BTC : Wiping out leverage.
Bye Bye Perps!
The drop in BTC was due to Leveraged Longs (3X, 10X, and 50X) Perps getting wiped out in a cascade down. This happens quite regularly.
When Illegal Gary, allowed the ETFs to be approved, he first made sure that any SPOT ETF could be manipulated by allowing the Futures Market to be the tail that wags the dog. You have to realize that although BTC is finit…
