over 24 hours, still well above the $100 level around which the offer's conditions are written. The coin has spent the session trading sideways, holding a narrow range while derivatives positioning stayed calm. The offer carries a total payout cap of about $201 million, and SkyAI plans to fund it from cash on hand plus the proceeds of these sales, which makes the coin stack itself the program's working capital. The filings do not name the buyers or the prices realized on each sale, so the exact proceeds feeding the buyback remain unconfirmed.
Our composite support and resistance levels frame what the $100 condition means at current prices. Solana trades at $107.38, and the strongest support on the board sits at $105.58, scored 99 out of 100, under 2% below spot; the nearest strong resistance stands at $110.96, scored 87/100. A daily close below $105.58 would put the $100 floor within reach, and a slide through it would catch leveraged longs on the wrong side of a liquidation cascade. Positioning gives no early warning: funding is a neutral 0.0071%, the long/short account ratio reads 2.56, and 24-hour trading volume of $2.35 billion shows the coin repricing without stress.
95% Per Class and a Rejected Bid
The structure of the offer is broad. It targets up to 95% of each designated class of SkyAI securities, common stock alongside a series of warrants, ordinary Nasdaq-listed instruments rather than tokenized stock, with the aggregate payment capped at about $201 million. Any class tendered above the 95% threshold faces proration, meaning some shareholders who apply could still end up keeping part of their position. The filing sets out two assumed conditions: the closing price of SOL staying above $100 for the entire offer period, and participation of at least 50% in every class. SkyAI reserves the right to waive either condition, and it attaches no financing condition, because the market value of its cash and digital assets already exceeds the cap. The $201 million figure is a ceiling, not a commitment: if participation falls short or the price condition fails, the offer can shrink or lapse. On control, the board's posture is settled for now: it rejected the latest acquisition proposal from Forward Industries, a legally non-binding bid, on the stated ground that the proposal undervalued the company. SkyAI has sold into its own treasury before: in the first half of 2026 it moved 135,399 SOL to cover operating costs. The tender offer is expected to open on or around October 15 and run for roughly 10 business days, but the October 13 filing warns explicitly that it may never commence. That warning is unusual for a program the company publicized with its October 11 disclosure, and it leaves holders pricing both outcomes at once. Until the offer opens, the company's stated course is what the filings record: keep selling down the Solana stack, hold the payout at $3 a share, and leave the $100 condition to the market.

• Fidelity's FBTC led with $103.06 million; BlackRock's IBIT added $65.89 million.
• Bitcoin rose 1.5% in Asian trading to $83,900, then traded near $83,442.
• Analyst Killa sees Bitcoin revisiting $87,000 this month on strong buying near $81,000.
$175.6M Back Into Spot Bitcoin ETFs
Whether Bitcoin can clear $84,000 before Thursday's US inflation print is the question this week's rebound has left open. Bitcoin price stood at $83,442 at the time of writing, roughly flat over 24 hours, after a 1.5% climb through Asian trading carried it to an intraday high of $83,900. Two forces pulled the market back up: money returned to the US spot ETF complex, and New York Fed President John Williams softened the rate outlook. Net-flow records compiled from the funds' own disclosures show the spot products absorbed $175.62 million on Tuesday, reversing the $65.4 million withdrawn in the previous session. Fidelity's Bitcoin fund led with $103.06 million, BlackRock's IBIT took in $65.89 million, and Morgan Stanley's MSBT added $6.67 million; no other product registered a net move in either direction. The re-entry matters because October's ledger had weighed on sentiment all month.
The levels that matter frame the test precisely. Our composite scoring puts the nearest resistance at $84,071, where the Bollinger Band middle and the Ichimoku Tenkan converge, at 88 out of 100; clearing it would open the run toward the next band of offers. Below, support at $81,067.99 carries a 93/100 score, effectively the zone where the dip found buyers twice. Positioning is constructive without being crowded: perp funding runs at 0.0041% and aggregate open interest sits near $15.46 billion. The short-term MACD reading is still bearish, so momentum needs that resistance break to confirm what the flows suggest. A fuller Bitcoin technical analysis tracks these levels as they move.
