Odaily, citing Bitcoin.com News, reported that the crypto market saw about $19 billion in leveraged positions liquidated within 24 hours during Oct. 10-11, 2025, after U.S. President Donald Trump announced a 100% tariff on goods imported from China. The report said more than 1.6 million traders were affected, with long positions accounting for about $16.7 billion of the total. It also pointed to a sharp contraction in derivatives exposure across trading venues. Open interest in perpetual futures on major exchanges fell 43% in a single day, dropping from $217 billion to $123 billion. On decentralized derivatives exchange Hyperliquid, open interest fell 57%, sliding from $14 billion to $6 billion. Market makers cited in the report estimated the actual liquidation figure may have been between $30 billion and $40 billion. The same report also referenced two later liquidation episodes: on Jan. 20, 2026, positions worth $1.08 billion held by more than 182,000 traders were liquidated, and on Feb. 1, about $2.2 billion in positions were wiped out over 24 hours, with Ethereum, Bitcoin, and Solana accounting for $961 million, $679 million, and $168 million, while longs made up roughly 80% to 85% of the total.
About $19 billion in leveraged crypto positions were liquidated within 24 hours on Oct. 10-11, 2025, after U.S. President Donald Trump announced a 100% tariff on goods imported from China, according to Odaily, which cited Bitcoin.com News.
The report said more than 1.6 million traders were caught in the move. Long positions made up about $16.7 billion of the total.
Open interest dropped across major venues
Open interest in perpetual futures on major exchanges fell 43% in one day, dropping from $217 billion to $123 billion. On decentralized derivatives exchange Hyperliquid, open interest fell 57%, from $14 billion to $6 billion.
Market makers estimated that the actual scale of liquidations may have reached $30 billion to $40 billion.
Other liquidation figures cited in the report
The same report also mentioned that on Jan. 20, 2026, positions worth $1.08 billion held by more than 182,000 traders were liquidated. On Feb. 1, roughly $2.2 billion in positions were liquidated over 24 hours, including $961 million in Ethereum, $679 million in Bitcoin, and $168 million in Solana positions. Longs accounted for about 80% to 85%.
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