Investors Profit After Market Rebound Amid Trade Tensions
Market rebounds offer significant gains for dip-buying investors following a major liquidation event.
As the crypto market recovers from a challenging weekend characterized by significant liquidations, investors who bought during the downturn are reporting gains between 7% and 14%. This rebound follows the $19 billion liquidation attributed to renewed tensions between the U.S. and China regarding tariffs.
According to Santiment, a market intelligence firm, several altcoins, such as Ethena (ENA), Bittensor (TAO), and Sui (SUI), experienced significant increases after last week’s market drop.
Altcoins Experience Strong Recovery
On October 14, Santiment noted in a recent post the positive trends across mid-market altcoins with ENA rallying by 14%, TAO climbing 13%, and SUI witnessing a 7% increase. The downturn was triggered by U.S. President Donald Trump’s threats of new tariffs on China, which caused panic selling across the market.
Bitcoin’s price fluctuated, descending to as low as $101,000 before recovering to around $116,000. As of now, it stands at $111,000 according to CoinGecko, a notable decline from previous weeks.
In terms of altcoins:
- Bittensor’s TAO jumped over 25% in the last week, pricing at $443.
- Meanwhile, ENA is valued at $0.43, with small fluctuations.
- SUI struggled recently, dropping 4.6% within 24 hours, showing a more significant downturn over the month.
Market Sentiment Shifts to Cautious Optimism
Several other tokens made notable recoveries, including World Liberty Financial’s WLFI, which rose 8%, and Near Protocol’s NEAR, gaining 7%. The HYPE token from Hyperliquid also increased 7% despite a recent drop in value.
Amid these recoveries, market enthusiasts highlight a ‘monster discount’, expecting potential further decreases from the Federal Reserve amid fluctuations in the global market.
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