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[Revelation] Why the Cryptocurrency Market Stuck in the Cold Conclusion: "Cleanup from the Binance Shock on October 10th" That day, the API at the world's largest exchange went down, and liquidity evaporated. To prevent prices from falling to zero, some powerful exchanges and market makers "braced themselves" to catch the falling knife.

Raoul Pal
@RaoulGMI
12-19
When I distill down October 10th, I get to this... Binance broke ( the worlds largest exchange). The API's shut down for market makers. Everyone got liquidated. Most market makers were not able to backstop liquidity. It spread across exchanges. Those exchanges that have their
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