- October 10 saw one of the largest crypto liquidation cascades ever, wiping out billions in leveraged positions and forcing a sharp fall in prices.
- Bitcoin, Ethereum, XRP, BNB, and SOL all participated in the rebound 24 hours later, pushing crypto m-cap back to $3.92 trillion.
- The relief rally was aided by softer rhetoric on U.S. trade policy, returning liquidity, short‐covering, and renewed demand from institutional investors.
The cryptocurrency market experienced a significant rebound over the past 24 hours, recovering from the sharp declines witnessed on October 10. This recovery was fueled by renewed investor optimism following U.S. President Donald Trump’s remarks suggesting a potential de-escalation of trade tensions with China. After the dust settled, traders and funds began covering shorts and buying the dip, which acted as a catalyst for a rebound.
Crypto m-cap recovers but is still below $4 trillion
The total cryptocurrency market capitalization has seen a notable increase of over 4% on Monday; however was still below the $4 trillion mark, according to CoinMarketCap data. Bitcoin (BTC) is trading at $115,330, up 3.09% from the previous close. Ethereum (ETH) has also experienced gains, currently priced at $4,167, reflecting an 8.5% increase. Other major cryptocurrencies, including XRP, BNB, and Solana (SOL), have shown positive price movements, indicating a broad-based market recovery.
Even the fear metrics like the Fear & Greed Index plunged into extreme fear territory, hinting that sentiment may have been oversold, which often precedes sharp recoveries.
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Top cryptocurrencies 24-hour performance
On Friday, Bitcoin slid from $121,000 to $109,000 in less than 8 hours, erasing all the ‘uptober rally’ gains. Total liquidations for the day were around $19 billion, with about $16.7 billion coming from long positions. Nearly $7 billion was wiped out in just one hour.
At the current price of $115,330, analysts suggest that a strong support level could be created around $111,000. They also anticipate that BTC could test the $120,000 resistance level if the positive momentum continues. Ethereum (ETH), on the other hand, has bounced back from a low of $3,803.10 to its current price of $4,154.39. The next resistance level is seen at $4,300, with support around $3,800. A sustained move above $4,200 could signal further bullish momentum.
Meanwhile, BNB has shown strength, trading between $1,149.21 and $1,320.59, with gains of over 15% in the last 24 hours. The current price of $1,340.52 suggests a bullish trend, with the next resistance at $1,350, while Support is observed around $1,200. Similarly, XRP too experienced significant volatility but has managed to claw back to $30 billion in market value after last week’s tariff-driven collapse. The rebound was driven by a surge in institutional trading, showing that investors were actively buying the dip while waiting for new economic news.
Even as the rebound looks promising, it could still be fragile. If macro headwinds like renewed tariff threats or central bank hawkishness re-emerge, the rally could stall. Also, without sustained volumes, price moves may lack conviction. However, analysts are still optimistic and suggest that with many top coins having dropped into oversold territory or key support zones, the timing could offer a good logical technical base for a bounce-back.
