Bitcoin has dropped below $106,000, reflecting a broader decline in cryptocurrency prices, with over $1 billion in leveraged positions liquidated. Despite the downturn, some analysts maintain bullish predictions for Bitcoin and Ethereum by year-end. Concerns about volatility driven by leveraged trading are also rising.

A prominent trader on Hyperliquid, who previously made headlines for a $150 million profit from shorting during a crypto crash, has opened another significant short position valued at over $160 million. Speculation connects this trader to Garrett Jin, the former CEO of BitForex, although these links remain unverified.

The perpetual trading decentralized exchange (DEX) Extended has officially launched on the Starknet mainnet, offering over 50 trading pairs and up to 100x leverage. The move from Ethereum to Starknet aims to leverage the network's scalability and performance benefits. However, the service is not available to users in the U.S.