The daily figure repairs the tape but not the month. October's cumulative net flow still sits $276.2 million on the negative side, against $654.2 million accumulated since the start of the year, so one strong session has only trimmed the shortfall. On the chart, analyst Killa, who counts more than 200,000 followers on X, points to heavy buying interest around $81,000 that steadied the price twice during the decline; in his view the correction has run its course and Bitcoin can revisit $87,000 within the month. The call carries history: Killa published his projection for this bull market's peak in May 2025, opened short positions from about $74,688 in mid-April, and turned long during the broad sell-off on June 5.
Strive's $500M Raise and the Fed
On the corporate side, Bitcoin treasury company Strive unveiled a new financing plan on Tuesday evening. It plans to sell 5 million shares of a new perpetual preferred class, SATS, at $100 each with a 15% fixed annual dividend, targeting $500 million. Proceeds can fund additional Bitcoin purchases, income-generating assets, or share buybacks. The raise extends an accumulation run that has accelerated sharply: last week the firm bought 3,311 BTC, taking its total to 32,773 BTC, worth roughly $2.7 billion at current prices, up from a reserve below 20,000 BTC three months ago. At this pace Strive is assembling one of the fastest-growing corporate Strategic Bitcoin Reserve positions in the market, which places it among the corporate whales now competing with the ETF complex for supply.
Williams's remarks supplied the macro leg. The New York Fed president said he sees no need for further rate increases in 2027, though one more hike this year could still be appropriate. The dollar weakened and Asian equities firmed; S&P 500 futures added 0.2%, leaving the index near last week's record. In Asia, chipmakers Samsung Electronics and SK Hynix ended a five-day slide that had also unsettled leveraged positions in crypto exchange-linked stocks, and the MSCI Asia Pacific index rose 0.7% after two losing closes. Across crypto, ZEC led with a gain of about 7% to near $1,270, SOL and DOGE each added 2.5%, and Ethereum climbed 2% to around $2,520, while the wider Bitcoin market held its recovered ground.
What would settle the open question is on the calendar. If Thursday's US inflation print comes in low enough to take this year's final rate hike off the agenda, the case for a retest of $87,000 strengthens; a hot number puts the $84,000 ceiling back in play first. Between now and then, daily closes above $83,000 would keep the buyers' case intact.

• Ledger ordered resellers in six Southeast Asian markets and Hong Kong to halt sales and pull devices.
• Bitquery traced roughly $102 million in losses across 324 wallets as of October 13.
• Hidden circuit boards read 24-word recovery keys and sent them over LTE modules with eSIMs.
Sales Halt Across Southeast Asia
Ledger has told distributors and resellers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to stop selling its hardware wallets immediately and to clear the devices from physical shelves and online storefronts until its investigation is complete. The order widens a stop-sale that previously applied only to the distributor CryptoBilis, and the company still has not pinned down at which point in the supply chain the tampering occurred. Ledger describes the regional suspension as preventive: so far it has found no sign of intrusion into its internal systems, software, firmware or officially operated direct sales channels.
What the company has confirmed is how the compromised units work. Unauthorized circuit boards were concealed inside the housing and beneath the display. When a buyer initializes a device for the first time and the screen shows the 24-word Ledger recovery key, a microcontroller in the implant reads the on-screen text and forwards it over an LTE module fitted with a pre-configured eSIM. With that key in hand, attackers can reconstruct the wallet on hardware they control, without touching the victim's device again or persuading anyone to sign a transaction. The implant does not defeat the Secure Element, Ledger's operating system or transaction signing, which is why tampered units can still pass the Genuine Check: that function proves the security chip is authentic but cannot detect circuitry added around it. Losses are climbing. On-chain analytics firm Bitquery reported that, as of October 13, roughly $102 million had been drained from 324 wallets across Tron, Bitcoin, Ethereum, Solana, BNB Chain and Polygon, up from earlier estimates of $86 million to $93 million. Tether has frozen about $10 million in USDT across 20 addresses, and around $84 million remains traceable on-chain. Attackers have pushed roughly 6,840 ETH into Tornado Cash, a crypto mixer, and routed other funds through Zcash and an atomic swap service such as THORChain, complicating tracing and recovery. Ledger has not verified the victim count or the final total; the $102 million stands as an independent on-chain estimate.
