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$6 Billion force liquidated margin trades on crypto during this Monday causing the overall drop Anonymous Tue Feb 23 12:37:11 2021 No.29492184 [Reply] [Original]

Binance, Huobi and OKEx have force liquidated over $6B worth of crypto since Monday. according to bybt.com

This is beyond doubt the cause of the current dip.

>>	Anonymous Tue Feb 23 12:38:15 2021 No.29492269 >>29492184 This. Why else do you think it dumps like that? Nobody was selling at those levels. We resume moon today unironically.

>>	Anonymous Tue Feb 23 12:40:50 2021 No.29492484 >>29492269 WAGMI

>>	Anonymous Tue Feb 23 12:41:14 2021 No.29492528 File: 385 KB, 447x438, 1613612172889.png [View same] [iqdb] [saucenao] [google] >>29492184 >The largest single liquidation order happened on Houbi for bitcoin, valued at $20.66 million. Holy fuck someone got actually raped

>>	Anonymous Tue Feb 23 12:42:24 2021 No.29492631 >>29492528 hopefully it was elon

>>	Anonymous Tue Feb 23 12:42:31 2021 No.29492642 >>29492184 Where can I get a chart of leveraged longs and shorts? Would probably predict shakeouts to a high degree of accuracy. Too much money being made on leverage = time for exchanges to pump or dump them into liquidation.

>>	Anonymous Tue Feb 23 12:43:13 2021 No.29492708 Worked out nicely. I was able to get another couple hundred in that I was waiting on a dip for.

>>	Anonymous Tue Feb 23 12:46:50 2021 No.29492990 >XRP positions liquidated lol.

>>	Anonymous Tue Feb 23 12:48:15 2021 No.29493108 >>29492184 good, xactly what was needed

>>	Anonymous Tue Feb 23 12:48:52 2021 No.29493147 >>29492184 i really, really, really don't get how can a group of people collectively worth $6B are margin trading without exit strategies, stop loss positions, or plain old fucking limits, can anyone explain this shit to me?

>>	Anonymous Tue Feb 23 12:50:05 2021 No.29493249 who the fuck would trade bitcoin on leverage when a correction is long overdue?

>>	Anonymous Tue Feb 23 12:52:25 2021 No.29493428 >>29492528 that has to be instant rope

>>	Anonymous Tue Feb 23 12:52:29 2021 No.29493430 >>29492269 >>29492484 they got liquidated because the price was moving down the price was moving down because people were selling people don't get liquidated if there is no movement

>>	Anonymous Tue Feb 23 12:52:42 2021 No.29493448 >>29493249 Who the fuck would buy GME at 400 There's all kinds of people apparently

>>	Anonymous Tue Feb 23 12:54:08 2021 No.29493554 >>29493147 reddit.

>>	Anonymous Tue Feb 23 12:54:29 2021 No.29493587 >>29492528 wonder if he smoke a cig

>>	Anonymous Tue Feb 23 12:54:39 2021 No.29493602 >>29493147 greed is a helluva drug

>>	Anonymous Tue Feb 23 12:56:01 2021 No.29493731 >>29492642 I think you gotta pay for those

>>	Anonymous Tue Feb 23 12:57:03 2021 No.29493830 >>29493430 Don't you know anon, I can get you liquidated just by looking at your id

>>	Anonymous Tue Feb 23 13:04:03 2021 No.29494442 File: 169 KB, 852x1280, 4AB7399D-3A1D-461B-B62E-125207B3DA7D.jpg [View same] [iqdb] [saucenao] [google] $ROPE time

>>	Anonymous Tue Feb 23 13:12:12 2021 No.29495101 File: 332 KB, 590x1280, image_2021-02-23_191205.png [View same] [iqdb] [saucenao] [google] damn

>>	Anonymous Tue Feb 23 13:13:35 2021 No.29495215 >>29494442 Link to bot?

