Potential explanation for this week’s selloffDean 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 ...

Imagine explaining this to 16th century working hand parent of 32Dean 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 ...

Market Trends - Crypto trading volumes are shifting from centralized exchanges to DeFi and regulated markets [1] - Regulated markets include IBIT options and CME futures [1] Key Players - Deribit has historically been the dominant venue in crypto [1]