Forced liquidations of the cryptocurrency market in 2025 amounted to a record $ 150 billion

In 2025, forced liquidations in the crypto market exceeded $ 150 billion, according to the CoinGlass analytical platform. Investors lost about $ 500 million a day, and most days of the year were accompanied by the closure of positions worth tens or hundreds of millions of dollars.

The biggest collapse occurred on October 10−11, when the amount of liquidations per day exceeded $ 19 billion, and with delays, it could have reached $ 30−40 billion. Long positions accounted for 90% of the closures, making it the most devastating day in the history of the crypto market.

The crisis was triggered by US President Donald Trump’s announcement of a 100% duty on imports from China. At the time, bitcoin was at a record high of about $ 126,000, and the derivatives market was oversaturated with long positions.

CoinGlass analysts note that the collapse exposed structural problems: excessive leverage, low-liquid assets, and complex hedging strategies. Automatic liquidation mechanisms failed, causing cascading failures. Delays at centralized exchanges and problems with APIs further aggravated the situation.

Despite the large-scale stress, there were no systemic defaults. Large market makers, including Wintermute, suffered losses but remained resilient. After the October crash, liquidity plummeted and demand for risky assets declined, signaling a new phase of «cooling» in the crypto industry.