The sudden drop in the Asian session looks just like the hyperliquid stop-loss orders we saw on September 24. Turns out, it’s the same batch of wallets and the same operator… (probably a quant program running). Last time, they had over 2,700 BTC in long positions… all liquidated during that big red candle on 9/24. This time, they opened over 1,000 BTC long positions at an average price of around 86k… with stop-losses set between 82.5k and 82.8k. When the price spiked down this time, they didn’t liquidate. But about half an hour ago, during the sideways movement, they actively closed over 700 BTC long positions. Now, only wallet **0xa0479b2c614cbd03ceab36ae5a6d0822035e553c** has over 300 BTC left… stop-loss at 82.5k. ---------- At the same time, the 82.5k level is also a target for some short positions to take profit, and it’s the lower boundary of this range (the 9/28 low). There’s still an hour until the U.S. stock market opens, and the price is looking weak for now. Coinbase premium is still negative (see chart 3). So, within the first half hour after the market opens, let’s see if there’s an opportunity in this area… Ideally, an 82.5k SFP. Looking at the contract order book, there are already orders lined up all the way down to 82k.