The Wildest Crypto Ride in History
Imagine waking up, checking your portfolio, and seeing that your trades got wiped out overnight. That’s exactly what happened to thousands of traders in the past 24 hours. Bybit CEO Ben Zhou estimates that between $8 to $10 billion in crypto trades were liquidated—possibly the largest single-day liquidation event in history!
So, what the hell happened? Let’s break it down.
Step 1: Bitcoin’s Rollercoaster Ride
Yesterday, Bitcoin’s price crashed hard, triggering mass liquidations. However, it bounced back above $98,000, proving once again that Bitcoin is a beast when it comes to survival.
Key term to remember: Liquidation
When a trader borrows money to bet on the market (leverage), and the market goes the opposite way, their position gets automatically liquidated—meaning their trade is forced to close, and they lose everything in that trade.
Step 2: How Big Was This Disaster?
According to Coinglass, total liquidations were $2.38 billion, but Zhou says it’s way worse. Bybit alone saw $2.1 billion in liquidations, and when adding other exchanges, the real number could be $8–10 billion!
Why the difference? Zhou says exchanges limit how much liquidation data they share in real-time due to API restrictions. But he promised Bybit will start showing all liquidation data soon.
Step 3: Altcoins Got Wrecked
While Bitcoin held above $98,000, smaller cryptocurrencies suffered the worst damage. Riskier assets got dumped hard, with XRP losing 27% in one day, wiping out billions in market value.
Key term to remember: Risk Curve
The further out the risk curve an asset is, the more volatile it is. That’s why small altcoins crashed harder than Bitcoin.
Step 4: The Crypto Market Exploded in Trading Volume
Despite the crash, trading skyrocketed to $99 billion, a 173% increase from the daily average. This shows that while some traders got liquidated, others jumped in to buy the dip.
Key lesson: Volatility = Opportunity
Big crashes create big buying opportunities for smart traders. That’s why legendary investor Robert Kiyosaki called this market a chance to get rich, urging investors to stay cool and take advantage.
Step 5: Did Politics Play a Role?
At the same time, Trump announced massive tariffs, sparking global trade war fears. This caused chaos in traditional markets, which spilled into crypto. Some analysts believe that if Trump’s trade policies strengthen the U.S. economy, Bitcoin could benefit long-term.
Key term to remember: Trade War
A trade war happens when countries impose tariffs (taxes on imports), which can cause economic instability and push investors into alternative assets like Bitcoin.
Why Is This Important for You?
- Crypto is still the Wild West. If you use leverage, you can get liquidated in seconds.
- Market crashes = massive opportunities. Smart traders buy when others panic.
- Global events affect crypto. Keep an eye on politics, interest rates, and regulations—they can move the market just as much as whale trades.
Final Thought: Are You Ready for the Next Big Move?
If you’re serious about crypto, you need to understand volatility, liquidation risks, and macroeconomic trends. Yesterday was just another reminder that crypto isn’t for the weak-hearted—but for those who know how to play the game, it’s the biggest financial revolution of our time.
The question is: Are you in or out?
