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No. of Recommendations: 2
In the last 24 hours, over 1 M leveraged traders were liquidated in Bitcoin. It all started with one $64 M account liquidating, triggering price spike down and in turn triggering lot of leveraged accounts getting liquidated for a total value of $1 B.

In terms of financial impact, this is a minor stuff. But the staggering number of folks who had leveraged ownership is stunning. In general, whenever Bitcoin declines I have seen market goes into short-term decline and increased volatility. This may not result in any significant decline. May be SPY gets back to $385. Those who do Buy the Dip, get ready with your shopping list.
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