Odaily Planet Daily reports that Wintermute stated on X that it is clear we are in a bear market, and in fact, it has been ongoing for some time — especially when looking at the performance of altcoins, the extreme concentration of rebounds, and market sentiment on X. However, what sets this bear market apart is that it was not triggered by structural collapses like FTX, Luna, or 3AC, but rather by macroeconomic conditions and cyclical trend changes, leading to a relatively natural deleveraging process. The core driving forces are changes in positions, risk appetite, and market narratives.
This point is very critical. Since there have been no bankruptcies or systemic contagion, this cycle may end faster than previous bear markets. Infrastructure is more robust, stablecoins are still growing, and institutional interest has not disappeared — it has only temporarily retreated to a wait-and-see stance. Once the environment improves, attention and capital could quickly return — most likely in the second half of 2026, when macro uncertainties decrease and the Federal Reserve’s policy path becomes clearer.
In the short term, after liquidations, positions have significantly lightened, but market confidence remains insufficient. After two months of range-bound oscillation, we are back to the price discovery phase. It is still too early to discuss any meaningful upward trend, but if one appears, its pattern may be more clearly defined than the reversals seen in previous bear markets — because this time, the crypto ecosystem has not suffered structural damage.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Early ETH Accumulation Hints at Breakout—Can Momentum Hold?
Ethereum shows early accumulation, with most holders near breakeven and selling pressure easing.
Taker Buy/Sell Ratio rising indicates growing demand and selective buying across exchanges.
Sustained momentum above key levels could trigger a breakout toward higher price targets.
At press
CryptoNewsLand11m ago
Bitcoin 'done' with 85% crashes, says Cathie Wood amid new $34K target
Bitcoin (BTC) is “done” with drawdowns of 85% or more from all-time highs, says ARK Invest CEO, Cathie Wood.
Key points:
Bitcoin will not see another correction of 85% or more versus its latest all-time high, Cathie Wood argues.
A new prediction sees $34,000 becoming the next BTC
Cointelegraph25m ago
Crypto consolidates as volatility cools and futures markets tilt bearish
The crypto market continued to exhibit signs of choppiness on Friday, with bitcoin BTC$67,135.03 trading at $67,000 in the middle of a trading range that spans back to early February.
A selection of altcoins picked up during the lower liquidity Asia hours, prompting the likes of ALGO and RENDER to
CoinDesk1h ago
XRP Eyes $1.50 Breakout as Price Holds Critical Range
XRP trades in a tight range, testing support near $1.33 and resistance $1.40–$1.42.
A breakout above $1.50 could signal bullish momentum toward $1.52–$1.60.
Breakdown below $1.27 may extend the current downtrend and increase selling pressure.
Ripple’s XRP continues to trade within a
CryptoNewsLand2h ago
CryptoQuant: Ethereum derivatives market net traders trading volume turns positive, buyer pressure reaches $104 million
On April 4, CryptoQuant analyst Darkfrost posted a message, pointing out that the Ethereum derivatives market is showing a “structural change.” The net trader execution volume has turned positive for the first time, with buy-side pressure in control, which could help form a market bottom and may kick off a new round of upside.
GateNews2h ago
