*Why the market got crushed*
- *Macro risk‑off* – The Fed stayed hawkish, Japanese yields spiked and the U.S. debt ceiling drama spooked investors, pulling money out of risk assets . ¹ ²
- *Geopolitical shock* – President Trump’s 100 % tariff on Chinese imports triggered a flash crash in October, wiping out $19 billion in leveraged positions and dragging the whole crypto sector down . ³ ⁴
- *Leverage purge* – After the October flash crash, order books were thin. Small sell‑offs turned into waterfalls as $800 million‑$2 billion of long positions were liquidated in a single day .
- *Regulatory headwinds* – Tightening rules in the U.S. and Europe added uncertainty, keeping institutional demand muted .
In short, a perfect storm of tighter monetary policy, a geopolitical tariff shock, and a wave of forced liquidations turned a modest dip into a market‑wide crush. If you’re watching any particular coin or want to know what to watch next, just let me know!
