On October 29, 2025, the crypto market experienced significant turbulence following statements from the U.S. Federal Reserve. Bitcoin briefly fell to $108,000, sparking liquidations totaling $820.1 million across the crypto futures market. The bulk of losses came from traders holding long positions, amounting to $653.6 million, while short positions accounted for $166.5 million. Overall, 164,876 traders recorded losses, with Bitcoin and Ethereum liquidations standing at $365.4M and $188.6M, respectively.
Major platforms saw varying liquidation volumes: Hyperliquid led with $285M, followed by Bybit at nearly $225M, and Binance at over $146M. One of the largest individual liquidations reached $11M on Bybit.
The market reaction followed the Fed’s announcement of a 25 basis point rate cut, tempered by Chairman Jerome Powell’s cautious remarks, emphasizing that a December rate reduction is not guaranteed. Analysts attribute the sell-off to a classic “sell-the-news” response.
Nick Rack, director at LVRG Research, noted potential upside for risk assets:
“Despite short-term volatility, the winding down of quantitative tightening in December could signal renewed growth for cryptocurrencies like Bitcoin and Ethereum in the coming months.”
By the time of reporting, Bitcoin had rebounded to $111,336, highlighting the market’s resilience amid regulatory-driven swings.
