I think FET follows ATOM’s price action more than Bitcoin’s — Bitcoin only dropped about 2%, ATOM fell 12%, and FET is down around 5%. And FET is built on Atom network. $FET $ATOM
Crypto is like gold — it’s durable over time and cannot be counterfeited. As of today, there’s no way to fake it. That’s exactly why it holds value. $FET $BTC
2025–2026 was a classic leverage flush phase. The crypto market went through a long sideways/bearish structure with extremely violent wicks. That kind of environment is the worst possible scenario for leveraged traders.
Why so many liquidations happened
Excessive leverage (x10 – x50 – x100) Most retail traders weren’t trading spot anymore. They were on perpetual futures (Binance, Bybit, OKX). → A -5% move can already liquidate a x20 position. → A -12% wick wipes out almost everything.
A trap market (extended range) No clear macro trend for months. So you get:
bullish breakout → short squeeze
then rejection → long squeeze
Result: the market doesn’t trend — it harvests margin.
Funding rates and open interest When too many traders are positioned in the same direction, market makers typically move the opposite way. It’s mechanical:
Price moves toward the largest pool of liquidations.
Altcoins (including FET) Altcoins are even more brutal:
lower liquidity
thinner order books
20–40% moves in hours
Leveraged alt positions are statistically fragile.
What really happened
2025–2026 wasn’t just a bear market. It was an institutional accumulation phase.
To accumulate, large players need one thing: 👉 retail holders to let go of their coins.
The most effective way to achieve that isn’t slow decline. It’s:
fear
capitulation
cascading liquidations
A liquidation isn’t just someone selling. It’s an exchange force-selling at market price — often at the worst possible level. That’s effectively a forced transfer from impatient traders to patient buyers.
Clear conclusion
Yes. A massive number of traders were liquidated throughout 2025 and early 2026. Likely the majority of those consistently using leverage.
In crypto cycles, it’s almost a law:
The bull run often begins when there aren’t enough traders left to liquidate.
And historically, after a prolonged period of capitulation… that’s usually when the regime shift begins.
Fetch.ai just released the updated uAgents version on GitHub — version 0.4.2. You can check the changelog here: https://github.com/fetchai/uAgents/compare/core@0.4.1...core@0.4.2