The volume of liquidations in the cryptocurrency market on the night of October 11, 2025, exceeded $19 billion, marking one of the most severe crashes in recent times. However, experts emphasize that the fundamental positions of digital assets remain strong even after such sharp changes.
This is reported by Finway
Long-term Prospects and the Role of Bitcoin
Alex Thorn, head of general research at Galaxy Digital, highlighted that despite a temporary “cooling” of the market, long-term growth factors remain relevant. He pointed out the significant investments being made by the U.S. government and major corporations in the development of the sector, particularly in the field of artificial intelligence.
Furthermore, Thorn emphasized that Bitcoin, in his opinion, maintains its position as “digital gold” and could 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.
Further Development and New Challenges
The analyst also highlighted positive trends in the area of tokenization and the development of stablecoins, which, along with the gradual improvement of regulatory policies in the U.S., create a favorable environment for leading digital assets, particularly Ethereum and Solana. According to Thorn, these factors may support the market’s recovery after recent shocks.
At the same time, the expert noted a decline in interest in digital treasury companies (DAT), which is linked to the fall in their stock prices. This has led to an outflow of investors who previously actively purchased crypto assets regardless of market fluctuations, increasing the market’s vulnerability in the short term even after a period of cleansing.
It is worth noting that analysts at CryptoQuant previously reported that Bitcoin has entered the late stage of a bullish cycle, which also affects the sentiments of market participants.