Was this just an isolated incident, or is this the beginning of the Big Crash?  The carnage that we witnessed on Friday was absolutely breathtaking.  The largest single day wipeout in the history of the cryptocurrency industry was accompanied by a tech bloodbath of epic proportions.  Many investors that were very highly leveraged got absolutely monkey-hammered.  In particular, wave after wave of forced liquidations caused a cascading cryptocurrency crash that was unlike anything that we have ever seen before.  Approximately 19.2 billion dollars in leveraged positions were suddenly liquidated, and as a result the collective value of all cryptocurrencies fell by almost 800 billion dollars in just 24 hours…

The cryptocurrency market suffered a massive wipeout, erasing nearly $800 billion in value within 24 hours. Around $19.2 billion in leveraged positions were liquidated as panic spread across exchanges.

Bitcoin plunged to $110,951, marking a 16% drop, while Ethereum slipped to $3,795, down more than 12%. The total crypto market capitalization fell to $3.69 trillion, its sharpest single-day decline in months. Altcoins were hit even worse. XRP fell 25% to $2.34, and Dogecoin dropped 28% to $0.18. Solana slid to $177, Cardano fell over 25%, and BNB lost ground, trading near $1,122.

This was basically a "1929 event" for cryptocurrencies.

I wish that I was exaggerating, but I am not.

Some lesser known tokens lost nearly all of their value.

This is what happens when people borrow massive amounts of money and bet it on "sure things" that they think will never go down.

As Ash Crypto has aptly described, what we essentially witnessed was "a chain reaction in a highly leveraged game of musical chairs"…