【The total liquidation amount in the crypto market in 2025 has exceeded $150 billion】Golden Finance reports that, according to CoinGlass data, the liquidation amount in the crypto market in 2025 has surpassed $150 billion, with an average daily liquidation of $400 million to $500 million. On most trading days, the scale of long and short liquidations remains in the range of tens of millions to hundreds of millions of dollars, mainly reflecting daily margin adjustments and short-term position closures in a high leverage environment, with limited medium- and long-term impact on prices and structure. The pressure with systemic significance is concentrated in a few extreme event windows, among which the deleveraging event on October 10–11 in mid-October is the most typical.

On October 10, 2025, the entire market experienced an extreme peak in liquidation during the sample period, with total long and short liquidations exceeding $19 billion, far surpassing the previous single-day high in liquidation events. Based on the disclosure rhythm of some platforms and feedback from market makers, the actual nominal liquidation scale may approach $30–40 billion, several times higher than the second-highest event in the previous cycle.