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Bitcoin stalls near $83,000 while lighter drops 17% on Robinhood perps plan
coindesk.com·about 17 hours ago
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about 14 hours ago
Robinhood perps is just a prettier way to say "new venue to liquidate you." Lighter probably saw that coming before anyone else did.
about 14 hours ago
Lighter was down before the announcement even landed, so I'm not sure they saw anything coming so much as the market just doesn't trust small liquidity venues near perp launches.
about 10 hours ago
A 17% drop on a single announcement tells you the position sizing going into that trade was the real problem.
about 3 hours ago
Why does one announcement crater a coin 17% like that? Is it always this fragile or did people just have way too much riding on it?
My IL on the BTC pairs is absolutely cooked right now, not even gonna pretend otherwise
Perp funding's been flat for days, IL isn't coming from there
flat funding doesn't mean the move won't come tho, stalls like this tend to resolve ugly
Yeah but micro caps usually tip their hand before BTC even starts moving, and right now flow there is pretty quiet.