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BTC traders brace for $2B liquidation risk as market hovers near key levels

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Bitcoin investors face ‘harvest now, decrypt later’ quantum threat

Coinglass liquidation data is sketching out a brutal risk corridor for Bitcoin (BTC), with billions in leveraged positions sitting just above and below spot. According to figures summarized by Jinshi Finance, if BTC drops below roughly $70,346, cumulative long liquidations on major centralized exchanges would climb to around $2.056 billion. On the flip side, a squeeze above about $77,312 would put some $1.514 billion worth of short positions at risk of being wiped out.

That overhang comes after an already heavy flush in the last 24 hours. Across the crypto market, total liquidations reached about $402 million over the period, with roughly $80.6751 million in longs and $322 million in shorts forced out of their positions. For Bitcoin alone, longs lost around $20.3203 million versus approximately $111 million in short liquidations, while Ethereum traders saw about $16.483 million in long positions and $142 million in shorts liquidated. In total, 94,026 traders were liquidated, with the largest single order — on Bitfinex’s tBTCF0:USTF0 pair — clocking in near $6.9442 million.

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Despite that, spot prices in majors remain elevated. Bitcoin is currently trading around $73,778, up about 5.8% over the last 24 hours, after ranging between roughly $69,460 and $73,770 on more than $55.4 billion in volume. Ethereum is changing hands near $2,201, higher by around 6.8% on the day, with a 24‑hour low of about $2,041.70 and high of $2,200.03, and turnover close to $27.76 billion. This combination — strong spot, heavy leverage, and tightly clustered liquidation bands — is exactly the kind of setup that tends to produce sharp, directional moves when one side finally loses its grip.

For now, the message from the derivatives tape is simple: positioning is crowded, and the next impulsive move will likely be amplified by forced deleveraging. Traders running size around these levels need to respect the liquidation heatmap as much as the chart. Real‑time stats for majors are available via crypto.news dashboards for Bitcoin and Ethereum. For more on how leverage has shaped recent swings, see earlier reporting on why Bitcoin briefly slid under $66K, the latest ETF‑driven flows into BTC, and Michael Saylor’s continued treasury‑backed accumulation of Bitcoin.

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Crypto World

Olema Pharmaceuticals (OLMA) Stock Jumps 9% Following Fourth Quarter Earnings Surprise

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OLMA Stock Card

TLDR

  • Olema Pharmaceuticals (OLMA) shares surged 8.5% Monday following a Q4 earnings beat, posting a loss of $0.50 per share versus the anticipated $0.51.
  • The biotech firm recorded a GAAP net loss of $46.1 million in Q4 2025 and $162.5 million across the full fiscal year.
  • Stifel maintained its Buy rating with a $48 price target post-earnings, highlighting the company’s cash reserves lasting through mid-2028.
  • Roche’s recent persevERA trial failure has sparked concerns regarding Olema’s OPERA-02 trial prospects.
  • Wall Street consensus leans “Moderate Buy” with a mean price target of $41, while shares are down 41% YTD despite a 234% surge over the trailing year.

Olema Pharmaceuticals (OLMA) shares rallied 8.5% during Monday’s trading session following the release of fourth-quarter results that narrowly topped analyst projections. The stock peaked at $16.07 intraday before closing near $15.96, marking a solid gain from the previous close of $14.71.


OLMA Stock Card
Olema Pharmaceuticals, Inc., OLMA

The biopharmaceutical company disclosed a quarterly loss of $0.50 per share for Q4 2025, surpassing the Street’s expectation of a ($0.51) loss by one cent. While modest, the earnings surprise proved sufficient to drive investor enthusiasm.

For fiscal year 2025, Olema recorded a GAAP net loss totaling $162.5 million. The fourth quarter alone contributed $46.1 million to that deficit. Management opted not to host an earnings conference call following the release.

The stock’s performance has been nothing short of volatile. While OLMA has delivered a remarkable 234% return over the past twelve months, shares had tumbled 41% year-to-date prior to Monday’s rally.

Trading activity registered at 518,220 shares — significantly below the stock’s typical daily volume of approximately 1.6 million. The subdued volume suggests investors may be proceeding cautiously rather than piling in aggressively.

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Analyst Reaction

Stifel responded swiftly to the earnings release, reaffirming its Buy rating and $48 price objective. The firm emphasized Olema’s financial runway stretching into mid-2028 as a significant advantage, providing adequate resources to reach several critical milestones ahead of palazestrant’s anticipated commercial debut.

