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Last Week In Crypto: Trump’s Tariff Shock Sends BTC Tumbling, TON Steals The Rebound

There’s a rhythm to every bull cycle, and by the first week of October it felt like we were back in that familiar groove. Bitcoin was hovering near $120K, traders were posting “Uptober” memes again, and funding rates had crept to levels that only ever make sense right before a shake-out. It was the classic calm — that deceptive, weightless stretch of optimism that always comes before something snaps. And then it did. Bitcoin (BTC) Late on Friday, October 10, Donald Trump reignited trade-war fears by announcing a 100% tariff on Chinese imports. https://truthsocial.com/@realDonaldTrump/posts/115351840469973590 Within seconds, markets across the board recoiled. Bitcoin fell nearly $15K in a single breath, slicing through technical supports like they weren’t there. Source: TradingView Screens began to stutter, Binance briefly misprinted prices at zero, and panic rippled through every corner of the derivatives market. Funding rates flipped negative, liquidations piled up by the billions, and even Ethena’s USDe — a stablecoin that had been uneventful for months — slipped off its peg. https://x.com/gdog97_/status/1977302774636540403 For a few hours, it really did feel like the floor was gone. Yet beneath all the noise, there was still a quieter story unfolding. Spot ETF inflows — the structural demand that had supported Bitcoin all year — never stopped. Spot Bitcoin ETFs see weekly inflows. Source: SoSoValue Even as traders were forced out of leveraged longs, institutions were still buying the underlying asset. By Sunday, the US–China rhetoric had cooled slightly, sentiment steadied, and Bitcoin began clawing its way back toward the mid-$110Ks. It wasn’t a heroic rebound so much as a deep exhale after a collective panic attack. But still — the market was standing. Ethereum (ETH) Ethereum, predictably, made the move look even more dramatic. It dropped almost 25%, plunging to around $3.5K at the lows, and for a brief moment the entire staking narrative seemed at risk. Source: TradingView Yet as funding normalized and futures unwound, ETH showed its resilience. Treasury desks quietly started accumulating, validator exits were matched by fresh deposits, and by Monday morning ETH was already back above $4K. Toncoin (TON) TON, however, was in a different league altogether. Its chart looked pretty much like a heart monitor — we saw a vertical plunge to roughly $0.56 followed by an equally vertical rebound past $2. That’s about 80% down and 250% back up within the span of a single hour. The drop was so extreme that many assumed it was a data glitch. But no. It was real. Source: TradingView And yet, as soon as the dust settled, the flow of news continued. Just before the crash, AlphaTON Capital had filed to raise $15.6 million through a stock sale explicitly earmarked for TON purchases and investments into the Telegram ecosystem. Two days later, the firm filed again, this time for a $47-million share sale, and publicly confirmed that its TON reserves had not been liquidated during the chaos. How about that? Source: Globe Newswire Then, to cap the week, AlphaTON disclosed an additional 300,000 TON buy on the open market — adding to the 1.1 million coins it had already accumulated the previous week. Thus, while everyone else was trying to recover from the wick, one of the largest holders was using it to expand exposure. Source: TronStrat Meanwhile, TON Strategy — another major player in the ecosystem — transferred $3.9 million in equity to its CFO and COO as part of an employee incentive program. CEO Manuel Stotz had recently increased his own stake as well, underscoring management’s long-term commitment. It was hard to miss the contrast: while retail traders were still nursing losses, insiders were leaning in. Source: Telegram Also, on October 10 OpenSea launched its official Telegram channel, which is a meaningful bridge between the largest NFT marketplace and Telegram’s crypto-native user base. By the start of the new week, the overall picture looked surprisingly stable. Bitcoin had re-anchored, Ethereum had regained its footing, and TON — despite everything — was trading back above $2 with fresh institutional support and expanding ecosystem momentum. What began as a flash crash ended up as an unintentional stress test that TON somehow passed. Looking ahead, if global rhetoric cools and no fresh tariff shocks arrive, Bitcoin seems poised to grind sideways between $110K and $120K while Ethereum follows its lead. TON will likely remain more volatile — that’s just part of its DNA — but after this week, it’s hard to deny that the project has earned a second look.
