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Market Meltdown, Altcoin Carnage, & Crypto's Next Chapter

35 snips
Oct 13, 2025
Guest
Avi Felman
Avi Felman, a crypto commentator and host, joins to discuss the recent market turmoil. They dive into the chaos triggered by a Trump tweet and the resulting cascading liquidations. Avi explains the contrast between Bitcoin's resilience and the fragility of altcoins, highlighting institutional flows. The conversation touches on macroeconomic impacts, including tariffs and earnings sensitivity, and explores how shifts in market dynamics may be changing the crypto landscape. They also consider whether recent events signal an opportunity for a rebound in altcoins.
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ANECDOTE

Surprised By Flash Cascades

  • Avi Felman describes waking up to massive TradingView wicks and cascading liquidations that felt surreal.
  • He yelled at his phone trying to get back to his computer as the market plunged violently.
INSIGHT

Liquidity Vacuum, Not A Fundamental Run

  • The crash was largely technical: a liquidity vacuum caused rapid liquidations rather than a structural solvency event.
  • Delta-neutral market makers' longs were liquidated then forced to sell shorts, amplifying the cascade.
INSIGHT

Market Maker Structure Limited Damage

  • Market makers are usually delta neutral and don't hold massive outright long inventories to sell into crashes.
  • That dynamic prevented a prolonged bleed like Luna, making this event technical and shorter-lived.
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