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According to ChainCatcher, if bitcoin breaks through $114,000, the cumulative short liquidation intensity on major CEXs will reach 1.226 billions. Conversely, if bitcoin falls below $110,000, the cumulative long liquidation intensity on major CEXs will reach 1.603 billions. Note: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. The bars on the liquidation chart actually represent the relative importance, or intensity, of each liquidation cluster compared to adjacent clusters. Therefore, the liquidation chart shows the extent to which the underlying price reaching a certain level will be affected. A higher "liquidation bar" indicates that once the price reaches that level, there will be a stronger reaction due to a wave of liquidity.

Jinse Finance reported that Bernstein reiterated its $230 target price for Circle (CRCL), stating that USDC is expected to maintain its growth and will not be affected by the short-term impact of Hyperliquid stablecoins. Approximately 7.5% of USDC is used as collateral for Hyperliquid perpetual contracts, but Bernstein pointed out that it takes time to cultivate liquidity for new tokens. Circle CEO Jeremy Allaire stated that USDC will be deployed to HyperEVM. Analysts expect that the interest rate cut cycle and payment integration will drive demand for USDC, and its market share has now risen to 30%.