10.11: A memoir of the great liquidation—how many people saw their bull market dreams shattered that night?
Do you remember October 11 last year?
To be precise, the storm began on October 10.
One moment, we were imagining the bull market taking off again. The next, the entire market had turned upside down.
BTC plunged, altcoins sank across the board, longs and shorts alike were wiped out, and countless accounts were liquidated.
According to public reports, this historic market crash liquidated more than $19 billion worth of leveraged positions in a short period, making it one of the most devastating liquidation events in crypto market history.
Some were back to square one overnight. Others watched their unrealized gains vanish before their eyes. And some never even got the chance to stop their losses.
The hardest part wasn’t how much money you lost.
It was thinking just the day before that you could ride the bull market, only to realize the next day that the market wouldn’t give you time to react.
I think that night gave many people a new understanding of leverage.
You can miss a market move. There will be other opportunities.
But once your principal is gone, it can take a very long time to recover.
A year later, looking back at 10.11, I finally understand:
In this market, staying in the game matters more than making money fast.
Don’t always dream of getting rich overnight.
The real skill is making it through bull and bear markets—and surviving when the market turns extreme.
To everyone who lived through that night, are you still in the market?
How did you get through your 10.11?
Do you remember October 11 last year?
To be precise, the storm began on October 10.
One moment, we were imagining the bull market taking off again. The next, the entire market had turned upside down.
BTC plunged, altcoins sank across the board, longs and shorts alike were wiped out, and countless accounts were liquidated.
According to public reports, this historic market crash liquidated more than $19 billion worth of leveraged positions in a short period, making it one of the most devastating liquidation events in crypto market history.
Some were back to square one overnight. Others watched their unrealized gains vanish before their eyes. And some never even got the chance to stop their losses.
The hardest part wasn’t how much money you lost.
It was thinking just the day before that you could ride the bull market, only to realize the next day that the market wouldn’t give you time to react.
I think that night gave many people a new understanding of leverage.
You can miss a market move. There will be other opportunities.
But once your principal is gone, it can take a very long time to recover.
A year later, looking back at 10.11, I finally understand:
In this market, staying in the game matters more than making money fast.
Don’t always dream of getting rich overnight.
The real skill is making it through bull and bear markets—and surviving when the market turns extreme.
To everyone who lived through that night, are you still in the market?
How did you get through your 10.11?