Bullish October Still Likely After Crypto Liquidation Event
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The crypto markets are still on track for a bullish October despite a major liquidation event last week, according to analysts and experts, who have compared it to other crypto black swan events. “After the largest liquidation in crypto history, I expected October to be deep in the red,” crypto podcaster Scott Melker said on Wednesday. However, Melker said the markets are still holding on, “which honestly feels like a small miracle,” adding that “I don’t think we’re entering a bear market.” The crypto market capitalization rebounded quickly to reclaim $4 trillion after the weekend rout, but has since cooled off slightly as Bitcoin (BTC) failed to build on its momentum and retreated below $111,000 again on Tuesday. Melker added that this wasn’t 2017 or 2021 when there were major external influences on markets such as “ICO mania, China mining ban or FTX.” “What happened last week was purely structural. The kind of event that forces everyone to stop, reprice risk, and rethink what’s actually possible (and broken) in this market.” Near-term volatility is to be expected The path to the cycle top is likely to be volatile, HashKey Group senior researcher Tim Sun told Cointelegraph. “Following last weekend’s aggressive deleveraging, sentiment in the cryptocurrency market has yet to fully recover, and overall risk appetite remains subdued. Price action is relatively sensitive to headline-driven catalysts.” “Near-term volatility is to be expected, but excessive pessimism is unwarranted,” he said, adding that from a medium-to-long-term perspective, “policy easing, de-escalation of tensions, and liquidity repair should remain the dominant themes.” Seasonal influences remain relevant October gained the moniker “Uptober” as Bitcoin has clocked gains in October in ten of the past 12 years. It is currently down 0.6% since the start of this month, but historical trends suggest it could still turn positive…
Filed under: News - @ October 15, 2025 7:26 pm