According to @EmberCN, a significant Ethereum (ETH) holder has transferred 216,000 ETH (approximately $411 million) to Binance, indicating a potential move to unwind leverage. This trader had originally purchased 651,500 ETH at $3,180 and has since sold two-thirds of their holdings, amounting to 404,600 ETH at an average price of $2,071. On-chain data shows the remaining holdings include 247,000 ETH (valued at $476 million) and $321 million in stablecoins.

According to @ki_young_ju, BTC-USDT perpetual leverage is cooling as spot inflows from MicroStrategy (MSTR) and Bitcoin ETFs that previously prevented long-leverage flushes fade, bringing estimated leverage back near pre-ETF approval levels; source: https://twitter.com/ki_young_ju/status/2019526494805188881. In a separate post, he also warns the BTC-USDT perp market is overleveraged, roughly 2.7x above early-year levels and at an all-time high, urging traders to stay cautious; source: https://x.com/ki_young_ju/status/1856658433446973890.

According to @KobeissiLetter, crypto market losses have surpassed $300 billion and are on track for the biggest daily drop since the October 10 liquidation, source: @KobeissiLetter. The post adds that about $2 billion in levered positions were liquidated over 24 hours and Bitcoin (BTC) is near $62K, source: @KobeissiLetter.

According to @BullTheoryio, Bitcoin BTC fell below 70,000, wiping out nearly 120 billion in value over the past 24 hours, with about 900 million in long positions liquidated, and BTC now trades near its 2021 all time high. According to the same source, the scale of liquidations highlights elevated volatility conditions, prompting tighter risk controls for leveraged traders.

According to Binance Research, the S&P 500 has reached a record high while the U.S. stock market margin debt to M2 ratio is at 5.4 percent, a level near the 2000 and 2008 crises. According to Binance Research, this leverage backdrop signals a potential blow off risk, and a pullback could trigger a broader cross asset decline.

According to EmberCN, Trend Research cut exposure by selling 188,500 ETH at an average price of $2,263 over roughly four days and repaid $385 million USDT to reduce leverage; its ETH borrowing positions now show liquidation thresholds in the $1,576–$1,682 band, clustered near $1,640, and it still holds about 463,000 ETH, source: EmberCN. For trading, the reported liquidation cluster near $1,640 is a key risk zone to monitor for potential forced unwinds tied to these positions, source: EmberCN. Traders can track on chain movements of the reported addresses and watch price behavior as ETH approaches the $1,576–$1,682 range referenced by the source, source: EmberCN.

According to @EmberCN, a whale’s ETH long on Hyperliquid was liquidated with an estimated 230M USD loss. Per @EmberCN, the same address is also stopping out a leveraged spot position, selling 50,000 ETH (about 112.8M USD) to reduce leverage. Per @EmberCN, the address opened a 148,000 ETH leveraged long at 2,883 USD roughly a week earlier, after which ETH fell toward 2.2K USD, leading to the liquidation and de-leveraging.

According to Lookonchain, Machi Big Brother was liquidated another 10 times, with the 250K USDC he deposited one day earlier now down to 57.7K USDC (source: Lookonchain). According to Lookonchain, the pattern is deposit funds, double down on longs, get liquidated, repeat, highlighting persistent overleverage risk (source: Lookonchain). According to Lookonchain, this sequence underscores how averaging into leveraged longs can rapidly erode capital when positions are repeatedly liquidated (source: Lookonchain).

According to @EmberCN, Trend Research cut exposure by selling 153.5K ETH at an average $2,294 and repaid $266M USDT to deleverage. According to @EmberCN, their ETH borrowing positions show liquidation levels between $1,685 and $1,855, clustering near $1,800, and they still hold 498K ETH with a $3,180 cost basis. For traders, the $1,800 zone cited by @EmberCN as a liquidation cluster is a key level to monitor, while the deleveraging reported by @EmberCN lowers stated leverage but the large remaining holdings keep exposure significant if price approaches that band.

According to @lookonchain, trader Machi (@machibigbrother) was partially liquidated again, bringing his total liquidations to 252, reinforcing his King of Liquidations reputation (source: @lookonchain on X). According to @lookonchain, after a near wipeout he reloaded about 250K USDC and resumed max leverage long positions in ETH and HYPE (source: @lookonchain on X). According to @lookonchain, these max leverage longs concentrate risk and heighten sensitivity to volatility and potential liquidation cascades in ETH and HYPE exposure (source: @lookonchain on X). According to @lookonchain, the trading activity can be tracked via legacy.hyperdash.com/trader/0x020cA66C30beC2c4Fe3861a94E4DB4A498A35872 for ongoing position and liquidation signals (source: @lookonchain on X).

According to @OnchainLens, Machi (@machibigbrother) was partially liquidated again on leveraged long positions in ETH at 25x and HYPE at 10x. According to @OnchainLens, the positions remain open and are showing an unrealized loss of over $26.23M. According to @OnchainLens, the wallet and position activity are referenced via hyperbot.network.

