Overview

• Derivatives liquidations topped roughly $1.1 billion over 24 hours, led by more than $400 million in ETH longs, with wallet 0xa523 losing a 9,152‑ETH position worth about $36.4 million.
• Spot fund flows weakened, with about $241 million exiting U.S. Bitcoin ETFs on Wednesday and Ether ETFs posting fresh redemptions in a fourth straight day of outflows.
• Hotter U.S. macro readings, including a Q2 GDP revision to 3.8% and lower jobless claims, lifted yields and pressured risk assets as crypto stocks and miners logged broad declines.
• Traders flag an options‑expiry ‘max pain’ zone near $107,000 for Bitcoin, noting liquidity clusters that could attract price before month‑end.
• Flow data show bifurcation, with 11 wallets accumulating roughly $1.19 billion in ETH even as capital rotates to BNB Chain’s Aster, which overtook Hyperliquid in daily perpetual volume and saw open interest surge.