Derivatives Data

Gate News reported that on March 23, according to CoinAnk data, the entire network experienced $250 million in liquidations over the past 24 hours, of which long positions accounted for approximately $194 million in liquidations and short positions accounted for approximately $55.92 million in liquidations. By cryptocurrency, Bitcoin liquidations were approximately $77.92 million and Ethereum liquidations were approximately $49.09 million.

Gate News reported that on March 23, according to Coinglass data, if BTC breaks through $71,421, the cumulative short liquidation strength across mainstream CEXs will reach $1.27 billion. Conversely, if BTC falls below $64,705, the cumulative long liquidation strength across mainstream CEXs will reach $758 million.

XRP open interest declined approximately 75%, indicating that leveraged traders are exiting the market, but stablecoin fragmentation may increase bridge demand for XRP. Evernorth Holdings' IPO application demonstrates that institutions still view XRP's long-term value positively. The overall market faces macroeconomic pressure, with weak short-term momentum structure.

XRP has continued to underperform since the start of the year, failing to attract market capital, with current trading prices below major moving averages. SOPR and NUPL indicators show bottom signals, but these are only probabilistic characteristics. $1.51 serves as a near-term bullish-bearish dividing line, with breakouts potentially triggering a bullish rebound. The market maintains a cautious stance on XRP's short-term strong rebound, with the probability of returning to $2 at only 5%.

Between 2026-03-23 02:15 and 02:30 (UTC), ETH price rallied rapidly within the 2047.53 to 2070.28 USDT range, with 15-minute returns reaching +0.91% and volatility of 1.11%. Market fluctuations intensified during this time window, with increased attention, synchronized expansion in spot and derivatives trading volumes, and evident short-term long/short positioning battles. The primary driver of this price movement was recent on-chain large-scale stablecoin (USDC/USDT) minting events boosting liquidity, particularly approximately $1.6 billion in capital inflows on-chain around March 16, supporting mainstream

Between 2026-03-23 02:15 and 2026-03-23 02:30 (UTC), BTC yield recorded +0.61%, with prices fluctuating between 67807.1 and 68304.9 USDT, representing a volatility of 0.73%. During this short-term volatility period, market trading activity was robust, with enhanced linkage between spot and futures markets, and sustained volume increase in core trading zones, attracting market attention. The primary driver of this volatility was significant capital inflow from on-chain whale wallets to exchanges during the window period, with approximately 17,184 BTC flowing in within a short timeframe, marking a new monthly high. M

10x Research analysis points out that Bitcoin has broken below $69,000, marking a shift in market structure. Traders have significantly adjusted positions, with increased futures liquidations and negative funding rates. Options capital flows are moving toward downside protection, signaling hedging demand against downside risks. Meanwhile, market expectations regarding rate increases are diverging from the Federal Reserve's rate-cutting guidance, which could impact risk asset performance.

Hyperliquid's HIP-3 board has achieved billion in trading volume over the past 7 days, primarily driven by WTI crude oil contracts, demonstrating strong market activity. Powered by the US-Iran conflict, the platform's 24/7 trading functionality has made it an important source for price discovery, replacing traditional exchanges. As Hyperliquid adapts to CFTC regulations, it aims to maintain financial neutrality, but how to balance compliance requirements with the advantages of decentralized trading remains a challenge.

Bitcoin has continued to decline to around $67,950, with MicroStrategy founder Michael Saylor reiterating a buy-the-dip strategy. Huang Licheng's highly leveraged ETH position was completely liquidated, with losses exceeding $30.35 million. Fidelity has called on the US SEC to improve its regulatory framework for crypto assets. US stocks have broadly declined, and market sentiment remains cautious.

Gate News message shows that on March 23rd, Onchain Lens monitoring detected that Sky co-founder Rune opened a new 20x leverage long position in $GOLD (gold) during a price decline period at $GOLD . At the same time, Rune is closing out a previously held $SP500 position.

Gate News Report: On March 23, according to Onchain Lens monitoring, Machi Big Brother (@machibigbrother)'s ETH 25x leverage long position was completely liquidated again. Shortly after the liquidation, he opened a new ETH 25x leverage long position. Currently, the wallet balance at this address has only 32,000 USD remaining, with cumulative losses exceeding 30.35 million USD.

During the period from 2026-03-22 22:15 to 22:30 (UTC), BTC experienced significant volatility within a short-term range, with the 15-minute candlestick recording a +0.49% gain and closing at 68371.1 USDT. The low touched 67861.4 USDT, with an overall amplitude of 0.75%. Short-term market activity was active, market attention increased, trading volume expanded noticeably compared to the previous period, and active capital flows drove this wave of volatility. The main driver of this volatility was continuous inflows into US spot ETFs, as well as BTC net outflows at the exchange level. Specifically, according on-chain data shows,

2026-03-22 21:00 to 21:15 (UTC), BTC recorded a -0.58% return within just 15 minutes, with prices fluctuating in the range of 67562.1 to 68223.5 USDT, with an amplitude of 0.97%. During this period, market sentiment was highly tense, overall attention increased, and short-term volatility accelerated noticeably. The main driving force behind this anomaly was the resonance formed by spot market liquidity shortage and medium-sized funds accelerating their exit. On-chain data shows a significant net outflow of -371.99 BTC in the $100k-$1M transaction range, driving selling

Bitcoin's volatility has decreased to around $70,000, but traders are still heavily investing in downside protection. Although premiums for puts have dropped, they remain high historically, suggesting caution among investors. This defensiveness may signal an impending price bottom, as similar market conditions in the past have led to recoveries.

Gate News reported that on March 22, the market showed that SIREN futures price briefly surged past $4.8, currently trading at $3.3, with a short-term gain exceeding 50%. The market is experiencing significant volatility, please pay attention to risk management.

Gate News Reports: On March 22, the total liquidation volume in the cryptocurrency market over the past 24 hours reached $359 million, with long liquidations at $293 million and short liquidations at $65.428 million. BTC liquidations reached $139 million, and ETH liquidations reached $108 million. A total of 119,490 traders were liquidated over the past 24 hours. The largest single liquidation occurred on a certain CEX's BTC-USDT-SWAP trading pair, valued at $10.0182 million.

On March 22, UnRektCapital became the second-largest short holder on Hyperliquid BTC, with 40x leveraged short positions on 616 BTC, totaling a position size of $58.588 million, with unrealized profits exceeding $6.6 million.

March 22, 2026, 12:15 to 12:30 (UTC): BTC price fluctuated between 68313.3 and 68758.0 USDT, with the 15-minute candlestick recording a return of +0.51%, amplitude reaching 0.65%, and short-term trading volume remaining at relatively low levels. Market attention rebounded, driving increased intraday volatility. The primary driver of this movement is whale funds experiencing simultaneous high net inflows and outflows on trading platforms. On-chain data shows that certain whales holding positions for 6 to 18 months are choosing to transfer BTC back to exchanges for distribution.