The total cryptocurrency market capitalization impressively rebounded over $4 trillion on Sunday, largely recouping losses from Friday's crash that had wiped out nearly $500 billion. This recovery was spearheaded by significant double-digit gains in major altcoins like Ether (ETH), BNB, and Dogecoin, which surged 10.5%, 13.6%, and 12.5% respectively. Other prominent altcoins, including Solana (SOL), Cardano (ADA), and Chainlink (LINK), also saw gains exceeding 10%. Notably, Synthetix (SNX) briefly jumped over 100%, even surpassing its pre-crash levels and setting a new 2025 high, with smaller-cap coins like Mantle (MNT) and Bittensor (TAO) also increasing by over 30%.
The market downturn was initially triggered by US President Donald Trump's announcement of a 100% tariff on China, intended to restrict rare earth mineral exports crucial for computer chip manufacturing. The situation was compounded by technical glitches, including Binance's front end briefly displaying $0 prices for several altcoins and the depegging of the USDe synthetic dollar on Binance due to an oracle issue.
The market began its recovery after Trump softened his stance on China, stating an intent to help rather than harm the nation. While prices haven't fully returned to pre-crash levels, the rebound has ignited optimism among analysts, with many forecasting Bitcoin (BTC) could still reach $200,000 before the end of 2025. Crypto analyst Mister Crypto highlighted Bitcoin retesting the "golden cross," a bullish technical pattern historically preceding significant rallies. Similarly, crypto trader Alex Becker and Jan3 founder Samson Mow expressed strong confidence in the start of a new bull market.
Meanwhile, institutional players capitalized on the dip. BitMine Immersion Technologies, a major corporate Ether treasury company, acquired over 128,700 ETH worth $480 million post-crash, with Executive Chairman Tom Lee viewing the pullback as a "good buying opportunity." Michael Saylor, Executive Chairman of Strategy, hinted at his company buying the dip, posting a chart of their Bitcoin holdings. Additionally, Bitcoin miner MARA Holdings purchased 400 Bitcoin totaling $46.3 million. Bitcoin is currently trading around $115,585, still below its pre-dip levels but showing strong recovery signs.
October 2025, Cryptoniteuae