Wall StreetCrypto traders lost $51.6 million on chips Saturday.
Weekend prices came from crypto traders reacting to each other, because no share market was open.
CoinGlass data show leveraged positions were force-closed when losses exceeded deposits, and the forced selling pushed prices lower.
Quotes return when US markets open Monday, showing how far Saturday’s prices strayed from real share prices.
How each outlet framed it
- CoinDesk
- explains why weekend perp prices become Monday's benchmark, and traces the first large sell orders to Binance at 21:21:59 UTC
Sources: CoinDesk