BlockBeats News, January 14 — In its review of the digital asset over-the-counter trading market, market maker Wintermute analyzes: The traditional four-year cycle of Bitcoin performance in 2025 has been weak, and the altcoin cycle has almost disappeared. This is not a temporary adjustment but a structural change. Therefore, for the crypto market to truly rebound strongly in 2026, it heavily depends on the occurrence of at least one of the following three key outcomes:
ETFs and crypto treasury (DAT) companies will expand their investment scope beyond Bitcoin and Ethereum. Currently, the liquidity of the US spot BTC/ETH ETFs is highly concentrated in a few large-cap tokens, leading to a narrowing market breadth and severe performance divergence. Only when more tokens are included by institutions through ETFs or corporate treasuries can broader market participation and liquidity be restored.
Major assets like BTC, ETH, BNB, SOL, etc., will once again show strong performance and generate widespread wealth effects. The traditional cycle of “BTC rising followed by funds flowing into altcoins” in 2025 has basically broken down. The average altcoin rally lasts only about 20 days (compared to about 60 days the previous year), with most tokens continuing to decline due to unlock selling pressure. Only when leading assets surge again can funds spill over downward, activating the altcoin market.
Retail investor attention is returning to the crypto market. Currently, retail investors are still actively participating, but their funds are mainly invested in high-growth themes such as S&P 500 dollar-cost averaging, AI, robotics, and quantum computing. The painful memories of 2022-2023 (crashes, bankruptcies, forced liquidations), combined with crypto’s underperformance compared to traditional stock markets in 2025, have significantly reduced the attractiveness of “get-rich-quick” crypto schemes. Only with a large-scale return of retail investors can the market regain its frenzy.
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 Depot suspends operations in Connecticut as Bitcoin ATMs face further compliance issues
Connecticut has suspended Bitcoin Depot's money transmitter license and required the company to halt its Bitcoin ATM operations due to multiple violations regarding fees and information disclosure. The company's stock price has declined, and it faces fines and compliance pressure, which may impact stricter regulatory oversight across the entire industry.
GateNews1m ago
Bitcoin Depot Flags Control 'Weaknesses' as Connecticut Halts Its Operations
In brief
Connecticut has suspended Bitcoin Depot's state money transfer license, without which it cannot run its kiosks.
Regulators said some users were overcharged, while those that fell to scams weren’t fully refunded.
Observers said the order could mark a tougher compliance test for th
Decrypt3m ago
Bitcoin inflows to exchanges reach a new high, with $75,000 becoming a key resistance level
As the crypto market rebounds, on-chain capital inflows to Bitcoin have significantly increased, reaching the highest levels, indicating the market may face selling pressure. Meanwhile, prices are approaching short-term resistance zones, and macro interest rate policies remain a key factor. Market expectations for rate cuts have cooled, which could constrain risk assets.
GateNews6m ago
Strategy Invests Additional $1.57 Billion to Purchase 22,000 BTC, 239,000 BTC Away from Million BTC Target
Michael Saylor announced that MicroStrategy purchased 22,337 bitcoins at an average price of $70,194, bringing total holdings to 761,068 BTC with a book value exceeding $57.6 billion. This move demonstrates a positive effect in cost averaging, and the company plans to reach its goal of 1 million bitcoins by the end of 2026. Saylor's confidence in bitcoin remains unwavering, with market response serving as an important indicator.
動區BlockTempo18m ago
Gate Crazy Wednesday is now live! Complete tasks to win FOGO and Leica cameras. USDT financial products offer up to 100% APY. Stake BTC, ETH, SOL and earn up to 16% mining APY.
Gate News bot message: According to Gate's official announcement on March 18, 2026
Gate launches the "Crazy Wednesday" activity, running from March 18, 2026 at 14:00 to March 22 at 16:00 (UTC+8). Users can unlock blind boxes by completing multiple tasks including flash swaps, spot trading, contract trading, and deposits. Prizes include FOGO tokens, lucky bags, and Leica cameras, with a 100% win rate.
During the event, the platform offers a USDT 14-day fixed wealth management product with 8% annualized yield. New users can enjoy a 3-day 100% annualized yield bonus. Additionally, surplus asset wealth management products are available including 0G, APT, AZTEC, and IDOS, with maximum annualized yields reaching 300%. Users who stake BTC, ETH, and SOL can enjoy up to 16% annualized yield, with SOL staking of 0-1 eligible for 16% annualized returns. All rewards will be distributed within 14 business days after the event concludes.
GateAnnouncement27m ago
Metaplanet Raises Additional $255 Million to Purchase Bitcoin, Targeting Full Increase to $531 Million
Japan's Metaplanet has recently raised approximately $255 million in new funding to increase its bitcoin holdings, with a target of holding 210,000 BTC before 2027. The company has become Japan's largest bitcoin holder and is further expanding its market exposure. This fundraising strategy includes premium share offerings and warrants, aimed at accelerating bitcoin accumulation and ecosystem development.
区块客1h ago
