Crypto Expert Calls This the ’Easiest Bear Market Ever’ as Bitcoin Plunges to Six-Month Lows
Bitcoin's nosedive to levels not seen since May 2025 has traders shrugging—while one industry veteran claims this is the most painless downturn crypto's ever seen.
Six months of gains wiped out in days
The flagship cryptocurrency cratered below $30,000 this week, erasing half a year of cautious accumulation. Yet trading desks report minimal panic—just the usual Wall Street sharks circling for bargains.
When even 'bear markets' feel bullish
'Compared to 2018 or 2022, this is child's play,' remarked the analyst who called Bitcoin's 2024 top. 'Retail got wise, leverage got trimmed, and institutions are still building.' Meanwhile, traditional finance pundits suddenly remember crypto exists—just in time to say 'I told you so.'
Crypto markets are going through a rough patch in recent weeks. Bitcoin has dropped below the crucial $100,000 level, touching its lowest point in six months and altcoins have also recorded heavy losses.
Sentiment is tense and volatility is rising, but not everyone agrees that the industry is in a true bear market.
Some point to the massive October 10 liquidation event, shrinking spot demand, and slowing stablecoin liquidity as signs of an extremely bearish phase. Others believe that this is still “the easiest bear market” they have ever seen. Here’s why.
Analysts Say This Is Not a Real Bear Market
Dragonfly Capital’s Managing Partner Haseeb Kerem says that the current market downturn is far from a true bear market. He notes that the industry has already endured far more severe stress, most notably in 2022, when major collapses hit one after another like Luna, 3AC, FTX, Genesis, BlockFi, Axie, and NFTs.
Several banks collapsed, stablecoins lost their pegs, and regulators increased their oversight of the sector. He notes how the previous administration took an aggressive stance toward almost every major crypto company.
TBH this is the easiest bear market I've ever seen.
Seems like most of you have forgotten what 2022 was like. Luna collapsing, then 3AC, then FTX, then Genesis, BlockFi, Axie, NFTs–pretty much everything felt like a house of cards.
And then after all that stuff collapsed, the… https://t.co/DUwOZCBG3K
Fundamentals Remain Strong
However, today’s scenario looks very different. “Compared to that? This is breezy,” he says. Although prices have pulled back, he notes that the underlying fundamentals remain strong and the crypto ecosystem is “working”.
Some users argue that the recent market events like the “largest liquidation event in crypto history,” revealed weaknesses in the market’s infrastructure and exposed how much liquidity is tied up in loops.
Kerem disagrees, explaining that the event appeared large because crypto prices are much higher today and because reporting is more complete than in past years.
Another user questioned why anyone WOULD join a market where prices can crash 99% in a minute. Kerem notes that the crypto industry has already survived far more extreme situations than a few altcoins getting wiped out.
The End of Bear Phase?
Adding to this perspective, Bitwise CEO Hunter Horsley says that the familiar “four-year cycle” no longer reflects how the crypto market actually works.
With the launch of bitcoin ETFs and the arrival of the new Trump administration, the entire market structure has shifted, with new market players, new dynamics and reasons behind why people buy or sell crypto.
According to Horsley, crypto may have already been in a quiet bear phase for nearly six months now and almost through it. “The setup for crypto right now has never been stronger,” he says.
He has also said that the current developments in crypto may be the most bullish the industry has seen in a decade.
Bitcoin is currently trading at $96,902, down over 6% in the past 24 hours. While the volatility remains high, the broader crypto market appears far more resilient than in past downturns.
