THIS CRYPTO CRASH IS WORSE THAN FTX AND NOBODY IS PAYING ATTENTION.
Since Oct 10, when Trump announced 100% tariffs on all Chinese imports, crypto has lost nearly $2T in total market cap.
Bitcoin is now -45% from ATH.
In raw dollars, this already exceeds the total damage from FTX.
But here’s the part that should worry you:
In 2022, the crash had a clear chain:
• Terra/LUNA: -$50B
• 3AC: collapsed
• BlockFi/Voyager/Celsius: bankrupt
• Genesis: followed
• FTX: final blow
Each domino was visible. Each failure had a name.
This time, there are no dominoes.
No major protocol failure.
No exchange insolvency.
No lender freezing withdrawals.
The market simply bled ~$2T without a single obvious systemic event.
That’s not normal.
WHY THIS IS MORE DANGEROUS
In 2022, the cascade was fast:
Terra blew up in May, FTX in Nov — ~6 months start to finish.
This drawdown is slower, structural, and driven by forces outside crypto:
• Tariff-driven macro shock
• Derivatives-driven unwinds (institutional positioning)
• Global risk-off flows hitting all volatile assets
When a crash has no internal catalyst, the pressure is external and ongoing.
There’s no single event to “recover from.”
THE MISSING BLACK SWAN
Every major cycle ends with a systemic blowup:
2014: Mt. Gox
2018: ICO implosion
2022: FTX
This cycle hasn’t had that moment yet.
Two outcomes:
Macro becomes the black swan: tariffs escalate, liquidity tightens, prolonged bear — no dramatic event.
The slow bleed exposes a hidden break: a fund/protocol/stablecoin that looks fine at $100K BTC cracks at $60K.
Either way, downside risk likely isn’t done.
PUTTING IT TOGETHER
• ~$2T wiped in ~4 months
• No internal failure yet → catalyst may still be ahead
• Pressure is structural (macro + derivatives), not one-off
• Historically, cycles end with a capitulation event — and we haven’t seen it
• Until macro stabilizes OR hidden risk surfaces + resolves, sustained recovery is unlikely
$BTC $ETH $BNB #jibonbroz #WhaleDeRiskETH #GoldSilverRally #BinanceBitcoinSAFUFund