Post #2840

These wicks weren’t meant to liquidate futures, they were meant to steal SPOT portfolios. 1- ATOM on Binance Spot: wick to 0. 2- On Binance Futures: wick to $1.46 3- ATOM on any other exchange: both spot & futures only wicked around 1.46 And this isn’t just ATOM, $DOT went to $0.6 on Binance Spot, but $0.9 on Futures. $API3 dumped to $0.16 on Binance, while other exchanges stopped around $0.48. $APT nuked to $0.7 on Binance, but stayed near $1.8 elsewhere. Many more coins as well... Now here’s where it gets dark — Binance offers a Margin feature, allowing users to borrow cash. This same system took OI from $57B in the last bull run (at $3T MC) to $250B today with just a $4T MC. Do you really think Binance has $100B lying around to lend out? IMO this entire crash looks like a massive settlement play not just manipulation. Defense is - despite high volume on Binance, altcoin order books are thin, few bids/asks. So big sellers easily push prices down, creating deep wicks. Other exchanges have better liquidity, so wicks are smaller. Complete bullshit. This was intentional. The rest was handled by the liquidation cascade.