I am once again asking you to simply buy spot BTC instead of apeing into futures.
Good luck gents
We will see if this time is different...
Time for your favorite Simpsons character.
Just a 35k BTC increase in open interest exactly in tandem with the pump.
Some people just enjoy burning money lol
It was basically because of the Binance USDT perpetual futures. So many people were shorting BTC with USDT collateral, and this is the chart of the rate they were paying every 8 (!!) hours to do it
They got liq'd
This post is based on this twitter thread.