Bitcoin plunged by over 18%, triggering record liquidations and a $1 trillion market cap wipeout amid a sharp crypto sell-off on October 10.
Bitcoin plunged 18.1% from above $126,000 to below $103,310 last week, marking the largest nominal liquidation event in crypto history. Ethereum also dropped significantly, and altcoins lost over 80% of their value. On October 10, the total crypto market cap fell by $1 trillion, driven by aggressive selling and a 2.5-to-1 seller imbalance. Bitfinex suggests a potential Bitcoin rebound if it stays above $110,000 but warns of a retest of $100,000 if not.