Исследование с проверкой источников: Binance / OKX / Hyperliquid

What moved, and by how much

Bitcoin's perpetual on Binance traded at $83,515.70 at 10:49 UTC, up 0.69% over 24 hours, inside a range of $82,942.80 to $84,340.20. CoinDesk reported that it had touched a high above $84,000 on Sunday before slipping back below $83,500, while ether gained about 2.5% to around $2,560.

The action was further down the list. These are Binance USDT-margined perpetual figures read at 10:49 UTC:

The open interest columns are our arithmetic from Binance's hourly open interest history over the previous 24 hours. Dollar open interest rises with price alone, so the contract count is the better guide to whether traders are adding new positions. On that measure FIL saw the most fresh positioning, about 10% more contracts, while NEAR's 16% jump in dollar terms was mostly price.

NEAR's daily high of $6.024 was the highest in all 330 days of Binance daily candles we pulled, which go back to mid-November 2025. CoinDesk described it as the highest since December. CoinDesk's own derivatives read found NEAR's rally had more fresh positioning than ZEC's and the second-highest open-interest-adjusted buying pressure among major tokens, suggesting buyers rather than short covering were driving it.

Why the move is happening in thin markets

CoinDesk's research team found that, a year after the 10 October 2025 flash crash, order-book depth for bitcoin and ether has recovered to pre-crash levels in dollar terms, but altcoin liquidity has kept eroding. "Market makers have returned to majors," research lead Joshua de Vos wrote.

That combination explains why a modest wave of buying can push a mid-cap token 10% to 20% in a day: there is less resting liquidity to absorb it. The same thinness works in reverse. A token that rises 18% on $108 million of perpetual volume can give back a large share of that move on similar volume if buyers step away.

Two more signals from CoinDesk point to churn rather than conviction across the wider market. Futures volume over 24 hours was $126 billion, up 81%, while total open interest rose only 2.44% to $145.8 billion: traders are turning over positions quickly but few are opening new ones. Buyers made up 52% of 24-hour taker volume, up from 48% last week, so sellers no longer dominate.

Our data: who got liquidated

NexuAlpha's liquidation tracker reads Binance's USDT-margined force-order stream and OKX liquidation orders for BTC, ETH, SOL, XRP and DOGE. It is a lower bound, not the whole market, because Binance publishes at most one order per symbol per second.

At 10:48 UTC the tracker recorded $33.8 million of liquidations over 24 hours across 2,815 orders. Shorts accounted for $23.8 million, about 70% by our arithmetic, and longs for $10.0 million. ETH was the largest contributor at $16.6 million, ahead of BTC at $10.7 million and SOL at $5.2 million. The single largest order was a $2.53 million ETH short closed on OKX at 15:40 UTC on 11 October, during Sunday's push higher.

The picture flipped in the last few hours. Over the four hours to 10:48 UTC the tracker logged $4.47 million of liquidations, of which longs were $3.23 million, about 72%. The largest was a $532,351 BTC long on OKX at 09:25 UTC, as bitcoin slipped back from Sunday's high. In the last hour only $93,000 was liquidated, which is consistent with a quiet, range-bound bitcoin.

Funding is calm. At 10:48 UTC bitcoin's funding rate was 0.0052% per eight hours on Binance and 0.0066% on OKX, near the neutral level. Ether was 0.0014% and 0.0010%. On the rallying tokens, Binance funding was 0.01% on FIL, 0.0029% on ZRO and close to zero on NEAR, so longs are not yet paying heavily to hold. Our funding rate board updates these figures live, and the liquidations page shows the full breakdown.

The money leaving bitcoin ETFs

Institutional flows are pointing the other way. CoinDesk, citing SoSoValue, reported that US-listed spot bitcoin ETFs had $681 million of net outflows last week, the most since June, with most of the selling on Wednesday and Thursday. Spot ether ETFs have not recorded a day of inflows since 28 September; the nine-day outflow run is the longest since June. We covered the start of that run in our piece on ether ETF outflows.

When ETF buyers are absent, bitcoin tends to drift, and traders looking for movement rotate into smaller coins. That rotation is visible today, but it is fragile because it is happening where liquidity is thinnest.

What to watch next

• US CPI on Wednesday 14 October. CoinDesk flagged it as the week's main macro event. A surprise in either direction usually moves bitcoin first and altcoins harder.
• Open interest in contracts, not dollars. If FIL, NEAR or ZRO keep rising while contract counts fall, shorts are covering and the move may fade.
• Funding on the movers. A jump to 0.05% per eight hours or more on these tokens would mean longs are crowding in.
• ETF flows. A return to net inflows would be the first sign that the larger buyers are back.
• Liquidation split. Our tracker showed shorts paying for Sunday's rise and longs for Monday's dip; a big one-sided flush would signal the range is breaking.

How to act on this

Rallies in thin altcoins can reverse as quickly as they start, so size positions so that a 15% to 20% move against you does not trigger liquidation, check funding before you open a leveraged long, and avoid adding leverage just before Wednesday's CPI release.

Quick answers

Why is NEAR up today? NEAR rose about 10% with open interest up 16% in dollars and about 4% in contracts on Binance. CoinDesk's data shows buyers driving the move. We found no single official announcement that explains it.

Why is FIL up today? FIL rose about 14.5% with roughly 10% more open contracts on Binance. Media reports link it to the end of a six-year token vesting schedule and a network upgrade planned for 19 October; we could not confirm either from Filecoin's own pages.

Is this altcoin season? One day of outperformance in thin markets is not a trend. Bitcoin and ether leverage is barely changed and ETF money is still leaving.

Who is getting liquidated? In the last 24 hours mostly shorts (about 70% of $33.8 million in our lower-bound tracker); in the last four hours mostly longs (about 72% of $4.47 million).

What we could not verify

We did not find primary sources for the causes of the ZRO, FIL or NEAR moves. Total market liquidations are higher than our tracker shows. ETF flow figures are from SoSoValue as reported by CoinDesk; we did not pull issuer data.

Limits of this article

Prices, open interest and funding were read between 10:48 and 10:50 UTC on 12 October 2026 and will have changed; percentages and open interest changes are our arithmetic from exchange data. Partner links may earn NexuAlpha a commission paid by the exchange, at no extra cost to you.