黑天鹅突袭，加密货币167万人爆仓超193亿美元

Core Viewpoint - The cryptocurrency market experienced a significant crash on October 11, with a record liquidation amount exceeding $19.3 billion and over 1.67 million accounts liquidated, marking it as one of the darkest days in the industry [1][5]. Market Performance - Major cryptocurrencies saw substantial declines, with Bitcoin dropping from a high of $122,000 to a low of $101,500, and closing at approximately $111,937.6, reflecting a 24-hour decrease of over 7.6% [3][4]. - Ethereum's price fell to as low as $3,400 before recovering to $3,828.09, resulting in a 24-hour drop of over 11% [3][4]. - Smaller market cap coins like Dogecoin and SUI experienced even more severe losses, with Dogecoin down by 22.82% and SUI down by 21.19% [4]. Liquidation Data - According to Coinglass, the total liquidation amount in the past 24 hours reached over $19.3 billion, with nearly 90% of the liquidations being long positions [5][6]. - The scale of this liquidation far exceeded previous crises in the cryptocurrency market, indicating a significant market stress [5]. Causes of the Crash - The crash was attributed to multiple market factors, including high leverage levels and a fragile market structure that triggered forced liquidations when prices fluctuated [8]. - Additionally, macroeconomic uncertainties, such as the announcement of increased tariffs by the U.S. on China, heightened global risk aversion, impacting cryptocurrency assets [8]. - The tightening liquidity in the market also contributed to increased volatility, as some institutional investors opted to remain on the sidelines [8].