Coinbase: The October sell-off is not the end of the cycle, but rather the adjustment the cycle needed.

PANews November 9th News, Coinbase Institutional stated in its monthly outlook report that although the cryptocurrency market remains shrouded in panic, the liquidation events in October are more likely to indicate a strong medium- to long-term rebound rather than weakness, laying a solid foundation for gains in the fourth quarter. However, a comprehensive market stabilization may take several months, and in the near term, a slow upward trend is more likely than a surge to all-time highs. The report mentioned that current leverage levels have improved, but liquidity gaps still exist. Capital is rotating, and savvy funds are gathering around EVM chains, RWA, and yield protocols—indicating that investors are selectively reinvesting in risk rather than withdrawing. Macro risks still exist, but structural demand is strengthening. Coinbase ultimately believes this is a bottoming phase before the next rally, rather than a cycle top.