Technical glitch, Trump, or conspiracy? Ukrainian crypto investors on the consequences of the crypto market crash.
Friday, October 10, 2025, became a "black day" for the cryptocurrency market. Amidst the escalation of the trade war between the US and China, crypto assets lost billions of dollars in capitalization in a matter of hours. The massive drop in Bitcoin and Ethereum triggered the largest wave of futures position liquidations in history – over $19 billion in a single day, according to
According to quotes, at the beginning of October 10th, Bitcoin was trading around $122,600, but within a few hours, at the peak of the collapse, it fell below $105,000, and Ethereum from $4,390 to $3,500. Dogecoin and Cardano suffered the biggest losses, losing over 20%. In total, over 1.6 million traders were subjected to forced liquidations, mostly on long positions.
The exchange recorded an absolute record low. Hyperliquid, where positions worth $10.3 billion were closed, and one user lost over $203 million – the largest single liquidation in the history of the cryptocurrency market.
Ukraine is one of the world's leaders by the volume of cryptocurrency usage. From July 2023 to July 2024 country received $106 billion in cryptocurrency inflows and spent $882 million (in hryvnia equivalent) on buying Bitcoins. The correspondent LIGA.net I asked five crypto investors about what they thought had happened, how much they had lost, and what they predicted in the medium term.
Subscribe to LIGA PRO to read this article. Go to the full version of the page.
Comments