Biggest Bitcoin Liquidation of 2025 | What Caused It & What’s Next

The past 24 hours saw the biggest crypto liquidation of 2025, with $1.5–$1.9 billion wiped out and more than 400,000 traders liquidated. Longs took the hardest hit, with Ethereum down 6–9%, Bitcoin sliding to $112K, and Solana, XRP, and DOGE also shaken. Binance accounted for nearly half of the liquidations, while the largest single trade lost was a $12.7M BTC long on OKX. At the same time, gold surged to a new all-time high near $3,750 per ounce, showing how macro pressures and safe-haven demand are driving capital away from risk assets like crypto.

We’ll also zoom out to the bigger picture: funding rate signals on Coinglass, the Fed’s pause on rate cuts, and upcoming PCE inflation data shaping sentiment. Plus, we’ll cover the latest from Korea Blockchain Week 2025, where top builders and institutions are shaping the next phase of Web3. Is this massive liquidation just a healthy reset before an October rebound, or does gold’s rally signal a deeper risk-off shift? Join me as we break down the data, the macro backdrop, and the narratives shaping crypto right now.