Bitcoin Surges Above $109,000, Ethereum Surges Above $3,850

On September 26th, according to Coinglass data, if Ethereum drops below $3700, the cumulative intensity of long liquidation on mainstream CEXs will reach 408 million. On the other hand, if Ethereum breaks through $4000, the cumulative intensity of short liquidation on mainstream CEXs will reach 1.208 billion. BlockBeats Note: The liquidation chart does not display the exact number of contracts to be liquidated or the exact value of the contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent liquidation clusters, that is, intensity. Therefore, the liquidation chart shows to what extent reaching a certain price level will have an impact. A higher "liquidation bar" indicates that when the price reaches that level, it will trigger a more intense reaction due to a liquidity cascade.

On September 26th, according to Coinglass data, the entire network had a liquidation of $493 million within the past 1 hour. The total amount of long liquidations was $486 million, while the short liquidations only reached $7.09 million.

On September 26th, the three major US stock indexes continued to decline. Both the Nasdaq and the S&P 500 dropped by more than 1%, while the Dow fell by 0.7%. (Xinhua Finance)

On September 26th, according to HTX market data, Bitcoin fell below $10,900, experiencing a 24-hour decline of 4.34%.

On September 26th, based on Coinglass data, within the past 24 hours, the total value liquidated across the entire network amounted to $829 million. There were $759 million in long liquidations and $69.887 million in short liquidations. During the past 24 hours, a total of 210,632 people were liquidated globally. The largest single liquidation took place on Hyperliquid - ETH-USD, with a value of $29.1176 million.

On September 26th, Andrew Kang, a partner at Mechanism Capital, tweeted that he had significantly purchased short-term put options for ETH. Each contract cost $15, and if ETH were to fall to the $3000 range, he would receive $400 - 1000. Prior to this, in a post referring to his criticism of Tom Lee the previous day, Andrew Kang stated, "Ethereum is Luna 2.0." In the article, Andrew Kang directly labeled Tom Lee's theory about ETH as "foolish" and put forward five counterpoints, causing a stir in the industry. These counterpoints are as follows: The widespread adoption of stablecoins and RWAs will not bring the expected benefits. The analogy of Ethereum as "digital oil" is not accurate. Institutional buying and staking of ETH? Pure fantasy. Is ETH equivalent to the total value of all financial infrastructure companies? Extremely absurd. Technical analysis shows that ETH is still clearly in a multi-year consolidation range, and the recent price increase was ruthlessly rejected aft