Friday, October 10, saw the worst drop in the cryptocurrency market after President Donald Trump threatened to impose a 100% tariff on imports from China to the United States.
The total crypto market capitalization fell from $4.1 trillion to $3.6 trillion within hours of the announcement. Bitcoin also fell from over $122,000 to $105,000 during the crash, and other cryptocurrencies followed suit.
On Monday, October 13, there are signs of recovery. The total market capitalization has recovered to $3.8 trillion, and Bitcoin is trading well above the price of $114,500.
Related: What is Crypto? Cryptocurrency explained
But cryptanalysts say it’s too early to breathe a sigh of relief.
A popular crypto analyst, by the name of X, warned the trading community to leave the market as “big landfill” October 13 is approaching when both Bitcoin and altcoins will collapse.
Another popular crypto analyst, known as @Prosperous_w_ on X, shared his views on the social media platform.
While many altcoins reached their “absolute background” On Friday, most altcoins are still trading well above their lows and will see further corrections, they said. For example, SUI will again see a 42% correction, they predicted.
The market will now see strong resistance zones. Early buyers of the crisis are raking in profits and short traders are entering the fray, they noted.
“This combination usually brings another strong correction. I expect altcoins to pull back 20% to 50% from current levels.”
@Prosperous_w_ also predicted “one leg lower” for Bitcoin. They rejected the theory that this is the beginning of a bear market following the 4-year cycle trend. Instead, the market now follows the liquidity cycle and the economic cycle and this cycle will continue well into 2026, they predicted.
The analyst also shared his own trading plan for the future. they are “accumulating a lot” around current prices and sudden lows. Future positions range from 5x to 25x leverage, with higher leverage reserved for short-term trades and lower leverage for swing trades to sustain the next phase of expansion.