The cryptocurrency market has experienced a dramatic downturn, losing over $1 trillion in value since October 6, erasing all gains made in 2025. Major cryptocurrencies like Bitcoin and Ethereum have plummeted to multi-month lows, with over $1.8 billion in liquidations occurring in the past 24 hours. Market analysts are split on the future trajectory, with some forecasting a prolonged bear market while others see the current selloff as a temporary correction. The offloading of coins by long-term Bitcoin holders has raised concerns about the market's resilience. However, potential macroeconomic catalysts, such as anticipated Federal Reserve rate cuts and a possible US-China trade deal, could spur a recovery.