Crypto Majors Slide as ‘Uptober’ Rally Fades

The seasonal 'Uptober' narrative is doing less work than traders hoped, and the framing itself is the story: the market is split between reading this as the beginning of something deeper or as a routine leverage flush. That the 10/10 anniversary is being invoked as a reference point suggests positioning is being shaped by memory and sentiment as much as by fundamentals. Which interpretation gains traction is the open question.