According to Wu, Glassnode data shows that despite BTC falling by 3.2% and ETH by 6%, the current market liquidation volume remains relatively low, with BTC at 110 million USD and ETH at 132 million USD, and the open interest (OI) retracement is mild. Glassnode points out that this round of decline is more likely to be dominated by spot selling pressure rather than leverage liquidation triggered by derivatives, and there are currently no signs of a leverage squeeze.

🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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📅 Event Period: August 1, 2025, 15:00 – August 15, 2025, 19:00 (UTC+8)
👉 Event Link: https://www.gate.com/candy-drop/detail/BTC-98
Dare to trade. Dare to win. 

📢 Gate Square Exclusive: #WXTM Creative Contest# Is Now Live!
Celebrate CandyDrop Round 59 featuring MinoTari (WXTM) — compete for a 70,000 WXTM prize pool!
🎯 About MinoTari (WXTM)
Tari is a Rust-based blockchain protocol centered around digital assets.
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🎨 Event Period:
Aug 7, 2025, 09:00 – Aug 12, 2025, 16:00 (UTC)
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Post original content on Gate Square related to WXTM or its