Crypto Community Blames Binance, Wintermute, Trump for the 10/11 Market Crash

The cryptocurrency market experienced a devastating crash on 10/11, with Bitcoin plummeting to $104,582 and Ethereum dropping to $3,460 as over $500 billion in total market capitalization vanished. The massive sell-off triggered approximately $20 billion in liquidations across major crypto assets, marking what traders are calling the largest market crash of its kind.

The crypto community has directed blame toward major players including Binance, market maker Wintermute, and Trump-related developments for catalyzing the dramatic price decline. Bitcoin's sharp correction from recent highs sent shockwaves through the broader cryptocurrency ecosystem, affecting altcoins and DeFi tokens across all timeframes.

This market crash highlights the continued volatility in digital asset markets, where massive liquidation events can rapidly accelerate price movements. The $20 billion in forced selling created cascading effects throughout the blockchain ecosystem, impacting both institutional and retail cryptocurrency investors. As the market attempts to find stability, traders are closely monitoring support levels for Bitcoin and Ethereum while assessing the broader implications for cryptocurrency adoption and market sentiment moving forward.