A massive ETH liquidation on Hyperliquid led a leverage-driven wipeout that pushed total crypto liquidations past $2.5 billion in 24 hours.

The firm’s recent ETH purchases came just ahead of a sharp market slide, pushing unrealized losses past $6 billion as liquidity thinned and liquidations picked up.

Bitcoin sank to its lowest levels since April as profit-taking by early holders collided with thinning liquidity and a sharp drop-off in fresh capital.

The main impact of the price decline is slowing Strategy's ability to buy more bitcoin without diluting shareholders, as its stock now trades at a discount to its bitcoin holdings.

A severe winter storm has forced US miners to curtail operations, dragging bitcoin’s hashrate, output and miner margins to their weakest levels in months.

Glassnode data shows large bitcoin holders accumulating, while retail remains in distribution.

The platform's governance token (STEP) plummeted over 80% following the announcement amid a wider crypto market drawdown.

Tokenized AI will democratize access to the world’s most valuable resource, argues Brukhman.

Ether also declined significantly, dropping to 56th place with a market cap just above $300 billion and losing 14.5% of its value.

Long-term bitcoin holders are selling at the fastest pace since August, while some industry observers suggest the market may be approaching a bear-market bottom.