PANews reported on October 12 that according to Cointelegraph, Kobeissi Letter investment analysts said that the sudden market crash on Friday caused some cryptocurrencies to plummet 95% in less than 24 hours, but this does not mean a long-term bearish outlook or deterioration of fundamentals.

Analysts wrote that Friday's market crash was triggered by a combination of short-term factors, including "excessive leverage and risk," as well as U.S. President Donald Trump's announcement of 100% tariffs on China. The market had a heavy bullish bias, with $16.7 billion in long positions liquidated, compared to just $2.5 billion in short positions, a ratio of nearly 7:1.