Stunning five minutes! Binance and Wintermute join forces to crash the market?
Binance and market-making giant Wintermute jointly liquidated over 100 million USD in long positions in just five minutes!
Goodness, although such lightning-fast sell-offs are not uncommon in extreme market conditions, given the current sensitive period, it indeed sends chills down one’s spine. Many brothers probably have to tearfully top up their margin or are directly forced out of their positions.
However, that being said, whether this action was triggered by risk control or was a premeditated harvesting is still hard to say. But what can be confirmed is that the tighter the market liquidity, the greater the impact of large institutions' instantaneous operations on the market. In the future, when encountering sudden rises and falls, we really have to first see if there are whales engaging in “collective activities.”
Lastly, a reminder to brothers trading contracts: recently, you must control your positions well and set your stop losses. Don’t wait until your account is liquidated to remember how to write the words for risk control. The market is always full of opportunities, but once the principal is gone, you really have nothing left.
