According to @KobeissiLetter, US stock index futures opened higher while the crypto market lost about $100 billion since Friday, indicating equities are unfazed by the weekend crypto drawdown (source: @KobeissiLetter). @KobeissiLetter adds that gold opened above $4,100 per ounce and bond yields are rising, highlighting a cross-asset backdrop where crypto weakness appears isolated (source: @KobeissiLetter). The -25% crypto downturn is characterized as leverage- and liquidation-driven, and a tradable bottom is more likely once market structure is re-established (source: @KobeissiLetter).

According to @ai_9684xtpa, WLFI printed as high as 0.3903 USD on Hyperliquid pre-market while Binance showed 0.2673 USD, implying roughly a 46% cross-venue spread calculated from the cited prices, source: @ai_9684xtpa. The author cautions that adding more margin is ineffective in this tape and that counterparties have stronger capital, highlighting elevated liquidation risk for leveraged traders, source: @ai_9684xtpa. For short-term trading, the combination of sharp pre-market wicks and venue divergence indicates high slippage and stop-out probability, so avoiding chase entries on Hyperliquid is advised, source: @ai_9684xtpa.