If we had days like today a couple months ago, you'd easily see liquidations over $1bn.
Right now about $400m*. Why? Surprisingly not a huge amount of leverage.
*data feeds for liquidations have changed, some discrepancy in the numbers
Anyone shocked at this Celsius news is lying to themselves.
BlockFi has been getting random yield from different areas for a while, not hard to imagine that Celsius, Nexo etc aren’t doing the same.
They’ll probably just swallow the loss.
As usual ETF flows are juxtaposed to news flow, taking in $5b/day for the past 5 days and showing absolutely no concern for the little bit of selling/vol as the trading crowd, Big Long advisors and retail dip buyers continue putting money into stocks.
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