According to @KobeissiLetter, the S&P 500 experienced a dramatic loss of $100 billion per trading hour from Wednesday to Friday, totaling a $2 trillion decline. Additionally, S&P 500 futures saw a further $120 billion loss shortly after market close. This significant market movement indicates heightened volatility and potential trading opportunities in derivatives and futures markets.

According to Crypto Rover, Bitcoin is currently creating a significant CME gap, which is raising concerns among traders. CME gaps, which occur when the Bitcoin futures market does not align with the spot market, often lead to increased volatility as traders anticipate the gap's closure. Historical patterns indicate that these gaps can be filled, potentially impacting Bitcoin's short-term price movements, as cited by Crypto Rover.

According to Ai 姨 (@ai_9684xtpa), a significant trader quickly closed a 50x leveraged long position on ETH and immediately reinvested the proceeds into purchasing 1,879.88 ETH in the spot market. Over the past 24 hours, this trader has accumulated a total of 3,747.76 ETH, valued at $7.56 million, with an average purchase price of $2,017.17, currently facing an unrealized loss of $353,000. This move indicates a strategic shift towards spot accumulation while maintaining a presence in the futures market, suggesting a bullish outlook on ETH.

According to @glassnode, futures markets are experiencing a notable cooling trend, with a significant reduction in open interest (OI) across major cryptocurrencies. Over the last 30 days, Bitcoin (BTC) OI decreased by 11.1%, Ethereum (ETH) OI dropped by 23.8%, Solana (SOL) OI fell by 6.2%, and meme coins experienced a massive 52.1% decline in OI. This trend indicates a potential reduction in leveraged trading activities, which is crucial for traders to consider when assessing market conditions.

According to Coinbase International Exchange, they will begin transitioning the IP-PERP pre-launch market into a standard perpetual futures market around 15:00 UTC. The process is expected to take approximately 4 hours to complete.