The crypto market is still reeling 24–36 hours after what many now call the largest one‑day wipeout in history.Over $19 billion in market value evaporated after President Trump’s 100% tariffs on Chinese tech imports triggered a global risk‑off panic.
And even though the freefall has slowed, the charts aren’t exactly screaming recovery yet.
Altcoins Struggle to Recover
Most major altcoins are still deep in the red. Some tokens haven’t even started to bounce – a few even dropped lower overnight.
Solana (SOL) briefly plunged to $175 before managing to climb back above $180 today. It’s a weak recovery, but at least it stopped the bleeding for now.
XRP had its own scare, sliding below $2.40 before finding some footing near that zone. And Ethereum (ETH) dropped as low as $3,700 before slowly recovering above $3,800, signaling that the worst might be over – at least temporarily.
But overall, sentiment remains bruised. As one trader put it: “The bloodbath might be over, but the wounds are still fresh.”
“Altcoin Market Is Dead” – Analyst CryptoBullet
Popular analyst CryptoBullet summed up the mood perfectly in a short but brutal post:
“After this flash crash, the altcoin market is dead.”
He pointed to the RSI sitting at 29 on the daily total crypto market chart – deep in the oversold zone, which historically suggests a short‑term bounce could be near. But even he admitted that this bounce, if it comes, would likely be more technical than fundamental.
CryptoBullet’s message hits hard: when investors see top‑20 coins collapsing 60–80% in a single hour, and some even briefly flashing zero on charts, confidence takes a massive hit.
Some thoughts
— CryptoBullet (@CryptoBullet1) October 11, 2025
After this flash crash the Altcoin market is dead.
Imagine you’re new to crypto and want to invest, but you see how the top 20 altcoins dropped 60-80% in a single 1h candle and some multi‑billion dollar coins actually touched ZERO.
Will you invest? Hell no.…
Greed Is the Only Way Back
His logic is raw but real. Imagine being new to crypto – you just saw multi‑billion‑dollar coins go to zero in minutes. Would you invest? Probably not.
So what will bring people back in? Greed. Plain and simple.
The only thing that can reverse this kind of market trauma is another euphoric rally – prices going so high that fear turns into FOMO again.
That’s what CryptoBullet hints at:
“Now they have to pump this to astronomical numbers to make people forget this collapse.”
Short‑Term Outlook
The good news is that extreme fear and oversold conditions often precede strong rebounds. The bad news? Nobody knows when or how sharp that rebound will be.
For now, the charts say the bleeding has stopped. But whether this is just a dead‑cat bounce or the start of something bigger – the next few days will tell.