In the past hour, the entire network has experienced a $1.125 billion liquidation, including $68.5102 million from multiple liquidation and $1.056 billion from short liquidation.

Tech Charts market technical analyst Aksel Kibar pointed out that the BTC daily chart is forming a bullish inverted shoulder pattern, with neck resistance at $66600. If BTC clearly breaks through and stabilizes at this position, the target price is at $76000. This structure may indicate that BTC is building a potential bottom in this bear market after peaking at $126000.

According to The Block, the Ethereum core development team Nethermind has announced the discontinuation of Layer Zero's DVN business and the migration of cross chain infrastructure to Chainlink CCIP. Nethermind has joined the Chainlink network as a node operator and strategic technology provider, providing engineering tools, infrastructure services, and integration support for blockchain application developers in the future.

Coinbase announced the integration of perpetual contracts into the Base App through Hyperliquid, supporting up to 50 times leverage. This product covers over 290 perpetual contract markets, including Bitcoin, Ethereum, tokenized stocks, and commodities. Chintan Turakhia, the head of Coinbase engineering, stated that perpetual contracts account for 75% of cryptocurrency trading volume and are the most desired feature for highly active users of the Base App. Transactions are executed by Hyperliquid, and users do not need to leave their existing wallets. This product is currently not open to the United States, United Kingdom, Canada, and other jurisdictions that restrict leveraged encrypted derivatives. Jesse Pollak, founder of Base, stated that predicting the market, perpetual contracts, and stablecoins have become stronger drivers of adoption. （Decrypt）

President Trump said that many ships passed through the Strait of Hormuz last night, and the United States has full control, but the flow of oil will not be completely smooth, and oil prices will drop significantly. President Trump stated that negotiations with Iran may take place at some point, but Iran cannot possess nuclear weapons. President Trump stated that he had a good conversation with Canadian Prime Minister Trudeau last night. The United States has no tariffs on Canada, and American farmers will no longer face tariffs. The two sides have reached an agreement, which requires final document confirmation.