Bitcoin\u2019s price suddenly dipped to $75,500 after it failed to remain above $77,000 during the weekend. Most altcoins have followed suit, including the largest ones, which performed a lot better on Friday and Saturday.<\/p>\n
This volatility, untypical for the weekend, came amid reports that one of the most prominent market makers, Wintermute, had gone short on a few fronts.<\/p>\n
At first, Onchain Lens noted<\/a> that the company sent nearly $60 million in BTC and SOL to Binance and Coinbase, likely intending to sell. In addition, the analytics resource said Wintermute has built up a massive futures position on Hyperliquid.<\/p>\n Although current on-chain data shows that the company has a $13.85 million long position, the lion\u2019s share of this leveraged trade is shorting the market \u2013 $146.19 million.<\/p>\n WINTERMUTE IS HEAVILY SHORT <\/p>\n Wintermute currently holds $160.03M in open positions on Hyperliquid, with $146.19M short and just $13.85M long.<\/p>\n The positions are sitting at a combined unrealized loss of $3.66M, while earning $2.14M in funding.<\/p>\n Despite this, Wintermute remains\u2026 pic.twitter.com\/fOYjGCyEpz<\/a><\/p>\n \u2014 Onchain Lens (@OnchainLens) August 22, 2026<\/a><\/p>\n\n Bitcoin\u2019s price, which had one of its most impressive weeks in years, surging<\/a> from $64,000 to almost $80,000 in less than 48 hours, reacted with a dip on Sunday morning. The asset had calmed at over $77,000 but slipped by over a grand and a half to $75,500. It found some support there, and now sits above $76,000, but it\u2019s still 2% down on the day.<\/p>\n Many altcoins have posted more painful losses. ETH has dropped by 5% to well below $2,400, while XRP is down by 6.5%. Ripple\u2019s token was rejected<\/a> at $1.70 on Friday evening and Saturday morning, and is now back below $1.50.<\/p>\n CoinGlass data shows that almost $100 million in logs were wrecked in the past hour, with BTC and ETH holding the same share of around $41.5 million each. On a daily scale, the total liquidations top $350 million, with more than 90,000 traders getting wrecked, which is a lot for a weekend.<\/p>\n This Sunday correction came after a few signals suggested<\/a> that bitcoin is due for a pullback after gaining $15,000 in days.<\/p>\n The post BTC, ETH, XRP Tumble as Wintermute Builds Heavy Short Positions<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s price suddenly dipped to $75,500 after it failed to remain above $77,000 during the weekend. Most altcoins have followed suit, including the largest ones, which performed a lot better on Friday and Saturday. This volatility, untypical for the weekend, came amid reports that one of the most prominent market makers, Wintermute, had gone short […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-217060","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/217060"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=217060"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/217060\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=217060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=217060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=217060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}