Crypto Experiences Largest Single-Day Sell-Off in History

20 MINUTES AGO·UPDATED 14 MINUTES AGO

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Above: A sign advertises a Bitcoin ATM at a gas station on near Pasadena, Calif., on July 16, 2025. Image copyright: Mario Tama/Getty Images

The Spin

Narrative A

Crypto is the greatest wealth-transfer scam in history, with coordinated rug pulls wiping out millions of investors while insiders cash out. Over 3.7 million cryptocurrencies have died since 2021, and fraud is everywhere, from meme coins to elaborate exchange collapses. This speculative casino built on worthless digital tokens will inevitably collapse when whales decide to pull the rug.

The Hill

Narrative B

Historical patterns suggest this current sell-off shouldn't be a concern but rather an opportunity to buy, as Bitcoin usually rebounds within the following week. That happened during the pandemic, when a major liquidation crash marked the bottom of the previous cycle, and this is likely to happen again as Bitcoin surges toward new all-time highs.

Cointelegraph