Liquidation Cascade - 23.09.2025 Was the $1.7B Crash a Final Shakeout or a Warning?

This episode unpacks the market meltdown after the Fed’s 25bp cut and hawkish guidance, a massive options expiry, and a $1.7B liquidation cascade — with altcoin leverage still at 36% and key Bitcoin support at $108K and $104K. We weigh the bullish Q4 case (seasonality, ETF adoption, institutional flows) against the risk of a deeper flush toward the low 30s in open interest.

We also spotlight the breakout sector: decentralized perpetual exchanges like Aster and competitors, plus upcoming entrants such as LiDAR, and discuss what growing institutional activity and new infrastructure mean for the market. The takeaway: patience, risk management, and watch the leverage and macro data (especially PCE).

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