On October 10, 2025, the cryptocurrency market experienced a significant downturn, with over $19 billion in leveraged positions liquidated within 24 hours. The decline was triggered by the announcement of a 100% tariff on Chinese imports, which led to a cascade of forced sales.
Bitcoin prices fell by approximately 12–17% from an all-time high of around $126,000 during the crash. By early October 2026, Bitcoin was trading between $80,000 and $87,000. Institutional interest remains active, with US spot Bitcoin ETFs recording inflows of $102.7 million in a single day in October 2026.
The altcoin market has struggled to recover its liquidity. Open interest in altcoin futures dropped from approximately $70 billion before the crash to around $30 billion by mid-December 2025. Additionally, the duration of median altcoin rallies decreased from 60 days in 2024 to roughly 19–20 days in 2025.
