@elonmusk will there ever be Cybertruck an 8 seater for people who have a lot of kids and want something safe and bulletproof to protect my 4 kids from the crazy road rage of dumb ppl shooting in vehicles and killing little kids... i would rather stay with tesla than go to a mini van :(..
The chart below shows market order bubbles over 25k USD
This proves the points above. The spot market was barely selling ANYTHING in comparison to the perp market.
So, this wasn't a team sell-off. This was a perp-driven nuke with forced unwinds and panic cascading into spot
As prices neared $5, the buy side of the book became VERY thin, which couldn't absorb the selling pressure.