Bitcoin Leads Recovery After October 11 “519” Crash Wipes Out $600B; Some Altcoins Plunge Over 95%

On October 11, COINOTAG News reported another “519” incident as the broader crypto market underwent a sharp contraction: aggregate market capitalization briefly declined by in excess of $600 billion. The episode constituted a pronounced intraday drawdown, with several small-cap altcoins registering outsized losses amid a volatility spike.

After the plunge, the market is entering an initial phase of recovery, with partial price retracements observed across major segments. Data indicate some tokens posted declines of more than 95%, highlighting elevated downside risk and the need to monitor liquidity and trading volumes as market participants recalibrate positions.

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