According to @OnchainLens, as HYPE trades above $36, @loraclexyz increased his HYPE long to 1,478,841 HYPE valued around $53M, with an unrealized profit exceeding $17M. According to @OnchainLens, he also holds a small 3x short in LIT, bringing total profit across positions to above $27.5M. According to @OnchainLens, these figures come from on chain wallet tracking for the cited address.

According to Onchain Lens, a newly created wallet deposited 3.18 million USDC into HyperLiquid and opened a 20x leveraged long position on ETH (source: Onchain Lens). Onchain Lens also noted the whale is likely to increase the position or open a new one (source: Onchain Lens). Based on the on chain flows flagged by Onchain Lens, traders are monitoring ETH perpetuals on HyperLiquid for shifts in funding rates, open interest, and nearby liquidation clusters that could drive short term volatility (source: Onchain Lens). Onchain Lens’ disclosure highlights concentrated leverage that can amplify price moves and raise liquidation risk if price reverses (source: Onchain Lens).

According to @lookonchain, two Ethereum wallets dormant for about five years deposited 44,490 ETH into Aave and borrowed 104M USDT to buy 45,319 ETH at an average price near 2,295, indicating a leveraged looped borrowing accumulation strategy, source: @lookonchain. The specific deposit, borrow, and swap transactions are visible for the reported addresses via Arkham Intelligence, confirming the sequence of Aave collateralization followed by ETH purchases, source: Arkham Intelligence via @lookonchain. This setup increases net long ETH exposure using collateralized loans and subjects positions to liquidation if the health factor falls as ETH price declines, consistent with Aave risk and liquidation mechanics, source: Aave documentation. Increased USDT borrowing raises Aave stablecoin utilization, which mechanically lifts variable borrow rates and funding costs for leveraged looped positions, source: Aave interest rate model documentation.

According to @EmberCN, positioning at the current level is split: some institutions such as Trend Research are stop-loss deleveraging, while a dormant whale or institution reactivated after 5 years and opened a coin margined long on ETH by posting 44,500 ETH in collateral (about 102 million dollars) and borrowing 70 million. According to @EmberCN, this highlights conflicting leverage flows at the same price zone, with whales adding exposure while certain institutions reduce risk.

According to @ai_9684xtpa, Trend Research deposited a cumulative 40,000 ETH to exchanges and transferred approximately USD 94.53 million in ETH to Binance at a reported deposit price of 2,363.36, with the position carrying an unrealized loss of about USD 29.64 million if sold at that level; on-chain holdings remain 618,252.76 ETH with an estimated average cost near USD 3,104.36, source: @ai_9684xtpa on X. Wallet evidence is tied to ARKM Intel addresses 0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c and 0x85e05C10dB73499fbDeCAb0dfbB794a446feEeC8, supporting the transfer and balance data, source: ARKM Intel via @ai_9684xtpa on X. The transfers were described as a move to reduce liquidation risk by shedding leverage, with 10,000 ETH deposited and 6,411 ETH subsequently withdrawn within minutes, source: @ai_9684xtpa on X.

According to @BullTheoryio, after the US futures open, Bitcoin BTC fell about $1,550 in 12 minutes and then rebounded roughly $1,910 within 26 minutes. Source: @BullTheoryio. Nearly $100 million in long positions were liquidated over the last hour, highlighting acute intraday volatility and elevated risk for leveraged traders. Source: @BullTheoryio.

According to @milesdeutscher, more than $2.58B in crypto positions were liquidated in the last 24 hours. According to @milesdeutscher, this total exceeds the estimated liquidations during the FTX collapse at $1.75B and the Luna/UST collapse at $1.5B. According to @milesdeutscher, a 10/10 event saw $19B+ in liquidations and the market has been "broken" since. According to @milesdeutscher, these comparisons are provided to contextualize the severity of the move for traders.

According to @OnchainLens, the Bitcoin OG (10/11) was completely liquidated on its long positions in BTC, ETH, and SOL, realizing about $221.07M in losses and leaving just $54.58 in the wallet, with address details at hyperbot.network/trader/0xb317D2BC2D3d2Df5Fa441B5bAE0AB9d8b07283ae. According to @OnchainLens, the OG has lost approximately $128.87M overall.

According to @OnchainLens, trader Machi (@machibigbrother) was fully liquidated again on his $ETH and $HYPE long positions, pushing cumulative losses above $26M, source: Onchain Lens. According to @OnchainLens, he has already opened a new 25x $ETH long, indicating extremely high leverage exposure and ongoing liquidation risk, source: Onchain Lens. Onchain Lens cites hyperbot.network trade data, and this re-leveraging pattern can heighten volatility in ETH perpetuals, so traders should manage risk and monitor open interest, funding, and liquidation clusters, source: Onchain Lens and hyperbot.network.