On October 11, 2025, the Crypto Assets market experienced an unprecedented violent shock, a day that will be remembered as an important moment in the history of Crypto Assets. Without any warning, a sudden market turmoil swept in, causing an astonishing 1.64 million people to Get Liquidated, and leading to a market capitalization evaporation of up to 19.2 billion dollars. The scale of this event dwarfed the previously closely followed "3·12" big dump and the Luna collapse.

Market participants were shocked when they opened their trading software: Bitcoin fell from $122,000 to $102,000, Ethereum dropped more than 22%, and Solana and Ripple's declines were close to 30%. The situation for other small Crypto Assets is even more severe, with most facing a fall of around 90%. Investors participating in leveraged trading suffered the heaviest blow, with $9 billion in positions forcibly liquidated in just one hour, and 98% of leveraged accounts wiped out in just a few minutes, turning previously accumulated profits and principal into nothing.

Unexpectedly, the catalyst for this market turmoil originated from Trump’s "tariff bomb" thrown the day before. On October 10, Trump suddenly announced plans to impose a 100% tariff on Chinese goods and proposed new trade control measures. This news first triggered a 3.5% fall in the U.S. stock futures market, which then spread to the crypto assets market like a domino effect, ultimately leading to the market disaster known as "1011."

This event highlights once again the close connection between the Crypto Assets market and global economic policies, as well as its high sensitivity to geopolitical factors. It also reminds investors that when engaging in Crypto Assets investment, they should not only follow the internal dynamics of the industry but also closely monitor changes in the global economic and political landscape.

In the face of such drastic market fluctuations, industry experts are calling for investors to remain calm and emphasize the importance of long-term investment strategies. At the same time, this event has sparked in-depth reflection on the regulation and risk management mechanisms of the crypto assets market, which may drive adjustments and improvements in related policies.

As the market gradually stabilizes, investors are beginning to reassess their portfolios and risk tolerance. Although the market may still face challenges in the short term, many analysts believe that this adjustment could provide new entry opportunities for long-term investors. However, they also warn that in such an uncertain environment, caution and rationality are more important than ever.