Bitcoin and Ether dealers remain in waiting-and-SE mode, after last week’s Customs Schock dried out nearly $ 20 billion in geared positions over the weekend, taking confidence and risk-on mood among a majority of market participants.
The market’s mood has since changed from panic to fragile optimism as both Washington and Beijing tinted their rhetoric and offer a short break in what had looked like a brewery trafficking war.
Bitcoin rose 1.3% over the last 24 hours to about $ 113,000 while ether is traded near $ 4,100 after a short transition of $ 4,200 overnight. Solana Added 2.9% to $ 201.8, XRP got 2%, and climbed 2.3% to $ 0.20. The wide market capitalization is $ 3.9 trillion-staddle approx. 6% below the level before Krash, but up 4.4% from Sunday’s lowness shows data.
The mood improves if it is uneven. Crypto Fear and Greed Index jumped to 38 from Sunday’s extreme reading of 24, signal dealers are tumbling back in. FXPRO’s Alex Kibesikevich called Friday’s collapse “an emotional flush” that forced out weak positions across exchanges:
“Sales began as a reaction to customs headlines, but it escalated to a wave of forced liquidation. Such sweeping movements often mark the market’s short-term bottom-beautiful healing,” he said in an email to Coindesk.
Friday’s crash, which took Bitcoin during its 50- and 200-day movement average, has historic echoes. Similar leaching in 2020, 2021 and 2024 -snaring of leverage and paving the way for recovery in the weeks that followed. But by 2022, it took months for confidence to return – a timeline that dealers of dealers now weigh carefully.
Over the weekend, China’s Ministry of Commerce clarified that its rare ground exports were not a carpet bid and said applications would still be licensed. Trump repeated the softer tone, releasing that “the United States wants to help China not hurt it.”
Betting markets at polymarket prices now only a 15% probability of 100% duty by November 1st, dropped sharply from 26% at the end of Friday.
The shift relieved pressure across risk assets. US stocks got part of Friday’s loss, and Crypto followed in a well -known pattern in recent months, with digital assets tracking the macro -tunation rather than decoupling from it.
Meanwhile, the Kobeissi letter crashed as “a technical event, not a structural,” driven by Cascading margins rather than a fundamental shift in positioning.
Analyst Frank Fetter added that crypto markets “remain far from overborn”, giving way to a potential relief rally if volatility remains.
