@yq_acc Fantastic read. To be honest if no structural change to MM this will bound to happen again. Quick fix would be all the perp dex to educate people on this.

@jin_devilfruits True

@yq_acc amazing read, thanks for educating us on market making and the flaws within our current system. so there's nothing that will prevent this from happening again unless there's regulation in place, right?

@WittyChartGuy Better incentives to keep liquidity stay during market turbulence.

@yq_acc Really enjoyed this series YQ! 👏🏽 But this event does bring to light a stark reality that right now, MMs hold a lot of power in this space… Without them we’re essentially f**ked and with them we’re at their mercy until the next major event.

@NFTFlow_ Bingo. We’re in the dilemma now.

@yq_acc great read 🙏

@christyhwchoi Ty

@yq_acc thank you sooo much for sharing, learning a lot!!

@shu_bit_ Ty

@yq_acc Great read! Hard to enforce MM responsibilities without some kind of regulatory framework

@NoriHira_Web3 One angle is this, but need more incentives

@yq_acc Why a 98% liquidity collapse when past tariff threats didn’t? Article mentions “synchronized withdrawal across multiple firms” and "a 20-40 minute warning period" hinting at coordination...

@yq_acc really great and useful analysis, but I saw two main problems: - why MM should provide liquidity even when the market is so skewed to the long side, and it could crash? What kind of incentive can cover their losses? - altcoins, the liquidity vacuum exposed the true (and sad)

@yq_acc this might just be my favorite breakdowns, truly the October 2025 liquidity crisis proved voluntary liquidity fails when it’s needed most, but i'm still curious, what’s the right balance between free markets and structural stability?

@yq_acc Love the series. I’d love to hear your theory next - maybe not point fingers, but the groups and roles involved and how they colluded, orchestrated, and sequence of events when each player was activated. We also don’t know the role of the btc whale who shorted. Was he part of

@yq_acc Always thx for detailed analysis. what do you think why MMs played kinda differently this time compared to prior crisis events?

@yq_acc Net selling pressure ate nearly all the bid liquidity before the last leg down The question comes down to whether they should’ve re-quoted or not as those books laid empty minutes before the final cascade

@yq_acc You just disappointed all those wanting to blame Trump for their life savings being nuked

@yq_acc Great thread. Thanks mate. Not quite over yet I fear. No higher low at 107/8, not sure where we go.

@yq_acc the tldr is it's wintermutes fault

@yq_acc Is this fundamentally any different than stonks mate 🤷‍♂️

@yq_acc Good stuff TLDR sometimes the best fix is to turn it off and turn it back on

@yq_acc @PhyloIota Good thing I was buying 😝🔥

@yq_acc nice read. which coinwatch is the graph from?

@yq_acc Excellent read

@yq_acc How does MMs do coordinated removal?

@yq_acc Impressive

@yq_acc Fire

@yq_acc Accurate? @leviathansee

@yq_acc Brilliant breakdown! how do I build an AI that predicts withdrawals?

@yq_acc great work

@yq_acc must-read

@yq_acc gud stuff sir

@yq_acc banger