It’s been exactly a year since that 10/10 flash crash and the market is still feeling the ripple effects. Back then, the 100% tariff news wiped out $19 billion in a day and knocked $BTC off its $126,000 peak. Looking at the data now, the recovery is totally lopsided. BTC and $ETH have rebuilt their order books with real capital. According to CoinDesk, BTC depth within 1% of the price is up 75% to $11.7 million. This isn't just price action. It is more capital committed by market makers. 📉
Altcoins are getting left behind. Their dollar depth is down about a third since early 2025, while spot trading volume is still two-thirds below the crash week peak. On Binance, BTC is sitting at $82,792, which is below the daily MA20 of $84,397. Even with 60.3% of accounts being long, the thin liquidity in alts means they will likely keep lagging. I am watching to see if we can reclaim the MA20 before getting excited about a trend reversal.
The big money has clearly chosen its favorites.
Source: CoinDesk, Crypto Briefing
$XRP
Altcoins are getting left behind. Their dollar depth is down about a third since early 2025, while spot trading volume is still two-thirds below the crash week peak. On Binance, BTC is sitting at $82,792, which is below the daily MA20 of $84,397. Even with 60.3% of accounts being long, the thin liquidity in alts means they will likely keep lagging. I am watching to see if we can reclaim the MA20 before getting excited about a trend reversal.
The big money has clearly chosen its favorites.
Source: CoinDesk, Crypto Briefing
$XRP