A turbulent week saw the global crypto economy struggle to recover, ending nearly 1.6% higher. At the time of writing, the total market capitalization was just under $3.8 trillion. A confluence of global economic anxieties fueled a sharp sell-off on Oct. 17. Concerns over the underlying health of U.S. banks—a perennial source of macroeconomic instability—combined with renewed fears of an escalating U.S./China trade war created a risk-off environment that drove down digital asset prices.

After a tumultuous preceding week that saw double-digit percentage losses, bitcoin ( BTC) began the period trading slightly under $114,000. The flagship cryptocurrency was then violently pulled lower, briefly plunging below the critical $103,600 support level on Oct. 17.

Bitcoin price as of Sunday, Oct. 19, 2025, at 2:15 p.m. Eastern time. Source: markets. bitcoin.com

This sharp, intra-day capitulation immediately sparked widespread fears across the market of a new massive wave of forced liquidations. However, the crypto economy displayed remarkable resilience, staging a rapid recovery that pushed BTC back above the key $108,000 mark within just 48 hours.

Despite this bounce, the correction has been severe: since breaching the $126,000 milestone on Oct. 6, bitcoin’s value has dropped by approximately 14%, effectively erasing all gains accumulated since the start of the month.

Altcoins, meanwhile, saw a mixed performance with ether ( ETH) closing just below the $4,000 mark, weekly loss not exceeding 1%. Like BTC, ether saw its biggest intraday losses on Oct. 17 amid rumours the Trump administration was poised to make another announcement which would tank markets. However, after that day ended without incident, global markets, including crypto, recovered.

BNB, which has been the crypto economy’s bellwether digital asset in the last few weeks, saw some of the biggest declines during the period, dropping 11.8%. The drop shrank BNB’s market cap from around $190 billion to $156 billion and saw the digital asset slip behind USDT in rankings.

However, the week was not a complete loss for all digital assets as a selection of high-cap altcoins defied the negative trend, managing to close the period with weekly gains ranging between 3% and 5%.

• What caused the sharp crypto market sell-off on Oct. 17? Global anxieties over the health of U.S. banks and renewed fears of an escalating U.S./China trade war fueled a massive risk-off environment for digital assets.
• How did bitcoin ( BTC) perform after the crash? After briefly plunging below the key $103,600 support level, bitcoin showed resilience by recovering above the $108,000 mark within hours.
• What was the overall impact on Bitcoin’s recent value? Despite the recovery, the price drop of approximately 14% since its Oct. 6 peak of $126,000 effectively erased all of the month’s accumulated gains.
• Did all major altcoins see heavy losses? No; while BNB dropped sharply by 11.8% and ether ( ETH) saw a minor loss, a selection of high-cap altcoins defied the negative trend to close the week with 3% to 5% gains.

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