The cryptocurrency market faced a significant downturn on October 10, with over 1.6 million investors losing $19.37 billion in leveraged positions within a single day. Smaller altcoins suffered the most, with values dropping between 60% and 80%, while Bitcoin and Ethereum experienced declines of 11% and 13%, respectively. Experts point to several factors behind the crash, including excessive leveraged trading, the absence of circuit breakers, and a tariff announcement by Donald Trump. Frank Chaparro from GSR highlighted the relative resilience of Bitcoin and Ethereum due to their size and institutional support. Meanwhile, Molly White cautioned that this event could foreshadow future market crises, though Juan Leon of Bitwise suggested that increased institutional participation might eventually stabilize volatility.