BitMEX co-founder Arthur Hayes posted on social media platform that there are market rumors that large centralized exchanges (CEX) automatically liquidated cross-margin positions related collateral, which is the reason why many altcoins suffered greatly during this downturn. Congratulations to all the "bottom fishing warriors" - for many high-quality altcoins, we may never see prices at this level again in the short term.
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Arthur Hayes: Large CEXs’ automatic forced liquidation of cross-margin position-related collateral is the reason for the sharp drop in altcoins
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