The price of digital gold has rebounded following the decline on October 11. The drop was attributed to macroeconomic news rather than internal events in the crypto market, noted The Block analyst Presto Research's Rick Maeda.

At the time of writing, Bitcoin's price had risen by 3.2% over the past 24 hours to approximately $115,400, according to CoinGecko. Ethereum increased by 9% to around $4,190.

Maeda believes the crash was triggered by news of China's export restrictions and the US's retaliatory plans for 100% tariffs on tech imports.

According to the expert, the sell-off coincided with low liquidity over the weekend, which "caused forced liquidations worth billions of dollars."

According to CoinGlass, on October 11, crypto platforms closed positions of more than 1.6 million traders amounting to $19.1 billion.

Analysts are divided on the future prospects of the upward trend known as Uptober.

Kronos Research's Chief Investment Officer Vincent Liu believes that risk appetite has returned and the trend "remains alive." CoinW's Chief Strategy Officer Nassar Achkar agrees, adding that traders are watching the US inflation report, the Fed meeting, and inflows into spot ETFs.

LVRG Research's Director Nick Rak noted that the rebound was supported by on-chain data showing Ethereum accumulation by whales.

Maeda suggested that the trend has been affected, though it "has not derailed." In his view, the record volume of liquidations could remain a "heavy burden" for market participants, who will now be more sensitive to news about US-China trade disputes.

As reported by The Kobeissi Letter, authors stated that the cryptocurrency crash will not have long-term fundamental consequences, attributing it to a combination of technical factors.