It wasn’t narrative but market structure that drove yesterday’s big move down.

This episode is sponsored by Nexo.io.

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In this episode of “The Breakdown,” NLW looks at the market structure dimension of the crypto crash, leveraging insights from Alameda Research, Willy Woo and many more. He explores:

  • Why the recent bull run was driven by derivatives more than by spot trading
  • How crypto moving onto exchanges signaled the big move down
  • How cascading liquidations made the down moves even more extreme
  • What the industry thinks about 100x leverage
  • Insider reports on how institutional investors responded

See also: Bitcoin Back to $42K, Nearly Recovering All of Wednesday’s Losses

Image credit: Andrey Suslov/iStock/Getty Images Plus