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Black Wednesday

May 19, 2021 · 2 min read

By Ashwath Balakrishnan, and Jeremy Ong

Data Digest

Over $2 billion of BTC exposure liquidated today Deribit futures trade at -75% basis Gas hits 1700 gwei BTC exchange inflows at highest level since March 2020

Key Takeaways

May hasn’t been kind to BTC bulls, but today was by far the worst day for the market since March 2020. Over $2 billion in BTC positions — longs and shorts — were liquidated amidst today’s choppy market. Over $10 billion were liquidated across crypto perps and futures.

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