The $20B Liquidation That Just Shattered Crypto’s Pumptober Dreams—And Why This Wasn’t Just Bad Luck
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The cryptocurrency market just experienced what traders are calling the worst liquidation event in history—a flash crash so severe it made the FTX collapse look tame by comparison, wiping out over $20 billion in leveraged positions and leaving retail investors questioning whether the house was rigged against them from the start.
Bitcoin plummeted $10,000 in minutes during trading hours on Oct. 10, while altcoins suffered catastrophic losses ranging from 50% to 75%. For context, while a $10,000 drop represents less than 10% when Bitcoin trades at $125,000, the crucial factor was the speed—dropping over 5% in less than 10…
