Turns out there have been flash crashes in U.S. stock market history too. On May 6, 2010, the U.S. stock market experienced a flash crash, where within minutes, some stock prices dropped to just one cent, and the options market completely collapsed (buy price at $1, sell price at $5—basically no real market activity). The next day, regulators announced that all trades with prices 60% lower than pre-flash crash levels would be invalidated and canceled. In the crypto space, this time on 10/11, $19 billion was liquidated, with about one-third of it likely being low-leverage positions, which is why the final liquidation amount ended up being so massive. Leverage players might have made mistakes, but they don’t deserve to be completely wiped out. The mistakes were made by others, yet they bore the brunt of the consequences. If we referred to the U.S. stock market’s approach back then—invalidating trades 60% lower than pre-flash crash prices—the market impact would have been much smaller, and there might’ve been a chance for recovery. But now it’s tough. Decided to liquidate most of my positions and move to the more dynamic U.S. stock market.