Crypto Market Loses Over $19 Billion in Single Day

The crypto market experienced its largest forced sell-off on record when over $19 billion in leveraged positions were wiped out across major exchanges on Oct. 10, 2025.

This event was triggered by President Trump's announcement of a 100% tariff on Chinese imports, causing equities and commodities to sell off and crypto to become the pressure point.

The majority of the $19 billion in liquidations were long positions, with about $16.7 billion being erased across 1.6 million traders.

In the aftermath, total perpetual futures open interest across major exchanges collapsed 43% in a day, from $217 billion to $123 billion.