“Oct 11 Crash” First Anniversary: $19B Liquidation Warning Persists, Analysts Warn of Derivatives Leverage Risks

According to CoinDesk, it has been one year since the "October 11 crash" that triggered roughly $19 billion in leveraged liquidations across the crypto market, with analysts warning that the potential structural risks behind the flash crash persist. In October 2025, Bitcoin experienced a sudden flash crash within days of hitting an all-time high above $126,000, plummeting from approximately $122,000 to $105,000 in a short timeframe and triggering the mass liquidation of leveraged long positions.