Key notes
- The CoinGlass liquidation heatmap shows that $19.35 billion was liquidated from 1,666,361 traders.
- Bitcoin, Ethereum, Solana, and Ripple were affected, as their prices declined.
- Bitcoin price fell below $110,000, pulling most altcoins out.
In the past 24 hours, the broader cryptocurrency market saw 1,666,361 traders liquidate. Total liquidations currently stand at $19.35 billion, according to Coinglass data. This is the largest liquidation the digital asset sector has ever seen, and comes directly after a dramatic rebound in the market.
Donald Trump warns against imposing 100% tariffs on Chinese imports
On October 11, the cryptocurrency market recorded a liquidation About $19.35 billionwith long-term traders suffering huge losses.
Top digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and even memecoins have been affected by the situation. It is worth noting that the largest single liquidation order was seen on Hyperliquid with a value of $203.36 million.
Coincidentally, US President Donald Trump had previously hinted at imposing 100% tariffs on Chinese imports.
His social media post warning the public about the tariffs was met with mixed emotions and reactions, extending from the traditional finance sector (TradFi) to cryptocurrencies. There are major concerns that the United States and China may enter a new season in the trade war that began earlier this year.
The issue of the US government shutdown is another contributor to this unfortunate market condition. It has so far delayed the release of key economic data.
Bitcoin price fell below $110,000
The prices of most cryptocurrencies have dropped significantly, starting with the main one, Bitcoin.
This cryptocurrency fell below $110,000 following the downtrend before recovering slightly. According to CoinMarketCap data, Bitcoin price is currently at $111,845.05 with a 24-hour decline of 8.17%. This is a notable decline for a coin that reached a new all-time high (ATH) above $126,000, less than a week ago.
From a price level of more than $4,800, Ethereum is trading now At $3,829.24, a drop of 11.93% in 24 hours. Solana stock also witnessed a greater loss of 14.87%, bringing its price to $186.54. Binance Coin (BNB), which was the star of the season, posted a 10.54% loss over the same time to now trade at $1,125.58.
Given the way the market started this week, it is not surprising that long-term traders were the most affected. They clearly thought the positive momentum would continue, but they ended up being disappointed.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-life applications of blockchain technology and innovations to drive public acceptance and global integration of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to popular blockchain media and websites.
The post $19.35 Billion in 24 Hours, Largest Crypto Liquidation Event Recorded first appeared on Investorempires.com.
