According to @BullTheoryio, the total crypto market cap excluding BTC and ETH has historically expanded through sharp 30–60% resets, with 2020 seeing a -60% correction and 2021 registering -36%, -57%, and -31% mid-cycle pullbacks (source: @BullTheoryio, X, Oct 13, 2025). The author states that the latest move included the largest single-day altcoin liquidation on record, with $20B liquidated, roughly $1T in market cap erased, and 70–90% drawdowns across many alts (source: @BullTheoryio, X, Oct 13, 2025). The thread argues these violent purges typically precede the strongest rallies once leverage is flushed and liquidity resets, indicating a bull-market rhythm rather than structural weakness (source: @BullTheoryio, X, Oct 13, 2025). The author concludes this was not the end of altseason but a clean-up before the next leg in the pure altcoin cycle, emphasizing the ex-BTC/ETH market structure for traders monitoring cycle timing (source: @BullTheoryio, X, Oct 13, 2025).

According to @rovercrc, multiple altcoins experienced a flash crash with intraday drawdowns exceeding 70% before a sharp rebound, source: @rovercrc. The move is described as manipulation, with the rebound framed as a leverage flush that often precedes further upside, source: @rovercrc. The author states they are buying the dip after the washout, indicating a bullish near-term stance toward altcoins, source: @rovercrc.

According to Miles Deutscher, this is finally a window to start DCAing into the strongest altcoins, citing BNB, MNT, and SOL as examples, with an emphasis on relative strength and structural resilience post-drawdown; source: Miles Deutscher on X, Oct 11, 2025. He recommends selecting coins that demonstrated relative strength before the dip and are structurally unaffected by the leverage wipeout, explicitly excluding perpetual DEX tokens due to potential business model risk from the leverage flush; source: Miles Deutscher on X, Oct 11, 2025. He advises focusing on flow support, prioritizing assets with an external bid from buybacks, DATs, and token sinks, while avoiding heavy supply overhang by targeting minimal unlock schedules; source: Miles Deutscher on X, Oct 11, 2025.

According to the source, more than $4.8B in crypto long positions were liquidated over the past week, including $2.99B on Monday, indicating a broad deleveraging across perpetual futures markets (source: X post dated Sep 28, 2025). Historical data show that large liquidation clusters often coincide with volatility spikes and negative funding rates as long leverage exits the market (source: Kaiko Research, 2024). Traders commonly assess whether deleveraging is complete by tracking open interest drawdowns and the perp-to-spot basis, as sizable OI resets have preceded short-lived relief bounces in BTC and ETH in past selloffs (source: Glassnode Research, 2023–2024). Risk controls in such conditions typically include reducing leverage and waiting for funding rates to normalize toward zero before re-entering trend trades (source: Binance Research, 2024). For confirmation of a healthier market tone, traders watch for BTC and ETH perp basis turning sustainably positive versus spot alongside a balanced long-short skew as OI rebuilds (source: Deribit Insights and Kaiko Research, 2024).

According to @MilkRoadDaily, roughly $1.6B in crypto positions were liquidated in the latest drawdown, which they characterize as a leverage flush rather than a market top. source: @MilkRoadDaily They highlight trading-relevant segments—Panic or Not, Why the Dip, When to Worry, Figure Markets, Nexo, What’s Next, and Market Structure Shift—signaling a focus on concrete risk triggers and structure-based timing. source: @MilkRoadDaily They state they are not panicking and view the move as a setup for something bigger, directing traders to the 00:00–39:04 timestamps for positioning context and next steps. source: @MilkRoadDaily

According to @MilkRoadDaily, crypto liquidations just set the largest total of the year, surpassing the prior $922M peak on Aug 1. source: @MilkRoadDaily on X, Sep 22, 2025. According to @MilkRoadDaily, the newest liquidation wave is nearly double that August figure, marking an aggressive deleveraging across the market. source: @MilkRoadDaily on X, Sep 22, 2025. According to @MilkRoadDaily, the market just got wiped clean, highlighting the scale of forced unwind activity. source: @MilkRoadDaily on X, Sep 22, 2025.

According to @rovercrc, approximately $700,000,000 in crypto long positions were liquidated over the past 24 hours, highlighting a broad leverage flush that traders monitor for liquidity-driven moves, source: @rovercrc on X, Aug 26, 2025.

According to @Pentosh1, a completed 15k BTC swap into ETH was followed by a derivatives market flush after several billions were added to open interest, source: @Pentosh1. The leveraged front-running that piled into the move has now been cleaned up, indicating a de-risking of crowded positions, source: @Pentosh1.

According to @rovercrc, an S&R trader named Mario from a private Telegram signal group longed LDO at the bottom during a leverage flush and is currently riding profits, source: @rovercrc. The post identifies Mario as an S&R trader and promotes a VIP group link, while providing no exact entry price, position size, or timestamp for independent verification, source: @rovercrc. The update frames LDO’s leverage flush as a bottom-reversal long setup example for traders monitoring liquidation-driven wicks and support-resistance levels, source: @rovercrc.

According to Miles Deutscher, a straightforward and effective trading strategy during market uptrends is to place buy orders on the strongest-performing altcoins during price pullbacks or leverage flushes. Deutscher advises that this 'buy the dip' approach on leading alternative cryptocurrencies should be the primary playbook for traders until there is a clear indication that the overall market trend is shifting.