You can’t make this up: Bitcoin just surged +$3,000 in 1 hour and reclaimed $90,000 as $120 million worth of levered shorts were liquidated. Minutes later, $200 million worth of levered longs were liquidated, with Bitcoin now down to $86,000. That’s a $140 BILLION swing in market cap in under 2 hours. Leverage is out of control.(The Kobeissi Letter)