Cryptonews

Futures longs dominate with +1.5M contracts-because who needs sleep when you can bet on a coin? But the $2.8 Parabolic SAR resistance is like a “Don’t Try This at Home” sign. ⚠️

A report from CryptoQuant, those diligent chroniclers of this strange new world, speaks of a “market reset.” A reset! As if one can simply *reset* the human heart after it has been shattered by financial ruin. They claim this event is amongst the most severe recorded. But seriously, aren’t they *always* saying that? By $12 billion, open interest collapsed – from $47 to $35 billion, they inform us. How terribly symbolic! A great emptying, a purging of excess… as if the market, itself, is undergoing a spiritual crisis. 🙄

Assurément ! Même ces vendeurs paniqués, qui semble-t-il, ont oublié leurs bonnes manières, achètent à la hausse, tout comme des marchands en folie qui ne veulent pas manquer la fête. 🎉

With dips as scarce as hen’s teeth, throwing on shorts might seem like a cunning stratagem. Past flash crashes have famously bounced back with a V, but this bounce? Well, it’s playing hard to get-no guarantee it’ll blossom into a full-blown rally. Stay tuned, old sport!

Lo and behold, the Chicago Mercantile Exchange (CME, for those not in the know) decided today was the day to roll out regulated options for Solana’s SOL and Ripple’s XRP. Yes, you heard that right-regulated. As if the crypto world needed more rules. But hey, who are we to judge? 🧐

Behold, the chart-a canvas upon which Technical Analyst Nehal has painted a masterpiece of potential. 🖼️ A descending resistance trendline, broken with the subtlety of a sledgehammer, reveals a bullish structure so textbook it could teach a course at Harvard. The projected upside? A modest 121%, of course. 🤑 Should momentum hold (and why wouldn’t it?), our dear WLD may waltz toward the $2.00 resistance, completing a breakout so pristine it deserves a standing ovation. 👏

The scene is set: Ethereum, a creature of both wonder and chaos, has just endured its most ruthless liquidation, stripping away a staggering 28 billion dollars in interest-the kind of cleanup that would make even a hoarder tremble. Did someone say “market reset”? Indeed, that’s the polite term for what’s really a messy, albeit necessary, upheaval. The investors, some brave, others just reckless, watched as their cherished assets evaporated-poof!-like a magician revealing his secrets with a smirk. 👀

1️⃣ The mighty $BNB, $DOGE, and $ETH rose from the ashes like phoenixes after a market crash that would make even the most hardened trader weep. 🌋💸

And let us not forget the other player in this drama. YZi Labs, the family office of none other than the founder of Binance himself, with a mere $200 million, has decided to join in the fun. It’s as if the rich have gathered at the high table, each one vying to outdo the other in their quest for more, more, more. Only a few months ago, in August, China Renaissance had hinted at a smaller, more modest investment of $100 million. But here they are, raising the stakes, as if they had discovered the philosopher’s stone in the form of a blockchain.

The trouble began when Binance Earn markets, tied to Ethena’s USDe, Solana’s BNSOL, and Ethereum’s wBETH, decided to play a game of “lose the peg.” Oh, what a jolly time it was-for chaos, not for traders! The exchange, with a tip of its hat and a sheepish grin, promised to pay back those who traded futures, margin, and loan markets using these tokens as collateral. The window of woe? A mere 40 minutes between 21:36 and 22:16 UTC. 🕰️🤦‍♂️