🔴 BitMEX is shutting down for good.
The exchange that invented 100x leverage perpetual swaps is closing after 11 years. New positions get cut off Aug 26, full shutdown hits Sept 23, 2026. If you've got funds there, withdraw now — late withdrawals get hit with fees.
It follows Bit.com's shutdown earlier this year. Weak volume, dying revenue, traders moving to Binance and Hyperliquid — classic signs of a platform that's already been dying for a while.
Why this matters for the market: exchange shutdowns tend to cluster near the end of a downturn, not the start of one. Weak platforms and overleveraged positions get flushed out, clearing the way for the next leg up. Not a guarantee — some closures (like FTX) hit mid-collapse, not at the bottom — but worth watching alongside price action.
$BTC $ETH #BitMEX #Crypto #Bitcoin #MarketBottom #CryptoNews
The exchange that invented 100x leverage perpetual swaps is closing after 11 years. New positions get cut off Aug 26, full shutdown hits Sept 23, 2026. If you've got funds there, withdraw now — late withdrawals get hit with fees.
It follows Bit.com's shutdown earlier this year. Weak volume, dying revenue, traders moving to Binance and Hyperliquid — classic signs of a platform that's already been dying for a while.
Why this matters for the market: exchange shutdowns tend to cluster near the end of a downturn, not the start of one. Weak platforms and overleveraged positions get flushed out, clearing the way for the next leg up. Not a guarantee — some closures (like FTX) hit mid-collapse, not at the bottom — but worth watching alongside price action.
$BTC $ETH #BitMEX #Crypto #Bitcoin #MarketBottom #CryptoNews