Market Analysis & Risk Assessment - The crypto market experienced a significant downturn, with some altcoins, including $BONK, plummeting by 70-90% within 10 minutes [1] - A substantial price dislocation occurred between perpetual futures (perps) and spot pricing, particularly on Asian centralized exchanges (CEXes) like Binance and Bybit, with HyperliquidX experiencing even lower pricing than most [1] - The event led to liquidations, even for positions with low leverage, highlighting the inherent risks of leverage in crypto trading [1] Exchange & Platform Performance - HyperliquidX experienced a $BONK price drop to below $0.004, while Coinbase never went below $0.012 (equivalent), indicating a 4x delta between perps and spot pricing [1] - Binance and Lighter_xyz are reportedly addressing discrepancies with users following the market event, but it's unclear if HyperliquidX is doing the same [1] Investment Strategy & Outlook - Despite losses, the individual maintains a bullish outlook on $BONK and intends to continue investing and working towards new all-time highs [1] - The individual's portfolio primarily consists of spot holdings, mitigating the overall impact of liquidation losses [1]
X @Unipcs (aka 'Bonk Guy') 🎒
Unipcs (aka 'Bonk Guy') 🎒·2025-10-13 21:36