Friday Night Frights
Dec 5, 2021
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We are writing to update our clients on the events of this past weekend and highlight a few data points we will be keeping an eye on moving forward into the next couple of weeks. On Friday, December 3rd, over $2 billion in long positions across the global crypto market were liquidated, nearly $850 million of which were from BTC futures.Almost $500 billion in total market value was wiped from the global crypto market cap, as Bitcoin fell over 20% from $57k to a low of approximately $45k (Source: CoinMarketCap). The rest of the crypto universe essentially followed suit. We...