XRP derivatives markets experienced a violent short squeeze following cooler-than-expected U.S. inflation data. According to CoinGlass, XRP saw $76,450 in liquidations over one hour, with a staggering 1,122% short-side liquidation imbalance. Specifically, $70,180 came from short positions versus only $6,270 from longs. This occurred as the Core Consumer Price Index (CPI) printed its softest reading since 2021, triggering a market-wide macro pivot that trapped bearish traders.
While Bitcoin and Ethereum absorbed the bulk of total market liquidations at $4.72 million and $3.39 million respectively, XRP's microstructure was uniquely characterized by this extreme short squeeze. Analysts note the 11x asymmetry indicates short sellers were caught off-guard by a sudden upward price spike.
Separately, veteran trader Peter Brandt reframed Bitcoin's recent price action, dismissing the twin peaks near $69,000 in 2021 and 2025 as a bearish "double top." Instead, Brandt draws parallels to gold's 1975 failed breakout, which preceded a massive rally from $200 to $850 within a year. He suggests Bitcoin's current path—with a retracement to $16,000 and a slow grind back—follows a similar slope, with a third foundation level now established above $60,000, setting the stage for a potential historic breakout.
In institutional news, Bitmine Immersion (BMNR) has significantly deepened its Ethereum bet. The firm now holds 4,167,768 ETH, valued at approximately $3,119 per ETH, representing 3.45% of Ethereum's total supply of 120.7 million. CEO Tom Lee announced total company assets exceed $14 billion, including crypto holdings and $988 million in cash. Bitmine's near-term target is to control 5% of all ETH, positioning itself to become the largest ETH staking entity in 2026. The company's portfolio also includes 193 Bitcoin and a $23 million stake in Eightco Holdings.
Market analysis reveals divergent on-chain behavior for XRP. The XRP Ledger shows increasing payment count but decreasing average transaction value, suggesting a shift from large whale transfers to smaller, retail-oriented usage. This has created a disconnect where network activity rises but speculative capital remains hesitant, keeping price action subdued below key moving averages.
Ehereum faces a critical technical inflection point around $3,300, coinciding with the 100-day Exponential Moving Average (EMA). A decisive break above this level could invalidate the current lower-high sequence and open a path toward $3,500-$3,700. Failure here risks a retest of the $3,000 psychological support.
Shiba Inu shows signs of potential long-term structural change, with on-chain metrics pointing to significant exchange outflows. Analysts suggest that if the current trend continues, outflows could surpass one trillion SHIB tokens, reducing immediate sell-side liquidity and setting the stage for a potential reversal when demand recovers, despite the price currently trading in a weak technical structure.
