Bitcoin (BTC) touched the $8,000 level briefly, pushed down by a series of factors. While quarterly sell-offs are not out of the norm, this time, BTC was pushed down by a combination of negative events.
BitMex Liquidation: The BitMex liquidation late on Tuesday was one of the biggest in years. Price action triggered a series of liquidations on BitMex, for a total of $600 million in liquidated long positions. BitMex has not seen such a significant liquidation event since a glitch on Bitstamp caused price anomalies.
https://twitter.com/michael26821035/status/1176786599863914497
OKEx also lost most of its insurance fund in the latest futures liquidation event. The BitMex liquidation was probably the biggest liquidat...