X @Mayne

RT Breakout (@breakoutprop)$2 billion in liquidations in 24 hours.Here's what actually happens mechanically when that occurs:A liquidation is a forced market order.The exchange closes your position because you can't meet margin.You don't choose the price. You don't choose the timing. You're a market order now.That forced selling hits the order book. But during a crash, the book is thin. Market makers pull quotes to avoid taking on inventory they can't manage.So those forced market orders are eating through ...