
An SK Hynix Perp Flash-Crashes on a Hyperliquid Market
One share traded 29.96% below the prior close in Seoul, and an SK Hynix perpetual on a Hyperliquid HIP-3 market fell 18.7%. Three liquidation totals circulate.
Altcoins, ETH & general crypto

One share traded 29.96% below the prior close in Seoul, and an SK Hynix perpetual on a Hyperliquid HIP-3 market fell 18.7%. Three liquidation totals circulate.

Bitcoin held a $63,700 to $65,406 band as the day's digests disagreed on the print, and 97.2% of its liquidations fell on longs.

Bitcoin settled at $64,062 with prices barely moving, but DOGE futures open interest neared 16B tokens and ether's hit 14.53M ETH โ the most since June 7.

Bitcoin drifted higher on thin weekend volume, and the day's forced liquidations fell almost entirely on shorts โ a read on positioning, not direction.

Traders bought 20,000 $70,000 calls and sold 20,000 $72,000 calls on Deribit for the 31 July expiry, a $2.5B notional structure that settles two days after the Fed.

Bitcoin touched $65,200 and settled at $63,669.13, up 3%, as $357M of liquidations landed 81% on shorts โ a reversal after weeks of long-side flushes.

About $3 billion of leveraged positions was liquidated over two days as bitcoin fell 4.90% to $63,682.64. Open interest dropped 8.5% to $111.4 billion, and Solana hit its lowest price since December 2023 with 94% of its liquidations long.

An anonymous trader launched a Polymarket bot with a $61.94 deposit. In just a few weeks, the bot grew it to $721,000 -- a 1,164x return. The strategy, the math, and what it means for prediction markets.