The trail began on October 9, when reports linked stolen funds to wallets created with devices bought through CryptoBilis. In the days that followed, users elsewhere, including in European markets, reported that units purchased through ordinary retail channels also appeared tampered with. On Tuesday, Ledger said in an update posted on X that the investigation is ongoing and is aimed at identifying who handled the devices and at which stage of the supply chain the modification took place. The suspension order covers resellers across the seven named markets and goes beyond the earlier demand that CryptoBilis stop sales and shipments. Ledger says it has no evidence that its infrastructure, internal systems, services or official direct channels were breached, and that confirmed incidents so far are confined to Southeast Asia; it has not established any link between devices bought in other regions and theft. Open questions remain: the company has not published full findings, has not confirmed how many devices are affected, and has not said whether manufacturing, distribution or retail is the source. Consumer complaints are adding pressure. On-chain researcher 0xQuit has suggested CryptoBilis may not be the only channel where tampered units surfaced, urging owners to inspect their devices, though Ledger has not confirmed that view and dismantling a sealed unit is not an official detection procedure. One user reported buying a Ledger Flex from a shop at Singapore Changi Airport in late June, keeping the box sealed, and still finding a complete antenna, battery, eSIM and LTE module inside. A Singapore-based lawyer has publicly pressed the company for clearer, faster consumer guidance than a standard support ticket, citing a device allegedly bought from a large local electronics retailer. No unified compensation plan has been announced.
Why a Region, Not a Batch
Our reading is that the shift from a single distributor to seven markets means Ledger still cannot locate the tampering point; a company that had isolated a bad batch would recall the batch, not a region. The Genuine Check blind spot is the deeper problem: cryptographic verification of the secure chip cannot see added circuitry, so physical inspection remains the only reliable consumer-side test. Holders of unopened units should not initialize them, and set-up owners should move assets to a clean device with a newly generated key rather than restoring the original 24 words; anyone asking for that key by phone or private message is attempting fraud, since Ledger says it never requests it that way. Readers setting up a replacement device can also consult our guide to staking Cardano (ADA) with a Ledger hardware wallet.

• Zcash (ZEC) rose about 4% on Tuesday and again on Wednesday after Monday's 8% drop.
• ZEC recovered from Tuesday's low of $1,123 and traded near $1,254, up 3% in 24 hours.
• Grayscale's ZCSH posted a $5.19M net outflow on October 13 after $1.66M the day before.
Second Straight 4% Advance
Zcash (ZEC) spent Monday under heavy selling pressure, shedding 8% in a single session before buyers re-entered the market. The token then gained about 4% on Tuesday and repeated that advance on Wednesday, recovering from Tuesday's low of $1,123 and leaving it up roughly 3% over the past 24 hours. When the latest report crossed the desk early on Wednesday, ZEC traded near $1,264; it has since eased to about $1,254, a drift of less than 1%. The rebound is genuine but conditional. According to Coinreaders, whose technical read draws on FXStreet's chart work, ZEC is testing resistance at the 50-period exponential moving average near $1,261 and the 200-period EMA near $1,269 on the 4-hour chart, and both averages still slope downward. While that band caps the price, the broader technical bias stays bearish even as short-term momentum improves. The relative strength index at 54 sits just above its neutral line of 50, and the MACD line has crossed slightly above its signal line, two readings that fit a short-term turn rather than a confirmed trend change. For the advance to extend, the EMA band has to give way first. Above it sits the 4-hour high formed on Monday at $1,320, the level the market needs to recover before the September 18 low of $1,422 comes into view as the next objective. Even after the drawdown, ZEC carries a market capitalization of about $21.34B with $2.13B changing hands over the past day, so liquidity for the recovery is not thin. Until the break comes, the two-day gain reads as a recovery inside a correction rather than the start of a new leg up.
