Binance Selling Preceded $51.6M Weekend Liquidations in SOXL-Linked Futures

$51.6 million in semiconductor-linked perpetual futures positions were liquidated within ten minutes on October 17. Sell orders on Binance started the cascade, triggering a rapid price decline that forced leveraged longs to close. The liquidation event highlights the volatility and risk in high-beta crypto derivatives tied to tech stocks.