A Night of Horror in the Crypto World: After 530 Billion Evaporated, Can BTC Still Reach the Moon?

Imagine this: at midnight, you are scrolling through X (formerly Twitter), and suddenly, the entire crypto world seems to be swallowed by a black hole. Bitcoin plummets from a high of $120,000 to the bottom, with the entire market evaporating $530 billion in just one hour, setting a record for the largest single-day liquidation in crypto history—$82 billion in leveraged positions vanished into thin air. Leveraged traders are crying out, retail investors are heartbroken, and the whales? They are laughing in the shadows. This is not a science fiction movie, but a real scene from the early hours of October 11, 2025. The crypto world has once again staged a 'Night of Horror'.

But don't be in a hurry to close the App. Right after this bloodbath, the market has quietly rebounded, with the total market cap recovering to $3.7 trillion. Zcash ($ZEC) surged 9%, Solana ($SOL) held the $180 mark, and even Dogecoin ($DOGE) made a resilient comeback. What is the driving force behind this storm? Will it be the end of 'Uptober', or a stepping stone to a new peak?