The crypto market has been hit by a brutal weekend sell-off, with more than $19 billion in leveraged positions wiped out in 24 hours. Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are all trading deep in the red as renewed U.S.–China trade tensions and cascading liquidations hammer risk assets across the board.
At the time of writing, Bitcoin trades near $112,400, Ethereum has slipped toward $3,826.57, and Dogecoin hovers below $0.19, marking one of the most violent shakeouts since the FTX collapse
Bitcoin’s price collapsed by over 9.8% on Saturday, erasing nearly all its October gains and triggering what analysts call “one of the largest liquidation events in crypto history.” CoinGlass data shows that close to $20 billion in positions were flushed out within a single session, with long traders taking the biggest hit.
The sell-off began shortly after U.S. President Donald Trump announced a 100 % tariff on Chinese tech imports starting November 1, alongside fresh export controls on critical software. The statement reignited fears of a full-scale trade war with China, sending the Nasdaq and S&P 500 sharply lower and spilling over into digital assets.
Analysts call this drawdown “a necessary reset” in an overheated market, noting that Bitcoin remains in a broader uptrend despite the flush.
Some note that every cycle has its purge, the strong hands are watching for reclaim signals above $115,000 to re-enter.
Ethereum has joined Bitcoin in this weekend’s crypto bloodbath, tumbling under the weight of massive liquidations and renewed panic across the market. The Ethereum price plunged to $3,826.57, erasing nearly all of its October gains and coming within striking distance of the $3,700 support zone that traders have been defending for weeks.
The sudden reversal blindsided many short-term traders who had been betting on a quick rebound. As leveraged positions started getting liquidated across major exchanges, selling pressure on Ethereum snowballed. Long traders were forced to exit in a hurry, adding to the panic. Because Ethereum tends to move in lockstep with Bitcoin during volatile phases, the decline spread quickly across the altcoin market as investors shifted their funds into stablecoins to ride out the storm.
Ethereum briefly slipped beneath its 20-day moving average, a level that had underpinned the recent uptrend. That break sparked technical selling and a noticeable uptick in exchange inflows, often a sign that holders are moving coins off cold wallets to liquidate during panic conditions.
If the market fails to reclaim the $3,900–$4,000 area, Ethereum could slide toward $3,500, a zone that previously acted as a strong accumulation base in September. Still, analysts say that as long as ETH holds above $3,700, the broader uptrend remains intact, though sentiment right now is firmly risk-off.
Dogecoin has joined the broader crypto sell-off, sliding more than 12% today to trade near $0.19. The decline wiped roughly $4 billion from its market capitalization, which now stands around $28.9 billion, according to real-time market data.
The move follows Bitcoin’s and Ethereum’s steep weekend losses, underscoring how fragile sentiment has become across high-beta altcoins. Dogecoin’s drop accelerated once it broke below the $0.20 psychological support, triggering automated liquidations and stop-loss orders across major exchanges.
For a coin that thrives on retail enthusiasm, the sudden lack of bid volume was striking. Traders report thin order books and sharp wicks across spot and futures markets, a sign of panic-driven selling rather than coordinated profit-taking. In the span of a few hours, the meme-coin that once symbolized optimism turned into a barometer of fear.
Technically, Dogecoin now sits just above a critical support zone around $0.18–$0.19. Losing this range could open the door to a deeper correction toward $0.15, where previous accumulation took place in mid-September. On the upside, bulls need to reclaim $0.22 quickly to prove that this drop was a shakeout rather than the start of a longer retracement.
Dogecoin’s volatility often amplifies broader risk sentiment. When Bitcoin steadies, DOGE tends to rebound faster, but in today’s market, traders are cautious. For now, the focus remains on whether the meme-coin can hold its footing above $0.19, a level that may decide if this correction stabilizes or deepens further.
Despite the carnage, analysts remain divided on what comes next. Some argue that the market is forming a bullish higher low above the September bottom. Calling this a shakeout before the final leg higher, hinting that Bitcoin remains structurally strong.
For now, traders are eyeing $120,000 as the key resistance level to reclaim. A sustained move above that could restore bullish momentum toward $135,000. On the downside, $105,000–$108,000 remains critical support.
Meanwhile, the Fear and Greed Index has plunged from 72 (“Greed”) to 53 (“Fear”) in a single day, signaling shaken confidence but also potential opportunity for long-term investors.
While the $19 billion liquidation headline dominates sentiment, the underlying trend remains intact, crypto is still in a higher-lows structure on the monthly chart. The sell-off may well be remembered as a capitulation event rather than the start of a new bear market.
Veteran traders caution against panic. The market needed to flush excess leverage, and those who understand liquidity cycles will see this as a gift, not a threat.
As global markets adjust to the new tariff era, Bitcoin, Ethereum, and Dogecoin will remain the focus for traders watching whether crypto can rebound from one of its sharpest weekend crashes in recent memory.
Roughly $19–20 billion in leveraged positions were wiped out within 24 hours, making it one of the largest liquidation events in crypto history.
Not blindly. Focus on assets with strong on-chain activity and clear fundamentals. Scale in slowly rather than going all in during high volatility.
Recovery depends on macro sentiment and liquidity returning to markets. Historically, large wipeouts take weeks to stabilize before upside momentum resumes.
If Bitcoin reclaims $120,000, a move toward $135,000 becomes likely. But sustained weakness below $108,000 could extend the correction toward $100,000.
Use lower leverage, set stop-losses, and size positions so a normal market swing doesn’t wipe out your capital. Avoid overexposure when volatility spikes.
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This post was last modified on Oct 11, 2025, 15:38 BST 15:38