According to Adrian (@adriannewman21), crypto faces the risk of a liquidation event larger than the FTX episode, indicating heightened vulnerability to a broader liquidation cascade and drawdowns across the market, source: Adrian (@adriannewman21), X, Oct 18, 2025. Adrian adds that systemic risk is higher than in previous cycles due to persistent centralization and unprofessional practices at key industry players even after FTX, which raises counterparty and operational risk for traders, source: Adrian (@adriannewman21), X, Oct 18, 2025. He further warns that the DATs meta is ending, and these vehicles may need to sell underlying assets to repay instrument holders, increasing forced selling pressure and spot supply, source: Adrian (@adriannewman21), X, Oct 18, 2025. Overall, this signals elevated downside and liquidity risk for crypto relative to other risk assets in the near term, source: Adrian (@adriannewman21), X, Oct 18, 2025.

According to the source, a large crypto derivatives liquidation cascade hit the market, prompting forced unwinds across major venues and sharp deleveraging in BTC and ETH futures (sources: CoinGlass liquidation dashboard; Binance Research Derivatives Insights 2023). Historically, on the biggest deleveraging days, BTC and ETH open interest drop by roughly 20–30% in 24 hours while funding rates turn negative for multiple sessions, indicating capitulation and a cleaner market structure for mean reversion trades (sources: CoinGlass open interest and funding dashboards; Glassnode Week On-Chain reports 2022–2024). Spot-futures basis often inverts or compresses materially, enabling short-basis or neutral cash-and-carry opportunities until premiums normalize (sources: CME CF Benchmarks basis data; Kaiko derivatives market structure studies 2023). Options implied volatility typically spikes across BTC and ETH tenors, favoring long-volatility or gamma scalping tactics into peak IV with risk managed via term structure and skew signals (sources: Deribit Insights volatility reports; Amberdata options analytics 2023). Confirmation for re-entry includes stabilizing open interest, funding reverting toward neutral, narrowing bid-ask spreads, and recovering market depth at top-of-book (sources: Kaiko market depth metrics; Binance Research liquidity studies 2023).

According to @JKronbichler, the market just experienced its largest liquidation event ever, revealing how fast delta-neutral trades can unravel and threaten strategy-backed yields, source: @JKronbichler on X, Oct 13, 2025. He cautions that yield-bearing stablecoins backed by delta-neutral strategies could be affected as those trades unwind, source: @JKronbichler on X, Oct 13, 2025. He says cpUSD is being built to be uncorrelated to crypto markets by backing yield with real payment flows from stablecoin payments rather than trading strategies, and he tags CPOOL in this context, source: @JKronbichler on X, Oct 13, 2025. Trading takeaway per @JKronbichler is to reassess exposure to delta-neutral-backed yield stablecoins and to note cpUSD’s stated real-payment yield positioning and CPOOL tie-in, source: @JKronbichler on X, Oct 13, 2025.

According to @milesdeutscher, BNB made new highs just one day after what he described as the worst liquidation event in crypto history, highlighting immediate post-liquidation strength relevant to momentum traders; source: @milesdeutscher (X, Oct 13, 2025). He also called BNB "the most insane coin" as it printed fresh highs following the market-wide liquidations; source: @milesdeutscher (X, Oct 13, 2025).

According to @rovercrc, BNB hit a new all-time high immediately after what he calls the biggest crypto liquidation, indicating strong post-liquidation momentum and potential short-squeeze dynamics, source: @rovercrc. The post labels the move as incredible strength but does not provide specific price levels, liquidation totals, or exchange data to verify the claim, which limits independent confirmation and precise position sizing, source: @rovercrc. Trading takeaway: if following this signal, traders may look for confirmation via rising spot volume, sustained higher highs, and stable to positive funding on BNB perpetuals before entries, while using tight risk controls given headline-driven volatility, source: @rovercrc.

According to @KobeissiLetter, the October 10 move saw $19.5 billion in crypto liquidations and a $2.5 trillion equity market capitalization decline, underscoring how hyper-reactive 2025 markets have become; source: @KobeissiLetter on X, Oct 12, 2025. @KobeissiLetter adds that record leverage, FOMO-driven flows, and heavy algorithmic trading participation are amplifying volatility, allowing headlines and posts to move trillions of dollars within minutes; source: @KobeissiLetter on X, Oct 12, 2025. @KobeissiLetter emphasizes that remaining objective and capitalizing on emotional market swings is a key alpha driver for 2025 trading; source: @KobeissiLetter on X, Oct 12, 2025.

