Crypto Market Collapses: $19 Billion Liquidated in Historic Shakeout

The cryptocurrency market experienced a devastating shakeout this week, with over $19 billion in leveraged positions being liquidated within just 24 hours. This unprecedented event has left traders reeling and marked the largest single-day collapse in history. Driven by a perfect storm of factors including overleveraged positions collapsing, heightened regulatory pressure, and investor fear following major token implosions, this crash saw even established cryptocurrencies plummet dramatically. Analysts are comparing the sudden shakeout to previous market meltdowns like the LUNA crash and the FTX implosion, highlighting its severity.