Hi HODLers, Hiveans and Lions,
What a wild time we are living in. First of all I would like to share my thoughts and prayers to all the people affected by the current escalation in the middle-east.
The dip occurred as stock markets sank during the U.S trading session amid rising fears of broadening conflict in the Middle East.
In addition, yesterday, Iran sent hundreds of drones and rockets in a barrage aimed at putting pressure on Israel Defense system called "Iron Dome".
Reading through the statements from both countries and even the US. It seems this might be all (for now?) as it allows Iran to save face after their embassy in Syria was bombed earlier this year.
The drawdown triggered the largest leverage washout in a month, liquidating some $850 million of leveraged derivatives trading positions across all digital assets, CoinGlass data shows. Some $770 million of those positions were longs betting on rising prices, caught off-guard by the sudden decline.
My thoughts go towards other Crypto Investors that might have lost a lot. I have seen some people get liquidated for hundreds of thousands. Stay strong, you will be alright.
Stay safe out there,
