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According to ChainCatcher, citing data from Coinglass, if Ethereum (ETH) surpasses $1,653, the cumulative short liquidation volume across major CEX platforms will reach $485 million. Conversely, if ETH falls below $1,497, the cumulative long liquidation volume across major CEX platforms will reach $194 million.

In this issuance, the underwriters have fully exercised the over-allotment option.

The recent wave of Bitcoin sell-offs has revealed a trade-off: while Wall Street's involvement has brought larger capital inflows and market legitimacy, the retail buyers who once helped absorb sharp declines have largely disappeared. As institutional demand begins to lose momentum, the pool of new retail investors’ funds has all but dried up, with investors instead rotating capital into artificial intelligence (AI)-related investments. The current market is no longer driven by retail enthusiasm, but is now more influenced by portfolio allocation strategies. Bitcoin's price movements are now profoundly impacted by institutional capital flows, macroeconomic expectations, and competition with AI for investor capital.Related article: Bitcoin falls by around 5%, trading at $59,023.10, hitting a new low since October 2024. The retreat of retail investors exposes new vulnerabilities in the market.