Bitcoin plunged from $122K to $102K before rebounding, triggering over $19 billion in liquidations across crypto markets.
Bitcoin (BTC) suffered a historic flash crash on Saturday, plunging from $122,000 to $102,000 before rebounding to around $112,000. The 17% drop sparked over $19 billion in leveraged liquidations, marking the largest wipeout in crypto history, according to Coinglass.
Ethereum (ETH) fell over 20% to $3,440, while other altcoins saw even steeper drops of up to 90%. The crash followed U.S. President Donald Trump’s announcement of a 100% tariff hike on Chinese “critical software” imports, escalating trade tensions and shaking investor confidence.
The heaviest losses were recorded on Hyperliquid ($10B), Bybit ($4.5B), and Binance ($2.5B). In total, more than 1.6 million traders were liquidated in a single day.
Despite the bloodbath, analysts like Samson Mow and Michael van de Poppe remain optimistic, suggesting the drop may mark the cycle’s bottom and signal a potential rebound ahead of “Uptober.”
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