A crypto selloff triggered by macro tensions wiped out $19.37 billion in leveraged trades in just 24 hours. However, now that the storm has passed and the chips have fallen where they did, let’s look at how the two biggest cryptocurrencies are faring at the moment.

But first, a precursor. On 10 October, 2025, US President Trump announced his trade war against China in a response to China restricting rate earth mineral exports.

Crypto Liquidation Heatmap CoinGlass

(Source: CoinGecko)

He said, “Based on the fact that China has taken this unprecedented position, and speaking only for the U.S.A., and not other Nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying.”

Additionally, he announced export control of critical software, that drove the speculation of a full blown tariff war between the two countries, crashing the crypto market.

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Bitcoin

Bitcoin





1.82%








Bitcoin

Bitcoin
BTC


Price

$114,231.28

1.82% /24h





Volume in 24h


$77.96B
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Price 7d

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dropped to $107,468 on Friday, before bouncing back to close at $114,559 down nearly 6% for the day. The price action saw a brief uptick and touched $110,000 again, before slipping by 1.82% on Saturday to end at $112,69.

Market Cap





For now, BTC is trading below its 50-day EMA, but has maintained its position above the 200 EMA, signaling a bearish short-term but the long-term bullish sentiment is intact.

BTC Chart TradingView

Source: TradingView

If it breaches through $115,000 it would bring its 50-day EMA into play. If it manages to hold and sustain above that level, it is possible for BTC’s price to move towards the $125,761 level.

On the flipside, if BTC falls below $110k, the next major support is at $100,000.

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ETH Stable At $3,825 After Huge Crypto Selloff

Panic liquidations saw ETH price slip briefly to around $3,500. Since then however, ETH has bounced back to reclaim the support level at $3,825. It is currently trading at



.

Market Cap





A whale shorted $600 million in Bitcoin and $300 million in ETH, contributing to nearly $19 billion in a crypto selloff, one of the biggest in recent history.

Analysis Donald Dean noted that $3,825 is now the key short-term support level. However, this depends as macro developments could lead to more downsides the coming week.

Despite the recent shakedown, ETH’s technical setup is still promising. Dean pointed out to a bull flag pattern forming on the daily chart, which signals a potential rebound if ETH maintains about $3,875.

If the support holds, ETH can potentially target resistance levels between $4,500 and 5,766. On the flipside, a drop below $3,500 could lead to deeper support zones.

ETHUSD Price Chart TradingView

(Source: TradingView)

Market analyst Alex Wacy stated that the recent shakedown has cleared excess leverage and weak hands, setting the stage for a strong rally and that ETH could reach a new ATH in the coming weeks.

According to Wacy, ETH could reach somewhere between $4,300 and $5,175 in October and around $12000 in the long term by late 2025.

EXPLORE: Best New Cryptocurrencies to Invest in 2025



5 hours ago

WLFI, Aster and Sonic Labs Launch Major Token Buybacks After The Crypto Crash

Arijit Mukherjee

By Arijit Mukherjee

After the world was witness to one of the worst crypto crashes in recent times, three altcoin projects have stepped in and launched massive token buybacks, meant to reduce selling pressure and restore confidence among users. 

World Liberty Financial (WLFI), announced a $10 million buyback using the USD1 stablecoin. According to blockchain data, the buyback was carried out gradually using a TWAP model, which helps spread purchases over time and avoid sharp price movements. 

The repurchased tokens will be removed from circulation to support price over time. 

Aster moved 100 million of its ASTR tokens from its treasury to buy back from the market, just after the platform rolled out its Stage 2 Airdrop Checker. 

Sonic Labs committed $6 million to purchase its native $S tokens, which were added to the treasury.

It emphasized that network remained stable despite the crash, with CEO stating that native assets may offer better long-term returns than relying on stablecoins. 

EXPLORE: Next 1000X Crypto – Here’s 10+ Crypto Tokens That Can Hit 1000x This Year



5 hours ago

Veteran Trader Peter Brandt Is Bullish On Bitcoin, XRP, Ethereum, and XLM

Arijit Mukherjee

By Arijit Mukherjee

Legendary trader Peter Brandt believes BTC, ETH,XRP and Stellar (XLM) could be getting ready to move higher. 

In his post on X, he shared that BTC’s chart looks similar to past patterns that led to big rallies. 

He also said the ETH is holding strong despite recent market drops. 

For XRP and XLM, Brandt pointed out signs of accumulation, meaning traders might be quietly buying the dip and that these coins could follow a similar path upwards. 

In short, his message being, short term volatility notwithstanding, long term setup for these assets look promising. 

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5 hours ago

BitForex CEO Linked To $735M BTC Short

Arijit Mukherjee

By Arijit Mukherjee

A recent on-chain investigation by crypto researcher “Eye”, has linked a mysterious whale on Hyperliquid who controls over 100,000 BTC to Garett Jin. 

Jun is the former CEO of BitForex, an exchange that was shut down following fraud allegations. 

In his post on X, Eye pointed out to the whale’s main wallet, named ereignis.eth. This wallet is connected to another ENS address, garrettjin.eth, which leads directly to Jin’s verified X account, @GarrettBullish, suggesting a strong link between the two. 

Eye explained, “The ENS name ereignis.eth (“event” in German) confirms his link to this wallet, identifying him as the actor behind the large-scale operations on Hyperliquid/Hyperunit.”

The wallet’s transaction history also lines up with Jin’s business dealings, including transfers to staking contracts and wallet funded by exchanges he was previously associated with, like Huobi (HTX). 

Also, the wallet received and sent funds tied to BitForex-related addresses and Binance deposits, which were used to execute massive trades, one of which involved $735 million worth of BTC.

Not everyone is convinced though. Crypto analyst Quinten François argued that the evidence is a little too convenient for his take. 

EXPLORE: 20+ Next Crypto to Explode in 2025

The post Can BTC And ETH Rebound After A $19B Liquidation Storm? appeared first on 99Bitcoins.





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