"1011" Crash Anniversary: Crypto Market Sees Over $19 Billion in Single-Day Liquidations, BTC Once Plunged 12.7% in Half an Hour

Odaily: On October 11, 2025, the crypto market suffered a historic crash, with total single-day liquidations across the network exceeding $19 billion, setting a record. At the time, Bitcoin had just hit an all-time high of $126,080 on October 7, but at around 16:50 Beijing time on October 11, the BTC price fell from approximately $116,900 to $102,000 within 30 minutes, a drop of 12.7%.

During the crash, several trading platforms experienced extreme price deviations. ATOM briefly dropped to $0.001 on Binance, while its lowest price on Coinbase was $3.56; on Binance, wBETH briefly fell to $430, BNSOL dropped to $34.90, and USDe fell to $0.65. After the incident, Binance paid approximately $283 million in compensation to affected users.

Additionally, on-chain data shows that a Hyperliquid whale completed an approximately $400 million BTC short position before Trump released tariff-related news, sparking speculation about insider trading. Arkham had referred to the whale as the "Trump Insider Whale," but Garrett Jin, a person associated with the relevant address, denied any connection to Trump, and the allegations remain unverified to this day.