Bitcoin briefly fell below $76,000 within hours, marking its lowest level since April 2025 and slipping under Strategy’s average cost basis for a time. Ether was hit as well, dropping 10% over the past 24 hours to around $2,400. Total crypto liquidations climbed to $2.5 billion, with more than 420,000 traders liquidated across the market.
After the sell-off, Simon Dedic, founder of Moonrock Capital, posted on X with a message aimed at investors who were struggling through the decline. He described a timeline filled with people close to breaking point, losing confidence in crypto and looking elsewhere for the next shiny narrative.
A message shaped by nine years in crypto
Dedic said he has spent 9 years in the industry and has lived through repeated market crashes. His point was simple. Every major breakdown feels final while it is happening. Traders cannot picture bullish sentiment returning, and price recovery seems distant or impossible. On paper, portfolios look destroyed, and the urge to close positions and walk away becomes intense.
Still, he argued that this pattern is familiar rather than unique. In his view, every collapse creates the feeling that “this time is different,” yet previous downturns did not end the industry. Markets came back, and they came back stronger.
Dedic says the hard phase is where winners are separated
He did not try to soften the emotional side of the move. Dedic wrote that anyone pretending to be untouched by this kind of market stress is lying. The exhaustion is real. So is the frustration. Even so, he said quitting has never been an option for him, and should not become one for others still in the space.
He framed the current drawdown as the period that actually separates winners from losers. Not the peak of a bull run, when confidence is easy and everyone feels like a genius, but the stretch when conviction is under pressure and losses dominate the screen.
Strong fundamentals remain central to his view
Dedic also said the industry’s fundamentals have never been stronger, even with unresolved problems and structural flaws still needing work. He maintained that crypto is here to stay and added that trillions of dollars will continue flowing into the market over the next 10 years.
With Bitcoin and Ether both under pressure and liquidations accelerating, his post stood as a direct response to capitulation sentiment. The market move was sharp, and the pain was obvious. His argument was that a brutal sell-off does not mean the sector has reached its endpoint.