Liquidations

One unanimous vote. One quarter point. And the market that half the timeline swore would crack did not crack — Bitcoin printed −0.31% while Ethereum got cut −4.70% in the exact same session. That split is the whole story of this week, and it is why what just opened looks nothing like the panic the headline count is selling you. The forced sellers already did their work. What is left on the screen is a repriced market with a rulebook being written in real time — and a very short list of assets that held. ...

The rulebook just got voted down 49-50, Bitcoin knifed to $74,910, and $771 million of leveraged positions were washed out in a single session. If you were waiting for a discount, this is what one looks like when it lands on your screen. The market did the selling for you. The only question left is whether you sit out the cheapest 24 hours of the month. Here is exactly what broke, what did not, and what a US account does before 2:00 p.m. ET tonight. ...