ZCSH Outflows Continue
The stronger limit on the rebound comes from institutional supply. Flow data compiled by SoSoValue shows Grayscale's Zcash investment product, ZCSH, posted a net outflow of $5.19M on October 13, on top of a $1.66M net outflow the day before and $30.72M that left the vehicle during the prior week. The fund completed a 3-for-1 share split on September 30, and selling pressure has clustered around and after that restructuring, so each redemption feeds tokens back into a spot market that is still absorbing Tuesday's drop. Last week's $30.72M dwarfs the two daily outflows that followed, a sign the heaviest selling came in one concentrated burst rather than a steady drip. The direction is not new either: the earlier stretch of Grayscale-led Zcash (ZCSH) outflows ran the same way, and for anyone investing in crypto ETFs and funds, the episode shows how a trust-style product passes redemptions straight into spot supply. On the downside, last Thursday's low of $1,115 is the first major support. A break there hands the defense to the September 4 high of $1,050, with the round $1,000 mark as the psychological floor beneath both; below $1,000 the chart offers few mapped levels, which is why that round figure matters more than the technical ones under it. The two-day gain also has to be weighed against the larger drawdown: ZEC is still inside a 30% pullback from September's peak, after the token defended its 50-day average following a 35% slide from the $1,700 peak. Each session of 4% buying trims that deficit, but the fund flows describe a market where institutional sellers, not buyers, are still setting the marginal price.
Between $1,172 and $1,271
Our composite Zcash technical analysis scores each level from 0 to 100 and frames the move tightly: the strongest floor sits at $1,172.66, scored 96/100, where the 50-day EMA, the pivot point and Fibonacci retracement levels converge, while the nearest ceiling is $1,271.41 at 80/100, a shelf stacking directly on top of the $1,261 to $1,269 EMA band the 4-hour chart is testing. With spot near $1,254, ZEC is pressing that ceiling from below. Positioning looks calm rather than crowded, with a perpetual funding rate of 0.0042% and open interest near $793.66M. The composite still labels the trend an uptrend, but the short-term gauges push back: RSI reads 48.74, the MACD signal is bearish and the Supertrend indicator sits unconfirmed. The rebound interpretation holds only while the $1,172 floor does; a daily close beneath it would turn the two-day gain into a failed recovery.

• Bitwise's NEAR ETF NRR rolls staking yield into NAV instead of cash payouts
• SVRN targets 10% of NEAR supply and operates six white-label validator nodes
• NEAR Intents has processed over $34 billion in volume, about 98% human-driven
A Shared Bet on AI Infrastructure
Wall Street has spent years learning how to buy bitcoin and ether. Bitwise chief investment officer Matt Hougan and SVRN chief executive Sal Ternullo are now pitching something harder: exposure to the infrastructure that could one day settle transactions for AI agents. In interviews published on Wednesday, the two laid out separate routes into the same idea, and both run through NEAR Protocol. Bitwise's path is its NEAR ETF, ticker NRR, which folds staking rewards into the fund's net asset value instead of paying them out in cash; the wrapper gives traditional portfolios a route to the token without wallets or self-custody, while the staked tokens keep earning network rewards. SVRN's path pairs a stated target of accumulating 10% of the NEAR supply with an operating business inside the network itself. The NEAR price sits at $5.09 at the time of writing, down 4.8% over the past 24 hours. Both bets rest on a single argument: as software carries a growing share of economic activity, the systems that clear its transactions may become financial infrastructure in their own right. Hougan frames the trade as portfolio theory rather than a settled outcome. Investors, he argues, will increasingly separate crypto networks by the value each one actually delivers, and returns will diverge by project depending on execution and the market each targets. His criteria also weigh durability and a community that shows up. “If nobody cares, the ETF dies,” he said, adding that NEAR's appeal rests on its working cross-chain trading capability and its ambition to support AI-driven commerce. That combination places NEAR among the altcoins courting institutional wrappers rather than waiting for them. Neither executive treats the thesis as proven; both describe it as an argument investors will test through results. For readers still learning how these vehicles work, COINOTAG keeps a primer on investing in crypto ETFs and funds.
