K33 pointed out in its analysis report: Monday's plunge caused the evaporation of $285 million in long positions and triggered $1.6 billion in liquidations across the entire cryptocurrency market. This plunge was the fourth largest liquidation event for Bitcoin in 2025 and the highest single-day liquidation of digital assets since February. In addition, BTC's seven-day actual volatility fell to just 0.6% last week, the lowest level since August 2023. Once positions are overly tilted, sudden chaos may occur. K 33 remains cautious about the near-term outlook, and the broader derivatives market reflects the same defensiveness. Chicago Mercantile Exchange (CME) futures trading remains sluggish, with the September contract once falling below the spot price. (The Block)