The tippedisk is a mathematical-mechanical archetype for a peculiar friction-induced instability phenomenon leading to the inversion of an unbalanced spinning disc, being reminiscent of (but different from) the well-known inversion of the tippetop. A reduced model of the tippedisk, in the form of a three-dimensional ordinary differential equation, has been derived recently, followed by a preliminary local stability analysis of stationary spinning solutions. In the current paper, a global analysis of the reduced system is pursued using the framework of singular perturbation theory. It is shown how the presence of friction leads to slow–fast dynamics and the creation of a two-dimensional slow manifold. Furthermore, it is revealed that a bifurcation scenario involving a homoclinic bifurcation and a Hopf bifurcation leads to an explanation of the inversion phenomenon. In particular, a closed-form condition for the critical spinning speed for the inversion phenomenon is derived. Hence, the tippedisk forms an excellent mathematical-mechanical problem for the analysis of global bifurcations in singularly perturbed dynamics.