#CryptoMarketWatch

Last Friday’s so-called “black swan” event definitely shook the entire crypto market, but the more I analyze the aftermath, the more it feels like one of those moments where the market tries to wash out weak hands before a stronger trend forms. In fact, many industry veterans calling it the early stage of a bull market actually makes sense if you study market structure, liquidity behavior, and investor psychology. Historically, true bull runs rarely begin smoothly; they usually start from chaos, fear, and aggressive volatility—exactly like what we just witnessed.
For me, the most interesting part wasn’t the drop itself, but how quickly the market absorbed it. Bitcoin recovered sharp levels that usually take days or even weeks to regain after a panic crash. Ethereum also showed surprising resilience, and several altcoins that were expected to collapse instead bounced with strong volume. This kind of reaction is not normal in a weak market. It usually indicates deeper liquidity and confident buyers waiting to enter at discounted levels. It reminds me of previous cycle reversals where a sudden “fear event” became the exact turning point that big players used to accumulate positions quietly while retail panicked.
What stood out even more was the behavior of long-term holders. On-chain data showed very little panic selling from strong hands, meaning the big wallets didn’t treat this as a real threat. Instead, it was mostly leveraged traders who got wiped out—ironically giving the market a healthier base to climb from. When funding resets, leverage flushes out, and spot demand slowly returns, it often builds the exact environment where the early phase of a bull market grows silently beneath the surface.
From my perspective, this moment should not be seen as a reason to fear the market, but rather as a chance to observe how price reacts after stress. When fear is high but structural damage is low, that’s usually the window of opportunity where disciplined traders and patient investors benefit the most. Personally, I’m approaching this phase with controlled optimism. I’m not rushing into overexposure, but I am gradually positioning myself in strong assets that showed resilience during the drop. I’m also watching for confirmation signals: higher lows, increasing spot volume, and stabilization in major support zones.
So is this the early phase of a bull market? For me, the answer is: it could very well be. Markets often disguise beginnings as endings — and many people mistake capitulation for collapse, when in reality it’s often the start of something bigger. If the market continues to build strength from here, we may look back at this “black swan” moment as the exact point where a new cycle quietly began.