The earliest NRR demand, in Hougan's telling, has come from beyond the advisors who already tracked or held the underlying token. Early internal reports point to financial advisors allocating sooner than he would normally expect, though he is careful with the evidence: an ETF's trading record cannot show an issuer who its buyers are. He credits the pace to the intersection itself. “The crypto and AI crossover is simply too compelling for anyone to ignore,” he said, adding that investors had watched the space for two years without a vehicle to express the view. Our own tape points the same way in smaller increments: NRR logged a $3.98M net inflow for Monday, October 12, and NEAR trading volume nearly doubled to $3.54 billion in a prior session. Staking mechanics shape the fund's daily life as well. Rewards accrue through the net asset value, so holders receive the yield as price rather than cash. Redemption is the operational catch while tokens sit staked: Hougan notes NEAR's unstaking window is relatively short, with extended settlement arrangements for market makers and extra liquidity support reserved for extreme cases. SVRN's ambition runs well past its reserves. Ternullo describes a business built to take a seat inside the network, not only to hold the asset: the company currently operates six white-label validator nodes, runs infrastructure supporting NEAR Intents and confidential transactions, and has acquired Fastnear, which he calls a cash-flowing infrastructure business. Private AI inference, which keeps prompts and outputs protected while a model runs, is another commercial focus. The 10% target may eventually compete with other uses of capital, he concedes, from funding more infrastructure to backing applications and commercializing them. The scale investors must weigh is still mostly prospective: NEAR Intents has processed more than $34 billion in volume, and roughly 98% of those interactions remain human-driven, leaving AI agent commerce largely a future opportunity. Ternullo's answer to where value lands is categorical: only one asset exists in the ecosystem, and everything created there accrues to it. The protocol's tokenomics, spanning an AI revenue model and a buyback mechanism, still need validating, and that validation is the test now in front of holders. Our earlier coverage put a $155.85 base case on NEAR for 2030, built on AI agent demand.
Funding Slightly Negative Near $5.09
Our live monitoring shows NEAR at $5.09, down 4.8% on the day and essentially flat since the newest coverage crossed the wire at 04:30 UTC. COINOTAG's composite scoring, which rates each technical level from 0 to 100, marks resistance at $5.1928 with a score of 86/100 just above spot, and the nearest support at $4.8723, scored 85/100. Derivatives positioning leans mildly cautious: the perpetual funding rate reads -0.0065% against roughly $548 million in open interest. A close back through the $5.19 pivot would repair the short-term picture; losing $4.87 would hand the next test to deeper support below. The fuller set of NEAR technical analysis levels updates as sessions close.

• Two-week cumulative outflows from ZCSH reached $124.28 million.
• ZEC closed a third consecutive session higher on Tuesday, moving back above $1,263.
• ZEC trades near $1,268, up 4.1% over the past 24 hours.
Grayscale-Led Outflows Ease
Institutional money kept leaving Zcash products through last week even as the token itself staged a rebound. SoSoValue flow data shows the Grayscale Zcash Trust (ZCSH), the asset manager's listed wrapper for the privacy coin, recorded $30.72 million in net outflows over the week. That is a marked step down from the $93.56 million that left the vehicle the week before, but the cumulative picture is still heavy: the trust has shed $124.28 million across the past two weeks, making it the dominant disclosed channel of outflow from exposure to the privacy-focused blockchain. Trusts of this kind are often the simplest route for traditional funds to hold the asset, which is why persistent redemptions are read as a proxy for institutional sentiment. Slower is not reversed, and nothing in the flow record yet points to that demand returning in size.
The spot market tells a different story. Zcash (ZEC), an asset whose privacy guarantees rest on zero-knowledge proofs first made workable through a one-time trusted setup known in the project's history as the Zcash ceremony, closed a third consecutive session higher on Tuesday, moving back above $1,263 after gaining roughly 4% the day before. At the time of writing it changes hands near $1,268, up 4.1% over the past 24 hours, so the recovery has carried through the current session rather than fading overnight. The divergence is the core of the story. Outflows from the Grayscale vehicle indicate weak institutional appetite, while short-term buyers on crypto exchange venues have absorbed the supply and lifted the price. The token's rally therefore runs against the grain of its institutional channel rather than with it, and observers read the split as a contest between slow institutional distribution and a faster, momentum-driven bid.
The $1,296 Gate to $1,422
The short-term chart backs the bid, at least for now. On the 4-hour time frame, ZEC is pressing against the 50-period exponential moving average near $1,279 and the 200-period EMA near $1,274, two lines that capped the token during the drawdown. The relative strength index reads 51, just above its neutral line at 50, and the MACD has turned upward, both of which support the case that short-term buyers have regained control. One caveat stands: the 50-period moving average still threatens a downward cross beneath the 200-period line, so the bearish structure built up during the decline is not fully resolved. Momentum readings of this kind reset quickly in a thinly traded market, and this rebound is only three sessions old.
