The post $19 Billion Crypto Liquidation: Dogecoin Founder Breaks Silence, XRP Drops Out of Top 3, Ripple CEO Predicts Financial Shake-Up — Top Weekly Crypto News appeared on BitcoinEthereumNews.com.

Ethereum (ETH) price crashes on Friday Ethereum was crushed, with its price coming close to dropping below the $4,000 level. Ethereum (ETH), the flagship altcoin, has endured an extremely severe price drop amid a broader market correction. The cryptocurrency has come awfully close to plunging below the $4,000 level, reaching an intraday low of $4,096, according to CoinGecko data.   The sudden sell-off comes amid renewed trade tensions between the U.S. and China. Earlier today, major U.S. stock market indices, including the tech-heavy Nasdaq, moved sharply lower after the White House threatened to massively increase tariffs on Chinese goods.   The world’s second-largest economy has been accused of holding the world hostage with its rare earth metals.  That said, analyst Adam Kobeissi believes that the recent correction is an overreaction since the tariff threat is just a bargaining chip. “We believe trade talks between the US and China will resume after a little turbulence,” he said.   Dogecoin founder breaks silence on Uptober amid crypto dump DOGE creator Billy Markus has weighed in on the latest crypto market turmoil. Billy Markus, the co-creator of Dogecoin and one of the crypto community’s most outspoken figures, has shared his thoughts on the market’s sharp downturn during what traders had been calling “Uptober.”  In a post on X (formerly Twitter), Markus, also known as Shibetoshi Nakamoto, criticized the excessive optimism surrounding Uptober, a month traditionally associated with bullish momentum in digital assets, arguing that misplaced enthusiasm and speculative leverage contributed to the crash: “Anyone who said Uptober should be slapped in the face.” According to data from Coinglass, more than $19 billion in leveraged positions were liquidated in the past 24 hours, affecting over 1.6 million traders worldwide. More than $7 billion of these liquidations occurred in just one hour on Friday, marking an unprecedented wave of forced…

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Filed under: News - @ October 12, 2025 11:12 pm