The dramatic selloff that wiped out billions from the crypto market on Friday might not signal the end of the rally - but rather its beginning, according to several well-known traders.
Crypto influencer Alex Becker said in a new video that the steep drop could mark “the start of the bull market,” warning that panic sellers might regret their decision within weeks. “Selling right now could be the stupidest thing you could ever do,” he said, emphasizing that the recent chaos has “reset the entire market.”
His optimism follows one of the most violent single-day crashes in crypto history. Bitcoin briefly plunged to $102,000 after U.S. President Donald Trump announced 100% tariffs on Chinese imports, triggering a global risk-off wave. Liquidations reached an unprecedented $19.3 billion in 24 hours – a wipeout more than ten times larger than the crashes during COVID-19 or the FTX collapse.
Becker believes the event “cleared the board” for the next major uptrend. He suggested that frustration over Bitcoin’s year-long dominance – while altcoins lagged – led to excessive leverage and emotional trading. “Market makers just keep pulling the levers, and everyone overreacts,” he said, adding that impatience among traders magnified the drop.
At the time of writing, Bitcoin trades near $111,200, down over 10% this week but still far above its pre-summer levels. Despite the correction, analysts like Benjamin Cowen remain bullish, noting that Bitcoin dominance has climbed back above 60%, often a sign that capital is consolidating before the next leg higher.
Others urge patience. Economist Timothy Peterson told Cointelegraph that the leading cryptocurrency might “cool off” for several weeks before resuming its upward trajectory, though likely at a slower pace.
Meanwhile, Samson Mow, founder of Jan3, shared Becker’s upbeat view, declaring on X that “it’s time for Bitcoin’s next leg up.”
Still, not all investors share their enthusiasm. The Crypto Fear & Greed Index dropped to 24, indicating “Extreme Fear” across the market – a sentiment that, ironically, many long-term traders see as the perfect time to buy.
