A crypto executive warns Bitcoin could crash as much as 70% in the next market slump, MEXC apologises for freezing a trader’s $3 million account, and more highlights from the week in digital assets.
Analyst warns of steep correction before next major rally
Despite growing optimism about Bitcoin’s long-term price trajectory, several market analysts are cautioning investors that the road to $1 million may include another severe downturn. A senior executive at a leading digital asset firm warned that Bitcoin could face a correction of up to 70% before achieving its next major rally, pointing to cyclical market patterns and overheated leverage positions in the derivatives market.
According to the analyst, the current bull cycle has drawn in speculative traders using excessive leverage, leaving the market vulnerable to cascading liquidations if prices dip below key support levels. Historical data from previous halving cycles suggests that such downturns often precede explosive recoveries – but only after significant market pain.
MEXC apologises for freezing trader’s $3m
Meanwhile, cryptocurrency exchange MEXC has issued a formal apology after freezing the account of a high-volume trader, known online as “the white whale,” who claimed that nearly $3 million worth of digital assets had been locked without explanation. Following a public outcry and widespread criticism from the crypto community, MEXC stated that the freeze was triggered by an internal risk control mechanism and that all funds would be returned.
The incident has reignited debate over transparency and user protection on centralised exchanges. Analysts say that even as decentralised finance platforms mature, many traders remain dependent on centralised platforms that continue to operate under opaque compliance frameworks.
Market mood remains cautious
Bitcoin’s price has hovered around the mid-$60,000 range during the past week, with volatility subdued ahead of major economic data releases from the United States. Altcoins, including Ethereum and Solana, have followed a similar sideways pattern, reflecting investor uncertainty about the Federal Reserve’s next policy move and the outlook for global liquidity.
Several institutional investors continue to express confidence in Bitcoin’s long-term prospects, arguing that short-term corrections are part of a maturing market. However, on-chain data indicates that retail participation has slowed significantly, with many smaller holders selling into rallies rather than accumulating.
Broader crypto headlines
Other key developments included renewed scrutiny of stablecoin reserves following reports of inconsistent audits among several issuers, and the ongoing expansion of Bitcoin exchange-traded products across Europe and Asia. Regulators in Singapore and Hong Kong are also preparing new guidelines for crypto custody and risk disclosures.
Despite the caution, sentiment among long-term holders – or “hodlers” – remains broadly optimistic. Many believe that once the next consolidation phase ends, Bitcoin could enter its strongest adoption wave yet, driven by institutional inflows and mainstream financial integration.
Newshub Editorial in North America – 4 November 2025
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