Notable Statistics:

• Coinglass data shows 86,279 traders were liquidated in the past 24 hours for $190.74 million.       
• In the past 24 hours, top gainers include Hyperliquid, Pump. fun and Zcash.

Notable Developments:

Trader Notes: Trader Crypto Seth explained that crypto saw another sharp flush even as U.S. equities stayed strong. The S&P 500 and Nasdaq were green, highlighting a clear divergence from crypto markets.

Around 87,700 traders were liquidated, totalling roughly $200 million in forced liquidations, with Bitcoin sliding back to around $87,700.

Crypto trader KillaXBT sees Bitcoin has broken back below $90,000 after repeatedly failing to hold above it.

Since there was no sustained acceptance over this level, the breakdown reinforces a bearish market structure. As long as BTC stays under $90,000, downside risk remains dominant.

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