Derivatives Data

Solana's price approached $90 on Monday, holding onto last Friday's 11% rebound, but it has been consolidating for the third consecutive day. Derivative product data shows retail interest continues to decline, with SOL futures open interest decreasing by 2% to $5.32 billion within 24 hours, and financing rates remaining negative. The US spot Solana ETF experienced an outflow of $11.86 million, and technically, the RSI dropped to 29, indicating an oversold condition.

Bitcoin price accelerates downward to $60,000, with nearly $2.7 billion in liquidations across the network, marking the worst single-day decline since 2022. Although capital outflows are only 6.6%, analysts point out that the 200-day moving average is a key support level. Market liquidity is weak, and there are no signs of a bottom yet, with a potential risk of further decline to $38,000.

XRP plummeted 24% to $1.17, leading the crypto market lower, with $47 million in daily liquidations, and trading volume surged 57% to over $11 billion. The Fear Index dropped to 11, indicating extreme panic, with market capitalization falling from $4.2 trillion to $2.27 trillion. Evernorth's holdings are at a loss of $446 million. Analyst Egrag Crypto warns that if the decline reaches 50-60%, the rebound should be considered a signal to exit.

Bitcoin plummeted 40.8% to $74,680, but four major indicators show it’s unlikely to fall further. U.S. Treasury yields are stable at 3.54%, futures basis is at 3% and not inverted, ETF outflows amount to only $3.2 billion, accounting for just 3%, and MicroStrategy holds $1.44 billion in cash with no liquidation risk. Oracle raises $50 billion to ease concerns over tech stocks.

"Hyperunit Whale" completely crashed, the whale liquidated all Ethereum leveraged positions, incurring losses of approximately $250 million, with only $53 remaining in the account. Previously, he made a profit of $200 million from shorting before Trump's tariffs in October, then switched to long positions, building a $730 million position. This week, Ethereum plummeted to $2,400, leading to a full liquidation.

Glassnode and Coinbase Institutional jointly release the 2026 Q1 report, revealing a structural market shift after deleveraging: BTC market share approaches 59%, systemic leverage drops to 3% of the total cryptocurrency market cap, and options open interest for the first time surpasses perpetual futures.