October 11th Crypto Market Data: How has the market changed after the "flash crash"!?
1. This time, the flash crash caused the market to lose about 400 billion in market value. During the decline, #Bitcoin's share increased by 1%, while #ETH and altcoins saw a decrease in their shares, especially altcoins, which dropped by as much as 1.4%. Altcoins suffered significant losses.
2. Overall trading volume surged, likely reaching the highest daily trading volume of 2025, totaling 540 billion. In comparison, the trading volumes of BTC, ETH, and altcoins all increased by about 2 times. Of course, in the midst of a sharp decline, it is difficult to distinguish between normal trading volume and forced liquidations.
3. The funds remaining in the market decreased by 1 billion, totaling 308.9 billion. Currently, USDT still has a large influx of funds after the sharp decline, with official data showing a market value of 179.08 billion, a daily increase of 5.05 billion, likely due to margin replenishment flowing into the market. However, there was a slight outflow of funds from the US region, amounting to 125 million.
4. It is worth noting that the USDC official website updates weekly data. As of Thursday, October 9th, the USDC official website issued 6.8 billion and destroyed 5.5 billion, indicating a net inflow of 1.3 billion for USDC this week.
Daily Assessment:
Compared to Friday's data, the market changes after the flash crash are still quite significant, but it is easy to misinterpret the true state of the market at this time. After all, a large number of positions were liquidated after the flash crash, and there were actions such as capital replenishment. The only thing that can be confirmed is that this flash crash has indeed caused considerable damage to altcoins.
From the perspective of daily market value fluctuations and trading volume, it can be considered a peak value for this year, worth noting!
October 11th #Bitcoin / #ETH Market:
BTC Market:
1. A rebound after a sharp drop is normal. The key point for the rebound next week is around 116,800. I mentioned this level as an important turning point during this week's pullback. Similarly, during the rebound, whether the price can return above this level is also crucial.
2. Above 116,800, bullish momentum will recover, and the rebound will accelerate. Conversely, if it faces resistance, it means the bullish momentum remains weak.
3. There is a resistance around 114,600. If this resistance cannot be broken during next week's rebound, it indicates that the bullish momentum is too weak.
4. The support to reference for a pullback is around 111,300, with a key observation point for support being around 107,000.
5. The rebound after a short-term sharp drop is an important observation focus for next week. If the rebound is ineffective, we will continue to see a fluctuating decline. Although a long wick was formed after the sharp drop, this was driven by external negative factors, so technically, this kind of wick cannot be considered a stop to the decline for now.
ETH Market: Similar to BTC
1. ETH performed relatively well technically during this drop. The short-term position of 3775 can serve as weekend support, and the key focus for further declines is the position of 3535.
2. Pay attention to whether ETH can stabilize around 3870 next week. If it can stabilize, the subsequent trend looks optimistic.
3. The reason ETH's performance during the decline is stronger compared to BTC is mainly that its growth over the past two years has been weaker than BTC. Simply put, it is in a undervalued stage compared to BTC's valuation, so it can maintain a certain "strength" during the sharp drop, rather than ETH necessarily having a higher stability in terms of chips than BTC.
Weekend Assessment:
After the sharp drop, the weekend should be relatively "quiet". The market's sentiment needs to recover, and after the leverage is cleared, volatility will also slow down. At the same time, the sentiment of market traders will weaken, making this weekend relatively "quiet". Next week is an important observation period!
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