$380B Crypto Crash Sets Stage for Next Rally
Crypto Market Wipeout: $380 Billion Crash Sets Stage for Next Major Rally, Says 10x Research
The crypto market just faced one of its biggest shakeouts ever, with over $380 billion wiped out and $19 billion in liquidations across major exchanges. Yet according to analytics firm 10x Research, this massive correction could be “the cleanest setup” for the next major rally.
The Trigger: U.S.–China Trade War Escalates
Crypto prices plunged after Washington announced 100% tariffs on Chinese goods, escalating tensions between the world’s two largest economies. The move followed earlier warnings about China’s rare earth export restrictions, sparking a global selloff in both traditional and digital assets.
Altcoins Hit Hard
The selloff saw major altcoins lose more than half their value. XRP, for example, tumbled 55% to its lowest since November before partially rebounding. During the turmoil, Bitcoin’s dominance spiked to 63.5% as investors fled riskier tokens, though it has since eased to around 60%.
10x Research: “Clean Setup” for Next Rally
With funding rates now deeply negative and excessive leverage flushed out, 10x Research believes the market has reset for a fresh leg higher. The forced liquidations, they say, have cleared weak hands and created fertile ground for accumulation.
Near-Term Headwinds Remain
Despite signs of stabilization, Bitcoin remains under pressure, trading below $112,000. On-chain data from Lookonchain shows an early Bitcoin holder recently moved $33.5 million to Binance, potentially adding short-term selling pressure.
