Bitcoin News Today: Amid $2.95B Crypto Liquidations, Blazpay's Presale and Chainlink's Deals Defy Market Turmoil

The cryptocurrency market experienced a dramatic surge in liquidations in late October 2025, with over $2.95 billion wiped out across leveraged positions in a 24-hour window, according to Coinotag data. The largest single liquidation event, a $6.09 million unwind on Hyperliquid's ETH-USD pair, underscored the heightened volatility in derivatives markets, the Coinotag data showed. Over 140,507 traders globally faced margin calls during the period, with short positions accounting for the bulk of the losses, the same Coinotag report noted.

The liquidation frenzy coincided with mixed signals from the broader crypto ecosystem. While Ethereum ETFs outperformed Bitcoin for the first time in weeks, raising $246 million in inflows compared to Bitcoin's $202 million, according to a Coinpedia report, the underlying price action told a different story. Bitcoin dipped 1.06% to $112,701, while Ethereum fell 2.15% to $4,010, reflecting ongoing pressure from leveraged traders and macroeconomic uncertainty, per Coinpedia's figures.

Amid the turbulence, Blazpay's audited crypto presale emerged as a rare bright spot. The project raised $925.7K in its second phase, selling 129.6 million BLAZ tokens at $0.0075 each, according to a GlobeNewswire release. With a third-party audit verifying smart contract security and transparency, the release said Blazpay attracted both retail and institutional investors ahead of its next price jump to $0.009375. The presale's gamified rewards system, which has distributed over $200K in incentives, further bolstered user engagement, the GlobeNewswire update added.

Chainlink (LINK) also showed resilience despite the broader sell-off. Partnerships with major institutions like ANZ, China AMC, and Fidelity International expanded its real-world utility, while derivatives data from Coinglass indicated a bullish bias, according to an FXStreet analysis. The token's price hovered near $17.83, with technical indicators suggesting a potential rally above $23 if key resistance levels hold, FXStreet's piece noted.

The liquidation data highlights the fragility of leveraged positions in crypto markets. Over the past four hours, $77.5 million in long liquidations and $15.3 million in short liquidations were recorded, with Bybit's BTCUSD pair witnessing the largest single unwind of $11 million, according to a Lookonchain post. Analysts warn that the concentration of risk in high-liquidity venues like Hyperliquid and Bybit could amplify future volatility, a separate Coinotag analysis observed.

As the market grapples with these dynamics, investors are closely monitoring developments in ETF flows, presale projects, and institutional adoption. The interplay between speculative trading and fundamental growth will likely define the next phase of the 2025 crypto cycle.