According to @lookonchain, a highly-leveraged trader on the Hyperliquid platform known as Qwatio has incurred losses of nearly $3.7 million this past week due to aggressive short positions on Bitcoin (BTC) and Ether (ETH). On-chain data reveals the trader was liquidated five times over the weekend by opening short positions when BTC and ETH were at sessional lows, a strategic shift from their previous bullish long positions. This high-risk trading activity occurs amidst a broader market trend where, according to CoinGlass data, $50 million in ETH and $31 million in BTC short positions were liquidated across all exchanges in the last 24 hours.

According to @doctortraderr, recent market analysis suggests Ether's (ETH) rally is on unstable ground, primarily fueled by leveraged futures speculation rather than fundamental demand, as noted by Matrixport. This leverage makes ETH, currently trading around $2,581, vulnerable to significant price declines, evidenced by a recent 8% weekend sell-off. Options market data reinforces this cautious sentiment, with Amberdata showing that the cost to protect against downside risk for ETH through June and July has increased significantly. Similarly, savvy Bitcoin (BTC) traders are preparing for potential drawdowns. QCP Capital reports that risk reversals for both BTC and ETH indicate a strong preference for downside protection, suggesting long-term holders are actively hedging their positions. While BTC trades sideways around $108,918 after breaking below its 50-day simple moving average, a bearish signal, Coinbase Institutional attributes the price stagnation to profit-taking and miner selling that counteracts spot ETF inflows. Despite the widespread hedging, some analysts like Cas Abbé remain bullish, citing strong on-balance volume as an indicator that BTC could rally to the $130,000-$135,000 range by the end of Q3.

According to @moonshot, major cryptocurrencies including Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE) are showing early signs of profit-taking, with altcoins like XRP, BNB, SOL, and ADA posting losses as they near local resistance levels. Despite this, the broader market outlook remains constructive. Augustine Fan of SignalPlus noted that mainstream sentiment on crypto has improved, driven by events like Circle's successful IPO and companies pursuing BTC treasury strategies. Supporting this view, Jeffrey Ding of HashKey Group stated that progress in U.S.-China trade talks and softer inflation data are creating a more favorable environment for risk assets. Meanwhile, the meme coin PEPE has fallen over 4.7% as investor hype fades and capital rotates back to Bitcoin, pushing BTC dominance above 65%. Technical analysis shows PEPE facing resistance near $0.00001013, with a failure to sustain rallies indicating a broader shift away from high-beta assets.

According to @rovercrc, a hacker who stole $23 million from the Bittrue exchange in 2023 has reportedly made a $9.37 million profit by strategically trading Ether (ETH) and is now laundering $30 million through the Tornado Cash mixing service. Citing Debank data, EmberCN reported that the hacker sold the stolen tokens in 2023, repurchased them at a lower price, and held through ETH's recent rally. On-chain data from Etherscan also reveals deposits to the decentralized derivatives exchange HyperLiquid. Currently, ETH is trading around $2,520. In a separate development, the Trump-affiliated World Liberty Foundation announced a significant policy change, stating its WLFI token will soon become transferable and tradable, a reversal of its initial non-tradable design. This move could open up WLFI to secondary market speculation.

According to @MilkRoadDaily, a report by analytics firm Artemis and Vaults.fyi reveals that the total value locked (TVL) in top DeFi lending protocols has surged by 60% over the past year to nearly $60 billion. This growth is reportedly driven by increasing institutional participation and the integration of DeFi as a backend financial layer for user-facing apps, a trend known as the 'DeFi mullet'. Key examples cited include Coinbase using Morpho's infrastructure for Bitcoin (BTC) backed loans and the rise of tokenized real-world assets (RWAs). Despite this underlying strength and improving macroeconomic conditions, the broader crypto market is showing signs of fatigue. Major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), and Solana (SOL) are experiencing short-term profit-taking, with traders cautiously locking in gains as tokens approach local resistance levels. Analysts like Jeffrey Ding from HashKey Group remain optimistic, suggesting digital assets will continue to grow as institutions further integrate into the industry.

According to @KookCapitalLLC, despite a constructive macroeconomic backdrop, the broader crypto market is showing signs of fatigue and potential profit-taking. Major cryptocurrencies including Dogecoin (DOGE), Tron (TRX), XRP (XRP), BNB (BNB), Solana (SOL), and Cardano (ADA) have posted losses between 3% and 5.5%. Ether (ETH), which recently outperformed, has also cooled after briefly touching $2,800, prompting cautious traders to lock in gains near resistance levels. However, analysts remain positive on the macro outlook. Augustine Fan of SignalPlus noted that mainstream sentiment has improved following Circle's successful IPO, as cited in the report. Jeffrey Ding, Chief Analyst at HashKey Group, pointed to progress in U.S.-China trade talks and softer inflation data as favorable for risk assets. Separately, a frenzy among South Korean retail investors has driven Circle (CRCL) stock up over 500% since its debut, with nearly $450 million invested this month, a trend linked to the country's upcoming legalization of KRW-backed stablecoins.

According to @MilkRoadDaily, escalating geopolitical tensions, fueled by President Trump's social media statements regarding Iran, have triggered a significant downturn in the cryptocurrency market. Bitcoin (BTC) experienced a 3.8% drop, falling below the $104,000 level. The broader market followed suit, with an index tracking the top 20 cryptocurrencies declining by 6.1%. Major altcoins like Ether (ETH) and Solana (SOL) both slumped by 7%, while Sui (SUI) dipped nearly 10%. The sell-off extended to crypto-related equities, with Coinbase (COIN) and MicroStrategy (MSTR) down 2-3%, and Bitcoin mining firms such as Riot Platforms (RIOT) and Hut 8 (HUT) losing 6-7%. Javier Rodriguez-Alarcón, CIO at XBTO, stated that the conflict introduced a "significant geopolitical risk premium," causing a flight from risk assets. Analyst Matteo Greco from Finequia added that potential impacts on Iran's oil production could lead to price spikes and renewed inflation. Prediction markets on Polymarket now indicate a 65% probability of U.S. military action against Iran before July.