people quoting that binance tick from last night know its the less liquid tether collateralized future right? the normal (inverse) ones did just fine
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The tether margined perps do 4-5x the volume of the btc margined perps.
I *believe* the reason the spike only happened in tether margined perps was 1. higher leverage there 2. shorts get their ass kicked more in linears, since in the inverse your collateral rises in value when the price spikes, which doesn’t happen in linears
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Similarly leveraged longs get their asses kicked in inverse since the collateral falls in value at the same time as you’re taking losses on the futures
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Or somebody was urgently trading out of tether.https://www.bloomberg.com/news/articles/2021-07-26/tether-executives-said-to-face-criminal-probe-into-bank-fraud …
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If that was the case we would see a divergence between BTC/USDT and BTC/USD spot markets, which we don't
End of conversation
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