PANews reported on October 17th that Chris Burniske, former head of crypto at Ark Invest and current partner at Placeholder VC, wrote on the X platform: "Last Friday's plunge caused the crypto market to stagnate in the short term. After such a crash, it's difficult to quickly form sustained buying. This cycle has been disappointing for most, which may limit action as everyone is looking forward to a 'market recovery' or previous all-time highs. It's easy to get caught up in the minutiae of the charts, but if you look at the monthly charts of BTC and ETH, it shows that we are still in the high range (although there are cracks), if you are considering taking profits. MSTR is falling, gold is issuing a warning, as are credit markets, and stocks will be the last to react. We can always have a weak rebound, but I've already taken action (remember, cashing out is never all or nothing). I will observe BTC's reaction to $100,000, but I may become interested in the market again when BTC reaches $75,000 or lower. This bull market is different from the past, and the next bear market will be different too."