It has been a highly eventful, volatile, and mostly painful week for the cryptocurrency markets that started hours after our previous market update last Friday. At the time, BTC had retraced slightly since its ATH marked just days earlier, but was still holding strong above $120,000. However, US President Trump threatened China with a new wave of tariffs after saying its authorities had been lying, which sent shockwaves through the market. BTC dumped immediately to under $117,000, which opened the gates of leveraged hell to take place. The cascading effects of overleveraged positions getting forcefully closed resulted in a $19 billion wipeout and a massive BTC plunge to $101,000 (on Binance and a few more exchanges). The altcoins were smashed even harder, with losses of up to 99% in some extreme cases. The dust settled during the weekend, especially after reports that the tension between the two superpowers had de-escalated. Bitcoin even went on the offensive and jumped to $116,000 mid-week, where it faced an immediate rejection. Although the $110,000 support held at first, the bears continued to pressure the asset. It gave in yesterday when Trump met with Russia’s Putin, with a price drop to $108,500. The landscape worsened over the past day, once again on another bloody Friday. BTC initiated another leg down that drove it south to just under $104,000. There was a brief bounce off to over $106,000 after Trump said the tariffs on China won’t stand, but that momentum has faded, and BTC is back at around $105,000 as of press time. This puts its weekly losses at over 13%. While this might sound painful, because it is, the situation with many altcoins is a lot worse, with massive losses from the likes of DOGE (-27%), ADA (-25%), LINK (-27%), XLM (-22%), HYPE (-21.5%), and many others. Market Data Weekly Market Overview: Source: QuantifyCrypto Market Cap: $3.650T | 24H Vol: $273B | BTC Dominance: 57.3% BTC: $105,000 (-13.6%) | ETH: $3,770 (-13.4%) | XRP: $2.27 (-19.5%) This Week’s Crypto Headlines You Can’t Miss Extreme Fear Creeps Back Into the Crypto Market as Bitcoin Tanks by $20K in Days . The overall market sentiment has changed a lot in the span of just over a week, which is seen by the Fear and Greed Index. The metric was above 60 last week, which showed a state of greed, but it tumbled to multi-month lows of under 25 after the most recent correction. Ripple Labs Reportedly Leading $1B Fundraise for XRP Treasury . In times where different companies are ramping up efforts to accumulate BTC, ETH, and a few other altcoins, Ripple Labs has reportedly began an initiative that will allow it to raise $1 billion through a SPAC to create a digital asset treasury focused on accumulating its own token, XRP. Nearly All ETH Held by Companies Was Purchased in Past Quarter Alone . Speaking of altcoins that have became the center of DAT accumulation, data emerged this week indicating that almost all of the ETH purchased by such companies has been accumulated in Q3 2025. Was Last Week’s Deleveraging Event a Necessary Reset for The Bitcoin Market? Glassnode Weighs In . Last Friday’s meltdown had a profound impact on the entire crypto industry, with multiple expers and observers rushing to offer their opinion on why it happened and what’s next. Glassnode, for instance, said it was a necessary reset due to the extremely high leveraged used by some traders. October 10 Crash Exaggerated? Real Crypto Losses Just $2.31B (Analyst) . According to another report, the massive figures of $19 billion in liquidations during last week’s crash were highly exaggerated. It claimed that the actual value was just over $2.3 billion. Peter Schiff Dismisses BTC’s ‘Digital Gold’ Status Following Recent Crash . As we know, Peter Schiff uses every possible opportunity to criticize BTC, and the crash from over $122,000 to under $105,000 allowed him to do so once again. In his latest bashing fest, the economist said this price correction invalidated BTC’s status as digital gold. The post Bitcoin Sinks by 13%, Altcoins Get Battered as Trump Meets Putin, Zelenskiy: Your Weekly Crypto Recap appeared first on CryptoPotato .
