Split Sentiment After Bitcoin’s October Crash

[ed]

The October 11 crash sparked $19 billion in liquidations, deepening the divide among traders:

Bearish traders argue the rebound was fueled by excessive long leverage and caution a sustainable upturn is unlikely.

Others see the crash as a cleansing, flushing speculative excess and stabilizing the market. Open interest in BTC and ETH has dropped sharply, suggesting deleveraging is underway.

Some traders, including influencers, are pulling back entirely, while major desks like Galaxy revised their crash analysis for the first time in two years.

Volatility, liquidation, and market resets remain the norm—but even seasoned traders feel something unprecedented is happening.

[kelson10]

Market division reflects uncertainty — some see a dip to buy, others fear deeper corrections.

[Nahid10]

Bitcoin crashes often reset market psychology, shaking out weak hands before the next rally.