After the biggest crash of the year and liquidations totaling tens of billions of dollars, the crypto market rapidly recovered. The trigger was a comment by Donald Trump, who stated that investors ‘should not worry about China.’ Following this statement, market sentiment changed sharply, and major tokens showed a strong rebound.
The market revived after $19 billion in liquidations
On October 11, the crypto market experienced one of the most dramatic crashes in history — $19 billion in positions were liquidated, and according to analysts, real losses could have reached $300–400 billion when accounting for unreported data. However, by October 12, the situation had changed: the volume of liquidations over the day dropped to $772 million, indicating stabilization.
Bitcoin rose 1.9% over the past 24 hours to $114,184, Ethereum — by 8.2% to $4,129, Solana added 6.3%, XRP — 2.4%, and Dogecoin grew by 7.6%. The total market capitalization reached $3.85 trillion, gaining almost 10% from the lows recorded two days ago.
‘Don’t worry about China’: Trump’s words restored optimism
The American president tried to calm investors after the panic caused by the announcement of a 100% tariff on imports from China, which triggered sell-offs across all markets.
In his post on Truth Social, Trump wrote:
‘Don’t worry about China — everything will be fine! President Xi just went through a tough time. He doesn’t want a depression for his country, and neither do I. The US wants to help China, not hurt it.’
Following this statement, daily trading volume rose to $387.5 billion, and open interest increased by 7.1% to $165 billion, indicating a resumption of speculative activity after a sharp drop in positions.
Exchanges recovered after overload
During the crash, the largest platforms — Binance, Bybit, and OKX — faced technical issues: orders were delayed, and some services were temporarily disabled due to mass liquidations.
By the end of the week, exchanges reported a return to normal operations and confirmed that users’ funds were safe.
According to CoinGlass, in the past 24 hours Binance accounted for $256 million in liquidations, Bybit — $156 million, and Hyperliquid — $150 million.
Altcoins led the recovery
In addition to Bitcoin and Ethereum, almost all major tokens showed growth. Chainlink and Avalanche added about 7%, and Zcash, which surged during the crash, continued to strengthen, rising another 2% to $253.
Amid the recovery, interest also appeared in lesser-known assets. ASTER, XPL, and PUMP rose by 9–13%, indicating that retail traders’ appetite for risk remains.
What’s next?
Analysts note that the quick rebound after record liquidations points to the market’s resilience and continued optimism among investors. Nevertheless, the recovery does not mean final stabilization: geopolitical risks and high volatility remain.
In the coming days, market participants will be watching the actions of the Fed and China’s response to the new tariffs. If tensions do not escalate, the crypto market may continue to move upward and regain some of its lost positions.
Read more: Zcash up 520% in a month: will the ZEC rally continue in October
