# Сопутствующие статьи по теме Crypto Winter

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Crypto Winter", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

The First Snowfall in the Crypto Industry of 2026

In February 2026, the crypto industry faces a severe downturn, marked by capital flight, collapsing narratives, and a loss of faith. A meeting with a VC friend in Beijing sets the tone: investment has stalled for half a year, and even committed believers are questioning the future. The announcement of Kyle Samani, a key figure at Multicoin Capital, leaving the industry signals a deeper crisis. The collapse is attributed to the end of an era of cheap money, as global liquidity recedes and risk assets—including cryptocurrencies—plunge simultaneously. Bitcoin’s narrative as "digital gold" crumbles as it correlates closely with tech stocks, amplifying rather than hedging risk. The Web3 application narrative also falters, overshadowed by the rise of AI, which has captured capital and talent, leaving crypto’s promises looking increasingly hollow. Projects like Entropy and Bit[.]com shut down, while Gemini downsizes drastically. Developers shift focus to AI, and social media fills with nostalgia for the 2021 bull market. The upcoming Consensus conference in Hong Kong highlights the industry’s search for direction amid the wreckage. Yet, amid the despair, there is hope for a quieter, more grounded future. Blockchain technology may find practical, niche applications—in supply chain finance or digital identity—without the hype of get-rich-quick schemes. The path forward requires patience, introspection, and a commitment to solving real problems, not chasing fantasies.

marsbit02/06 02:15

The First Snowfall in the Crypto Industry of 2026

marsbit02/06 02:15

‘Real users vote with money’- Binance retains global lead despite FUD

Despite ongoing FUD, Binance maintained its position as the world's leading crypto exchange with a 39% market share in 2025, nearly five times larger than its closest competitor, Bybit. Although the platform faced withdrawal issues and negative rumors, data showed outflows were minimal, with only $600 million withdrawn—just 0.3% of its Bitcoin reserves. Binance's market share declined only 0.5% year-on-year, while other major exchanges like Bybit and Upbit saw more significant losses. However, BNB's price dropped below $800 amid a broader market correction, potentially testing the $500–$600 range in the coming weeks.

ambcrypto02/05 06:34

‘Real users vote with money’- Binance retains global lead despite FUD

ambcrypto02/05 06:34

Tiger Research: The Next Bull Market, Waiting for the Wind

Tiger Research analyzes whether the crypto market is currently in a "crypto winter" and outlines the conditions for the next bull run. Unlike previous bear markets triggered by internal crises (Mt. Gox hack, ICO crackdown, FTX collapse), the current downturn is driven by external factors like macro policies and tariffs, while internal fundamentals remain intact. The market has structurally split into three layers: a regulated sector (stable, institutional), an unregulated sector (speculative, experimental), and shared infrastructure (e.g., stablecoins, oracles). ETF inflows remain confined to Bitcoin and do not trickle down to altcoins. The next bull market requires: 1) a "killer app" emerging from the unregulated sector (e.g., AI agents, InfoFi), and 2) favorable macro conditions like liquidity injections. The era of broad-based rallies is over; growth will be segmented between regulated stability and unregulated volatility.

比推02/04 19:22

Tiger Research: The Next Bull Market, Waiting for the Wind

比推02/04 19:22

‘We’re in crypto winter’- Bitwise turns bearish as Bitcoin price slips below $75K

Bitcoin's recent decline below $75,000 has led analysts to declare a "crypto winter." Bitwise CIO Matt Hougan stated the bear market began in January 2025 and may be nearing its end, though he noted such cycles typically last around 13 months. CryptoQuant's Julio Moreno, however, argued the downturn started in November 2025 and could extend into Q3 2026. Analysts are eyeing $70,000 as a key support level, based on historical cycle bottoms. Nansen's Aurélie Barthere noted that capitulation has begun in ETFs and highlighted the importance of potential regulatory developments, such as the CLARITY Act, to stabilize the market. On-chain data suggests the market may not yet have reached its true bottom.

ambcrypto02/04 12:02

‘We’re in crypto winter’- Bitwise turns bearish as Bitcoin price slips below $75K

ambcrypto02/04 12:02

Tiger Research: How Is This Crypto Winter Different?

