ETH breaks through the $3900 mark

Bitget S/USDT's perpetual trading volume surged 13 times within 10 minutes, with a turnover of 8.14 million US dollars in the past 24 hours, an increase of 3.57% A surge in trading volume generally indicates an increase in market trading activity or large-scale fund buying and selling operations, which may be caused by certain important market changes or news announcements. According to AiCoin data, the comprehensive ranking of Bitget contracts ranks fourth globally

Wiston Capital's Charlie Erith says a leverage cascade drove the Oct. 10 break, with altcoins hit hardest, and lays out the signals he will track before adding risk.

Wrapped tokens crashed as Binance's infrastructure buckled, making it harder for market makers to stabilize prices.

As of now, crypto market funding rates have fallen to the lows seen during the 2022 bear market. Data shows this is one of the most significant leverage resets in crypto history, indicating that speculative excess in the market has been substantially cleared. Overall, market sentiment is leaning toward caution, and leverage risk has been significantly reduced. (glassnode)

OKX-ETH/USDT is currently trading at $4100.18, with a 5-minute increase of 0.89%. Please be aware of market fluctuations.