Bitcoin recovers above $114,000 as crypto market stabilizes from historic wipeout
Quick Take Bitcoin and Ethereum bounced back after the weekend’s crash that led to record liquidations. The “Uptober” sentiment might have been dented but “perhaps not derailed,” said one analyst.
Bitcoin, Ethereum and other major cryptocurrencies rebounded after a massive sell-off that began Friday and led to record liquidations across the market.
Bitcoin traded up 3% in the past 24 hours at $114,738 as of 00:45 a.m. ET on Monday, after it once plunged below $105,000 on Friday, according to The Block's price page . Ethereum also regained some ground, climbing 8.5% to $4,132 after sliding to around $3,500 at one stage.
Coinglass noted that over 1.6 million crypto traders were liquidated in a single day on Friday, with total liquidations amounting to $19.1 billion.
"The [Friday] wipeout was triggered by macro headlines rather than anything crypto-specific. Beijing announced new export curbs on rare-earth materials and Washington responded after markets closed with plans for a 100% tariff on Chinese tech imports," Rick Maeda, research associate of Presto Research, told The Block.
Maeda said that the sell-off hit during thin weekend liquidity, "causing billions in forced liquidations."
"The rebound since then is partly mechanical: leverage flushed out, cascades stabilised, and the market is seemingly not too concerned about the possibility of the tariffs as prediction markets like Polymarket are only pricing in a 15% chance that the tariff takes effect by Nov. 1, 2025," Maeda added.
'Uptober' still intact?
Vincent Liu, chief investment officer at Kronos Research, said liquidity is starting to return as markets rebound amid leverage resets and easing tariff concerns, "turning last weekend's panic into renewed risk appetite."
"Despite the weekend whiplash, the 'Uptober' uptrend stays alive as buyers boldly buy the dip," said Liu. "Traders are tracking tariffs, trendlines, and dollar strength to see whether BTC’s bounce can build back real bullish momentum."
Nassar Achkar, chief strategy officer of CoinW, also shared similar views, saying that the Uptober trend "remains intact," and traders are now watching key macroeconomic signals, "particularly the upcoming US CPI report and Federal Reserve meeting, along with the health of institutional ETF flows, to gauge the market's next direction."
Nick Ruck, director of LVRG Research, said that while the Uptober trend faces a test, the rebound has been supported by on-chain data showing whales are accumulating assets like Ethereum, and "technical indicators point to a confirmed market bottom for several oversold altcoins."
Maeda of Presto argued that the Uptober trend has been dented but "perhaps not derailed."
"[Given] the sheer size of the liquidations, which is understood to be the largest in crypto's history, the 'trauma' may remain as a heavy headwind to many market participants. Traders will also now be far more sensitive to macro tape bombs, especially around the US–China tariff spat," said Maeda.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin profit metric eyes 2-year lows in 'complete reset:' BTC analysis

Mars Morning News | After the Ethereum Fusaka upgrade, the blob base fee surged by 15 million times
Multiple blockchain industry updates: a Bitcoin OG wallet transferred 2,000 BTC; Cloudflare outage was not caused by a cyberattack; the DAT bubble has burst; Ethereum Fusaka upgrade fees have surged; LUNC has risen over 80% intraday. Summary generated by Mars AI. This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still under iterative improvement.

Drones, Fake Birdsong, and Broken Glass Traps: Malaysia is Undergoing an Unprecedented "Bitcoin Crackdown"
The Malaysian government is intensifying its crackdown on illegal bitcoin mining, utilizing technologies such as drones and sensors to uncover numerous operations, with electricity theft causing significant losses. Summary generated by Mars AI. The accuracy and completeness of the content generated by the Mars AI model are still in the process of iterative improvement.

Bitwise CIO: Stop Worrying, MicroStrategy Won't Sell Bitcoin
There are indeed many concerns in the crypto industry, but MicroStrategy selling bitcoin is definitely not one of them.

