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Morning Minute: $19B Wiped Out in Crypto's Biggest Liquidation Ever

The crypto market faced a historic liquidation event, with approximately $20 billion in positions wiped out in a rapid sell-off. Dubbed ‘Black Friday’, the crash occurred after President Trump announced a 100% tariff on all Chinese products, leading Bitcoin to plummet 17% in just hours. The market saw forced unwinds across exchanges, with over $19 billion in liquidations reported, primarily affecting long positions. Trading firms reportedly faced significant losses, with some being liquidated entirely due to cross-collateralization. This event highlighted the extreme volatility and risks associated with trading on leverage. Although the market has begun to recover, the aftermath leaves questions about the stability and trajectory of cryptocurrency prices going forward.

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