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Ether had $13 million to $14 million in depth within 0.15% of its market price. In simple terms, that's roughly how much money was sitting in orders close enough to the price that clearing …

Ether had $13 million to $14 million in depth within 0.15% of its market price. In simple terms, that's roughly how much money was sitting in orders close enough to the price that clearing it would move ether by just 0.15%. Depth this close to the price matters most for everyday trades, and for large orders that traders want filled without moving the market. The data undercuts a popular idea in markets that rising prices pull in more traders, and more traders mean deeper order books. That didn't happen with ether. That said, ether is still fairly easy to trade. "ETH remains fairly liquid at this range [within 0.15% of the market price], with most exchanges maintaining over $1 million in depth on each side," CoinGecko said. And ether isn't the only major token with thinner markets. Liquidity in solana's SOL, ether's main rival, has also shrunk, though CoinGecko measured it over a wider range. "The overall liquidity for SOL has shrunk considerably since 2025," the firm said. SOL's depth within 2% of the market price fell from about $28 million on each side of the order book last year to around $20 million this year. Depth at 2% shows how much money sits in orders further from the current price. It's a gauge of how much selling or buying pressure the market can absorb before the price makes a bigger move, the kind seen during a sharp rally or sell-off. So while ether's thinning shows up right next to the price, SOL's shows up in its ability to handle larger swings.

Bitcoin and Ethereum shorts took the biggest hits as forced closures swept 42,225 traders across derivatives venues Betting against crypto turned expensive this weekend. Traders saw $113 million in short positions forcibly closed over …

Bitcoin and Ethereum shorts took the biggest hits as forced closures swept 42,225 traders across derivatives venues Betting against crypto turned expensive this weekend. Traders saw $113 million in short positions forcibly closed over a 24-hour window ending October 5, 2026, according to data compiled by Coinglass. That figure made up the lion’s share of approximately $138 million in total liquidations. Long positions, the bets on rising prices, accounted for only $25.16 million of the wipeouts. Shorts were liquidated at more than four times the rate of longs. The damage report A liquidation happens when a leveraged trader’s collateral can no longer cover their losses. The exchange then closes the position automatically. Bitcoin led the carnage. Short positions on the largest crypto asset accounted for $57.07 million of the liquidations, roughly half of all shorts closed during the period. Ethereum came in second, with $24.04 million in short positions erased. Advertisement The single largest casualty was a $5.63 million ETHUSDT short on Binance. In total, 42,225 traders were liquidated across the venues Coinglass tracks. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Binance frequently leads in liquidation volumes, according to the Coinglass data, and the largest single wipeout landing there fits that pattern. A familiar pattern If $113 million in short liquidations sounds familiar, that is because it has happened before. In July 2026, a similar wave also produced $113 million in short liquidations. That earlier episode was tied to a 4.5% rise in Ethereum toward $1,980, a move that came amid inflows into Ethereum ETFs. When shorts get liquidated, the exchange has to buy back the asset to close their positions. That buying can push prices higher, which triggers more liquidations, which creates more buying. What it means for traders The lopsided split between shorts and longs tells a story about positioning. A meaningful number of traders expected prices to fall, and the market moved against them quickly enough to force them out. The July episode and this one produced the same $113 million figure in short liquidations, both tied to upward price moves catching bears off guard. When liquidations cluster on a few large venues like Binance, those platforms’ risk engines and liquidation mechanics become critical to how violently a move plays out. Heavy short liquidations suggest bearish positioning got stretched. Heavy long liquidations would suggest the opposite. What to watch from here is whether funding rates and open interest rebuild on the short side, setting up the conditions for another squeeze, or whether this weekend’s flush resets positioning toward something more balanced.

OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform, making it one of the first major crypto exchanges to take advantage of new US rules allowing digital …

OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform, making it one of the first major crypto exchanges to take advantage of new US rules allowing digital versions of public-company shares to trade on cr… OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform, making it one of the first major crypto exchanges to take advantage of new US rules allow…

Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reverses Bitcoin came within about $500 of its late-September peak before sellers pushed it back under $86,000. It's the second rally in a week …

Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reverses Bitcoin came within about $500 of its late-September peak before sellers pushed it back under $86,000. It's the second rally in a week to stall. What To Know - Bitcoin rose 1.5% t… Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reversesBitcoin came within about $500 of its late-September peak before sellers pushed it back under $86,000. It's the second r…

Joint venture of OKX and NYSE parent ICE files for 24/7 tokenized U.S. stock trading OKXICE, the joint venture of OKX and ICE, plans to launch tokenized U.S. stocks under SEC's new innovation exemption. …

Joint venture of OKX and NYSE parent ICE files for 24/7 tokenized U.S. stock trading OKXICE, the joint venture of OKX and ICE, plans to launch tokenized U.S. stocks under SEC's new innovation exemption. - OKXICE, a joint venture between crypto exchange OKX an… Joint venture of OKX and NYSE parent ICE files for 24/7 tokenized U.S. stock tradingOKXICE, the joint venture of OKX and ICE, plans to launch tokenized U.S. stocks under SEC's new innovation exemptio…

BlackRock's IBIT carried the week with $450 million in inflows while Fidelity's FBTC lost $168 million US spot Bitcoin ETFs pulled in $241 million in net inflows for the trading week ending October 2, …

BlackRock's IBIT carried the week with $450 million in inflows while Fidelity's FBTC lost $168 million US spot Bitcoin ETFs pulled in $241 million in net inflows for the trading week ending October 2, 2026. That makes three positive weeks in a row. BlackRock does the heavy lifting The headline number hides a lopsided week. BlackRock’s iShares Bitcoin Trust (IBIT) took in $450 million on its own, according to data compiled largely from SoSoValue, with additional tracking by Farside Investors. That brings IBIT’s cumulative figure to $65.73 billion. It remains the clear heavyweight of the group, and this week it outperformed the entire category’s net total by a wide margin. ARK 21Shares’ ARKB added a more modest $25.52 million. The fund’s cumulative total now sits at $1.4 billion. Advertisement Fidelity’s FBTC had the opposite experience. It posted the largest outflows of the week, shedding $168 million, though its cumulative asset base still stands at $10.9 billion. Do the arithmetic and something stands out. IBIT and ARKB together brought in more than the week’s net total, even after FBTC’s losses, which implies the remaining funds were net negative as a group. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. The bigger picture: assets, market share and a rebound Total net assets across all spot Bitcoin ETFs reached approximately $108.89 billion. That figure represents 6.42% of Bitcoin’s total market capitalization. Cumulative net inflows since the funds launched in January 2024 now total approximately $57.79 billion. Earlier in 2026, the sector absorbed heavy redemptions, leaving a net outflow deficit of about $5.8 billion by mid-July. The recovery started in August and picked up speed in September. The week ending September 25 delivered a record inflow of $2.4 billion, and the positive trend has now carried into October. Compared with that $2.4 billion week, $241 million is a step down. Still, the direction matters more than the size for a market that spent months watching money walk out the door. What to watch from here The concentration in IBIT says something about how returning money behaves. If IBIT keeps absorbing the bulk of new money while others see redemptions, the headline numbers may overstate how broad the renewed appetite really is. At 6.42%, ETF holdings are large enough that sustained buying or selling through these vehicles can influence the broader market’s supply and demand balance. Steady inflows could help support prices, but a return to heavy redemptions would put the same mechanism into reverse, as the first half of the year demonstrated. For now, the data tells a fairly simple story. After a rough start to 2026, money is flowing back into spot Bitcoin ETFs, cumulative inflows have recovered to approximately $57.79 billion, and BlackRock remains the main beneficiary of that return.

