Najam Trades

🔹 Bitcoin (BTC):
Struggling to hold key resistance levels
Sharp volatility and liquidations hitting leveraged traders
Short-term trend remains weak
🔹 Altcoins:
Following BTC’s downside
High-risk and low-liquidity tokens hit hardest
Buying demand remains limited
🔹 Market Drivers:
Heavy sell-offs during Asian sessions
Rising exchange inflows from large wallets & miners
High volume hints at distribution, not accumulation
🔹 What to Watch:
Key support levels on BTC
Liquidity zones and volume confirmation
Risk management is crucial in high volatility
📊 Sentiment: Bearish → Neutral
⚠️ Volatility: High
$BTC
$ETH

1. Price Breakdown and Market Reaction
Bitcoin dropped sharply on Saturday, falling below $80,000 for the first time since April 2025. The largest cryptocurrency slid as much as 10% to $75,709, extending a correction that has now erased over 30% from its peak as selling pressure remains elevated.
2. Altcoins Follow Bitcoin Lower
The selloff spread across the market. Ether fell up to 17%, while Solana briefly plunged more than 17%, confirming broad risk-off sentiment across major tokens.
3. Liquidations and Market Damage
The decline wiped out around $111 billion in total crypto market value within 24 hours, according to CoinGecko. Roughly $1.6 billion in leveraged positions were liquidated, mainly in bitcoin and ether, accelerating downside momentum.
4. On-Chain Data Signals Weak Demand
CryptoQuant CEO Ki Young Ju said bitcoin’s realized cap has stalled, signaling that new capital inflows have dried up.
“When market cap falls without realized cap growing, that’s not a bull market.”
5. ETFs, Strategy, and Holder Behavior
ETF inflows and purchases by Strategy (MSTR) helped anchor prices near $100K last year, but long-term holders have been taking profits since early 2024. While bitcoin briefly moved below Strategy’s average cost, analysts see no immediate financial stress for the firm. A deep cycle-style crash remains unlikely unless Strategy starts selling.
6. Macro Frustration and What’s Next
Bitcoin has failed to rally despite a weaker U.S. dollar and record gold prices. Regulatory delays and fading hedge narratives have further hurt sentiment. Ju expects the market to resolve through wide-ranging consolidation, not a quick rebound.
$BTC
$ETH
$RIVER

Binance said the October 10 crypto flash crash was triggered by a macro risk-off move colliding with record leverage and vanishing order-book liquidity — not a system failure.
With Bitcoin and Ether heavily positioned after months of gains, over $100B in open interest fueled forced liquidations as prices fell. Market makers pulled exposure, bid-side depth disappeared, and small liquidations caused sharp drops.
The selloff mirrored global markets, where U.S. equities lost $1.5T in a single day. Blockchain congestion and delayed arbitrage worsened price gaps.
Binance acknowledged two brief platform issues but said 75% of liquidations occurred before them. The exchange compensated users with $328M and implemented system upgrades.
$BTC
$ETH
$XRP

1️⃣ Market Snapshot
Tokenized silver futures recorded the largest liquidations across the crypto market in the past 24 hours, surpassing both Bitcoin (BTC) and Ether (ETH)—a rare reversal of the usual risk hierarchy.
According to CoinGlass,
129,117 traders were liquidated
Total liquidations: $543.9 million
Tokenized silver: ~$142 million
Bitcoin: ~$82 million
Ether: ~$139 million
The largest single liquidation occurred on Hyperliquid, where an $18.1 million leveraged SILVER-USD position was forcibly closed.
2️⃣ Why Silver Led the Wipeout
Silver prices came under heavy pressure after an extraordinary rally earlier this month reversed sharply. As volatility spiked, leveraged long positions were caught offside.
U.S. government data shows that hedge funds and large speculators cut bullish silver positions by 36%, pushing net-long exposure to a 23-month low. This positioning unwind spilled directly into tokenized silver futures traded on crypto platforms.
3️⃣ CME Margin Hike & Volatility Shock
The selloff intensified after CME Group announced higher margin requirements for gold and silver futures, effective Monday.
Margin requirements increased by up to 50% on some silver contracts
Higher margins forced traders to add collateral or exit positions
This accelerated liquidations across leveraged products
As traditional markets tightened risk, the pressure quickly transferred to crypto-based commodities futures.
4️⃣ Bitcoin and Ether Take a Back Seat
Bitcoin and Ether did see liquidations, but the damage was relatively muted.
BTC and ETH liquidations reflected general risk-off sentiment
No single dominant unwind like silver
Highlights how macro-driven trades, not crypto-native narratives, dominated this session
This marked an unusual moment where commodities—not crypto majors—set the tone for liquidation flows.
5️⃣ What This Means for Crypto Traders
Tokenized metals are increasingly used to express macro views because they:
Trade 24/7
Require lower upfront capital
Offer high leverage without traditional futures accounts
But that accessibility cuts both ways. When volatility spikes, liquidations arrive faster and harder.
$BTC
$XAG

