Can Uptober’s bullish history overcome a $400 billion drawdown, Trump’s tariff shock, and a looming $22 billion options expiry testing fragile support?
Summary
- Crypto lost $400 billion in market value from Sep. 18 to 26, pressured by liquidations, fading ETF inflows, and hawkish macro signals.
- Bitcoin slipped from its August high of $124,128 to about $109,000, while Ethereum retreated 22% from its $4,945 peak.
- Uptober’s bullish history of 21% average gains faces challenges from Trump’s new tariffs and $22 billion in quarterly options expiry.
- Analysts outline recovery, retracement, or consolidation scenarios, with support around $101K–112K key, while cautioning the market remains overheated and vulnerable to shocks.
Table of Contents
A $400 billion slide puts crypto’s summer rally to the test
Crypto markets have endured one of their most volatile stretches in recent memory. From Sep. 18 to 26, total market cap slipped from about $4.12 trillion to roughly $3.72 trillion, erasing close to $400 billion in value in just seven days.
The decline extended beyond spot markets, with CoinGlass reporting about $850 million in derivative liquidations over a 24-hour span as of Sep. 26.
Long positions bore the brunt at $712 million, while shorts accounted for $134 million. Ethereum (ETH) made up about 32% of these losses, Bitcoin (BTC) about 25%, and the remainder spread across altcoins.
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Author: Ankish Jain
