Crypto's $19B Cleanup: What You Should Know
A surprise 100% tariff announcement from President Trump triggered over $19 billion in liquidations, the largest leveraged wipeout in crypto history.
Despite the significant cleanup, investors are still in profit, meaning full capitulation and emotional reset haven't occurred.
- Global crypto markets saw their largest leveraged wipeout on record on the 10th and 11th of October.
- Over $19 billion in positions were liquidated, wiping out weeks of speculative gains in both Bitcoin [BTC] and altcoins.
The fear hasn't fully set in.
The community remains unsure if the market has cleared out all the excess leverage or if more downside is still to come.
In less than 24 hours, the markets witnessed an unprecedented liquidation cascade, with more than $19 billion in leveraged positions erased.
Author's summary: Crypto faces uncertainty after $19B cleanup.