Market stabilizes after deleveraging

After a sharp deleveraging event that wiped out roughly $19B in leveraged positions Oct 10–11, majors have stabilized with traders eyeing whether BTC can reclaim the 118k region and ETH can hold above 4.2k in the near term, while sentiment remains cautious per recent India market snapshots. Options desks show heavier put demand as hedging picks up, and analysts warn volatility could stay elevated near key macro prints and token unlocks this week. Funding rates and dominance suggest a cooling yet constructive structure, with capital rotating selectively into fundamentals-led narratives across L1s and utility tokens.