Don't you think this is at all is not bad news?
A lot of stockmarket traders are already here in crypto, they had quit the stockmarket because of the long wait before price goes up. I am from stockmarket as well but quit and move to crypto for its quite better to trade.
Firstly, he said he does not like bad news and then he decided to classify what has happened as bad news. Secondly, downtrends happen everywhere and not their first time this will be happening in the stock market, so how is that also a bad news? Thirdly, just as you said, this should even be like good news to the crypto space as a lot of big guys are beginning to find the cryptocurrency ecospace interesting. Who knows? May be they are even the ones moving their funds from the messed up centralized stock market.