On October 11th, the Crypto Assets market experienced a severe upheaval, primarily triggered by the new trade policies announced by the United States. This news caused a chain reaction in the global financial markets, resulting in significant impacts on the Crypto Assets sector.

The price of Bitcoin has sharply dropped from $122,000 to $102,000, with a decline of over 16% in 24 hours. Ethereum has also not been spared, falling below the $3,400 mark, with a decline of over 20%. However, smaller crypto assets, commonly known as "altcoins", have suffered even more severe blows. For example, the price of SUI plummeted from $3.5 to $0.55, while WLD's decline exceeded 80%. Many small market cap tokens have nearly lost all their value, with declines approaching 90%.

Market data shows that approximately 1.64 million people have encountered liquidations in the past 24 hours, with a total liquidation amount reaching 19.2 billion USD, and the largest single liquidation amount reaching 203 million USD. The chain reaction of high-leverage contracts accelerated the market decline, while the behavior of market makers withdrawing liquidity in extreme conditions further intensified the price collapse.

Analysts point out that although the new trade policy in the United States is the direct cause of the current market turmoil, the long-term accumulated leverage risks and issues with market liquidity structure are the fundamental reasons. This incident once again highlights the vulnerability of the Crypto Assets market, particularly how small Crypto Assets lacking actual support are prone to trigger systemic risks under adverse macroeconomic factors.

However, it is worth noting that after the sharp decline on the 11th, the market experienced a strong rebound on the 12th. This rapid shift in market sentiment reflects the high volatility and unpredictability of the Crypto Assets market. Investors and market participants need to remain vigilant and closely monitor the potential impact of changes in global economic policies on the Crypto Assets market.