Crypto markets kicked off the week with a rebound after a bruising weekend of liquidations, with opportunistic traders who bought the dip amid trade war tensions reaping gains of between 7% and 14%.
According to market intelligence provider Santiment, several altcoins, including Ethena (ENA), Bittensor (TAO), and Sui (SUI), bounced sharply after last week’s $19 billion market wipeout linked to renewed U.S.–China tariff threats.
Altcoins Stage a Quick Comeback as Traders Pounce on Discounts
In an October 14 post, Santiment revealed that following last week’s historic downturn, Monday brought relief across mid-cap altcoins, with ENA rallying 14%, TAO climbing 13%, and SUI adding 7%.
The sharp drop came in the wake of U.S. President Donald Trump threatening new tariffs against China, which then triggered panic selling and cascading liquidations across the market.
On some exchanges, Bitcoin dropped to as low as $101,000 from the $122,000 region, before clawing its way back to around $116,000. However, at the time of this writing, it had slipped to $111,000 per CoinGecko, a more than 10% difference from its level one week ago, although it appears to have provided a sufficient floor for the altcoins to recover.
Bittensor’s TAO, trading at $443 at press time, has jumped more than 25% over the last seven days and 43% in two weeks, a strong bounce from its October 10 low of $282. Meanwhile, ENA currently sits at $0.43 after retracing slightly from its intraday high of $0.47. Even so, it remains up by about 20% since Friday’s panic.
On its part, Sui, priced at $2.70, has struggled to hold its daily gains after losing 4.6% in the previous 24 hours, and across the month, the picture is even bleaker, with the asset dipping nearly 29% despite the bright start to the week.
Market Sentiment Turns Cautiously Optimistic
Other assets that rose successfully from the weekend’s ashes include the Trump-linked World Liberty Financial’s WLFI token, which gained 8% and Near Protocol’s NEAR, which shot up 7%.
Hyperliquid’s native HYPE token also jumped 7%, with the protocol hailed across Crypto Twitter for remaining fully operational during the liquidation chaos. It is down 5% in the last 24 hours to trade at $38.27. Nonetheless, analysts believe it could add to its momentum following the recent activation of its HIP-3 upgrade. The update allows permissionless deployment of perpetual futures markets on-chain, potentially broadening on-chain derivatives trading.
The altcoin rebound comes as investors reassess market risks after last week’s turbulence. Analysts like Satoshi Flipper, posting on X, described the correction as a “monster discount” amid expectations that the Federal Reserve may introduce further rate cuts to offset global market jitters.