There’s a rhythm to every bull cycle, and by the first week of October it felt like we were back in that familiar groove. Bitcoin was hovering near $120K, traders were posting “Uptober” memes again, and funding rates had crept to levels that only ever make sense right before a shake-out. It was the classic calm — that deceptive, weightless stretch of optimism that always comes before something snaps. And then it did. Bitcoin (BTC) Late on Friday, October 10, Donald Trump reignited trade-war fears by announcing a 100% tariff on Chinese imports. https://truthsocial.com/@realDonaldTrump/posts/115351840469973590 Within seconds, markets across the board recoiled. Bitcoin fell nearly $15K in a single breath, slicing through technical supports like they weren’t there. Source: TradingView Screens began to stutter, Binance briefly misprinted prices at zero, and panic rippled through every corner of the derivatives market. Funding rates flipped negative, liquidations piled up by the billions, and even Ethena’s USDe — a stablecoin that had been uneventful for months — slipped off its peg. https://x.com/gdog97_/status/1977302774636540403 For a few hours, it really did feel like the floor was gone. Yet beneath all the noise, there was still a quieter story unfolding. Spot ETF inflows — the structural demand that had supported Bitcoin all year — never stopped. Spot Bitcoin ETFs see weekly inflows. Source: SoSoValue Even as traders were forced out of leveraged longs, institutions were still buying the underlying asset. By Sunday, the US–China rhetoric had cooled slightly, sentiment steadied, and Bitcoin began clawing its way back toward the mid-$110Ks. It wasn’t a heroic rebound so much as a deep exhale after a collective panic attack. But still — the market was standing. Ethereum (ETH) Ethereum, predictably, made the move look even more dramatic. It dropped almost 25%, plunging to around $3.5K at the lows, and for a brief moment the entire staking narrative seemed at risk. Source: TradingView Yet as funding normalized and futures unwound, ETH showed its resilience. Treasury desks quietly started accumulating, validator exits were matched by fresh deposits, and by Monday morning ETH was already back above $4K. Toncoin (TON) TON, however, was in a different league altogether. Its chart looked pretty much like a heart monitor — we saw a vertical plunge to roughly $0.56 followed by an equally vertical rebound past $2. That’s about 80% down and 250% back up within the span of a single hour. The drop was so extreme that many assumed it was a data glitch. But no. It was real. Source: TradingView And yet, as soon as the dust settled, the flow of news continued. Just before the crash, AlphaTON Capital had filed to raise $15.6 million through a stock sale explicitly earmarked for TON purchases and investments into the Telegram ecosystem. Two days later, the firm filed again, this time for a $47-million share sale, and publicly confirmed that its TON reserves had not been liquidated during the chaos. How about that? Source: Globe Newswire Then, to cap the week, AlphaTON disclosed an additional 300,000 TON buy on the open market — adding to the 1.1 million coins it had already accumulated the previous week. Thus, while everyone else was trying to recover from the wick, one of the largest holders was using it to expand exposure. Source: TronStrat Meanwhile, TON Strategy — another major player in the ecosystem — transferred $3.9 million in equity to its CFO and COO as part of an employee incentive program. CEO Manuel Stotz had recently increased his own stake as well, underscoring management’s long-term commitment. It was hard to miss the contrast: while retail traders were still nursing losses, insiders were leaning in. Source: Telegram Also, on October 10 OpenSea launched its official Telegram channel, which is a meaningful bridge between the largest NFT marketplace and Telegram’s crypto-native user base. By the start of the new week, the overall picture looked surprisingly stable. Bitcoin had re-anchored, Ethereum had regained its footing, and TON — despite everything — was trading back above $2 with fresh institutional support and expanding ecosystem momentum. What began as a flash crash ended up as an unintentional stress test that TON somehow passed. Looking ahead, if global rhetoric cools and no fresh tariff shocks arrive, Bitcoin seems poised to grind sideways between $110K and $120K while Ethereum follows its lead. TON will likely remain more volatile — that’s just part of its DNA — but after this week, it’s hard to deny that the project has earned a second look.

