The cryptocurrency market experienced its largest liquidation event on October 10, with a total of $19.16 billion liquidated, according to Coinglass data. This record-breaking event was triggered by the imposition of US tariffs on China, surpassing previous major liquidation events from 2021. Notable past liquidations include those in April and May 2021, which saw $9.94 billion and $9.01 billion liquidated, respectively.