Crypto Is Dead, Long Live Crypto
In early October, Bitcoin set an all-time high near $126,000. By mid-November, it had handed back the year’s gains and ducked below $90,000. A trillion-dollar swing in weeks is a headline even in crypto’s wild history. The latest downdraft looks driven by macro anxiety and leverage washouts rather than a single fraud event. Yet, the result is the same: bruised portfolios, thinner media coverage, and a sector asking hard questions about what still matters.
The retrenchment you can see
Two industry bellwethers tell a good chunk of the story. Blockworks shut its news division in late October, pivoting to data and distribution, a striking reversal for a newsroom that helped define the last cycle’s narrative tempo. At Axios, the…
