The October 11 Crypto Crash: Black Swan Event or Predictable Liquidity Cascade?
Over $19 billion in crypto positions were liquidated on October 11th, shaking BTC, ETH, and Solana. This article dissects the record crash, arguing it was a predictable liquidity cascade (Gray Rhino) fueled by historically high open interest and geopolitical risk from Trump's tariffs, rather than an unpredictable Black Swan.