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- 💀 'Uptober' to 'Rektober' to Deadvember
💀 'Uptober' to 'Rektober' to Deadvember
$USDe, $wBETH, $BnSOL Auto-Liqs Bloodbath

Zcash ($ZEC.X ( ▼ 5.12% ) ) just did a 450% rally in one of the bloodiest weeks in crypto. While traders were getting liquidated left and right, one forgotten privacy coin came back from the dead (backed by names like Vitalik, Naval, and Barry Silbert). Why now?

Here’s what we got for you today:
👀 Detailed report of ~20B darkest meltdown
⭐ Legendary crypto black swan happens
⭐ $ZEC up 450%. Privacy coins are back?
🔥 Burning hot takes for the road

BITCOIN’S GREAT RESET… AGAIN 📉
Every cycle, it’s the same story: Wipe the leverage. Crush the tourists. Then send it again. This month’s BTC dump is not the first. And it won’t be the last.
But here’s what happened after every major flush in the last 2 years and why we think the next leg might be closer than you think.
⚠️ TLDR? You won’t find it here. As always, we’re keeping this one Telegram-only, no leaks. Only takes one scroll to see the setup. Don’t miss it.

On October 11, ~$20B vanished in 24 hours. Traders got wiped. Binance broke. Many are comparing this crash to the legendary black swan events in crypto history, like the COVID dump of March 2020 and the LUNA collapse in May 2022.
Here’s the full breakdown with key data, unseen charts, and what it means for your next move 👇

🦢 CRYPTO’S BLACK SWAN: ~$20B GONE IN 24H
Oct 11, 2025 will be remembered as a true crypto black swan and it started with one tweet.
Trump announced a 100% tariff on Chinese imports, effective Nov 1. The market panicked instantly. 😱
→ Within 1 hour, $7.5B in crypto was liquidated, growing to $19.2B in 24h, the largest liquidation event in history. $BTC.X ( ▲ 2.84% ) crashed to $102K, $ETH.X ( ▼ 4.48% ) to $3.4K, $SOL.X ( ▼ 11.64% ) dipped below $142, and 300B in market cap vanished.
Leverage traders got wiped, over 1.6 million positions liquidated
Hyperliquid saw over $10.27B in liquidations, outperforming even Binance
Binance froze under the traffic load. Some pairs (like ATOM/USDT) had absurd wicks to $0.001
Wrapped tokens depegged badly, $WBETH.X ( ▼ 4.86% ) dropped 88%, $BNSOL.X ( ▲ 8.01% ) and $USDE.X ( ▲ 0.28% ) followed
The community compared this event to COVID 2020, LUNA 2022, and FTX. It was that bad.
Binance later admitted an oracle pricing error, saying it caused the forced liquidations and weird price actions. They confirmed & was pushing urgent upgrades:
Shifted to conversion-based pricing
Added soft price floors to avoid flash crashes
Changed the oracle formula for wrapped tokens
Set manual review for older limit orders still sitting in the system (some from 2019!)
$283M in compensation will be paid in two rounds
Only users with actual losses caused by system errors (not market volatility) will be eligible
According to Arthur Hayes, the massive dump across the market was triggered by auto-liquidations on CEXes, especially from cross-margin positions.
Meanwhile, Cobie (host of the UpOnly podcast) said this was the biggest futures wipeout he’s ever witnessed.
→ He even joked that we might soon see a "whale corpse floating to the surface", implying a big fund might have blown up, just like 3AC did in 2021.
👉 And guess what? Rumors are already flying on X that Wintermute_t and Crypto(.)com might have been caught in the chaos.
Heycape pointed out a massive $700M deposit from Wintermute into Binance, speculating it was a last-ditch bailout attempt… which may now be gone.
Back to Cobie, he reflected that in recent weeks, markets kept going up, and everyone had that feeling:
"I’m not making money fast enough. Everyone else is getting rich quicker than me."
That mindset is a trap. It drives people to over-leverage. And when the crash comes? It’s hell for those who played too aggressively.
Interestingly, Hyperliquid kept running smoothly, with traders earning over $200M shorting BTC and ETH during the chaos → highlighting stark contrast in infra stability.
Even more brutal? One trader reportedly lost $19M in the dump. Others saw portfolios wiped in minutes.
Cobie called it “the harshest leverage wipeout since 2021,” and reminded us all. But after the brutal Oct 11 liquidation event, the market is bouncing hard.
Major coins are up 5–20%, led by $BNB.X ( ▲ 8.41% ) , which took the first leg of the rebound. Momentum is clearly shifting but it’s not all sunshine yet.
In the last 24 hours, $630M in derivatives got liquidated, mostly from shorts (67%). The pain flipped sides.
Meanwhile, Trump has now softened his stance, signaling a willingness to re-negotiate trade tensions with China. Whether that holds? No one knows. But the market is responding fast.
Everyone talks about buying blood. But truth is, most people freeze or can't execute when it counts.
“Uptober” and “Upbober” differ by just one letter. 🙏

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🕵️♂️ $ZEC UP 450%/MO. PRIVACY COINS ARE BACK?
While most of the market is still licking wounds from the $20B liquidation wipeout, one sector just roared back to life: privacy coins.
And Zcash ($ZEC.X ( ▼ 5.12% ) ) is leading the charge.
After years of being ignored, ZEC has pumped over 450% in just one month, hitting $282, a 4-year high, even as most altcoins collapsed.
So why is Zcash suddenly everywhere again?
It started with a series of bullish posts by Mert Mumtaz (CEO of Helius Labs), calling ZEC “severely undervalued” and predicting a $1,000 target
He highlighted Zcash’s superior privacy tech vs Monero, plus a smaller market cap (<$700M at the time)
Naval Ravikant jumped in, calling ZEC “insurance against Bitcoin”
Chris Burniske’s firm Placeholder published a detailed research note
Even Cobie, once a ZEC bear, hinted the current market is “different”
The domino effect kicked off a full social wave, Messari showed ZEC search interest up 1,000% on X. ZEC became the most discussed token of the week.
But Zcash didn’t move alone.
Railgun ($RAIL.X ( ▲ 42.18% ) ), a privacy protocol backed by Vitalik Buterin, surged 227% in the week, with major buzz around its integration with Kohaku SDK, a privacy toolkit for wallets like MetaMask and OKX Wallet.
Other privacy coins like Dash, Verge, Decred, and Tornado Cash also saw strong double-digit gains.
Why now?
Global surveillance is rising
The US Fed is data-blind during a gov shutdown, pushing rate cut bets
Traders are looking for “off-grid” assets in a climate of capital control fears
Privacy is becoming a hot narrative again, like it was in 2017–2018
Even as the rest of the market collapsed due to Trump’s tariff shock, ZEC kept climbing, a rare signal of strength in chaos.
Zcash might not hit $1,000 tomorrow. But privacy coins just stepped back onto the main stage guys!

🔥 BURNING HOT TAKES FOR THE ROAD
CZ is reportedly being considered for a presidential pardon by Trump’s team. He seems optimistic. Read the post
Momentum, the top DEX on Sui, is officially launching their native token MMT, and it's your chance to get in early. Read more
Forget waiting for TGE. Binance Wallet now lets you join top-tier projects early with its new Pre-TGE Prime Sale. Read more
Binance, OKX, and Crypto(.)com are blaming each other for $20B wiped out in minutes last weekend. Read more
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