The crypto market is bouncing back after one of its most turbulent weekends ever, with major digital assets recovering ground lost during the sudden liquidation wave that erased roughly $20 billion from open positions.

According to CryptoSlate’s data, Bitcoin climbed more than 3% in 24 hours, trading around $115,342 after sinking toward $105,000 on Oct. 10. Ethereum also recovered strongly, rising 9% to $4,180 following its weekend drop to nearly $3,500.

Among the top 10 digital assets, BNB led with a sharp 16.85% jump to a new all-time high, while Dogecoin and Cardano each gained over 10%. Tron, by contrast, posted only a modest 2.5% increase, showing that the recovery remains uneven across the market.

Over $600 million liquidated

Despite the price rebound, the crypto market still saw nearly 190,000 traders liquidate in the past 24 hours, with total losses exceeding $626 million. Notably, the most significant single liquidation involved an ETH-USD position worth $7 million on Binance.

According to CoinGlass data, short sellers absorbed most of the damage, losing roughly $418 million as prices reversed upward, while long traders forfeited another $207 million as volatility persisted.

Still, Timothy Misir, head of research at BRN, explained to CryptoSlate that the market rebound reflects a blend of short-covering and selective accumulation.

According to him:

“Large holders are buying opportunistically while many retail players remain sidelined. That said, the market’s structural health still hinges on steady spot demand, ETFs, treasuries and corporate purchases and time for liquidity to normalize. A V-shaped recovery is possible;

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Author: Oluwapelumi Adejumo