Glassnode: Bitcoin Spot and Perpetual Contract Selling Pressure Surges, Options Market Shifts to Bearish Protection
On May 19th, Glassnode reported that Bitcoin’s various derivatives markets are sending conflicting signals, pointing to an overall weakening market structure. A clear shift toward selling pressure has emerged, with the Spot Cumulative Volume Delta (CVD) crashing by 848.7%. Even so, spot trading volume rose 4.2%, signaling increased activity—though this uptick is likely driven more by general trading interest than actual bullish sentiment.
Open Interest ticked down 2.9%, reflecting traders’ cautious stance on leverage amid today’s uncertain market conditions. That said, the funding rate for long positions spiked a massive 136.6%, pointing to a revival in demand for long bets and growing bullish sentiment among traders. But the Perpetual Contract CVD took a nosedive of 278.7%, underscoring heavy selling pressure and confirming that bearish sentiment remains dominant.
The 25-delta skew for options climbed 42.75%, as traders pile into more downside protection—a clear sign the market is s
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A whale with a 34.6 million position went long on ZEC and HYPE, with a daily profit of $1.2 million.
May 19th Update: According to Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN), a whale trader on Hyperliquid opened concurrent long positions for ZEC and HYPE yesterday, with a combined total position size of $34.6 million. Both major tokens saw significant gains today, netting the whale a daily profit of over $1.2 million. The full position details are as follows:
- 10x ZEC Long: 36,800 ZEC in position (valued at $20.9 million), entry price of $540, liquidation price of $490, unrealized profit of $1.03 million
- 10x HYPE Long: 287,000 HYPE in position (worth $13.6 million), entry price of $46.7, liquidation price of $45.1, unrealized profit of $170,000
Wallet Address: 0x86523927bffeafe2e532f0218feb1f3c29f6120d
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Monad Foundation: Monad Network Unaffected by Echo Security Incident and Operating Normally
On May 19, Monad co-founder Keone Hon posted to social media confirming the Monad Network remains fully unaffected and operating normally. Security researchers are currently investigating an eBTC-related incident on Echo Protocol, and have determined the underlying vulnerability resulted in approximately $816,000 in stolen funds.
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HSBC: More Central Banks Could Hike Rates Even If US-Iran Ceasefire
May 19: HSBC economists Janet Henry and Ben Ellis pointed out in a report that even if the U.S. and Iran strike a peace deal in the near term, more central banks will likely lift their policy rates.
They explained that even if the Strait of Hormuz reopens rapidly, supply shock risks and their effects on global inflation and growth will continue. Current rate hikes are largely centered on maintaining central bank credibility.
Australia’s and Norway’s central banks already faced inflation pressures before the conflict, and they’re hoping May’s rate hike will be their final one. The European Central Bank and Bank of England could start raising rates in June or July; if the Federal Reserve raises rates, more emerging market economies may tighten their monetary policies. HSBC forecasts the Philippines will raise rates further, and expects rate hikes in India and Indonesia by the second half of this year. (FXStreet)
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Alibaba's Qwen 3.7 Max Large-scale Model Preview Version to Be Released
A May 19 report states that Alibaba’s Qwen 3.7Max Preview and Qwen 3.7Plus Preview—its two new Q&A-focused large language models—are set to launch shortly. According to Arena’s evaluations, Qwen 3.7-Max-Preview ranks 13th globally in the text domain, making it the highest-ranked Chinese model in that category. In the visual domain, Qwen 3.7-Plus-Preview places 16th on Arena’s leaderboard, also securing the title of the top-ranked Chinese model for visual tasks on the list.
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A Whale Takes Profits of $27 Million on BTC Short Position, Plans to Short at Larger Scale Again
On May 19th, Hyperinsight monitoring reports a major short position on Hyperliquid closed for profit, unwinding both Bitcoin (BTC) and Ethereum (ETH) short positions simultaneously. The BTC short position was closed at roughly 363.2 coins, valued at about $27.8 million, with a closing price of $76,774. The ETH short position totaled 2808 coins, worth approximately $5.98 million, closed at a price of $2,130—bringing the total value of closed positions to around $33.8 million. Immediately after closing, this same address placed new sell orders: planning to short 257.2 BTC (~$40 million) in the $77,500–$78,000 price range, plus 4,484 ETH at $2,230 (about $10 million). Address: 0x32008fcb6bbd16532afc83ca8b6c920dde22c407
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