Crypto Is Back on Track!
The crypto market rebounded sharply on Monday (October 13th) after experiencing a major downturn over the weekend, driven by easing concerns about a trade war between the US and China. According to CoinGecko data, the combined market value of all crypto assets rose more than 6% to surpass $4 trillion. Bitcoin recovered to around $115,000 after briefly dropping below $105,000, while Ether also climbed to around $4,100.
This surge came after President Donald Trump and Vice President JD Vance signaled an openness to negotiations with Beijing, easing tensions that had rocked global markets. The announcement of new tariffs against China had previously wiped out approximately $19 billion in crypto positions and triggered a major sell-off due to thin liquidity and automated selling. Although most altcoins remain stuck below early October levels, analysts believe this rebound provides a more stable market foundation.
The weekend's incidents also shook crypto infrastructure: the Ethereum USDe stablecoin briefly lost its dollar peg, while Binance experienced technical disruptions and saw more than 1.6 million traders liquidated. However, there are no indications of a major bankruptcy like the FTX case in 2022. Analysts say that a sharp reduction in leverage could actually help improve the market's health in the medium term, especially after the recent extreme price volatility. (asd)
Source: Newsmaker.id
