Over the weekend, crypto markets went through one of the wildest rides in recent memory. Bitcoin’s flash crash took it dangerously close to $100,000 before roaring back, while major altcoins like AVAX and Cardano saw brutal collapses—some plunging 60% in minutes.
Craig Cobb from The Grome Co. joined us on the Daily Crypto News Podcast to unpack the chaos, the lessons learned, and what comes next.
The Black Swan Hits
For many, it started late Friday night. For Craig, it was Saturday morning in Australia when he rolled over in bed, saw the charts, and texted a friend. “I’ve been through China bans, the COVID crash—hell, I’ve been in crypto since 2017—but I’ve never seen anything like this,” he said.
Within minutes, Bitcoin plummeted near six figures flat. Altcoins were absolutely wrecked. AVAX touched $8.21 before clawing back to $22. The market-wide liquidation was violent, mechanical, and over before most people had time to react.
“This was a Black Swan event,” Craig said. “And the bots went off like code red.”
Pain and Perspective
If you were liquidated, Cobb didn’t mince words—he’s been there. “Don’t let it beat you,” he said. “It’s a lesson. You’ll come back stronger.”
He reminded traders that stop losses exist for a reason. His own positions in AVAX, Monero, and Alice all stopped out safely—no slippage, no panic.
But not everyone was so lucky. Many traders on less-liquid exchanges saw their stop losses ignored, orders skipped, and accounts emptied. “If that happened to you,” Cobb advised, “contact the exchange. Stay calm. It’s brutal, but it passes.”
Cobb’s been through worse. “FTX took millions from me,” he said. “But I learned, and I’m still here.”
Where Bitcoin Stands Now
At the time of recording, Bitcoin had rebounded to around $115,000. “If we didn’t know the path it took to get here, we’d call this a normal pullback,” Cobb noted. “It’s just the way it happened that’s shocking.”
The charts, however, are wrecked. “The weeklies are gone. Every uptrend? Wiped out. Ethereum looks terrible. Cardano—done. Binance is somehow defying gravity.”
Still, he sees potential. “We came right back into that magical buy zone—the 10 and 20-period moving average. That’s where opportunity lives.”
Waiting for the Reset
Craig’s advice? Patience.
“The daily needs time,” he said. “We need a clear higher low and a higher high. Minimum another week.” Until then, he’s watching the four-hour charts. “That’s where I’ll re-enter once we see structure again. No reason to trade until the dust settles.”
He expects the market to stay messy, but not hopeless. “Margin isn’t the enemy—it’s how you use it. I’ll be teaching more on that soon.”
The Other Side of the Trade
While many traders were wrecked, others made life-changing profits. “The biggest percentage returns I’ve ever seen,” Craig said. “Some of my community members woke up short and cashed out before the rebound. They’re taking a break now—not from losses, but from winning too much.”
He didn’t gloat, though. “I’m not saying that to rub it in,” he said. “Every trade has two sides. Some people lost everything. Others made a killing. That’s the market.”
Lessons from the Chaos
Cobb’s closing message was simple: protect your mind and your margin.
“If you’re hurting, walk away. The money will come back. Life’s worth more than your trading account.”
He added that these events—though painful—often signal something bigger. “I’ve seen it before. Major flushes like this usually mark the start of a stronger rally. Maybe it happens again. Let’s hope so.”
He ended with what might as well be the motto for anyone who survived the flash crash:
“You’ll be okay. You’ll bounce back. This was a battle for the ages—and you’ve got a hell of a story to tell.”
Where to Follow Craig Cobb:
Newsletter: TheGromeCo.com
X: @TraderCobb
Facebook: Craig Cobb (look for the blue tick)
Self Custody Crypto Roth IRA:
athenic.xyz — Use Code “DCN” for $30 Off
Find Daily Crypto News:
DailyCryptoNews.Net
Twitter: @DCNDailyCrypto
Trader Cobb X: @TraderCobb
TheGrowMeCo.com
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NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS FOR EDUCATION & ENTERTAINMENT ONLY!
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