$1.9 billion in encrypted assets disappeared in one day and 1.6 million traders were forced to settle down

According to a market structure analysis, on 10 October 2025, the market for encrypted derivatives forced the silo of over $19 billion, involving 1.6 million traders. In 2026, there were three one-day, $1 billion-grade flat tides. Most encryption speculation does not take place in spot markets, but rather in sustainable contracts and derivatives markets。