@haroonurd

So after October 10th, something in the crypto market clearly broke and the data backs it up. In less than 24 hours, we saw the largest liquidation event in crypto history: nearly $20B wiped out. Since October 1st, total liquidations have crossed $41B. What makes this unusual is the complete lack of a major trigger. No macro shock. No protocol failure. No exchange collapse. No black-swan news. Yet the BTC market kept bleeding while traditional markets were hitting new highs S&P 500 climbing, NVIDIA smashing earnings but crypto didn’t even manage a dead-cat bounce. No rotation. No relief rally. Just forced selling, brief pauses, then more selling. Every small recovery attempt got slammed by another wave of long liquidations. Even on global green days, crypto randomly nuked anywhere from $100M to $1B in leveraged positions. That type of repeated pattern usually points to one of three things: 1. A major institution unwinding positions 2. Structural deleveraging inside big trading firms 3. Thin order books creating liquidity gaps Yet nobody has explained what actually happened. No fund came forward. No statement. No on-chain smoking gun. And the damage didn’t stop for 45 days the market structure stayed distorted. Traders wiped out, open interest collapsed, even top trading pairs started showing liquidity droughts. A $41B flush in six weeks with $20B in one day demands answers. This is why the Digital Asset Market Clarity Act matters. The problem isn’t just liquidations… it’s the complete lack of transparency. Crypto doesn’t only need stability it needs clarity.

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