According to BitMEX, the recent crash between October 10 and 11 resulted in losses of approximately 20 billion USD, marking a significant shift in trading dynamics.
Delta-neutral strategies suffered due to a circle of forced auto-liquidations, prompting market makers to withdraw liquidity, leading to the thinnest trading volumes observed since 2022.
BitMEX noted a transition of trading volumes towards decentralized exchanges, but cautioned that such moves may increase the risk of manipulation, especially with emerging unpredictable market trends.
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