BlockBeats News, October 12, according to The Wall Street Journal, despite the cryptocurrency market starting to recover some lost ground after a weekend crash, the full impact of the event may take several days or even weeks to fully materialize. Edward Chin, CEO of the crypto hedge fund Parataxis, said, “I suspect in the coming days or weeks, we will hear news of some funds being liquidated or market makers taking a heavy hit.” Currently, the market’s focus has shifted to counterparty risk and whether the event will trigger a broader contagion.
Caroline Mauron, co-founder of Orbit Markets, pointed out that Bitcoin’s next major support level is at $100,000, and breaking below this level “will mark the end of the past three years’ bull market cycle.” Vincent Liu, Chief Investment Officer at Kronos Research, believes that this crash was “triggered by tariff concerns but fueled by institutional overleverage,” highlighting the close connection between cryptocurrency and the macroeconomy. He expects the market to remain volatile but advises watching for rebound signals after the market clears.
