Crypto markets are still on track for a bullish October despite a major extermination event last week, according to analysts and experts, comparing it to other Crypto Black Swan events.
“After the biggest extermination in crypto history, I hope October is deep in red,” Says Crypto podcaster Scott Melker on Wednesday.
However, Melker said the markets still remain, “which is honestly like a small miracle,” before saying “I don’t think we’re entering a bear market.”
Crypto market capitalization quickly bouncing to recover $ 4 trillion after weekend route, but from chilled slightly as Bitcoin (Btc) Failed to build its momentum and withdraw below $ 111,000 again on Tuesday.
Melker added that it was not 2017 or 2021 with major external influences on markets such as “ICO Mania, China Mining Ban, or FTX.”
“What happened last week was concentrated structure. The kind of event that forced everyone to stop, write a danger, and re -think about what was really possible (and damaged) in this market.”
Close volatility is expected
The path to the top of the cycle is likely to be a change of mind, Hashkey Group Senior Researcher Tim Sun said in cointelegraph comments.
“Following the aggressive deleveraging of the last weekend, the emotion in the cryptocurrency market has not been fully recovered, and the general appetite remains covered. The price action is relatively sensitive to the headlines -driven catalysts.”
“The close volatility is expected, but excessive pessimism is not desired,” he said before adding that from a medium-to-long-term perspective, “the policy-easing, de-escalation of tensions, and the repair of liquidity should remain dominant themes.”
Police -time influences remain relevant
October captured the ‘UPTOBER’ moniker while Bitcoin had clocked the gains in October over the past 12 years. It currently drops 0.6% since the start of this month, but historical trends suggest that it can still be Be positive By the end of the month.
Related: Altcoins usually throw hard before the altseason: Repeat history?
Bitcoin has seen the most reversed in the second half of the month in history. In October 2024, it gained 16% after October 15, and by 2023 it rose 29%, while in 2020 it rose 18% in the second half of the month.
Melker also taught gold Epic Rally At a full time high last week, it was noted that the usual cycle of Bitcoin followed.
“Investors do not take a look, they are reallocating. And if gold can be rarely difficult, imagine what happens when the capital starts spinning back to Bitcoin.”
Other influence of uptober
Tarf Tariff Scare that contributed to the weekend crashing on the weekend appears to be missing as a White House officer confirmed President Trump and Chinese President Xi Jinping are set to meet to discuss the trade.
“Trade conflict is not a zero-sum game; both parties ultimately look for greater sharing of gains, suggesting the final outcome is likely to be more modest than the current emotion,” Sun said.
Other narratives, such as further reduction in the rate of federal reserves this year, and the Trade in debasementalso emitting feelings that UPTOBER It’s still on the track.
Magazine: ‘Macro Whiplash,’ Shuffle suffers data Breach: Hodler’s Digest
