In brief
- Mt. Gox’s 2011 hack caused Bitcoin’s worst crash ever, plummeting 99.9% after hackers dumped stolen BTC for pennies.
- Major crashes stemmed from China bans, COVID-19 panic, and crypto platform collapses like Celsius and FTX.
- Trump’s October 2025 China tariff threat triggered a 13% drop and $19 billion in liquidated positions—but didn’t make the list.
The Oct. 10, 2025, crypto market crash wiped out an unprecedented $19 billion worth of leveraged Bitcoin and other crypto positions. But it was far from one of the biggest percentage drops in the price of BTC on record.
From Mt. Gox’s penny trade to the FTX collapse shock, here’s every time Bitcoin’s price crashed hard—and the circumstances that triggered it.
1.Mt. Gox Flash Crash (June 2011)
This is the big one. Bitcoin dropped approximately 99.9% on Mt. Gox after a hacker stole hundreds of thousands worth of BTC and sold it for just a pe
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Author: Stacy Elliott
