Bell Curve

Crypto’s Reality Check | Roundup

11 snips
Feb 7, 2026
They unpack crypto’s big selloff and why prices diverged from equities. They revisit October liquidations and how market structure broke. They debate talent and capital shifting to AI and what that means for product-market fit. They cover tougher VC standards, consolidation around revenue-generating protocols, and experimental AI-plus-crypto opportunities.
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INSIGHT

Product-Market Fit Cull

  • Many tokens and teams without product-market fit will trend toward zero during this bear market.
  • Myles O’Neil argues this wipeout is healthy and forces focus on fundamentals.
INSIGHT

10/10 Liquidations Broke Structure

  • Crypto led the market turn in October with massive liquidations that broke market structure.
  • Mike Ippolito highlights the 10/10 liquidations as a regime-shifting event.
INSIGHT

Price Drives Innovation Waves

  • Price often leads adoption: speculative inflows drive developer attention and hiring.
  • Mike Ippolito cites 'The Price Cycle of Innovation' to explain crypto's pro-cyclical funding.
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