Liquid crypto resumed their route early morning asia hours after the broader crypto market continued during its storm after US President Donald Trump threatened 100% tariffs on Chinese imports by Chinese A fact social post.
The entrepreneur’s anxiety that a cooling war war is about to re-send a macro shock rippling through the crypto, which triggers one of the biggest long declines in BTC, ETH prices and other digital properties seen throughout the year.
Bitcoin recovered at $ 113,294 and Ether up to $ 3,844 as the CoinDesk 20 Index Slid 12.1%. The world’s largest cryptocurrency has fallen below $ 110,000 moments, marking a 10% decline in the past 24 hours.
The total crypto market cap dropped to $ 3.87 trillion, and approximately $ 16.7 billion of $ 19.1 billion in liquids came from the Longs, while the USDE of Etherna temporarily printed $ 0.9996, a gentle deviation that highlights the stress of the peg when the derivatives Market Whipsaw.
Friday’s crashing saw the worst crypto destroying in terms of pure volume, seeing more than 10 times more amounts of dollar liquid while crashing when the FTX collapsed in 2022 or when global markets dissolved in the first covid lockdowns. At a percentage level, Friday’s crashing was less significant, given how much the general crypto market was since 2022.
Covid Crash: $ 1.2 billion in liquids
FTX Crash: $ 1.6 billion in liquids
Now: $ 19.16 billion in liquids
This is the biggest event in the crypto history and almost 20x greater than the covid crash in March 2020. pic.twitter.com/avcsrk3l53
– Ash Crypto (@ashcryporeal) October 11, 2025
Coinglass said A post on x That while it recorded $ 19.13 billion in liquids, “the actual sum was probably higher,” noticing that the Binance’s crypto exchange – the largest in the world – didn’t report as fast as other platforms.
The Etherna team said USDE MINTING AND REDEMPTIONS remained in full operation Despite the volatility and pointed out that stablecoin is more overcollateralized as the unknown derived from short positions is realized.
Increasing the concerns of entrepreneurs, the US government’s shutdown delayed major data releases to economics, leaving markets to navigate without official indicators such as the return of rhetoric of trade war on stage.
Update (October 11, 2025, 04:00 UTC): Adds context to the importance of Friday’s liquidations.
Update (October 11, 04:20 UTC): Adds coinglass notes.
