On the night of October 10–11, the cryptocurrency market experienced its largest one-day crash: approximately $19 billion in positions were liquidated in 24 hours. Bitcoin plummeted from record highs (around $122–126 thousand) to the $104–110 thousand range. Ethereum also lost a significant portion of its growth, falling more than 10% from its peak values.
Altcoins were particularly hard hit, with some falling by 20-30% or more.
The reasons for this collapse are linked to geopolitical shock (Trump’s announcement of 100% tariffs on Chinese technology), a cascade of liquidations in the leveraged sector, and panic among participants.
After the collapse, there has been an attempt at recovery: Bitcoin rose above $114,000 on the wave of a partial return of liquidity. However, the dynamics remain turbulent: resistance and support levels are constantly being tested. The total capitalization of the crypto market has fallen below $3.8 trillion. The decline has affected almost the entire market — most of the top 100 assets are trading in negative territory.
From the analysts’ point of view, the current correction is more controlled than panicked — market participants are taking profits and clearing overbought positions rather than fleeing the asset.
The US Federal Reserve (Fed) has expressed concern about the stability of the financial system and the risks associated with the growth of the stablecoin sector. The G20 Financial Stability Board (FSB) has highlighted “significant gaps” in the regulation of cryptocurrencies, especially in the cross-border aspect. The PYUSD/Paxos/PayPal case, where $300 trillion in tokens were accidentally issued due to a technical error, served as a reminder of how much centralized issuers control the mechanism of creating/destroying balances.
These facts reinforce the argument that market maturity and trust go hand in hand with regulatory development.
Source: https://www.fixygen.ua/news/20251020/obzor-rynka-kriptovalyut-ot-fixygen.html
