"A post on X by The Kobeissi Letter captured the scale: "It's official: Crypto just saw its LARGEST liquidation event in history with 1.6 MILLION traders liquidated. Over $19 BILLION worth of leveraged crypto positions were liquidated in 24 hours, 9 TIMES the previous record." It notes it marked a single-day swing in Bitcoin's market cap of a $380 billion."
"According to the post, the $19 billion liquidation event wiped out 1.6 million traders in 24 hours, dwarfing the previous $2.1 billion record from February. This "massive correction" reflects how a sharp price drop adjusted overextended markets . The tariff news, coupled with new U.S. export controls on software, reignited trade war fears, prompting investors to exit risky assets like crypto. Bitcoin was not alone: Ethereum ( ) fell below $3,500 and altcoins saw double-digit losses."
Markets shed roughly $200 billion as Bitcoin fell over 15% from above $122,000 to about $104,000, creating a single-day market-cap swing near $380 billion. President Trump's announcement of potential 100% tariffs on Chinese imports, following Beijing restrictions on rare earth minerals, and new U.S. export controls on software reignited trade-war fears. Those macro shocks prompted investors to exit risky assets, producing the largest-ever crypto liquidation event: about $19 billion wiped out and 1.6 million traders liquidated within 24 hours. Long positions accounted for roughly $16.7 billion (88%) of liquidations. Ethereum and many altcoins also experienced double-digit losses.
Read at 24/7 Wall St.
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