Crypto traders say “something broke” after in October, the data says the market really did change
Two months after Trump’s tariff headline detonated a historic liquidation cascade, Bitcoin is still stuck in a different kind of market, one with less leverage, thinner liquidity, and a weaker bid from ETFs
Bitcoin is sitting in the mid $80,000s again, and the vibe feels nothing like early October, when everyone was still talking like the next leg up was inevitable, AP captured the mood shift in hard numbers, a deep drawdown from the Oct. 6 peak and a market that has been bleeding confidence for weeks.
If you spend time on crypto X, you have seen the argument playing out in real time, traders saying the market’s “pipes” got wrecked on 10/10, other traders saying this is just what risk looks like when the music stops.
