One Year Ago Tomorrow, Crypto Lost $19 Billion in Under 24 Hours. Here's What Changed.
October 10, 2025. A single social media post about 100% tariffs on Chinese imports hit a market already stacked with record leverage.
The numbers from that day, per Coinglass data:
đ„ About $19 billion in leveraged positions liquidated, the largest event in crypto history
đ„ Over 1.6 million trading accounts wiped out
đ $BTC down roughly 14.5% from its pre-announcement level
⥠$6.93 billion liquidated in just 40 minutes
Why it spread so fast: cross margin. One collateral pool backed many positions at once, so a loss on one trade shrank the collateral for all the others and triggered liquidations across the portfolio.
A year later, people still argue about who deserves the blame. Some point to the macro shock and thin liquidity, which was also the explanation Binance gave in its own report. Others argue that specific exchange design choices turned a bad day into a historic one. Neither side has settled it.
This week's selloff gives a useful comparison. When $BTC broke below $84,000, liquidations reached roughly $550-700 million depending on the tracker, under 4% of what 10/10 wiped out. Leveraged longs still absorbed most of the damage.
The lesson most traders took from 10/10 is simple: leverage doesn't punish you slowly, it punishes you all at once.
A year later, do you trade with less leverage than before 10/10, or has nothing really changed? đ
#Bitcoin #BTC #Liquidations #CryptoNews #Zyverra
October 10, 2025. A single social media post about 100% tariffs on Chinese imports hit a market already stacked with record leverage.
The numbers from that day, per Coinglass data:
đ„ About $19 billion in leveraged positions liquidated, the largest event in crypto history
đ„ Over 1.6 million trading accounts wiped out
đ $BTC down roughly 14.5% from its pre-announcement level
⥠$6.93 billion liquidated in just 40 minutes
Why it spread so fast: cross margin. One collateral pool backed many positions at once, so a loss on one trade shrank the collateral for all the others and triggered liquidations across the portfolio.
A year later, people still argue about who deserves the blame. Some point to the macro shock and thin liquidity, which was also the explanation Binance gave in its own report. Others argue that specific exchange design choices turned a bad day into a historic one. Neither side has settled it.
This week's selloff gives a useful comparison. When $BTC broke below $84,000, liquidations reached roughly $550-700 million depending on the tracker, under 4% of what 10/10 wiped out. Leveraged longs still absorbed most of the damage.
The lesson most traders took from 10/10 is simple: leverage doesn't punish you slowly, it punishes you all at once.
A year later, do you trade with less leverage than before 10/10, or has nothing really changed? đ
#Bitcoin #BTC #Liquidations #CryptoNews #Zyverra