$19,270,000,000 in Bitcoin and Crypto Liquidated in Largest Single-Day Leverage Meltdown in History
Bitcoin and crypto markets just witnessed the single largest daily liquidation event on record.
The meltdown hit $19.27 billion in liquidations in the last 24 hours, according to CoinGlass .
That’s larger than the massive liquidation cascades during the collapses of Terra Luna, FTX and the COVID-19 fallout.
President Trump’s ongoing tariff battle is at the center of the crash.
Today, Trump escalated the U.S.-China trade war to unprecedented levels, announcing an additional 100% tariff on all Chinese imports effective November 1st.
Trump says the move, layered on top of existing 30% duties, is a direct retaliation to new export controls by Beijing on rare earth elements.
The fallout didn’t stop at digital assets.
Trump’s tariff salvo triggered a synchronized global equity rout, with the Dow Jones shedding nearly 900 points, or 2.1%.
The S&P 500 dropped out 2.7%, and the Nasdaq lost 3.5%.
Asian markets followed, with Hong Kong’s Hang Seng plunging 4.2%, Tokyo’s Nikkei losing 3.1% and Shanghai’s Composite dropping 2.8%, as investors prepare for potential retaliatory measures from Beijing.
Generated Image: DALLE3
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: Institutional ETFs and Derivatives Indicate a Positive Shift for XRP Above Crucial Support Levels
- XRP rebounds above $2.20 as buyers defend key support, supported by $107.92M in ETF inflows and rising institutional confidence. - Technical analysis highlights a bullish "Staircase to Valhalla" pattern, with $2.26-$2.52 resistance levels and Fibonacci targets signaling potential for $2.69. - Derivatives data shows aggressive long-positioning (OI: $4.11B), with Binance's 2.56 long-short ratio and 57% options OI surge reinforcing bullish momentum. - Institutional ETF conversions (e.g., Grayscale Zcash) an
Why Switzerland's Temporary Halt on Crypto Highlights Worldwide Regulatory Disunity
- Switzerland delays crypto tax data-sharing until 2027, highlighting global regulatory fragmentation amid CARF adoption challenges. - Two-phase approach prioritizes domestic law alignment before reciprocal agreements with key economies like U.S., China, and Saudi Arabia. - 75 CARF signatories progress unevenly, with U.S. and Brazil proposing alternative frameworks, complicating cross-border compliance. - Swiss crypto firms face operational risks during transition, as critics warn of regulatory arbitrage b
Thailand’s Bold No-Crypto-Tax Move: Shaping a Future Southeast Asian Crypto Center
- Thailand imposes 0% capital gains tax on local crypto trading (2025-2029) to boost its digital economy and attract investors. - The policy aligns crypto profits with tax-exempt stock trading, supported by a 2024 Bitcoin ETF and Tourist DigiPay pilot for foreign visitors. - Regulatory caution is evident through biometric data shutdowns and PDPA compliance, balancing innovation with security amid regional competition. - Projected $1B annual economic gains aim to position Thailand as a top Southeast Asian c
The Transformation of Webster, NY: Targeted Property and Infrastructure Initiatives After the Xerox Era
- Webster , NY, secured a $9.8M FAST NY grant to transform the former Xerox campus into a shovel-ready industrial hub, part of Governor Hochul’s upstate revitalization strategy. - Infrastructure upgrades, including road and sewer improvements, aim to attract advanced manufacturing and logistics firms by reducing development risks and costs. - The Xerox campus redevelopment includes mixed-use projects, projected to create 250 jobs and boost property values through residential and commercial integration. - W
Trending news
MoreCrypto prices
More
