There Are Three Major Tailwinds for Crypto's Next Rally, Says Galaxy Digital's Alex Thorn

**Galaxy Digital's Alex Thorn Identifies Three Key Catalysts Driving Cryptocurrency Market Recovery After Major Correction**

Galaxy Digital's research head Alex Thorn reveals three major tailwinds positioning the cryptocurrency market for its next significant rally following October's dramatic sell-off. The crypto market experienced severe volatility on October 10, triggering approximately $19 billion in liquidations as Bitcoin plummeted from its all-time high of $126,300 on October 6 to an intraday low near $107,000. Ethereum similarly crashed from $4,800 to around $3,500 before stabilizing.

Thorn attributes the market correction to high leverage colliding with thin order books, exacerbated by exchange auto-deleveraging mechanisms that capped market-maker short positions and further reduced liquidity during peak selling pressure. Despite this significant cryptocurrency market downturn, the digital asset space appears primed for recovery heading into the weekend.

The blockchain and DeFi sectors demonstrated resilience as markets found support levels, suggesting underlying institutional demand remains strong. Thorn's analysis indicates that current market conditions, combined with the three identified tailwinds, could fuel the next major cryptocurrency bull run as Bitcoin and altcoins recover from recent losses.