>>	Anonymous Tue Feb 23 13:14:13 2021 No.29495262 >>29492184 >Playing with margin Ask Melvin what he thinks about using margin

>>	Anonymous Tue Feb 23 13:14:45 2021 No.29495315 >>29495101 You will never be a woman

>>	Anonymous Tue Feb 23 13:15:17 2021 No.29495361 >>29495215 seems to be from telegram

>>	Anonymous Tue Feb 23 13:16:05 2021 No.29495406 >>29493147 exit strategy = if liquidated get rope

>>	Anonymous Tue Feb 23 13:16:09 2021 No.29495411 >>29495101 lmao fuck hedgies.

>>	Anonymous Tue Feb 23 13:16:48 2021 No.29495457 >>29492528 Probably has hundreds of millions desu

>>	Anonymous Tue Feb 23 13:18:16 2021 No.29495580 >>29495101 >>29492184 nope, not a scammy market. Crypto is completely legit!

>>	Anonymous Tue Feb 23 13:18:21 2021 No.29495588 >>29495315 >completely irrelevant to context bot or street shitter?

>>	Anonymous Tue Feb 23 13:18:35 2021 No.29495601 >>29492184 My only question is: what other asset are these 6 billion migrating to? Stocks? ETFs? Silver?

Anonymous Tue Feb 23 13:18:48 2021 No.29495619

>>29493147
stop losses are a fucking meme in crypto.

if you trade with stop losses you get taken out by exchanges because they can see where you put your stops so you die a death of a thousand cuts.

play without stop losses and on margin and you get fucked this way instead.

>>	Anonymous Tue Feb 23 13:20:07 2021 No.29495720 >>29495101 JUST

>>	Anonymous Tue Feb 23 13:21:57 2021 No.29495882 >>29494442 lol @ all the faggots trying to long BTC at 48k

>>	Anonymous Tue Feb 23 13:22:02 2021 No.29495889 Why did it get to 58 in the first place and shouldn't that rise resume now that we know this was a specific event causing a dip?

Anonymous Tue Feb 23 13:23:35 2021 No.29496014

>>29495601
Are you serious?
You have 10 BTC, each one is worth 50k. Your net work is 500k.
Now if BTC drops to 40k.
your net worth is 400k.

If you borrow 5X leverage the loss of 100k gets multiplied into a loss of 500k.

Because of the risk of your margin account going negative, the exchange takes your 10 bitcoins and sells it to another guy who has a buy on 40k. You have 0 BTC some other guy has your 10 BTC.

>>	Anonymous Tue Feb 23 13:25:41 2021 No.29496201 >>29495889 too many false information out there, most people dont know it yet

>>	Anonymous Tue Feb 23 13:25:55 2021 No.29496222 >>29495619 this implies manipulation on the exchanges though

>>	Anonymous Tue Feb 23 13:28:50 2021 No.29496450 >>29496222 There are many types of manipulation by exchanges since no one is regulating them. Have you heard of Quadriga? The CEO just went to India and forged a death certificate.

>>	Anonymous Tue Feb 23 13:32:49 2021 No.29496770 >>29496222 Checked and extremely newfag

Anonymous Tue Feb 23 13:34:26 2021 No.29496916

>>29493147
When you trade size it isn't that simple
Once you go to a certain size you basically just gotta live and die by the trade in crypto. If the things starts cascading down with liquidations 20% in an hour you can't really save your position, mainly just hedge it in the opposite direction with perps

>>	Anonymous Tue Feb 23 13:35:28 2021 No.29497005 Green candles will arrive by tomorrow morning

>>	Anonymous Tue Feb 23 13:37:22 2021 No.29497185 >>29492528 Imagine his account saying $-20660000.00

>>	Anonymous Tue Feb 23 13:37:45 2021 No.29497217 File: 317 KB, 1080x2400, Screenshot_20210223-133726_Robinhood.jpg [View same] [iqdb] [saucenao] [google] >>29492184 I'm so done with crypto lol

>>	Anonymous Tue Feb 23 13:38:40 2021 No.29497297 >>29497217 >options

>>	Anonymous Tue Feb 23 13:40:23 2021 No.29497441 >>29495101 HOLY JUST

>>	Anonymous Tue Feb 23 13:40:48 2021 No.29497468 File: 141 KB, 300x300, Vlcsnap-2011-07-26-22h23m00s67.png [View same] [iqdb] [saucenao] [google] That makes me moist

>>	Anonymous Tue Feb 23 13:41:21 2021 No.29497517 >>29495101 even hedgies get scam wicked lol

>>	Anonymous Tue Feb 23 13:41:23 2021 No.29497518 >>29495101 >be hedgefund >don't hedge POETRY O E T R Y

>>	Anonymous Tue Feb 23 13:45:11 2021 No.29497823 File: 66 KB, 590x1280, 12021-02-23_03-48-49.jpg [View same] [iqdb] [saucenao] [google] >>29492528 Think thats bad...