The market's working map places the next decisions at two prices. A close above $1,296 would open the path toward $1,422, the resistance traders flag as the next upside objective; failure instead points to $1,050 as the downside risk. The upside trigger sits roughly 2% above the current price, the downside target about 17% below it. Context matters: ZEC has spent recent weeks repairing a deep drawdown, having defended its 50-day average after a 35% slide from $1,700, and at least one published forecast still expects rejection near $1,500 on any approach to that zone. The deciding variable, on both readings, is flow. If redemptions from ZCSH accelerate again, renewed supply could overwhelm the short-term bid; if the trust's outflows fade to a trickle, the technical repair already visible on the 4-hour chart has room to extend through $1,296.
Our own composite scoring frames the immediate fight narrowly. Resistance at $1,271.41, scored 80 out of 100, sits within a few dollars of the live spot price, so ZEC has to clear that band before the $1,296 trigger comes into play. Below, support at $1,172.65 carries the strongest rating on our board, 96/100, and would be the level to watch if the week's momentum stalls. The daily indicators are cooler than the 4-hour chart suggests: RSI reads 48.74 and the MACD signal is bearish, even though the broader trend still registers as an uptrend. Derivatives positioning stays light, with funding at 0.0043% and open interest near $803.4 million, leaving little crowded leverage to unwind on either side. Every dollar of disclosed outflow sits with Grayscale's ZCSH; the distribution beyond it, if any exists, is unreported in the data. The full picture is in our Zcash technical analysis.

• US spot Bitcoin ETFs drew $109.8 million net inflows on October 13.
• Fidelity's FBTC absorbed $103.1 million, about 94% of the day's total.
• A second aggregator listed FBTC at $103.06 million, a gap of about $40,000.
FBTC Absorbs $103.1 Million of Tuesday's Flow
A net $109.8 million flowed into US spot Bitcoin exchange-traded funds (ETFs) on Tuesday, October 13, and a single fund took almost all of it. Fidelity's Wise Origin Bitcoin Fund (FBTC) absorbed $103.1 million of that net inflow, about 94% of the day's total, leaving the rest of the cohort to split roughly $6.7 million. The tally comes from Farside Investors, which compiles each issuer's daily creation and redemption disclosures into a per-fund table after every US trading session, and the Tuesday print published early on Wednesday, October 14. Issuers file their share counts after the US close, so a table published hours later reflects the completed session, not a running total. Tuesday's session in the same cohort ran the other way, closing with $65.4 million in net outflows. October 1 had drawn $102.7 million in net creations, and earlier episodes had recorded the Fidelity fund itself on the outflow side in size, so Tuesday's direction stood against the recent pattern. Daily tracking of Bitcoin ETF flows rests on those issuer filings, which makes the record a primary one rather than an estimate. The Bitcoin price sat near $83,802 at the time of writing, up 0.5% over 24 hours and effectively unchanged from the level it held as the flow data landed. A net figure counts shares created minus shares redeemed across the listed funds, not exchange turnover, and a concentration this steep routes nearly all of the day's demand through one issuer's product. The day's remaining products ended net positive as a group, but only at the margin, which is why the aggregate reads as a Fidelity session first and a market session second.
Our live monitoring shows Bitcoin at $83,802, flat against the 03:49 UTC reading, so the FBTC-weighted session left the market level unchanged. The nearest resistance on the composite level map our Bitcoin technical analysis tracks sits at $84,071, scored 88 out of 100, with the strongest support at $81,616, at 93/100. Funding held at 0.0028% and open interest near $15.57 billion, so positioning did not chase the print. A daily close above $84,071 would be the first sign the creations are feeding into price. Demand the ETF tally does not count sits elsewhere: treasuries, where Metaplanet's 44,000 BTC now ranks second only to Strategy; model allocations, where 10x Research's quant strategy leads buy-and-hold by 17 points; and on-chain rotation, where a recent whale rotation swapped 1,074.3 Bitcoin for 35,346 Ethereum over three days.