According to The Kobeissi Letter, BNB rose about 10% intraday and is now trading above the Oct 10, 4:00 PM ET high that preceded the recent crypto market liquidation, highlighting a decisive reclaim of a key reference level for momentum traders, source: The Kobeissi Letter on X, Oct 12, 2025. The author attributes the move to whale short positioning ahead of the liquidation and an apparent China–US misunderstanding; this characterization is the author's assessment and should be treated as commentary, source: The Kobeissi Letter on X, Oct 12, 2025. For trade structuring, the Oct 10, 4:00 PM ET high cited by the author serves as a clear pivot to monitor for confirmation and risk management given the stated reclaim, source: The Kobeissi Letter on X, Oct 12, 2025.

According to @KobeissiLetter, the October 10 market selloff tied to tariff headlines may have been driven by a misunderstanding between Donald Trump and Xi Jinping, source: @KobeissiLetter on X, Oct 12, 2025. According to @KobeissiLetter, China’s rare earth export control notice was released on October 9 at roughly 8:30 am ET, about 26 hours before Trump posted about it, and it was not treated as market-moving news until after Trump’s post, source: @KobeissiLetter on X, Oct 12, 2025. According to @KobeissiLetter, China later clarified that the new measures are not a full export ban and that applications meeting regulations will be approved, source: @KobeissiLetter on X, Oct 12, 2025. According to @KobeissiLetter, this clarification lowers the probability of a proposed 100% tariff on China going into effect to extremely low, source: @KobeissiLetter on X, Oct 12, 2025. According to @KobeissiLetter, the episode coincided with the largest crypto liquidation in history and a roughly $2.5 trillion loss in S&P 500 market cap, indicating headline risk rather than a fundamental policy shift drove the move, source: @KobeissiLetter on X, Oct 12, 2025.

According to @KobeissiLetter, crypto began selling at 9:30 AM ET on Oct 10, well before the 10:57 AM ET tariff post, while whales were already loading shorts in anticipation of a drop, source: @KobeissiLetter. A whale then bought over 23 million dollars of shorts at 4:30 PM ET and 4:49 PM ET, source: @KobeissiLetter. Longs were liquidated at a 7:1 ratio to shorts, and the source estimates that likely over 80 percent of the 1.6 million liquidated traders were levered long, source: @KobeissiLetter. Whales reportedly sold shorts into the 5:20 PM ET bottom about 30 minutes later as volume crushed longs, source: @KobeissiLetter. Trading volume produced the first ever 20,000 dollar BTC candlestick and a 380 billion dollar crypto market cap drop before a V-shaped bottom as shorts were closed, source: @KobeissiLetter. The event was described as the largest liquidation on record at nine times the previous record, source: @KobeissiLetter. For traders, the source highlights a pattern of whale shorts preceding mass long liquidations and a rapid reversal, underscoring timing risk during liquidity cascades, source: @KobeissiLetter.

According to @KobeissiLetter, amid a broader crypto crash yesterday, XRP’s market cap fell from $161 billion at 4:50 PM ET to $80 billion by 5:20 PM ET, a 50% decline in 30 minutes. According to @KobeissiLetter, the move was described as an unprecedented liquidation event. According to @KobeissiLetter, no cause was provided and the source asked what happened to XRP, indicating that a confirmed driver was not specified.

According to @KobeissiLetter, yesterday’s crypto liquidation triggered Bitcoin’s first-ever $20,000 daily swing, highlighting an extreme intraday range for BTC (source: @KobeissiLetter). According to @KobeissiLetter, BTC’s market cap fell by approximately $380 billion within about 8 hours during the move (source: @KobeissiLetter). According to @KobeissiLetter, the $380 billion drawdown exceeds the market value of all but 25 public companies globally, underscoring the severity of the volatility event for market participants (source: @KobeissiLetter).

According to @KobeissiLetter, roughly 30 minutes before President Trump's tariff announcement, a large trader opened a multi-million-dollar short in Bitcoin (BTC), and about one hour later the crypto market saw its largest-ever liquidation with the position reportedly profiting by around $192 million; source: @KobeissiLetter. For traders, the timing described points to elevated event-driven risk around U.S. trade policy headlines, warranting stricter leverage, tighter stops, and pre-announcement hedging in BTC derivatives; source: @KobeissiLetter.

