Crypto traders lost more than $1 billion to forced liquidations in 24 hours as Bitcoin dropped to $80,393 on Thursday. About $930 million came from bets that prices would rise, CoinGlass data shows.

The sell-off lands two days before the anniversary of October 10, 2025, when a crash wiped out about $19 billion in trades. Bitcoin peaked near $126,200 that week and has not returned since.

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A liquidation happens when an exchange force-closes a trade funded with borrowed money after losses eat the trader’s deposit. Each forced sale can trigger the next.

Thursday’s wave was the largest long-side wipeout in 90 days on CoinGlass. More than $600 million was…