Market cycles are a lot like seasons, because you can often feel a chill in the air well before the first snowflake lands. On that note, October’s crypto storm delivered that first shock of cold, complete with the flash crash on Oct. 10, and pessimism has spread fast. Investors are now arguing that the new bear market has arrived, and that everyone should head for shelter.
The case sounds plausible. This October was the first negative October for Bitcoin (BTC +1.45%) in years, and nearly all major crypto assets are still smarting, well below their highs before the flash crash, including leaders like Ethereum (ETH +4.82%), Solana (SOL +4.66%), and XRP (XRP +5.09%), among…
