There may be no crying in the casino. But on days like these, you’d be forgiven for shedding a tear. With $9.4 billion liquidated in a single day in the crypto market, the flash crash comes just in time to punch the late-coming retail crowd in the face.
In a single 24-hour span, crypto traders witnessed one of the biggest liquidation cascades since the heydays of 2021; a moment that rechristened “risk” for an entire generation.
The crypto market gets nuked
Of the $9.4 billion in liquidations over the last 24 hours, more than $6 billion in leveraged positions were wiped out in less than one hour. As Stock Market News commented:
“We just witnessed history.”
Bitcoin plummeted as much as 12% and, in typical fashion, altcoins fared even worse.
Why the sudden wipeout? One word: tariffs. The cascading selloff coincided with President Donald Trump’s announcement of aggressively expanded tariffs on China. His rhetoric, whether or not it comes to pass, r
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Author: Christina Comben
