After an agonizing 35% loss in the past 24-hours, Bitcoin (BTC) finally bounced at $30,000 earlier today in the May 19 trading session. A total of $3.5 billion in liquidations took place, which might have accelerated the movement, but they can't really be entirely blamed for the move. However, the weakness in derivatives markets did give some strong signals that panic was instilled, causing unsustainable levels. These can be measured by the price gap between the futures markets and regular spot exchanges, along with the negative funding rate on perpetual contracts. {chart} Multiple culprits catalyzed the drop, ... (full story)