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Bitcoin's Wild Ride: A Week of Highs, Lows, and Surprises
USASunday, October 19, 2025
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Bitcoin Hits All-Time High Before Massive Crash
- All-time high: Bitcoin surged above $126,000.
- Largest liquidation: $19 billion wiped out in a single day.
- Bigger than FTX collapse: Market crash surpassed 2022's FTX collapse.
Market Shockwaves from Trump Tariff Threat
- Trigger: Reports suggested US President Donald Trump misunderstood China’s export controls.
- Impact: Threat of new tariffs sent shockwaves through the market.
- Price feeds: Some tokens briefly showed zero prices.
- Traders' losses: Years of gains lost in minutes.
Binance Steps In with $400 Million Relief Program
- Program details:
- $300 million in token vouchers.
- $100 million low-interest loan fund.
- Disclaimer: Binance does not accept liability for users’ losses.
- Issues faced:
- Technical problems preventing position closures.
- Interface glitches showing zero token prices.
- Ethena’s USDe: Binance linked to an exploit affecting the synthetic stablecoin.
JPMorgan to Offer Crypto Trading Services
- Shift in stance: Major US bank moving toward crypto trading.
- No custody plans: Crypto custody not part of immediate plans.
- Trading services: On the horizon for the bank.
Corporate Bitcoin Adoption Surges
- 38% increase: Number of companies holding Bitcoin up in three months.
- Total value: 172 companies hold Bitcoin worth $117 billion.
- Largest holder: Strategy holds over 640,000 BTC.
Elon Musk Praises Bitcoin’s Sound Money Principles
- Protection against debasement: Bitcoin offers stronger safeguards than fiat.
- Energy-intensive system: Musk highlights Bitcoin’s proof-of-work as “impossible to fake energy.”
- Debasement trade: Investors wary of the US dollar driving Bitcoin rally.
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