The cryptocurrency market was rocked on Friday as over $5.03 billion in leveraged positions were liquidated within 24 hours, marking one of the largest single‑day wipeouts of 2025.
The cascade was triggered by Bitcoin’s drop below $107,000, fueled by panic selling following President Trump’s renewed tariff threats against China.
Data from Coinglass shows that the majority of losses came from overleveraged long traders.
In the past hour alone, approximately $3.32 billion was liquidated, including $3.24 billion in long positions and $79 million in shorts, as Bitcoin briefly dipped to the $106,000 range. Over the past four hours, liquidations totaled $3.95 billion, while the 12‑hour tally reached $4.79 billion.
BREAKING: Over $3,000,000,000 liquidated from the crypto market in the past 60 minutes.
— Watcher.Guru (@WatcherGuru) October 10, 2025
Across the full 24‑hour span, $4.72 billion in longs and $309 million in shorts were wiped out as volatility surged across major exchanges. Ethereum, Solana, and XRP followed Bitcoin’s sharp decline, posting double‑digit weekly losses.
Analysts warn that the market’s extreme leverage and cascading liquidations have amplified the sell‑off. While some stabilization may follow, Bitcoin’s failure to reclaim the $110,000 resistance level could invite another round of volatility over the weekend.