Matrixport: This round of "capitulation selling" is of historic significance and has completely reshaped the structure of crypto market holdings

In a market report released on October 13th, Matrixport noted that Trump's proposal to impose 100% tariffs on China triggered a historic plunge in the crypto market, which coincided with high leverage and overheated market sentiment. The report stated that the price drop triggered a chain reaction of automatic liquidations on decentralized exchanges (DEXs), further amplifying selling pressure due to tight liquidity and insufficient trading volume. During this period, Ethereum's funding rate fell to -39%, one of the most severe corrections in recent years, and over-leveraged positions in the market were almost completely eliminated. Matrixport stated that this round of "capitulation selling" was of historic significance, not only marking the end of the high-leverage cycle, but also completely reshaping the current crypto market's holdings.