The cryptocurrency market experienced its largest-ever liquidation event on October 10, with a total of $19.16 billion liquidated. This was triggered by market turmoil following the U.S. imposition of tariffs on China. This event surpassed previous significant liquidations, including the $9.94 billion liquidation on April 18, 2021, due to anti-money laundering rumors and mining shutdowns, and the $9.01 billion liquidation on May 19, 2021, related to Tesla's regulatory actions. The data, provided by Coinglass, highlights the scale of the October 10 event, which dwarfs past incidents such as the "Tesla policy reversal" and "tightening mining regulations" in 2021. Notably, the actual liquidation figures could be higher due to Binance and OKX limiting the frequency of order liquidation updates per second.
Crypto Market Sees Record $19.16 Billion Liquidation Amid Tariff Shock
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