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A sudden flash crash rattled crypto markets on Oct. 10, erasing billions in leveraged positions as Bitcoin, Ethereum, and other major tokens plunged before staging partial recoveries.
Bitcoin fell more than 10% at its lowest point, slipping to $105,500 before rebounding to trade near $112,500 as of press time.
Ethereum similarly dropped over 10% intraday before stabilizing above $3,800. Major altcoins suffered significantly steeper losses, including Solana and Dogecoin, which fell more than 30% and 50%, respectively.
While Solana continues to trade below its key $200 threshold, DOGE experienced a rapid recovery and was trading above the $0.18 support level as of press time.
The downturn was triggered by a large sell order that cascaded through futures markets, forcing widespread liquidations in an already fragile market state after escalating geopolitical tension between the US and China.
The wave of forced selling deepened volatility, with liquidity evaporating across major trading pairs. As of press time, more than $7 billion had been liquidated across long and short positions amid the whiplash price action.
The crash highlighted the structural fragility of the crypto market, where high leverage and concentrated liquidity amplify sudden price shocks. Bitcoin’s order books thinned rapidly, sending prices spiraling before buyers stepped in to absorb the move.
Despite the rebound, traders remain cautious. Bitcoin faces key support near $110,000, while Ethereum must hold the $3,800 to $4,000 range to prevent further downside pressure.
Market participants are also watching open interest levels and whale activity for signs of renewed stability or additional stress. The event was a sharp but potentially healthy reset, flushing out excess leverage after months of speculative buildup.
However, the flash crash served as a reminder of how quickly sentiment can reverse in the digital asset market, where algorithmic trading and leverage can turn routine corrections into rapid, systemwide sell-offs.
Correction (Oct. 13, 09.30): Lower price range adjusted to global average.
Bitcoin Market Data
At the time of press 9:33 am UTC on Oct. 13, 2025, Bitcoin is ranked #1 by market cap and the price is up 3.19% over the past 24 hours. Bitcoin has a market capitalization of $2.3 trillion with a 24-hour trading volume of $93.8 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 9:33 am UTC on Oct. 13, 2025, the total crypto market is valued at at $3.93 trillion with a 24-hour volume of $269.17 billion. Bitcoin dominance is currently at 58.51%. Learn more about the crypto market ›
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