History Today: The 1st anniversary of the epic liquidation of nearly US$20 billion since "1011"

At 5 a.m. on October 11, 2025, the cryptocurrency market suffered a rare "1011" plunge in history. During the 30-minute turmoil, Bitcoin continued to fall at a decline of about 1% per minute. At 5:19, the decline exceeded 4% in a single minute, and the market value dropped by nearly US$5000. In the end, the price of the currency closed at US$102,000, a total decline of 12% for the day. At the same time, Trump announced the resumption of the trade war that day, triggering a chain reaction in the market. The cryptocurrency market then suffered an all-round decline. The amount of open positions exceeded US$19.156 billion in 24 hours, and more than 1.6 million people suffered open positions. All data set a record high in contract transactions in ten years.