Crypto Market Cleanup
A surprise 100% tariff announcement from President Trump triggered over $19 billion in liquidations, the largest leveraged wipeout in crypto history.
Investors are still in profit, meaning full capitulation and emotional reset haven’t occurred. Global crypto markets saw their largest leveraged wipeout on record on the 10th and 11th of October.
- Over $19 billion in positions liquidated
- Surprise tariff announcement from President Donald Trump
- A well-timed short by a major crypto whale
The sudden crash wiped out weeks of speculative gains in both Bitcoin [BTC] and altcoins.
The community remains unsure if the market has cleared out all the excess leverage or if more downside is still to come.
In less than 24 hours, the markets witnessed an unprecedented liquidation cascade, with more than $19 billion in leveraged positions erased.
Author's summary: Crypto market faces uncertainty after $19B cleanup.
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