On the night of October 11, 2025, the cryptocurrency market experienced a significant crash: the volume of liquidations of futures positions exceeded $19 billion. Despite this, experts believe that the fundamental foundations of the digital asset market remain stable.
This is reported by Business • Media
Current Market Situation and Expert Assessment
Alex Thorn, head of general research at Galaxy Digital, emphasized that the so-called “cooling” of the market does not negate the long-term drivers of its growth. The analyst paid particular attention to the impact of investments in artificial intelligence coming from large companies and the U.S. government. He noted that these factors significantly support the development of the digital asset sector even amid market fluctuations.
Furthermore, Thorn stressed that Bitcoin, in his opinion, maintains its position as “digital gold” and may benefit from the growing distrust in the fiscal and monetary policies of governments. This role, the expert believes, makes the first cryptocurrency resilient to fluctuations in traditional markets and macroeconomic uncertainty.
Prospects for Key Digital Assets
According to Thorn, the further development of tokenization and stablecoins, combined with positive regulatory changes in the U.S., creates favorable conditions for key digital assets such as Ethereum and Solana. The analyst is convinced that these factors will help the market recover from the recent wave of liquidations and increase investor confidence.
At the same time, Thorn noted a decline in interest in digital treasury companies (DAT). He attributes this to the drop in the stock prices of the respective companies, which has led to a decrease in the number of investors who previously actively purchased crypto assets regardless of price fluctuations. In the expert’s opinion, this could make the market more vulnerable in the short term, even after the recent period of cleansing.
Recall that earlier, analysts at CryptoQuant stated that Bitcoin has entered the late stage of a bullish cycle.