PANews reported on October 12 that after the "October 11 flash crash," the crypto market has begun to recover some of its losses, but the full impact of the incident may take days or even weeks to fully manifest. Several industry insiders expressed their views:

1. Edward Chin, CEO of crypto hedge fund Parataxis, said he suspected that in the next few days or weeks we would hear news of some funds being liquidated or market makers being hit hard.

2. Orbit Markets co-founder Caroline Mauron pointed out that Bitcoin's next major support level is $100,000. A fall below this level will mark the end of the bull market cycle of the past three years.

3. Vincent Liu, chief investment officer of Kronos Research, believes that the plunge was triggered by tariff concerns but fueled by excessive institutional leverage, highlighting the close connection between cryptocurrencies and the macroeconomy. (Wall Street Journal)