The latest data from BitTrend has provided significant insights into the evolution of the crypto derivatives market, particularly focusing on the trends observed during 2025.

Daily Liquidations Averaged Between $400 Million and $500 Million

BitTrend’s comprehensive market report highlights crucial transformations within the sector for 2025. A notable incident was the liquidation spike that took place in October, marking a pivotal moment for traders.

This unprecedented liquidation episode unfolded on October 10th, coinciding with Bitcoin’s sharp drop following its peak above $126,000. The combined liquidations of both long and short positions reached an astounding $19 billion, setting a record for a single-day liquidation event within the crypto landscape.

To illustrate the gravity of the October 10th episode, the following chart summarizes the liquidation events that occurred throughout 2025.

Overall, the total value of liquidations in 2025 surpassed $150 billion, which translates to an average daily liquidation rate of approximately $400 million to $500 million.

Interestingly, many liquidation situations had minimal impact on the broader market, as detailed in the report:

On most trading days, the scope of liquidations remained within a range of tens to hundreds of millions, primarily indicating routine margin adjustments and the resolution of short-term positions amidst significant leverage.

However, the most impactful event was undoubtedly the deleveraging on October 10th. According to BitTrend, this event’s actual scale may have been even greater than initially reported:

Taking into account the timing of disclosures from different platforms and observations from market makers, the true scope of the liquidations likely approached $30 to $40 billion, significantly exceeding the second-largest event from the prior cycle.

Long positions bore the brunt of this volatility, with almost 85% to 90% of affected positions being bullish in nature.

This surge in liquidations also drove a marked increase in derivatives trading volumes across centralized exchanges, surpassing the annual averages significantly.

From the chart, it is clear that trading volume in crypto derivatives soared to $748.3 billion during the October 10th liquidation, nearly tripling the average yearly volume of $264.5 billion.

Additionally, while October 10th was the most pronounced spike, there were other significant volume increases throughout 2025, indicating that derivatives markets are crucial for establishing price dynamics and acting as a battleground for leverage-based speculation. As noted in the report, the overall trading volume for crypto derivatives in 2025 reached a staggering $85.70 trillion.

Current Bitcoin Market Status

As of now, Bitcoin is trading around $88,200, reflecting a healthy increase of over 2% in the past week.