According to @CryptoMichNL, Black Friday triggered an enormous wave of liquidations across altcoins, with many tokens reportedly down about 90% during the move, highlighting severe market stress for traders (source: @CryptoMichNL on X, Nov 19, 2025). The author states he published a long-form note detailing how risk was managed during and after the event in collaboration with MNFund_, and provided the link for further reading (source: @CryptoMichNL on X, Nov 19, 2025). The trading takeaway presented by the author is a focus on risk controls tailored to extreme drawdowns following the Black Friday selloff, directing readers to the linked analysis for specific methods (source: @CryptoMichNL on X, Nov 19, 2025).