Arthur Hayes: The automatic liquidation of cross-margin positions associated with collateral by large CEXs is the reason for the recent crash of altcoins

ChainCatcher news, BitMEX co-founder Arthur Hayes stated that the automatic liquidation of cross-margin positions associated with collateral by large centralized exchanges (CEX) is the reason for the significant decline of many altcoins in this round of price downturn. He mentioned that "when limit orders are not smooth, liquidation operates normally," and indicated that several high-quality altcoins are unlikely to return to their previous lows in the short term.