BTC crashed to $61,300 before recovering to $62,500 with $3 billion in liquidations over two days. Traders loaded up on $60,000 puts in anticipation of further declines. Bitcoin plunged to $61,300 before recovering to around $62,500, contributing to $3 billion in liquidations over two days as open interest fell 8.5% to $111.4 billion. Derivatives markets are firmly in bear territory. Put skews have strengthened on both bitcoin and ether and the $60,000 strike put on Deribit carries over $1 bill…
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