On-chain analytics have clarified that real trader losses during the October 10 Bitcoin crash were $2.31 billion, significantly lower than the $19 billion in leveraged positions reported by media outlets. The $19 billion figure represented the nominal value of leveraged positions rather than actual capital lost. During the crash, Bitcoin longs incurred losses of $1.05 billion, while shorts lost $133.6 million. Ethereum traders saw $895 million in long positions and $229.7 million in short positions liquidated. The largest real liquidation event remains April 18, 2021, with $3.09 billion in losses.