It was a tough week for crypto, but a good time to get a drink by Thursday evening. At a Bitcoin bar in New York, patrons nursed IPAs and checked portfolios on phones. The S&P 500 slid, Bitcoin dipped below $60,000, and Ethereum followed.

Yet the mood was strangely calm. Regulars said volatility is the price of admission. 'You don't panic,' one trader said. 'You order another round.' The bar, decorated with LED tickers, has become a de facto trading floor. Bartenders know the lingo: 'halving,' 'staking,' 'gas fees.' By midnight, the crowd thinned as Asian markets opened.

No one knew Friday's direction, but the tab was settled in USD.