October Crypto Crash Left Market Makers Holding Coins, BitMEX Reports
The sharp volatility triggered liquidations across centralized and decentralized platforms as market prices moved against leveraged bets.
Crypto News
Market makers were left holding bags of crypto following October’s crash, leading to the most challenging trading conditions since 2022, according to BitMEX’s annual report.
The market cratered on Oct. 10, with Bitcoin falling from $121,000 to $107,000. Several altcoins, including XRP, Ethereum, Dogecoin and others, experienced deeper declines.
Exchanges liquidated leveraged futures positions worth $20 billion, the highest on record. The sharp volatility triggered liquidations across centralized and decentralized platforms as market prices moved against leveraged bets.
Exchanges employed…
