Crypto crash unlikely to have derailed ‘Uptober,’ analysts say

Crypto markets rebounded to $4 trillion after the largest liquidation event in history as analysts maintained bullish October forecasts, citing structural factors.

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.”

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