Chinese AI laboratories have made significant advancements, positioning themselves as competitive peers to U.S. AI leaders such as OpenAI and Anthropic, according to a Bloomberg Markets report. This development highlights a narrowing gap in …

Chinese AI laboratories have made significant advancements, positioning themselves as competitive peers to U.S. AI leaders such as OpenAI and Anthropic, according to a Bloomberg Markets report. This development highlights a narrowing gap in the AI frontier between China and the United States. Recent evaluations have shown that Chinese-developed AI models are approaching parity with U.S. systems, especially in the realm of open-weight AI models, which are often more cost-effective. This shift suggests that Chinese firms like Moonshot, Z.ai, and Alibaba are challenging the dominance of established American companies in the AI sector. Advertisement The prediction markets have reacted to this news with adjustments suggesting a potential decrease in confidence regarding Anthropic’s ability to maintain its lead in AI model superiority by the end of November 2026. Current market pricing indicates a significant shift in expectations, reflecting the competitive pressure from Chinese AI advancements. Key Takeaways Market pricing suggests a decrease in confidence in Anthropic’s ability to maintain the top AI model position by November 2026. The advancements in Chinese AI labs appear consistent with scenarios where the U.S. and China compete closely in AI technology. Chinese firms are leveraging open-weight models to compete effectively with U.S. proprietary systems, impacting market expectations. What to Watch Observers will be closely monitoring the performance of Chinese AI models on global leaderboards and benchmarks, which could further influence market perceptions of AI leadership. Key developments from companies like Anthropic, OpenAI, and their Chinese counterparts could shift current market expectations. Stakeholder moves, such as new model releases or strategic partnerships, may also provide insight into which organizations are leading the AI frontier.

Glassnode's heatmap data shows the biggest pile of leveraged short exposure sitting just above Bitcoin's current trading range Bitcoin’s biggest pool of vulnerable short bets is sitting right overhead. On October 4, 2026, on-chain …

Glassnode's heatmap data shows the biggest pile of leveraged short exposure sitting just above Bitcoin's current trading range Bitcoin’s biggest pool of vulnerable short bets is sitting right overhead. On October 4, 2026, on-chain analytics firm Glassnode flagged that the largest short liquidation cluster sits near the $90,000 level. With Bitcoin trading between $85,000 and $86,000 at the time, that cluster is not some distant target. It is a few percentage points away, which is close enough to make leveraged bears a little twitchy. If price reaches that zone, Glassnode’s data suggests a wave of leveraged short positions could be forced to close. That kind of mechanical unwinding is how a quiet market turns loud in a hurry. What Glassnode’s heatmap shows Traders who short Bitcoin with borrowed money are betting the price will fall. If it rises instead and hits a certain threshold, exchanges close those positions automatically to protect the borrowed funds. Closing a short means buying the asset back. When enough of those forced purchases land at once, they can push the price higher, which can trip the next batch of liquidations. Advertisement Glassnode’s read is that the densest concentration of these trip wires sits around $90,000. Estimates of cumulative short liquidations approaching that level run into the hundreds of millions of dollars across various trading platforms, though those figures are not uniform across sources. The firm also pointed to smaller clusters that formed over the prior two months, near $83,000 and $75,000. According to Glassnode, movement toward either of those levels could speed up the market’s next directional move. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. How we got here Earlier in the year, a dense band of short positions had built up between $82,000 and $86,000. That band was largely cleared out during the rallies of August and September, which followed record short liquidations. One of the standout moments was a one-day flush on August 19, a major short liquidation event that added to market volatility and helped fuel upward movement. With the $82,000 to $86,000 band mostly wiped out, the next meaningful cluster of overhead exposure has shifted up toward $90,000. What this means for traders Glassnode’s analysis relies on liquidation heatmaps, which are built from estimated leveraged exposure. They show where forced closures could pile up, not where price is headed. The maps also reflect estimated exposure on major centralized exchanges and exclude certain perpetual futures platforms, so the true size of the positioning near $90,000 could differ from what any single chart shows. If Bitcoin climbs into the $90,000 zone and triggers a large batch of short closures, the resulting forced buying could add momentum. If Bitcoin stalls below $90,000, attention would likely turn to the smaller clusters near $83,000 and $75,000. Glassnode’s point that a move toward those levels could accelerate the next swing suggests the downside path carries its own volatility risk. Liquidation clusters are not fixed. They grow as new leveraged positions open and shrink as traders close out or get liquidated. If the $90,000 cluster keeps thickening while Bitcoin hovers in the mid-$80,000s, the potential squeeze gets bigger. If it thins out, the setup loses some of its punch.

