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Placeholder Partner: After this round of crypto market plunge, it is difficult to see sustained buying in the short term. If BTC falls to $75,000 or below, it may be bought again
2025-10-17 05:02

According to Odaily Planet Daily, Chris Burniske, former head of crypto at Ark Invest and current partner at Placeholder VC, wrote on the X platform, "I increasingly feel that last Friday's plunge has caused the crypto market to stagnate in the short term. It's difficult to quickly establish sustained buying after such a crash. This cycle has been disappointing for most, which may be limiting action as everyone hopes for a 'market recovery' or previous all-time highs. It's easy to get caught up in the minutiae of charts, but looking at the monthly charts for BTC and ETH, it shows that we are still in a high range (albeit with cracks), which is a good sign if you're considering taking profits."

MSTR is falling, gold is warning, as are credit markets, and stocks will be the last to react. We could always get a weak rally, but I've already taken action (remember, cashing out is never all or nothing). I'll watch how BTC reacts to $100,000, but I'd probably become interested again if it hits $75,000 or lower. This bull market is different than the last, and neither will the next bear market.