🦅 Warsh Fed Chair Speculation Spooks Bitcoin
Bitcoin slid toward $81K after reports suggested Kevin Warsh is emerging as a leading candidate to replace Jerome Powell as U.S. Federal Reserve Chair.
Markets view Warsh as decidedly hawkish. During the Global Financial Crisis, he repeatedly warned about inflation even as deflation risks and unemployment surged—cementing his reputation as a supporter of tight monetary policy.
Analysts say a Warsh-led Fed would likely mean:
Higher real interest rates
Reduced liquidity
Stronger U.S. dollar
Less appetite for risk assets like Bitcoin
This reaction is ironic given Trump’s push for aggressive rate cuts and pro-growth policies. Many observers argue Warsh’s history clashes with that agenda, raising doubts about the fit.
While the Fed chair doesn’t set rates alone, markets price expectations fast. Until clarity emerges, Warsh’s hawkish past may continue to pressure BTC and broader risk assets.
📉 Macro fears move markets before policies do.
$XRP
$ZEC
$RIVER

🚨 Bitcoin Dumps to $81K – $1.7B Liquidated in 24 Hours$
Bitcoin dropped to $81,000, its lowest level in 9 months, triggering $1.7 billion in liquidations as global macro fears hit risk assets hard.
⚠️ What triggered the sell-off?
• Rising geopolitical tensions
• Trump’s tariff threats shaking markets
• Weak US tech earnings, especially Microsoft
• Fear spilling over from AI stocks
📉 Over 270,000 traders liquidated — majority were leveraged longs, showing how overcrowded bullish positioning was.
💥 Total crypto market cap fell by $200B, dragging altcoins down with BTC.
🧠 Market lesson:
Leverage builds → structure breaks → liquidations cascade.
Macro events still control short-term price action.
🔍 Key takeaway:
This move is driven by macro fear, not fundamentals. Let price stabilize at structure before chasing trades.
📌 Risk management > predictions.
$BTC
$ZEC
$ETH

$Many traders get confused when price keeps going up, but the funding (interest) rate stays negative. On the surface, it looks contradictory — but in reality, this is one of the strongest market signals when understood correctly.
🔍 Understanding Negative Funding
A negative funding rate means:
There are more short positions than long positions
Short sellers are paying longs
Market sentiment is bearish, even though price is rising
This tells us that the majority of traders are positioned against the move.
🧠 Why Price Can Rise Despite Negative Funding
When price moves up while most traders are short:
Strong buyers (often smart money) are absorbing sell pressure
Shorts start getting uncomfortable
Stop-losses and liquidations begin to trigger
This often leads to a short squeeze, where forced buying pushes price even higher.
📊 What This Signals to Traders
This situation creates a bullish divergence between price and sentiment:
Price action: Bullish
Trader positioning: Bearish
Markets usually move in the direction that causes maximum pain, and that pain is often felt by the crowd. As long as price structure remains bullish, negative funding can act as fuel for continuation.
🧩 Trading Insight
Rising price + negative funding = bulls climbing a wall of fear
This is generally a healthier rally than one driven by over-leveraged longs. However, traders should stay cautious near major resistance and watch for sudden funding flips.
✅ Key Takeaway
Negative funding does not mean price must fall
It often signals trapped shorts
Always align funding data with market structure, not emotions
See Rose for this example
$ROSE