The term harkens back to the 2018 cold spell when bitcoin’s price fell 73% that year alone, accompanied by a crash in prices for tokens recently minted at the top of the market through “initial coin offerings” or ICOs. Cryptocurrency companies slashed jobs, bitcoin miners mothballed new projects, and breathless headlines vanished from the mainstream press.
Source: https://www.coindesk.com/markets/2022/06/03/first-mover-americas-bitcoin-slips-as-report-shows-faster-than-expected-us-jobs-growth/?utm_medium=referral&utm_source=rss&utm_campaign=headlines