Virtual asset market rebounds… Cardano and Dogecoin lead

After the crash triggered by former President Trump's announcement of a 100% tariff on imported Chinese goods, the virtual asset (cryptocurrency) market has rebounded rapidly. Despite large-scale liquidations, investor sentiment has shown signs of recovery and the market appears to be stabilizing.

According to CoinDesk on the 13th (local time), about $19 billion worth of positions were liquidated in a single day on the 10th, but Bitcoin and major altcoins recovered over the weekend. In particular, Cardano (ADA) and Dogecoin (DOGE) led the gains, rising about 10% in 24 hours. Bitcoin and Ethereum rose 2.7% and 8.3%, respectively.

The Chinese Ministry of Commerce eased restrictions on rare earths exports, and former President Trump said "I want to help China," which bolstered hopes of eased U.S.-China tensions and supported the rebound. Jeff Mei, BTSE Chief Operating Officer, predicted, "If it does not escalate into a trade war, the market will move toward new highs again."

Justin d'Anethan, head of partnerships at Arctic Digital, said, "This crash was an 'emotional reset' for the market," and forecasted, "With steady ETF inflows and exchange balance flows, the structural uptrend is being maintained."