I just reviewed the weekend data and the pattern repeats: the bears are once again losing heavily. Bitcoin briefly touched $80,900 last Monday, the highest since late January, and that was enough to liquidate $300 million in short positions within 24 hours. Truly, nearly 4 times more shorts than longs were closed at a loss. Only Bitcoin generated $179 million of those losses, with Ethereum contributing another $95 million. The largest liquidation I saw was a short position of $11.77 million in ETH on a major CEX. The interesting part is that this is the second time in two weeks that something similar has happened. Funding rates on Bitcoin futures have been negative almost all April, meaning short sellers are paying to keep their bearish bets. Every time the price rises, that position explodes violently. In the broader crypto market, we saw interesting movements. Ethereum rose 2.3% to $2,330, XRP gained 2.1% to $1.45, and Solana advanced 1.4% to $95. Dogecoin remains the star, with a 14% rally this week to $0.11. Bitcoin ETFs in the U.S. attracted $1.97 billion in April, the best month since October. But Ethereum ETFs saw net outflows of $82.5 million. Regarding derivatives, open interest in Bitcoin futures surged to 763K BTC, the highest level since early May. ZEC, ETH, and BTC show the largest increases in open interest over the past 24 hours, indicating strong activity in derivatives. Analysts say Bitcoin needs to consolidate above $85,000 to confirm the breakout. Meanwhile, tokens of real assets are on the radar. ONDO led the rally after the commitment on the CLARITY Law, rising 11% in 24 hours. The total value locked in Ondo reaches $3.57 billion. Others like TRU and PENDLE are also rising with renewed interest in real-world asset tokenization, which now totals over $30.9 billion. The market continues to show clear dynamics: bears remain surprised by each rally, and derivatives indicate serious capital is once again entering the crypto market after the risk reductions at the end of April.

BTC0.05%
ETH-0.8%
XRP1.64%
SOL1.96%
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