- LMAX Group strategist, Joel Kruger, predicts a strong recovery in Bitcoin and the crypto market following the October 10 crash.
- The total crypto market value dropped from $4.09 trillion to $3.24 trillion, losing nearly $850 billion in minutes.
- Kruger expects Bitcoin and Ethereum to continue climbing, as they have stabilized after their record highs.
In a striking turnaround for the digital-asset world, crypto markets are showing signs of revival — and major analysts are taking notice. LMAX Group strategist Joel Kruger says the rebound underway for Bitcoin (BTC) and Ethereum (ETH) may be the start of a full-blown recovery, after a severe October sell-off that rattled confidence across the sector. Kruger’s commentary arrives as the broader crypto market shows freshly awakened strength — with Bitcoin reclaiming the $115,000 mark and Ethereum pushing back above $4,000. His view: this is not just a bounce, but potentially the beginning of the next major leg up.
A crash that shook confidence
Earlier this month, the markets endured one of their most traumatic episodes in years. On October 10, the total cryptocurrency market value plunged—from around $4.09 trillion to approximately $3.24 trillion—wiping out nearly $850 billion in minutes. The magnitude of the drop left even seasoned investors unsettled: widespread liquidations triggered abrupt price swings and forced many leveraged positions into deleveraging. With sentiment hit and uncertainty high, the mood across crypto shifted from cautious to nervously watchful. In the face of that shock, however, markets began to stabilise. The combination of institutional flows, improving macro signals, and technical support began to underpin a turn in favour of the bulls.
Why Kruger sees recovery gaining strength
According to Kruger, there are several converging factors that suggest the market is ready to bounce back in earnest:
- Seasonal tailwind. Historically, October and the fourth quarter have been among the strongest periods for Bitcoin’s performance. Kruger highlights that October has consistently delivered outsized gains.
- Macro backdrop improving. Lower U.S. bond yields, stronger risk appetite and easing global tensions are helping to shift sentiment back toward risk assets, including crypto.
- Healthy correction rather than collapse. Kruger frames the recent drop not as a market breakdown, but as a natural consolidation after record highs — a pause rather than a pivot. This distinction carries weight for investor psychology.
- Institutional support building. Metrics like lower exchange-balances, rising on-chain accumulation and increasing stablecoin liquidity suggest demand is lurking in the wings.
Together, these signals underpin his core view: Bitcoin and Ethereum are primed to continue climbing, potentially pushing into new highs by the end of the year.
Bitcoin breaks key resistance
One of the clearest signs of the market shift is Bitcoin reclaiming its footing above critical price levels. After dipping to around $108,000 just a week ago, BTC surged back to roughly $115,000, recording four straight days of gains. Technical analyst Michaël van de Poppe flagged the $112,000 zone as a tipping point — now surpassed, he says the path is open for further upside. Additional analytics support the conviction:
- The realised price of Bitcoin across various time-frames (including 5-month and 2-year metrics) are moving higher. The famed analyst PlanB pointed out that the 5-month realised price now sits around ~$113,000, while Bitcoin is trading above it—a bullish signal.
- The Stablecoin Supply Ratio (SSR) Oscillator from Glassnode remains near cycle lows, meaning there’s ample stablecoin liquidity ready to deploy into Bitcoin.
In aggregate: the chart patterns are turning supportive, underlying demand appears intact and sentiment is shifting. The market seems to sense it, even if the full move is yet to play out.
Ethereum joins the rebound, but with caveats
It’s not just Bitcoin catching a bid. Ethereum has also responded, climbing above $4,000 and trading near ~$4,155. However, Ethereum’s path appears a bit less certain. Trader Shafyn Khan believes ETH could dip back into the $3,700 to $3,800 range before mounting its next upward move — a reminder that altcoins often lag Bitcoin’s lead. That said, the broader bullish tone for crypto lifts Ethereum’s prospects. If Bitcoin remains strong, ETH often catches the tailwinds. But the timing and magnitude of its shift may still depend on clearer confirmation of momentum.
Final thoughts
The case for a crypto rebound is compelling. The recent pull-back appears to have cleared excess risk, the macro-backdrop is turning more supportive, seasonal strength is on crypto’s side, and key technical thresholds are being breached. What was weak has shown signs of life again — and if the script plays out, the best may still lie ahead. However, as with all markets, caveats abound. The crypto asset class remains inherently volatile, responsive to both macro shocks and sector-specific news. What looks like a bounce can quickly become a breakdown if key supports falter or external conditions sour. That said, for long-term oriented investors with conviction, the current landscape offers intriguing opportunity. A “healthy correction” may be giving way to the next leg of the cycle — and analysts like Joel Kruger believe we are entering that phase. As we move into the closing months of 2025, with seasonal tailwinds in motion and market architecture shifting, this could be one of those inflection moments that future investors look back on as the start of the next chapter for crypto.
Disclaimer: CryptopianNews shares this for learning and info only. It’s not meant to be financial or investment advice. Crypto markets change a lot and move quickly. Investing in them can be risky. You should always look into things yourself. Talk to a trained financial advisor before making any choices about investing.
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