According to Miles Deutscher, the crypto market just experienced the biggest liquidation event in history, and he released an emergency market update detailing why it happened, what may come next in the near term, and how he is positioning his portfolio for the next few weeks, source: Miles Deutscher on Twitter, Oct 11, 2025; YouTube youtu.be/2cttTf4HXsc.

According to @EmberCN, ETH was quoted at 4,320 dollars with only a 63 dollar buffer to a cited liquidation price at 4,257 dollars, meaning a further decline would reach that liquidation level. Source: @EmberCN on X, August 18, 2025. Traders can monitor 4,320 dollars and 4,257 dollars as immediate levels for risk management and alert setting based on the cited data. Source: @EmberCN.

According to @ai_9684xtpa, MYX token experienced a sharp 58% drop to $0.9184 following significant sell-offs by Hack VC. Over the past 7 hours, Hack VC received 1,279,890 MYX (worth $2.157 million) from an airdrop contract and quickly transferred these tokens to two addresses. One address (0x259...4FE57) sold 445,000 MYX at an average price of $1.68, totaling approximately $747,000. This large-scale liquidation directly contributed to severe downward price pressure, highlighting the risk of token unlock events for MYX traders and underscoring the importance of monitoring institutional wallet movements for short-term trading strategies (source: @ai_9684xtpa).

According to Lookonchain, prominent trader AguilaTrades was fully liquidated on the Hyperliquid platform, resulting in losses nearing $40 million. This significant event highlights the high risks associated with leveraged trading in the crypto market, particularly on decentralized derivatives platforms like Hyperliquid. Traders are advised to closely monitor risk management strategies, as large-scale liquidations can impact market liquidity and volatility, potentially influencing prices of major cryptocurrencies. Source: Lookonchain via X.

According to @MilkRoadDaily, the cryptocurrency market experienced a massive liquidation event where over $650 million in positions were wiped out within a single hour. This event strongly indicates a significant short squeeze, where a rapid price increase forced traders who were betting on price declines (bears) to close their positions, leading to substantial losses. For traders, this highlights extreme upward volatility and the significant risks associated with shorting the market during such conditions, emphasizing the need for stringent risk management.

According to @FoxNews, escalating geopolitical tensions have triggered a sharp downturn in the cryptocurrency market. Following reports of Israeli forces bombing targets in Iran and U.S. military airstrikes on key Iranian nuclear sites, Bitcoin (BTC) price fell more than 4% to as low as $103,900. The sudden market crash led to massive liquidations, wiping out $595 million in bullish crypto bets. In total, 172,853 traders were liquidated over 24 hours for a total of $681.8 million. Ether (ETH) traders sustained the heaviest losses at $282 million, followed by Bitcoin (BTC) traders at $151 million, with other major altcoins like SOL, XRP, and DOGE also facing significant losses. The risk-off sentiment also impacted traditional markets, with U.S. stock futures declining while safe-haven assets like gold and oil surged, with crude oil jumping 9%. The report notes that traders are likely bracing for more volatility amid threats of further strikes.

According to @lookonchain, the cryptocurrency market experienced one of its most severe downturns in recent months, with over $1.15 billion in leveraged positions liquidated. Long traders were hit the hardest, accounting for more than $1 billion of the total losses, indicating overly optimistic market positioning. The single largest liquidation was a $200 million Bitcoin (BTC) long position on the Binance exchange. Data from Coinglass cited in the report shows that over 247,000 traders were liquidated in a 24-hour period. The market-wide sell-off saw BTC drop more than 3%, while Ether (ETH) plunged 8%. Other major altcoins like Solana (SOL) and Dogecoin (DOGE) also fell over 8%. The report highlights that crypto exchanges Binance and Bybit saw the majority of the activity, accounting for a combined $834 million in liquidated trades.

According to @lookonchain, the cryptocurrency market experienced a severe downturn, leading to over $1.15 billion in liquidations of leveraged long positions. The single largest event was a $200 million Bitcoin (BTC) long position liquidated on the Binance exchange, marking one of the most significant individual losses of the year. Data cited from Coinglass indicates that over 247,000 traders were liquidated within a 24-hour period, with optimistic long traders accounting for more than $1 billion of the total losses. The market volatility caused Bitcoin (BTC) to drop over 3% to $104,700, while Ethereum (ETH) fell 8% to $2,530. Other major altcoins like Solana (SOL) and Dogecoin (DOGE) also saw declines of over 8%. The exchanges Binance and Bybit handled the majority of these forced closures, with a combined total of over $834 million in liquidated trades.