Crypto Collapse: $1.68 Billion in Liquidations in One Day!

Crypto Collapse: $1.68 Billion in Liquidations in One Day!

The cryptocurrency market experienced the largest wave of liquidations on October 8, 2025 since December 9, 2024. In a single day, over $1.68 billion in leveraged positions were liquidated, causing a massive shock to traders. A total of 390,029 traders had to close their positions, as it reported U.Today reported.

Particularly affected was Ethereum, which recorded the highest liquidation with a loss of $501.63 million. Bitcoin followed with $287.01 million, while Solana, XRP and Dogecoin also suffered significant declines. The detailed breakdown of liquidations shows the following values:

• Ethereum: 501,63 Millionen USD
• Bitcoin: 287,01 Millionen USD
• Solana: 95,92 Millionen USD
• XRP: 77,96 Millionen USD
• Dogecoin: 61,32 Millionen USD
• Andere Altcoins: 257,56 Millionen USD

The distribution of liquidations

The largest single liquidation took place on the OKX trading platform, where a Bitcoin-Enddt swap worth $ 12.74 million was liquidated. It is striking that the losses were very unbalanced: $ 1.6 billion was in long positions, while only $ 85.9 million fell on short positions. In the last 12 hours, 1.53 billion USD of USD 1.59 billion losses added to long positions. The situation further tightened when $ 30.22 million long positions were liquidated in the last four hours, compared to USD 10.85 million in short positions.

Binance founder CZ commented on the situation and emphasized that declines are important to set support levels. This view could suggest hope that such declines could initiate a potential rally. Additionally, Ethereum fell nearly 10% on the same day while gold hit new highs, adding to uncertainty in the crypto market.

Rumors and market behavior

In the middle of these turbulence, rumors circulated about a possible hack at Bybit. However, the company practiced in the all -clear and explained that all funds were safe and the trading systems work normally. The fears of cyber attacks are a constant companion in the financial world, especially in the volatile cryptocurrency industry.

The market movements in September have often been challenging for Bitcoin and Ethereum in the past, with declines of -37.9 % for BTC in 2020 and -17.5 % for ETH in 2018. Interestingly, October has often shown positive developments in the past. Bitcoin recorded an increase in +15 % on average, while Ethereum experienced an increase of +42.8 % in October 2021 and even +58.7 % in 2020. The term "upper" is used to characterize the possible positive developments in October.

The current $1.7 billion liquidation could pave the way for a potential rally or indicate deeper fragility in the market. The coming weeks will be crucial in determining whether the market can find the support it needs to stabilize.