Aggregator Gaps and FBTC's 0.25% Fee
The per-fund arithmetic behind Tuesday's aggregate carries a small spread between data providers. Farside's table lists FBTC at $103.10 million for the session; a second aggregator's figure for the same fund came in at $103.06 million, a gap of about $40,000. Totals and fund-level amounts can differ between providers the same way, so the 94% share is computed on Farside's numbers. The spread matters because single-day prints get quoted widely, and a small gap in the base can move a share calculation at the margin. The swing between sessions frames the print. Tuesday closed at $65.4 million in net outflows, October 1 recorded $102.7 million of net creations, and earlier episodes had put the Fidelity fund itself among the larger outflow cases in the daily tables. Tuesday ran against both the sign of the preceding session and the fund's own recent outflow history. Mechanically, a creation adds fund shares when a buyer deposits cash or Bitcoin with the issuer, and a redemption removes them; the daily tables report the net. That single number cannot separate the investor types behind it, whether advisors, institutions or whales, and it cannot state a motive. It also cannot settle longer questions: one session of creations says little about the long-horizon conviction that terms like HODL describe, or about where the price goes next. Within the $109.8 million total, the residual for every other product combined came to about $6.7 million, so the cohort outside FBTC ended the day net positive only at the margin. FBTC itself is structured as a fund that tracks Bitcoin's price rather than a direct coin holding, and it trades inside a standard brokerage account, which makes the exposure mechanically different from self-custody. Fidelity's own product disclosure warns that price swings for Bitcoin and for products tracking it can be severe, and the issuer lists the fund's annual expense ratio at 0.25%.

• Jamie Dimon said on the October 13 earnings call JPMorgan will not allow external AI agents into customer accounts.
• Approved external services keep read-only balance access, while transfers and bill payments stay blocked.
• Meta's Muse agent launched in September, topped app download charts and pressured US bank stocks.
JPMorgan Cuts Off External AI Agents
JPMorgan (JPM) will not let external AI agents operate its customers’ bank accounts, chief executive Jamie Dimon said during the bank’s third-quarter earnings call on Tuesday, October 13. The stance rules out services such as Meta’s Muse agent, which some users had begun pointing at their Chase accounts. “We are not going to let just any external agent into our systems,” Dimon told analysts, “because it is too dangerous for customers and for JPMorgan.” He added that uncontrolled agents, potentially running into the thousands, are the scenario the bank refuses to underwrite.
The mechanics of the block are narrow but firm. Customers who have approved outside services can still see account balances: a read-only view that runs through secure open-banking connections rather than handing over login credentials to a third party. What those services cannot do is move money. Transfers and bill payments initiated by an external agent are blocked, and a bank spokesperson confirmed there is no timeline for opening direct account operation to outside agents. The stated concern is security and control: an agent acting for a customer can cancel a subscription, buy a product or transfer funds, and a manipulated agent could send money somewhere the customer never intended. Dimon also put the liability question to users directly, saying anyone who hands authority to an outside agent should understand the risks and that doing so amounts to a shift of responsibility.
Deposit Flight Fears Sit Behind the Decision
The block lands against a backdrop that made it look defensive as much as protective. When Meta launched its Muse agent in September, the app rose to the top of the download charts and US bank stocks sold off on the worry that consumers would let an agent sweep balances out of low-yield accounts into banks paying higher rates. OpenAI followed within weeks with its own agent, Dots. Apollo’s chief economist Torsten Slok was among the analysts who flagged the threat such tools pose to banks’ low-cost deposit bases, and market commentary since has noted that if agents cannot freely operate customer accounts, that deposit-flight risk is largely contained. JPMorgan has its own history with the data intermediaries behind such services: it previously charged fees to aggregators such as Plaid for account access, an earlier round of the same tug-of-war between bank security and technology-sector access. Meanwhile the bank is building in-house. Chief financial officer Jeremy Barnum said JPMorgan began piloting Smart Cash in recent weeks, an internal AI tool that predicts a customer’s cash flow and moves funds to capture higher returns. Dimon said the bank already uses agents internally and plans customer-facing applications, framing its position as neither for nor against the technology but conditional on it serving customers safely. Read that way, the strategy is not a rejection of AI-driven financial automation; it is a claim that the bank, not an outside agent, should hold the controls.
