Bitcoin bloodbath 📉

Friday marked the worst day ever for crypto liquidations, with over $19 billion worth as Bitcoin and other top assets plunged following Trump's China threats.

Author

Andrew Hayward
October 11, 2025

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📝 What you need to know

Crypto markets had an absolutely brutal day on Friday after President Trump threatened “massive” new tariffs on China. Bitcoin dropped from over $121,000 to below $106,000, but altcoins got hammered even harder—Ethereum fell from $4,300 to under $3,600, and coins like Dogecoin and Cardano briefly showed drops of 40% in a single day.

The real story though? This triggered the biggest liquidation event in crypto history—over $19 billion worth of positions got wiped out in 24 hours, per CoinGlass, with most being long bets that prices would go up. For context, the FTX collapse in 2022 caused about $1.6 billion in liquidations, and COVID in 2020 saw around $1.2 billion worth. This was more than 10 times bigger than either of those.

While prices have bounced back a bit since hitting bottom, everything's still way down. Bitcoin is currently sitting below the $112K mark, while Ethereum is just above $3,800 and Dogecoin shows a 20% plunge over the last day. So much for Uptober, eh?

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