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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/13/2025

CRYPTO MARKET RECAP 10/13: HISTORIC CRASH, BINANCE WARNING, AND RECOVERY HOPE FROM US-CHINA THAW

The crypto market kicked off the new week in a state of confusion following last weekend's historic crash. Bitcoin's price at one point plunged from $114,000 down to $102,000, dragging a wave of altcoins into freefall. According to data from CoinGlass, on Friday the market witnessed over $16.7 billion in long positions and $2.45 billion in short positions liquidated — a combined $19.1 billion, making it the single largest liquidation event in crypto history. However, Jeff Yan, CEO of derivatives platform Hyperliquid, argued that

CRYPTO MARKET RECAP 10/13: HISTORIC CRASH, BINANCE WARNING, AND RECOVERY HOPE FROM US-CHINA THAW

The crypto market kicked off the new week in a state of confusion following last weekend's historic crash. Bitcoin's price at one point plunged from $114,000 down to $102,000, dragging a wave of altcoins into freefall.

According to data from CoinGlass, on Friday the market witnessed over $16.7 billion in long positions and $2.45 billion in short positions liquidated — a combined $19.1 billion, making it the largest liquidation event in crypto history.

However, Jeff Yan, CEO of derivatives platform Hyperliquid, argued that the real figure could be significantly higher than what the published data shows. The reason: Binance — the world's largest exchange — only surfaces one liquidation per second in its data feed, even though hundreds may be firing simultaneously. This causes underreporting, leading analysts to underestimate the true scale of the event.

Adding to the pressure, the political situation in the US compounded market stress. The US government entered its third week of shutdown, causing the Securities and Exchange Commission (SEC) to stall a string of crypto ETF filings. At least 16 crypto ETFs are currently awaiting approval, and if the impasse drags into November, markets could face continued headwinds from the absence of fresh catalysts.

On a brighter note, a positive signal emerged from US-China relations. Both sides signaled a de-escalation of trade tensions after President Donald Trump announced an additional 100% import tariff on Chinese goods, while Beijing indicated willingness to re-open talks on rare earth export policy.
In a post on Truth Social, Trump wrote:

"Don't worry about China, everything is going to be fine! Both President Xi and I don't want our countries to go through a crisis. The US wants to help China, not hurt them."

Analysts believe this conciliatory statement could help stabilize global market sentiment, supporting a recovery in Bitcoin and other risk assets in the days ahead.

📉 Quick summary:

  • BTC dropped sharply to $102,000; total liquidations hit a record $19.1 billion.
  • Hyperliquid CEO warns Binance may be underreporting liquidation data.
  • US government shutdown enters week three; 16 crypto ETFs delayed.
  • US and China signal de-escalation, opening a potential recovery window for markets.