The market’s read on the decision is measured rather than alarmed. COINOTAG data shows JPMorgan shares at $332.20, down 1.39% over the past 24 hours inside a session range of $321.64 to $344.98, with the daily RSI reading 35.9 and the trend classified as sideways. Our composite scoring places the nearest support at $331.21, scored 90 out of 100, with the strongest resistance overhead at $338.06, scored 100/100. The stock is consolidating between those bands after the announcement; the picture changes if the $331.21 support, the nearest level to the current price, gives way.

• Short positions accounted for $116.35 million, 59.8% of all liquidations.
• 59,397 traders were liquidated across digital asset derivatives markets.
• Bitcoin liquidations reached $50.99 million, 85.5% from short positions.
Shorts Take 59.8% of a $194.7 Million Wipeout
The short side carried the cost of the last day's rebound. Derivatives tracking data compiled across major venues shows that roughly $194.7 million in futures positions were forcibly closed over the past 24 hours, and $116.35 million of that total, 59.8%, sat on short positions, the bets placed on further downside. Long liquidations accounted for the remaining $78.35 million, or 40.2% of the market's forced closures. In all, 59,397 traders were liquidated across digital asset derivatives during the window, a broad deleveraging rather than a concentrated failure at one venue or one contract.
Bitcoin produced the largest single-asset toll. The asset had climbed 0.71% to $83,322.9 at the time of the read, and about $50.99 million of its positions were wiped out, of which $43.59 million, or 85.5%, were shorts. Ethereum followed the same shape: a 1.13% rise to $2,506.05 came alongside roughly $42.58 million in closures, 74.3% of them short. The two largest assets together accounted for about $93.57 million, or 48.1% of everything closed market-wide, so nearly half of the day's damage was carried by just two books whose prices were moving up while their short books were being cleared out.
The same tilt ran through the smaller books. Solana gained 1.34% to $107.49 while $8.24 million of its positions were closed, with shorts contributing $5.46 million against $2.84 million from longs. Zcash, up 6.68% to $1,272.09, saw $7.26 million in closures and shorts made up 73.6% of them, the steepest downside losses among the day's gainers. NEAR Protocol moved the other way, slipping 2.12% to $5.123, and its liquidations flipped: long positions accounted for $2.69 million, more than double the $1.32 million taken off shorts, the only major book in the read where the losing side sat on the upside.
Binance Carried 48.3% of Closed Positions
Venue-level breakdown rounds out the picture. Binance captured 48.3% of all closed positions, the largest share of any exchange. The single biggest order came from Aster, a DeFi derivatives venue, where a $5.12 million Ethereum short was force-closed, the largest individual liquidation of the session. Most of these closures arise on perpetual futures, the leveraged contracts with no expiry date that dominate derivatives volume: when price moves against a leveraged position past its maintenance margin, the venue closes it at market, which is why a fast upward move converts crowded short entries into forced buys and can extend the move itself.
The shorter windows show the tilt holding. Over the most recent four hours, $15.54 million in positions were closed and shorts made up $9.55 million of that. In the latest hour, $4.6 million was closed in total, with $2.84 million from shorts against $1.75 million from longs. COINOTAG's live monitoring put Bitcoin near $83,700 and Ethereum near $2,512 at the time of writing, essentially flat against the read earlier in the session and up roughly 1% on the day, so the conditions that triggered the short-side closures were still in place as the data settled.
Crowded Downside Leverage Unwound
Our reading of the flow: this was a positioning event, not a verdict on direction. A 59.8% short share in a rising session means downside leverage was crowded and got caught by the rebound, and the lopsided split simply reports where the leverage sat. The four-hour and one-hour windows remaining short-heavy, while only NEAR showed long-side pain, fits a market where the aggregate bet had skewed bearish into the move. What the imbalance leaves standing is a lighter short book: with $116.35 million of downside positions cleared and the long side largely intact outside NEAR, the leverage that would have amplified any pullback has already been removed, leaving the market less leveraged on the bearish side than it was 24 hours ago.