Friday’s $20B Crypto Market Meltdown: A Bitwise Portfolio Manager’s Postmortem Analysis

📉 Bearish
Friday’s sell-off triggered what Bitwise portfolio manager Jonathan Man called the worst liquidation event in crypto history, with more than $20 billion wiped out as liquidity vanished and forced deleveraging took hold, in an article on X published Saturday.Perpetual futures — “perps” in trading shorthand — are cash-settled contracts with...
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How Auto-Deleveraging on Crypto Perp Trading Platforms Can Shock and Anger Even Advanced Traders

⚪ Neutral
Auto-deleveraging is the emergency brake in crypto perpetuals that cuts part of winning positions when bankrupt liquidations overwhelm market depth and a venue’s remaining buffers, as Ambient Finance Founder Doug Colkitt explains in a new X thread.Perpetual futures — “perps” in trading shorthand — are cash-settled contracts with no expiry...
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