“Crypto generally thrives when exchanges are NOT a focal point. The most impactful exchange collapse ever will have lasting shockwaves. But as shown, the key for a turnaround will likely be focus moving away from exchange tokens, and back to Bitcoin,” Santiment analysis said. 

Santiment is not the only analyst highlighting the positives for Bitcoin and the crypto market that are likely to emerge from the FTX collapse. According to prominent crypto trader and market analyst Murad Mahmudov, the implosion of FTX might actually shorten the ongoing bear market.