Major cryptocurrencies rebounded sharply on Monday following a weekend selloff, supported by remarks from President Donald Trump hinting at a more cooperative stance on US-China trade.

“The rebound is driven by a conciliatory message from Trump,” said Richard Galvin, co-founder of hedge fund DACM.

Most altcoins—smaller digital tokens—remain significantly below their October 9 levels, Galvin noted.

The selloff sent shockwaves across the crypto market. Ethena USDe, the third-largest stablecoin, briefly lost its dollar peg, while Binance, the largest digital-asset exchange, faced technical glitches.

Over the weekend, more than 1.6 million traders were liquidated, according to data tracker Coinglass.

As the new week begins, executives are assessing the fallout to determine who absorbed the biggest losses.

So far, there is no sign of a systemic collapse—a key concern in crypto markets after past failures, including Sam Bankman-Fried’s FTX, which triggered cascading chain reactions.

The total cryptocurrency market value climbed more than 6% to exceed $4 trillion, according to CoinGecko.

Bitcoin traded near $115,000 in London Monday morning, recovering from Friday’s dip below $105,000 in the US. Ethereum also rose, reaching around $4,100 after falling below $3,500.

The rebound followed a turbulent weekend sparked by Trump’s announcement of new tariffs on China, which erased a record $19 billion in crypto bets.

Analysts noted that losses were amplified by leveraged trades, automatic sell-offs, and thin liquidity during off-peak trading hours.