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"The crypto market just faced its biggest crash in history—over $19B wiped out, 1.6M traders liquidated, and Bitcoin dropped $20K in hours. Was this the end of the bull market or a leverage reset?
We break down what triggered the collapse, insider trading allegations, and what it means for Bitcoin, altcoins, and your portfolio."
~ Coin Bureau
The crypto market experienced its largest liquidation event in history on Friday, October 10th, with over $19 billion wiped out and more than 1.6 million traders liquidated. This crash was immediately triggered by a post from President Trump on Truth Social, threatening a 100% tariff on all Chinese imports, escalating a geopolitical trade conflict that had been brewing for months. The severity of the drop, which saw Bitcoin flash crash to lows of $14,500 on some exchanges and altcoins plunge between 20% and 40%, was amplified by an extreme buildup of leverage in the market, notorious low liquidity on a Friday afternoon, and technical failures on major exchanges like Binance and Coinbase that prevented stop-loss orders from executing. Evidence of highly suspicious, perfectly-timed short trades by a whale trader just minutes before the announcement has also led to calls for an insider trading investigation.
Despite the chaos, Bitcoin managed to hold the critical $100,000 support level, quickly stabilizing around the $110,000 to $113,000 range, suggesting the event was a derivatives-led leverage flush rather than a fundamental market breakdown. On-chain data indicates that institutional players, including BlackRock's spot ETF, saw the dip as a major buying opportunity, reinforcing the belief that the long-term structural bull run remains intact. However, the immediate future for altcoins is more uncertain, with the altcoin season index falling, and the market's recovery is now entirely dependent on geopolitical headlines and the resolution of the trade tensions between the US and China, with a November 1st tariff deadline looming.
0:00 Intro
01:40 What Triggered It: Geopolitics & Trump’s Tariff Bomb
03:47 The Liquidation Cascade: Why It Was So Severe
06:28 Insider Trading or Coincidence? The $200M Whale
07:28 What’s Next for Crypto
08:41 Altcoin Season Over? New Narratives Take the Lead
09:33 Trump’s Trade War Timeline: What Comes Next
11:16 The Bull Market Isn’t Over, But Everything’s Changed
Source - Coin Bureau YouTube: https://www.youtube.com/watch?v=odq4tLVSjQs
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