Tiger Research analyzes the distinct nature of the current crypto market downturn, arguing it differs fundamentally from past "crypto winters." Previous cycles were triggered by internal industry crises—the Mt. Gox hack, ICO scams, and the FTX collapse—which shattered trust and drove talent away. In contrast, the recent market movement is driven by external factors: the approval of Bitcoin ETFs fueled the bull run, while tariff policies and interest rate shifts caused the decline. Post-regulation, the market has fragmented into three layers: a compliant zone (e.g., tokenized RWA, regulated exchanges), a non-compliant zone (speculative, experimental apps), and shared infrastructure (e.g., stablecoins, oracles). Capital no longer flows between these layers as before; ETF inflows remain largely confined to Bitcoin within the compliant zone and do not trickle down to altcoins. For the next bull market to emerge, two conditions are necessary: a new killer application must originate from the non-compliant zone (similar to how DeFi summer began), and the macro environment must become supportive (e.g., with lower interest rates). The era of a unified "crypto season" where all assets rally together is likely over due to this market segmentation.

marsbit02/04 10:15

Tiger Research: How Is This Crypto Winter Different?

marsbit02/04 10:15

Bitcoin Plunges Nearly 8% Intraday, Breaks Below $73K, Wiping Out Gains Since Trump's Election Victory

Bitcoin fell nearly 8% on Tuesday, dropping below $73,000 and erasing all gains made since Donald Trump's election victory. The decline marks a 40% drop from its October 2025 all-time high, despite Trump’s pro-crypto stance and growing institutional adoption. Ethereum also saw sharper losses, falling over 10% to a May 2025 low. Market sentiment has hit a low amid economic concerns and risk aversion, with traders attempting to buy the dip only to face further liquidations. The broader crypto market has been under pressure since a major sell-off in October 2025, which wiped out $19 billion in leveraged positions. While some institutional holders remain, retail participation has declined. Smaller altcoins have significantly underperformed, with one small-cap index down nearly 70% over the past year. According to Bitwise CIO Matt Hougan, the market is in a "full-blown crypto winter" similar to 2018 and 2022, though it may be nearing its end based on historical cycle durations.

华尔街日报02/03 20:26

Bitcoin Plunges Nearly 8% Intraday, Breaks Below $73K, Wiping Out Gains Since Trump's Election Victory

华尔街日报02/03 20:26

Actually, the Crypto Winter Began in January 2025

The crypto winter began in January 2025, though many only recently acknowledged it. Bitcoin and Ethereum have fallen 39% and 53% from their October 2025 peaks, with steeper declines for other assets. This is a full bear market, not a correction, driven by over-leverage and profit-taking. Positive developments like regulatory progress and institutional adoption have been ignored amid the downturn, typical of crypto winters where good news fails to lift prices. Historically, crypto winters last around 13 months. However, this one may be closer to ending than it appears, as it effectively started in January 2025. ETF and digital asset trust (DAT) inflows masked the reality for some assets. Bitcoin, Ethereum, and XRP saw milder declines (10–20%) due to institutional support, while assets like ADA, AVAX, SUI, and DOT fell 62–75% without such backing. Without $75 billion in ETF/DAT buying, Bitcoin’s drop would have been closer to 60%. The retail crypto market has been in winter since January 2025. Despite the gloom, fundamental strengths remain: regulatory clarity, institutional adoption, stablecoins, tokenization, and Wall Street embrace. These positive factors are stored energy that will fuel the next rally when sentiment shifts. Triggers could include strong economic growth, pro-crypto regulatory surprises, sovereign adoption of Bitcoin, or simply time. As with past winters, the end feels near—despair and frustration are common precursors to recovery. Spring is likely coming soon.

