TLDR
- Bitcoin plunged from $126K to $104K in 10 days, wiping $20B from Satoshi’s net worth.
- Over $19.3B in crypto positions were liquidated during the historic market crash.
- US tariffs on Chinese goods triggered a 15% market drop and investor panic.
- A crypto whale earned $192M by shorting Bitcoin before the market collapse.
The world’s most famous anonymous figure in finance, Satoshi Nakamoto, has seen his fortune shrink by $20 billion in ten days. The decline follows a sharp downturn in the global cryptocurrency market that sent Bitcoin to an intraday low of $103,856 on Friday. Despite the losses, Satoshi remains among the world’s wealthiest individuals, still ranking above Alice Walton and Michael Bloomberg, according to data from Arkham Intelligence.
Satoshi’s Hidden Fortune and Market Exposure
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own around 1.1 million BTC. The estimate was first made by blockchain researcher Sergio Demian Lerner, who traced early mining activity linked to a unique pattern in Bitcoin’s first blocks. These coins have never moved, fueling theories that the private keys could be lost or that Satoshi may no longer be alive.
During Bitcoin’s rally earlier this month, Satoshi’s holdings were valued at more than $130 billion when the cryptocurrency hit its record high of $126,080. However, the value has now dropped in line with the broader market. Analysts note that while many early wallets have shown activity, Satoshi’s remain completely untouched since their creation.
Market Downturn Triggered by Global Tensions
Bitcoin’s sharp decline has been linked to renewed geopolitical tension between the United States and China. The market reacted strongly after U.S. President Donald Trump announced 100% tariffs on Chinese goods, including technology products and rare earth minerals. The announcement led to global uncertainty, pushing investors away from risk assets such as cryptocurrencies.
Within days, Bitcoin fell from $126,000 on October 7 to $104,782 on October 17, before partially recovering to trade near $107,367.98. The total cryptocurrency market capitalization dropped from around $4.3 trillion to $3.63 trillion, a decline of roughly 15%. Ethereum and Solana also posted losses of 14% and 22.76% respectively during the same period.
Historic Liquidations and Market Panic
According to Coinglass, more than $19.3 billion in leveraged positions were liquidated between October 10 and 11, marking one of the largest events in crypto history. The rapid fall triggered automatic sell-offs as overleveraged traders faced forced liquidations. Long positions accounted for $711.24 million of the total, while short positions contributed $308.30 million.
Market analysts reported that the sell-off was worsened by thin weekend trading volumes and panic-driven selling among retail investors. Social media activity amplified fear, leading many to exit positions hastily. Some investors, however, used the downturn to take profits and reduce risk exposure, temporarily stabilizing prices after the initial crash.
Whales and Strategic Market Moves
Large investors, often referred to as whales, were also active during the volatility. Arkham reported that one whale made $192 million by shorting the market before the crash. This same trader has reportedly reopened a new short position worth $163 million on the decentralized exchange Hyperliquid.
On-chain data suggests that this new trade, valued at around $209 million with leverage, reflects continued bearish sentiment among large holders. Analysts believe that such high-risk positions could influence market momentum in the coming weeks as traders brace for further volatility.
Bitcoin’s correction has once again reminded investors of the cryptocurrency’s unpredictable nature. As prices fluctuate, even the market’s most mysterious and wealthy figure, Satoshi Nakamoto, remains at the mercy of global events and investor sentiment.
