X @Xeer

So you're telling me, even large non crypto entities believe in 'making it all back in one trade?'Dean Eigenmann (@DeanEigenmann):was sent a pretty in-depth report on what's driving the crypto unwind. the short version: a large non-crypto entity likely based in HK was running JPY carry trade funding into leveraged IBIT options + Binance positions + precious metals. Oct 10 blew a hole in the balance sheet ...