Matrixport released today's chart saying, "Trump's threat to impose 100% tariffs on China has triggered a historic collapse in the crypto market, which coincides with high leverage and extreme optimism.
As prices fell, automatic strong orders on decentralized exchanges (DEXs) began triggering in a chain. With illiquidity and low volume, these positions squaring orders passively, further exacerbating the market sell-off. At one point, the Ethereum funding rate plummeted to -39%, one of the sharpest pullbacks in recent years, all but clearing the market of excessive leveraged positions.
Only a handful of traders benefited from the drop, and as volatility eased, there were signs that new long positions could be rebuilt. This historic "capitulation sell-off" completely reshaped the entire crypto market.
Matrixport: This "capitulation sell-off" has completely reshaped the position pattern of the entire crypto market
2025-10-13 03:07:49
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