Morning Minute: $19B Wiped Out in Crypto's Biggest Liquidation Ever
A historic flush of ~$19B in crypto liquidations occurred on Friday, marking the worst day in crypto's existence.
The crypto market saw the largest liquidation wave on record, with forced unwinds spanning exchanges and Perps protocols, due to a miscommunication between Trump and China.
- BTC slid from $118,000 to $101,000 in a few hours.
- Alts like SUI fell as much as 80%.
- Majors experienced an ~8-13% intraday drop.
Friday wasn’t just a bad day for crypto. It was the worst day in crypto’s existence.
Author's summary: Crypto market faces historic liquidation.