Looking back at history, it’s not hard to see that every market bottom has generally been accompanied by a black swan event.
On May 19, 2021, Bitcoin plunged to 28,000 and bottomed out;
In June 2022, Three Arrows Capital collapsed, and BTC fell to 17,000, very close to the bottom;
In November 2022, FTX went bankrupt, and 15,500 marked the major bottom of that bear market;
In March 2023, Silicon Valley Bank ran into trouble, and the market found a correction bottom at 19,000;
In May 2023, the SEC sued Binance and Coinbase, sending the price down to 25,000, where it stabilized;
In August 2024, the yen carry trade collapsed, and the market bottomed at 49,000;
In April 2025, news of Trump’s tariffs sent shockwaves through the market, which held steady at 75,000;
In June 2026, MicroStrategy sold off, and the market bottomed at 58,000.
Now, news of Binance being hacked has directly sparked panic across the internet.
Could this black swan event be a signal that we’ve hit bottom?
Although bearish news can trigger a sharp market decline, the upside is that it speeds up the transfer of coins between holders.
A shakeout that might otherwise have dragged on for months gets compressed into just a few days.
Without an unexpected black swan event like this, the market would most likely grind lower for a long time before bottoming out—a draining process that takes its toll and wastes time.
On May 19, 2021, Bitcoin plunged to 28,000 and bottomed out;
In June 2022, Three Arrows Capital collapsed, and BTC fell to 17,000, very close to the bottom;
In November 2022, FTX went bankrupt, and 15,500 marked the major bottom of that bear market;
In March 2023, Silicon Valley Bank ran into trouble, and the market found a correction bottom at 19,000;
In May 2023, the SEC sued Binance and Coinbase, sending the price down to 25,000, where it stabilized;
In August 2024, the yen carry trade collapsed, and the market bottomed at 49,000;
In April 2025, news of Trump’s tariffs sent shockwaves through the market, which held steady at 75,000;
In June 2026, MicroStrategy sold off, and the market bottomed at 58,000.
Now, news of Binance being hacked has directly sparked panic across the internet.
Could this black swan event be a signal that we’ve hit bottom?
Although bearish news can trigger a sharp market decline, the upside is that it speeds up the transfer of coins between holders.
A shakeout that might otherwise have dragged on for months gets compressed into just a few days.
Without an unexpected black swan event like this, the market would most likely grind lower for a long time before bottoming out—a draining process that takes its toll and wastes time.