A $20 billion leveraged liquidation in the crypto market leads to a sharp reduction in open interest, causing a historic sell-off. President Trump’s tweet about tariffs on Chinese imports triggers the flash crash, with Bitcoin struggling to trade above $110,000. Liquidation heatmap data shows potential exploitation of long positions.

Cointelegraph’s Ray Salmond explains how Bitcoin and altcoins are ripe for exploitation in the crypto market sell-off. Aggregate orderbook data for Bitcoin reveals a discount in trading price. Global open interest across all cryptocurrencies (excluding BTC and ETH) sees a 45% reduction. Soft selling expected until CME futures markets open.

The market anticipates extended price downside as Bitcoin struggles to trade above $110,000. CEX and DEX open interest, excluding BTC and Ether, take a hit. The weekend shows continued market weakness, with futures markets set to provide insight into the current situation. Traders await signals on the market’s future direction.

Read more at Cointelegraph: Bitcoin, Altcoin Selling Not Done Yet, Data Proves It