Palazestrant is currently in development for second- and third-line metastatic breast cancer treatment, with market entry projected for 2027.

The broader analyst community maintains an optimistic outlook. Ten analysts have assigned Buy ratings to the stock, with one Hold and one Sell rating. The consensus price target stands at $41.00 — representing substantial upside from current trading levels.

Oppenheimer reaffirmed its Outperform rating on March 9th. JPMorgan lifted its price target from $29 to $32 last November, maintaining an Overweight stance. TD Cowen also holds a Buy rating, highlighting palazestrant’s superior exposure compared to rival therapies.

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H.C. Wainwright reduced its target to $38 but retained its Buy rating in response to recent clinical trial developments.

The Roche Factor

Earlier this month, Roche announced that its persevERA clinical trial — assessing giredestrant combined with palbociclib in first-line metastatic breast cancer patients — failed to achieve statistical significance on its primary progression-free survival endpoint. While a favorable numerical trend was observed, the miss carries significant implications.

The persevERA outcome is considered a potential indicator for Olema’s own Phase 3 OPERA-02 trial, which is evaluating palazestrant. Topline results from OPERA-02 aren’t anticipated until 2028 at the earliest.

Stifel noted that Roche’s complete persevERA dataset will likely be unveiled at ASCO 2026, which could represent the next significant catalyst — or obstacle — for OLMA shares.

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Regarding financial health, Olema maintains a stronger cash position than debt, boasting a current ratio of 8.03. The stock’s 50-day moving average currently sits at $24.18, considerably above Monday’s trading range.

Institutional ownership accounts for 91.78% of outstanding shares. Meanwhile, company insiders have been net sellers — divesting approximately 805,501 shares valued at roughly $23 million during the past three months.

The company currently commands a market capitalization of approximately $1.09 billion.

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Abra Plans Nasdaq Debut in $750M SPAC Deal With New Providence

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Abra Plans Nasdaq Debut in $750M SPAC Deal With New Providence

Digital asset wealth management platform Abra is going public through a reverse merger with special purpose acquisition company New Providence Acquisition Corp. III, marking the latest attempt by a crypto company to access public markets as investor interest in the sector rebounds.

On Monday, Abra announced that it had signed a definitive agreement with the blank-check company, or SPAC, valuing the crypto wealth manager at a pre-money equity valuation of $750 million.

Existing investors, including Pantera Capital, Blockchain Capital, RRE Ventures, Adams Street and SBI, will roll over their shares into the combined entity rather than cashing out.

Following the transaction, the new entity is expected to trade on the Nasdaq under the ticker symbol ABRX.

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The public company will focus on crypto wealth management, offering custody and segregated accounts, yield strategies, crypto-backed loans, treasury management and trading services.

Source: Julian Klymochko

Founded in 2014 by CEO Bill Barhydt, Abra operates a digital asset platform serving high-net-worth investors, institutions and family offices. Its investment management arm, Abra Capital Management LP, is registered as an investment adviser with the US Securities and Exchange Commission, allowing it to provide portfolio management services to clients.

Abra has been restructuring its US operations following regulatory scrutiny. In 2024, the company reached a settlement with regulators in 25 US states over its Abra Earn crypto lending product, agreeing to return assets to investors and wind down the program for US clients. The settlement came as the company shifted its focus toward institutional and wealth management services.

Related: VC Roundup: Big money, few deals as crypto venture funding dries up

Crypto companies increasingly eye public markets

Abra is one of several digital asset companies seeking public listings as the industry looks to attract traditional capital.

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In the past year, SPACs have drawn renewed interest as a route for crypto-related companies to enter the public markets, Jessica Groza, partner with Kohrman Jackson & Krantz, said. “While this model offers rapid liquidity, valuation flexibility, and access to institutional capital, it also carries substantial risks: volatility, structural dilution, opaque disclosures, technical complexity and regulatory uncertainty.”

Traditional initial public offerings (IPO) have been the preferred route for several big name crypto players over the past year, including stablecoin issuer Circle Internet Group, which listed on the New York Stock Exchange in June 2025, and crypto exchange Gemini, which debuted on Nasdaq later that year. 

Source: The Wall Street Journal

Blockchain-focused financial services company Figure Technologies and institutional trading platform Bullish also went public via IPO during the same period.

Other companies are reportedly exploring public offerings as well, including hardware wallet maker Ledger and institutional crypto custodian Copper.

Related: Crypto Biz: Circle stock defies Wall Street and digital asset selloff

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