CoinGlass brought to the attention of the crypto community the amount liquidated in the Bitcoin and crypto market this year. THE October 10 crash Notably, this is the largest liquidation in market history.
Here’s how much money was liquidated in the Bitcoin and crypto market in 2025
A CoinGlass Report revealed that the total nominal value of forced liquidations on long and short positions was approximately $150 billion. This corresponds to a daily average of between $400 and $500 million in routine washing. CoinGlass noted that the vast majority of trading days were limited to liquidations, which amounted to tens or hundreds of millions of dollars. These movements therefore had a limited impact in the medium and long term. Bitcoin Prices and the structure of the crypto market.
However, CoinGlass said the systemic tensions were entirely concentrated in a few windows of extreme events, with the October 10 deleveraging event being the most evident for Bitcoin and crypto market. On that day, market-wide liquidation volume reached an extreme peak, with short and long liquidations exceeding $19 billion.
This is the largest liquidation event in Bitcoin and crypto market history and has surpassed the single-day highs of all previous liquidation cycles. CoinGlass suggested that the scale of October 10 Clearance could be much higher than $19 billion, given the disclosure timing of some platforms and feedback from market makers. Based on this, the derivatives analytics platform estimates that the actual nominal scale of liquidation likely reached between $30 billion and $40 billion.
This figure represents a multiple of the second highest liquidation event of the previous cycle, which occurred on April 18, 2021. CoinGlass noted that, structurally, liquidations on that day were heavily skewed to the long side, with long liquidations accounting for up to 90% of total Bitcoin and crypto market liquidations. The platform said this indicates that prior to the event, BTC and associated derivatives markets were in a state of extremely crowded long leverage.
Who are responsible for the crash of October 10?
CoinGlass noted that from an informal perspective, the trigger for the October 10 Bitcoin and crypto market crash was Trump’s announcement 100% customs duties on Chinese products. This would have significantly increased market expectations of a new round of trade tensions between the two countries, prompting investors to adopt a “risk aversion” mode.
However, beyond Trump’s announcement, CoinGlass said that the use of long-term leverage in the derivatives market was high and the basis between spot and futures was high. As such, the entire Bitcoin and crypto market was effectively in a fragile state characterized by “high valuation and high leverage.” Therefore, the derivatives analysis platform suggested that Trump’s announcement was just a catalyst that brought down the “House of Cards.”
At the time of writing, the price of Bitcoin is trading at around $87,400, down almost 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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