Inside The $19B Market Meltdown
14 June 2022, Baden-Wuerttemberg, Rottweil: The candlestick chart of the cryptocurrency Terra Luna with the sell-off is seen on the screen of a computer in an office. (Shot with zoom effect). Photo by Silas Stein/picture alliance via Getty Images
dpa/picture alliance via Getty Images
On October 10, the crypto market endured its largest liquidation in history. In under 24 hours, over $19 billion in leveraged positions vanished. This affected 1.6 million traders and erased nearly $800 billion in market cap. Bitcoin alone printed an unprecedented $20,000 daily candle, sliding about 10% and briefly dipping below $110,000. Most altcoins fell 30–60%. Prices have since partially recovered, with bitcoin now trading near $115,000 — but the…
