ETH is trading at $1,550, and its liquidation map tells a lopsided story. Across Binance, OKX, and Bybit over the past 180 days, the leverage is almost entirely stacked on the short side, above current price. Below it, there's very little left.

Cardano reached a price it hasn't seen since 24 December 2020, dipping to $0.1385 before steadying at $0.1448. Normally a six-year low means a market everyone has stopped paying attention to.

XRP has slipped to $1.04, down 3% on the day, after touching a low of $1.0116, its weakest print since the June 5 capitulation.

Two prominent voices, BitMEX co-founder Arthur Hayes and Strategy's Michael Saylor, argue the same thing from different angles: AI vacuumed up the money that could have driven Bitcoin higher, and the moment that reverses, crypto could be the destination.

On Binance's USDT perpetual market, average weekly volume per asset now ranks metals first, oil second, equities third, and altcoins outside the top 10 dead last, reframing what a crypto exchange is.

The past three months have been rough for most of the crypto market, but the damage was far from even. Some majors gave back a fifth or more of their value, while a couple swam against the tide entirely.