This is the best explanation I’ve seen so far. From nostr:nprofile1qqs98tsn0quzfgud5edtw3fcp8l690kctvp2s8803tlq5evdffstl7gprpmhxue69uhkummnw3ezuum9d45hxmmv9ejx2a30qythwumn8ghj7mn0wd68ytnxd46zuamf0gh...
Leverage tends to build up at certain levels & then liquidations cascade as they unwind.
Leverage in the system incentivises liquidity hunting.
Leverage in the system incentivises liquidity hunting.
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