The violent rebound in the cryptocurrency market is simply the "midnight horror" for the bears—within hours, the total liquidation across the network expanded to 236 million dollars, with 82% being bears, almost all of them collectively "taking the plunge."
In contrast, the bulls are probably laughing and reaping this "sudden fortune" right now.
After Powell's speech, the market "buys the expectation, sells the facts," and the technical breakout triggered a sell-off. The data is still fluctuating; it might have doubled again by now. Still, that phrase holds: the wind is strong at the rooftop, don't add too much leverage, preserving life is paramount.