Bitcoin BTC $114,437.00 Mezo Wrapped BTC 2.82% Market capitalization $39.35 million VOL. 24 hours $3.74 billion and Ethereum ETH $4,158.89 Bridged Ether (StarkGate) 8.38% Market capitalization $0.1 billion VOL. 24 hours $3.25 billion are recovering from the biggest sell-off in the cryptocurrency market in recent years, which began on Friday and caused record liquidations. According to The Block, on Monday morning, Bitcoin rose by 3.4% to trade at $ 114,738, while on Friday the price temporarily fell below $ 105,000. Ethereum also recovered from a slump to $ 3,500, rising 9.6% to $ 4,132.
According to Coinglass, more than 1.6 million traders were liquidated on Friday, and their total volume reached $ 19.1 billion, the highest in the history of the crypto market. Presto Research analyst Rick Maeda explained that the drop was triggered by macroeconomic news rather than internal events in the cryptocurrency sector. China announced new restrictions on the export of rare earth materials, and the United States announced plans to impose a 100% duty on imports of Chinese technology.
Maeda added that the sales overlapped with a period of low liquidity over the weekend, which caused avalanche-like liquidations. «The recovery is now partly technical in nature — excessive leverage has been eliminated, cascading sales have stopped, and the market is not too concerned about tariffs, as Polymarket estimates the probability of their introduction by November 1 at only 15%,» he said.
Despite the «weekend swings,» analysts believe that the seasonal October growth, known as Uptober, is not yet over. Vincent Liu, chief investment officer at Kronos Research, notes that liquidity is returning, and the market is showing new demand for risky assets after deleveraging and easing tariff fears. «The Uptober trend is alive and well — investors are actively buying up the dips. Everyone is now watching tariffs, dollar dynamics, and key trend levels to see if the real bullish momentum will resume,» he said.
Nasar Ashkar of CoinW and Nick Ruck of LVRG Research agree that the market is gradually stabilizing. Ashkar believes that the next signals will come from US inflation data, the Federal Reserve’s decision, and the dynamics of institutional flows into crypto ETFs. At the same time, according to Maeda, the scale of liquidations has left a «psychological scar» on the market — traders will become more cautious and closely monitor macroeconomic risks, especially the development of the trade conflict between the US and China.