Sign up now for CryptoCodex<\/a>\u2014A free crypto newsletter that will get you ahead of the market<\/p>\n The bitcoin price dropped to under $107,000, down from a high of $123,000 yesterday and a bitcoin price all-time high of $126,000 earlier this week, with other top ten cryptocurrencies ethereum, XRP, BNB and solana suffering greater declines that saw $500 billion wiped from the combined crypto market. <\/p>\n Now, as fears swirl over the future of the U.S. dollar<\/a>, traders are bracing for further declines as the bitcoin price crash suddenly accelerates amid uncertainty over U.S. president Donald Trump\u2019s fresh China tariffs.<\/p>\n Sign up now for the free CryptoCodex<\/a>\u2014A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run<\/p>\n Forbes\u2018Cascade\u2019 Price Warning Puts Bitcoin On The Brink Ahead Of Imminent BlackRock $100 Billion Turning PointBy Billy Bambrough<\/a> U.S. president Donald Trump has embraced bitcoin and crypto, helping the bitcoin price to soar along with the wider ethereum, XRP, BNB, solana and crypto market.<\/p>\n Getty Images<\/p>\n \u201cA flash crash of liquidations saw almost $7 billion wiped across all markets within one hour, with $5.5 billion coming from longs,” Sean Dawson, head of research at leading onchain options platform Derive.xyz, wrote in emailed comments.<\/p>\n \u201cBitcoin and ethereum accounted for $3.3 billion of those liquidations. In total, almost $9.6 billion in positions have been liquidated over the past 24 hours, marking the largest single-day wipeout in crypto history.”<\/p>\n 10\/12 update: The sudden bitcoin price and crypto market \u201cflash crash\u201d has left traders reeling. <\/p>\n \u201cRarely does the crypto market leave you speechless,\u201d Lark Davis, a crypto market analyst and writer of the Wealth Mastery newsletter, wrote in an emailed note and pointing to the more than \u201c$19 billion in liquidations in the past 24 hours \u2026 worse than Covid and worse than [the] FTX\u201d-led market meltdown. \u201cIt\u2019s a sad day for the market and a lot of people are hurting.\u201d<\/p>\n Bitcoin\u2019s rapid collapse from just under its all-time high of $126,000 to under $110,000 in a matter of minutes sent shockwaves through the wider crypto market as some smaller coins were all but wiped out before bouncing back.<\/p>\n The bitcoin price \u201cflash crash,” coming outside of the traditional market trading hours, has led to a warning over the wildly popular bitcoin exchange-traded funds (ETFs), led by BlackRock\u2019s near-$100 billion IBIT, which are bound by stock market opening times, leaving holders unable to react to weekend bitcoin price swings.<\/p>\n \u201cThe extreme volatility in the price of bitcoin overnight highlights why institutional investors increasingly view access to 24\/7 liquidity as essential to prudent risk management,” Tommy Doyle, global head of relationship management at Xapo Bank, said in emailed comments. <\/p>\n \u201cWhilst bitcoin ETFs remain bound by traditional market trading hours, institutional investors with direct bitcoin accounts can continue to access liquidity and risk manage their bitcoin exposure throughout the weekend, especially relevant amid recent seismic price moves.\u201d<\/p>\n The sudden sell-off was sparked by Trump announcing a 100% tariff on China imports, accusing the country of taking an “extraordinarily aggressive position” on trade.<\/p>\n \u201cMarkets are reeling after Trump\u2019s surprise China tariff deadline reignited volatility, driving bitcoin toward $100,000 and triggering one of the largest liquidation events in crypto history,\u201d 10x Research analysts led by chief executive Markus Thielen wrote in an emailed note, that sounded a note of optimism amongst the carnage.<\/p>\n \u201cWith $8 billion in forced liquidations, altcoins collapsing multiple times more than bitcoin, and funding rates turning deeply negative, the setup is both chaotic\u2014and full of opportunity.\u201d<\/p>\n![\"bitcoin,](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/10\/1760289311_905_960x0.jpg\")
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