AC Milan ($ACM) Retains 10% Gains Amid $1.16B Bitcoin and Ethereum Liquidations

Few tokens in the SportFi arena managed to stay above water on Friday, Oct. 9, amid $1.16B worth of crypto long-position liquidations, as Bitcoin and Ethereum fight to avoid a potential October bloodbath.

Ethereum trading positions worth $356 million were forcibly closed during the liquidation wave, according to a Coinotag report. Ethereum apparently bore the brunt of the liquidation, owing to the extent of its secondary futures trading market, which is reportedly 15 times that of its spot trading market.

The AC Milan Fan Token® ($ACM) was one of the few tokens to fight the slide on Friday, holding on to gains from mid-September, and even managing to record minor gains on the day.

AC Milan ($ACM) Price Analysis

The price of the AC Milan Fan Token® ($ACM) dipped during the market-wide decline late on Thursday, but fought back from a 24-hour low of $0.274 to reach a value of $0.288 by time of writing.

$ACM trade volume did fall from a weekly high of $4M, but still processed just over $1.4M worth of trades on the day.

Going back to $ACM’s monthly low of $0.255 in mid-September, the token’s current valuation of $0.288 marks 10.5% growth in the past three weeks.

The token recorded healthy, if not extravagant trade volume throughout September into October. As for why $ACM managed to stay above water compared to other SportFi tokens, sporting events may or may not be enough to explain it.

AC Milan currently sit 5th in Serie A, two points behind league-leaders AS Roma. Milan remain unbeaten so far, having won three games and drawn two.

Milan’s next game is against 10th-placed Sassuolo on Oct. 11, which Milan will be expected to win. Depending on how other results play out, Milan could climb to the top of the table.

Crypto Market’s $1.16B Futures Liquidations

As per Coinotag’s report, the crypto market was crowded with bets on rising prices, where an initial decline triggered forced selling that accelerated the fall. Around $1.05 billion of the liquidated positions were longs, i.e., trades that profit when prices rise.

Leveraged traders control positions larger than the money they put up. If losses leave them unable to meet an exchange’s minimum funding requirement, their trades are automatically closed. Selling to close long positions can push prices lower, triggering further liquidations.

ETH futures turnover at roughly 15 times spot trading, highlighting the prominence of contracts tied to price movements.

To put Thursday’s liquidations into perspective, the selloff that occurred during the crash of October 2025 was triggered by futures liquidations 16 times larger than the one that just occurred.

Greg Thomson: Fan Tokens Market Reporter