marsbit02/03 16:39

Actually, the Crypto Winter Began in January 2025

marsbit02/03 16:39

Bitwise Chief Investment Officer: The Long Night Is at Its Deepest, a Glimmer of Light for the Crypto Market Is Near

Bitwise's Chief Investment Officer asserts that the crypto market has been in a severe winter since January 2025, though its end is likely nearer than its beginning. While Bitcoin and Ethereum are down 39% and 53% from their October 2025 peaks, respectively, many other assets have fallen even more sharply. This isn't a typical bull market pullback but a full-scale crypto winter, driven by over-leverage and large-scale profit-taking by early investors. Despite positive developments in adoption and regulation, prices continue to fall because bear markets often ignore good news. Historically, crypto winters last around 13 months. However, the current downturn may have started earlier than perceived, as massive inflows into Bitcoin and Ethereum ETFs, along with crypto treasury products (DATs), masked underlying weakness in the broader market. These institutional purchases, totaling approximately $75 billion in Bitcoin alone, provided crucial support floor—without which declines could have been much steeper. The market is now categorized into three groups: assets with strong institutional support (like BTC and ETH) saw milder declines; those with recent ETF approvals fell more significantly; and assets without such backing experienced severe drops. The current climate feels hopeless, but the fundamental strengths of crypto—regulatory progress, institutional adoption, and real-world utility—remain intact. These positive factors are accumulating potential that is likely to trigger a strong rebound once sentiment shifts, possibly driven by economic growth, regulatory clarity, or sovereign adoption. The darkest hour is just before dawn, and spring may be closer than it appears.

marsbit02/03 09:19

Bitwise Chief Investment Officer: The Long Night Is at Its Deepest, a Glimmer of Light for the Crypto Market Is Near

marsbit02/03 09:19

CLARITY Act Will End Crypto Winter as Bitcoin’s Four Year Cycle Ends, Says Bitwise Matt Hougan

The CLARITY Act could end the crypto winter and drive Bitcoin and other cryptocurrencies to new all-time highs, according to Matt Hougan, CIO of Bitwise Asset Management. He compares the legislation to Punxsutawney Phil, suggesting its passage would signal a market spring. The bipartisan bill aims to resolve regulatory uncertainty by clarifying the SEC's authority over securities and the CFTC's over digital commodities. It has cleared the House and is progressing in the Senate. Hougan also argues Bitcoin's traditional four-year cycle may be over, as institutional adoption and regulatory progress now outweigh historical patterns, making fundamentals stronger than ever.

ccn.com01/13 11:53

CLARITY Act Will End Crypto Winter as Bitcoin’s Four Year Cycle Ends, Says Bitwise Matt Hougan

ccn.com01/13 11:53

Cantor Fitzgerald: Crypto Winter to Strengthen Institutions

Cantor Fitzgerald analyst Brett Knoblauch suggests the crypto market is entering an early-stage downturn, or "crypto winter," which may last for months. Unlike previous cycles, this downturn lacks mass liquidations and structural failures, reflecting a market now dominated by institutional players rather than retail traders. The analyst notes a growing divergence between token prices and real infrastructure progress, particularly in DeFi and real-world asset (RWA) tokenization. Tokenized assets reached $18.5 billion in 2025 and are projected to exceed $50 billion by 2026 as banks adopt on-chain settlements. Decentralized exchanges continue gaining market share despite lower trading volumes, and prediction markets are growing, with sports betting volumes surpassing $5.9 billion. Platforms like Robinhood, Coinbase, and Gemini are entering this space, promoting transparency over traditional bookmakers. Cantor warns that Bitcoin's price, only 17% above Strategy’s average purchase price, could trigger concern if it falls further, though large-scale selling is unlikely. The bank views this period as a foundation-building phase, leading to more sustainable and structurally sound industry growth in the future.

TheNewsCrypto12/30 12:00

Cantor Fitzgerald: Crypto Winter to Strengthen Institutions