>>	Anonymous Tue Feb 23 13:45:26 2021 No.29497844 holy shit... https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

>>	Anonymous Tue Feb 23 13:45:36 2021 No.29497864 >>29495101 BOG’D hard

>>	Anonymous Tue Feb 23 13:46:09 2021 No.29497922 >>29496222 >gamble your money >casino wins WTF REPORT TO SEC

>>	Anonymous Tue Feb 23 13:46:09 2021 No.29497924 >>29492184 How long till even the last idiot realizes, crypto on margin, its just Russian Roulette with a 5-bullet loaded gun. Fucking tards, fucked yet again by scammy chink fucks.

>>	Anonymous Tue Feb 23 13:46:13 2021 No.29497930 >>29496450 lmao that's fucking hilarious.

>>	Anonymous Tue Feb 23 13:46:48 2021 No.29497975 File: 67 KB, 624x594, image_2021-02-23_194645.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 23 13:48:42 2021 No.29498139 >>29495101 Last time that happened with ETH on kraken in 2017 they bailed everyone out of pocket and promised something like that would never happen again. Correct me if I'm wrong

>>	Anonymous Tue Feb 23 13:50:45 2021 No.29498293 >>29495101 sage

>>	Anonymous Tue Feb 23 13:51:29 2021 No.29498343 >>29497975 Sauce?

>>	Anonymous Tue Feb 23 13:51:30 2021 No.29498344 >>29492184 This happens from time to time, since the market is not rigged for the whales. It is doggy dog world.

Anonymous Tue Feb 23 13:56:48 2021 No.29498745

>>29497930
Yeah the auditors appointed by the liquidation team found that there were never any actual trades.
The guy took the money and bitcoins and made up returns. When people started asking for money back he went to India and disappeared but not before buying a bunch of expensive houses in his wife's name.

>>	Anonymous Tue Feb 23 13:57:26 2021 No.29498806 >>29493430 >people don't get liquidated if there is no movement >nexo blocks your path

>>	Anonymous Tue Feb 23 14:05:19 2021 No.29499451 >>29498343 >https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

>>	Anonymous Tue Feb 23 14:07:04 2021 No.29499582 >>29492184 This was just a big overleveraged long hunting combined with the overall market correction in stocks etc.

>>	Anonymous Tue Feb 23 14:08:23 2021 No.29499676 >>29497185 >Turn off computer >Turn 360 degrees and walk away

Anonymous Tue Feb 23 14:08:52 2021 No.29499730

>>29497930
>>29498745
>"According to Jennifer Robertson, Cotten's widow, he died on 9 December 2018 while travelling in India. She had accompanied him to a hospital in Jaipur the previous day and he was diagnosed with septic shock, perforation, peritonitis, and intestinal obstruction. On the 9th he died after episodes of cardiac arrest."
My man couldn't poo in the loo

>>	Anonymous Tue Feb 23 14:10:45 2021 No.29499900 >>29499676 >360 degrees anon I...

>>	Anonymous Tue Feb 23 14:12:35 2021 No.29500063 >>29499900 Anon I...

>>	Anonymous Tue Feb 23 14:19:01 2021 No.29500619 File: 222 KB, 600x598, 1613671938888.png [View same] [iqdb] [saucenao] [google] >>29499900

>>	Anonymous Tue Feb 23 14:20:10 2021 No.29500715 >>29499451 so literally nothing? some boomer who doesn't know how bank floats work?

>>	Anonymous Tue Feb 23 14:22:02 2021 No.29500879 >>29492631 You have to go back.

>>	Anonymous Tue Feb 23 14:37:44 2021 No.29502184 >>29497975 this look BAD. what do you think /biz/?

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