According to @CrypNuevo, current market data shows a neutral delta for liquidation levels, indicating no immediate signs of a short squeeze or a long squeeze for Bitcoin (BTC). However, a significant data point reveals the largest individual liquidation level is concentrated at $115,300. @CrypNuevo suggests this adds considerable weight to a downside liquidation cluster, pointing to this price level as a potential target for a market pullback.

According to Ai 姨, Ethena has 21% of its USDe engaged in a Delta neutral hedging strategy on Bybit, with the ETH portion valued at $227 million. Following Bybit's confirmation of a breach, ENA has fallen by 11.5%, erasing today's gains.