Overview
- Global crypto capitalization tracked by CoinGecko has fallen about 25% from the October 6 peak, a roughly $1.2 trillion decline cited by the Financial Times.
- Bitcoin has dropped more than 28% from its recent high and trades around $91,500 after briefly slipping below $90,000 for the first time since April.
- The sharpest single-day turmoil came on October 10, when President Trump’s tariff threat prompted about $20 billion in leveraged crypto positions to be liquidated.
- High leverage, margin calls and automated liquidations amplified selling pressure and turned losses into a cascading drawdown.
- Smaller meme-style tokens have been hit hardest, with Birdeye data showing roughly a 40% weekly drop, following earlier gains tied to pro-crypto political signals and a friendlier SEC leadership.