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
Bitcoin Breaks Below $71,000, Ethereum Falls Below $2,200! Nearly $300 Million in Liquidations Across the Network in 4 Hours, Inflation, Conflict, and Political Deadlock "Triple Kill" Crypto Market
The crypto market experienced a sharp decline on the evening of the 18th, with Bitcoin falling below $71,000 and Ethereum dropping to $2,200. The causes include U.S. PPI data exceeding expectations, which reduced the likelihood of Federal Reserve rate cuts; escalating Middle East conflicts increasing geopolitical risks; and gridlock in the U.S. Congress over crypto regulations. Market sentiment was severely damaged, with 110,000 people liquidated in just 4 hours, resulting in losses of $300 million.
動區BlockTempo53m ago
Here’s Where Gold Price Could Go After the FOMC Decision
Gold is in a bearish trend, forming a waterfall pattern with lower highs and lows. Watch the 4905 level; a break could lead to a drop toward 4841. Upcoming FOMC announcements may cause volatility, impacting price movements.
CaptainAltcoin1h ago
A Certain CEX Survey: 74% of Institutions Expect Cryptocurrency Market to Rebound in the Next 12 Months, Allocation Willingness Continues to Strengthen
Despite the crypto market's pullback since last year, the latest survey shows that institutional investor confidence remains solid, with 73% planning to increase digital asset allocation by 2026, and 74% expecting market recovery over the next 12 months. Most institutions prefer to invest through regulated instruments while focusing on regulatory clarity and risk management.
GateNews1h ago
Shiba Inu (SHIB) Shows Warning Signs as Price Hints at Another Dip
Shiba Inu price has returned to a delicate zone after several failed attempts to push higher. Recent price action shows SHIB struggling to break above a descending resistance line. That pattern has started raising concerns about another short-term decline.
Market observers began paying
CaptainAltcoin1h ago
