December Crypto Market Turbulence
Hold on to your digital wallets, more than 1.6 million traders just took a big hit. Around $19 billion vanished from crypto positions in less than 24 hours, after a sudden market crash triggered by Donald Trump’s unexpected announcement of 100% tariffs on China.
Coinglass statistics show that over $7 billion was sold off in a single hour on October 10. Yep, one hour. It was a crypto flash flood, quick, violent, and agonizing.
Did your portfolio survive the storm? If yes, count yourself lucky. If not… well, welcome to the club.
Think $19 billion was bad?
Buckle up, Brian Strugats, head trader at Multicoin Capital, says the total crypto liquidation could exceed $30 billion. Why? It’s not just crypto feeling the heat. There’s growing fear this crash could spill over into traditional markets, stocks, funds, the whole works.
If you’ve been thinking, “This can’t get worse,” well… experts are hinting otherwise. It’s what they call a market contagion, when one market’s mess spreads like wildfire.
Moral of the story? Stay sharp, manage your risk, and maybe don’t keep all your coins in one crypto.
According to CoinMarketCap, the global crypto market cap plunged to $3.74 trillion, down from $4.30 trillion just a day before. Trading volumes spiked to $490.23 billion as panic selling took hold.
Bitcoin (BTC):
Ethereum (ETH):
Market Dominance:
Things are getting wild in the crypto world, and experts are sounding the alarm. Caroline Mauron, co-founder of Orbit Markets, says the next big support level for Bitcoin is around $100,000.
If it slips below that, we might be waving goodbye to a three-year-long bull run.
Meanwhile, David Jeong, CEO of Tread.fi, has called the crash a true “black swan event”, a rare and unexpected financial shock. He explains that the extreme market volatility likely blindsided many institutional investors. Thanks to the highly leveraged nature of perpetual futures, even the big players weren’t safe. Many were forced to liquidate huge positions just to stop the bleeding.
So, if you felt the ground shake in your crypto wallet, you’re not alone. The question now is: Will Bitcoin bounce back or dive deeper? Stay tuned, because this ride isn’t over yet.
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
Always bold with her opinions, she also never misses the chance to weave in expert voices, keeping things balanced and insightful. In short, Aishwarya brings a fresh, sharp, and fact-driven voice to every story she touches.
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