If Bitcoin breaks through $86,000, the mainstream CEX aggregate short liquidation intensity will reach 9.12 billion

May 28th — Per HTX’s market data, Bitcoin is currently trading at $73,524.15, marking a 3.13% drop in the last 24 hours. Ethereum sits at $1,994.33, down 4.20% over the same period; ETH dipped below the $2,000 key psychological level earlier today. Across top centralized exchanges (CEXs), funding rates for both BTC and ETH are firmly in bearish territory, reflecting weak long-position sentiment and an overall sluggish market mood. For Bitcoin, funding rates across platforms are mostly below the 0.01% benchmark, with no clear bullish signals. Ethereum’s bearish trend is even more pronounced: ETH’s overall funding rates fall below the 0.005% threshold, indicating stronger downward pressure compared to BTC. BlockBeats Note: Funding rates are mechanisms crypto exchanges use to keep perpetual contract prices aligned with the underlying asset’s market value. They work as fund transfers between long and short contract traders—exchanges do not collect these fees. The rate adjusts the cost o

May 28 update: According to Hyperinsight Monitoring (via its Telegram channel: https://t.me/HyperInsight), a large crypto whale on the Hyperliquid platform is continuing to offload HYPE spot tokens. The whale sold roughly 57,300 HYPE tokens using a Time-Weighted Average Price (TWAP) strategy, totaling about $3.3 million at current market rates. At the same time, this same wallet address dumped approximately 2.28 million units of PURR—a meme coin belonging to the Hyperliquid ecosystem—worth around $200,000. The specific wallet address involved is 0x77375a8c9d13bf79afb2a87f1b0ac1dfd5f5bf66.

May 28: Crypto market research firm Santiment stated in a recent post that Ethereum (ETH) has dropped below $2,000 for the first time since March 29. After a significant price pullback, the market typically sees two common emotional reactions: retail investors falling prey to FUD (Fear, Uncertainty, Doubt) amid weak performance, and those viewing the dip as a "buy the dip" opportunity driven by FOMO (Fear Of Missing Out). Santiment points out that right now, it’s the latter dynamic playing out. With ETH breaking a key psychological support level, many retail traders are jumping in to purchase the dip. However, the firm warns this may signal further downside for ETH: retail sentiment is overly optimistic currently, and historically, the general public tends to make incorrect market calls. Santiment adds that a more attractive buying opportunity usually emerges once FOMO fades and sentiment shifts toward panic.

May 28 — According to HTX market data, Bitcoin is down 3.23% in the past 24 hours, currently trading at $73,421. The strategy’s Bitcoin position has flipped from unrealized profit to loss, carrying an approximate 3% unrealized loss, or roughly $1.92 billion. As of May 25, 2026, the strategy holds a total of 843,738 BTC, with a total cost of around $63.87 billion, at an average cost of roughly $75,700 per BTC.

On May 28, per HyperInsight monitoring, a new wallet address on Hyperliquid has opened a large BTC position. The address entered this long position with 40x leverage, holding 416 BTC for an approximate position value of $30.56 million. Its average entry price stands at $73,345, with a liquidation price set at $72,429. Currently, the address has placed a take-profit order and plans to exit the position at $74,400. Separately, it was reported that this address deposited $468,000 on the platform yesterday, initiated a significant BTC short position, and fully closed that short half an hour ago. It realized a profit of $311,000, translating to a 66.5% return rate. Immediately after closing the short position, the address entered a long position using the realized profits. Address: 0x0df25979a16d993e55bd58d05b6197c71634ab64

May 28: The White House’s Office of Information and Regulatory Affairs (OIRA) has begun reviewing a draft rule proposed by the U.S. Commodity Futures Trading Commission (CFTC) focused on prediction markets—a development that could reshape how U.S.-based prediction platforms like Kalshi and Polymarket operate. Federal documents show the rule was submitted to OIRA for review on May 26 and centers on "prediction markets." While the full text of the rule hasn’t been released, market observers interpret this as the CFTC advancing plans to establish a broader, federal regulatory framework for event-based contracts. Prior to this, several states—including Illinois and New Jersey—have argued that event contracts, especially those tied to sports, amount to online gambling. But Kalshi and the CFTC contend that designated contract markets regulated under federal commodity law should fall exclusively under the CFTC’s jurisdiction. Notably, former U.S. President Trump publicly backed the CFTC’s cl