There’s a rhythm to each bull cycle, and by the primary week of October it felt like we had been again in that acquainted groove. Bitcoin was hovering close to $120K, merchants had been posting “Uptober” memes once more, and funding charges had crept to ranges that solely ever make sense proper earlier than a shake-out. It was the basic calm — that misleading, weightless stretch of optimism that all the time comes earlier than one thing snaps.

And then it did.

Bitcoin (BTC)

Late on Friday, October 10, Donald Trump reignited trade-war fears by saying a 100% tariff on Chinese imports. 

Within seconds, markets throughout the board recoiled. Bitcoin fell practically $15K in a single breath, slicing by technical helps like they weren’t there. 

Last Week In Crypto: Trump’s Tariff Shock Sends BTC Tumbling, TON Steals The Rebound

Screens started to stutter, Binance briefly misprinted costs at zero, and panic rippled by each nook of the derivatives market. Funding charges flipped detrimental, liquidations piled up by the billions, and even Ethena’s USDe — a stablecoin that had been uneventful for months — slipped off its peg.

For just a few hours, it actually did really feel like the ground was gone. Yet beneath all of the noise, there was nonetheless a quieter story unfolding. Spot ETF inflows — the structural demand that had supported Bitcoin all 12 months — by no means stopped. 

Spot Bitcoin ETFs see weekly inflows. Source: SoSoValue

Even as merchants had been pressured out of leveraged longs, establishments had been nonetheless shopping for the underlying asset. By Sunday, the US–China rhetoric had cooled barely, sentiment steadied, and Bitcoin started clawing its means again towards the mid-$110Ks. It wasn’t a heroic rebound a lot as a deep exhale after a collective panic assault. But nonetheless — the market was standing.

Ethereum (ETH)

Ethereum, predictably, made the transfer look much more dramatic. It dropped virtually 25%, plunging to round $3.5K on the lows, and for a short second the complete staking narrative appeared in danger. 

source:%20TradingView

Yet as funding normalized and futures unwound, ETH confirmed its resilience. Treasury desks quietly began accumulating, validator exits had been matched by recent deposits, and by Monday morning ETH was already again above $4K. 

Toncoin (TON)

TON, nevertheless, was in a unique league altogether. Its chart seemed just about like a coronary heart monitor — we noticed a vertical plunge to roughly $0.56 adopted by an equally vertical rebound previous $2. That’s about 80% down and 250% again up throughout the span of a single hour. The drop was so excessive that many assumed it was a knowledge glitch. But no. It was actual. 

source:%20TradingView

And but, as quickly because the mud settled, the stream of reports continued.

Just earlier than the crash, AlphaTON Capital had filed to lift $15.6 million by a inventory sale explicitly earmarked for TON purchases and investments into the Telegram ecosystem. Two days later, the agency filed once more, this time for a $47-million share sale, and publicly confirmed that its TON reserves had not been liquidated through the chaos. How about that? 

source:%20Globe%20Newswire

Then, to cap the week, AlphaTON disclosed a further 300,000 TON purchase on the open market — including to the 1.1 million cash it had already gathered the earlier week. Thus, whereas everybody else was making an attempt to recuperate from the wick, one of many largest holders was utilizing it to broaden publicity.

source:%20TronStrat

Meanwhile, TON Strategy — one other main participant within the ecosystem — transferred $3.9 million in fairness to its CFO and COO as a part of an worker incentive program. CEO Manuel Stotz had just lately elevated his personal stake as properly, underscoring administration’s long-term dedication. It was laborious to overlook the distinction: whereas retail merchants had been nonetheless nursing losses, insiders had been leaning in. 

source:%20Telegram

Also, on October 10 OpenSea launched its official Telegram channel, which is a significant bridge between the most important NFT market and Telegram’s crypto-native person base.

By the beginning of the brand new week, the general image seemed surprisingly secure. Bitcoin had re-anchored, Ethereum had regained its footing, and TON — regardless of all the things — was buying and selling again above $2 with recent institutional help and increasing ecosystem momentum. What started as a flash crash ended up as an unintentional stress take a look at that TON in some way handed.

Looking forward, if world rhetoric cools and no recent tariff shocks arrive, Bitcoin appears poised to grind sideways between $110K and $120K whereas Ethereum follows its lead. TON will probably stay extra unstable — that’s simply a part of its DNA — however after this week, it’s laborious to disclaim that the mission has earned a re-assessment.

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