This is the reality of leveraged trading. If you've put up your crypto as collateral on a loan, which you used to buy more crypto (defi), and the price of the

This is the reality of leveraged trading. If you've put up your crypto as collateral on a loan, which you used to buy more crypto (defi), and the price of the asset backing your loan drops below threshold it gets auto liquidated by the holder and your loan is cancelled out. It is automated in all cases with triggers and varying thresholds. Majority of these are 75-85% ratio which means if btc dips 15-25%, all of those providers liquidate the asset to cover. Btc has also been holding at 60k for a while while alts are enjoying a rally as they tend to do when everyone leverages their btc gains via the aforementioned to buy into alts. I'm surprised it didn't crash further but I guess the defi bubble wasn't as big.