Leverage

Anatomy of the Nov. 21 BTC Flash Crash: How Hyperliquid Triggered a Leverage Cascade – cover image
Anatomy of the Nov. 21 BTC Flash Crash: How Hyperliquid Triggered a Leverage Cascade

A minute-level forensic of the Nov. 21 Bitcoin flash crash that plunged BTC into the low $80ks on Hyperliquid and cascaded liquidations across venues. Actionable risk-management steps for traders and exchanges to prevent repeat disasters.