CoinGecko data shows ether outran Bitcoin last quarter while its market depth shrank to a fraction of Bitcoin's Ether had a great quarter. Its order books did not. Ethereum’s native token posted a gain …

CoinGecko data shows ether outran Bitcoin last quarter while its market depth shrank to a fraction of Bitcoin's Ether had a great quarter. Its order books did not. Ethereum’s native token posted a gain of nearly 70% in the third quarter of 2026, comfortably beating Bitcoin’s roughly 42% climb. But a CoinGecko analysis, cited by CoinDesk on October 5, 2026, found that the liquidity underneath that rally got noticeably thinner as prices rose. A big rally on a shallower foundation The CoinGecko data covers the period from July 6 to September 30. Over that stretch, ether outpaced Bitcoin by close to 28 percentage points on price. CoinGecko measured median daily market depth within ±0.15% of the mid-price. By that measure, ETH’s depth now sits at only 35% to 45% of Bitcoin’s equivalent level. In the comparable period of 2025, that ratio was at least 60%. In absolute terms, ETH’s depth in that tight band averaged around $13 to $14 million across the major exchanges studied. The analysis drew on data from eight major centralized exchanges. Advertisement Most major trading venues still maintained more than $1 million in depth on both the bid and ask sides. Retail traders buying or selling modest amounts are unlikely to notice much difference. With less money parked near the current price, big orders have to reach further up or down the book to get filled, which pushes the price around more than they might like. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Why this pattern is unusual Normally, rising prices and climbing trading volumes go hand in hand with deeper liquidity. Ether’s third quarter broke that pattern. Prices rose, volumes increased, and depth still contracted relative to Bitcoin. Ether is not alone in this. CoinGecko found that Solana showed a similar decline in liquidity over the period. XRP went the other way. Its total depth held steady, with the balance tilted predominantly toward buyers. On price, ether closed the quarter near $2,689 after touching intraday highs near $2,775. Bitcoin ended the period trading between $83,640 and $86,000, depending on the cutoff used. What may have powered the move The research points to returning inflows into US spot ETH ETFs as a likely driver of the rally. Net inflows reached approximately $3.1 billion, a reversal after outflows earlier in the year. ETF demand can push prices higher without necessarily adding depth to the exchange order books that CoinGecko tracks. Fund flows and resting limit orders are not the same thing. What this means for traders and the market Thinner books mean higher slippage, the gap between the price you expect and the price you actually get. A trade of a given size in ETH is now more likely to nudge the market than an equivalent trade in BTC. Desks executing big ETH orders may need to split trades into smaller pieces, spread them across venues, or stretch them out over time. Shallow books can amplify rallies, because buyers chew through sell orders quickly. They can amplify selloffs for exactly the same reason. The Solana parallel is worth watching. If thinning liquidity is showing up across several major non-Bitcoin assets at once, it raises the question of whether market makers are concentrating their capital more heavily in BTC. The XRP exception shows the trend is not universal.

Bitcoin is about to get a major bullish signal it hasn't had in over a year Key price averages are on the verge of confirming a major bullish configuration for the first time in …

Bitcoin is about to get a major bullish signal it hasn't had in over a year Key price averages are on the verge of confirming a major bullish configuration for the first time in over a year. - Bitcoin’s 50-, 100- and 200-day moving averages are nearing their … Bitcoin is about to get a major bullish signal it hasn't had in over a yearKey price averages are on the verge of confirming a major bullish configuration for the first time in over a year.- Bitcoins…