Data: In the past 24 hours, the entire network has liquidated $518 million, with long positions liquidated at $445 million and short positions at $72.68 million.

Bitcoin breaks $71,000! Over 100 million in short positions liquidated across the entire network

The cryptocurrency market has recently shown signs of recovery, with Bitcoin breaking through $71,000 and a single-day increase of 4.81%. At the same time, the total amount of short positions liquidated across the network has exceeded $100 million, and the liquidation amount for Ethereum is also quite significant. The US stock indices have slightly risen, indicating macro market capital adjustments.

Overview of Mainstream Perp DEXs: Hyperliquid trading volume rebounds to $9.6 billion, up 37% week-over-week

Hyperliquid platform's trading volume has significantly increased among mainstream Perp DEXs, reaching $9.6 billion in 24 hours, a 37% increase compared to the previous period. Other platforms experienced relatively small fluctuations, with some slight declines. The trading volume rankings are Hyperliquid, Aster, Lighter, EdgeX, Grvt, and Pacifica.

Data: If ETH drops below $1,975, the total long liquidation strength on major CEXs will reach $932 million.

ChainCatcher reports that, according to Coinglass data, if ETH drops below $1,975, the total liquidation strength of long positions on major CEXs will reach $932 million. Conversely, if ETH breaks above $2,180, the total liquidation strength of short positions on major CEXs will reach $496 million.

Ethena (ENA): Impressive recovery, but is the upward momentum sustainable?

Ethena (ENA) has seen an 11.55% increase in open interest and a 5.08% price rise, despite being in a wider downtrend. Although bullish signals have emerged, the recovery may be temporary. Caution is advised as traders assess profit-taking strategies.

A major ETH bearish whale was liquidated in a series of liquidations and has exited the market, nearly clearing a $31 million position.

Due to ETH's short-term increase of over 5%, the whale position at address 0xa5e4 on Hyperliquid was liquidated in a series of liquidations, with total losses exceeding $1.5 million. The liquidation scale approached $30 million. The account balance once remained at $170,000 but has now been fully withdrawn and exited.

Gate Research Institute: DEX Trading Volume Rebounds, SuperLink Ecosystem Accelerates Development | Gate Institutional Crypto Market Weekly Report (February 23 – March 1, 2026)

Recently, market liquidity has been relatively thin, with BTC dropping rapidly and entering a consolidation phase, while ETH has shown weak performance. Geopolitical risks have driven up oil and precious metals, with funds shifting toward defensive assets. DEX trading volume experienced a pulse release, but overall remains below historical highs, and the market is still in a deleveraging stage. Next week, attention should be paid to several macroeconomic indicators and events such as token unlocks that could cause market volatility.