CryptoQuant_FA2021-09-07

FUTURES MARKET-DRIVEN CRASH

Looking at the All Exchanges' Netflow, we can't see any significant inflow/sell pressure from the spot market. On the other hand, the volume of Long Liquidation in less than 1 hour can confirm that this price fluctuation was majorly Futures Market-driven. Considering the massive drop in the Open Interest, it's expected that a substantial number of high-leverage positions (attributed to inexperienced players) are flushed from the market.