Wintermute: Three major conditions need to be met for the recovery of the cryptocurrency market in 2022

Crypto market maker Wintermute stated in a review of the digital asset over-the-counter market that the traditional four-year cycle of Bitcoin is expected to perform weakly in 2025, with the altcoin cycle almost disappearing and showing structural changes. Whether the cryptocurrency market can rebound strongly in 2026 depends on the following three key conditions: ETFs and cryptocurrency treasury companies need to expand their investment scope beyond Bitcoin and Ethereum; BTC, ETH, BNB, SOL and other major assets need to perform strongly again and drive wealth effects; Retail investors need to return to the cryptocurrency market on a large scale. At present, more retail funds are flowing towards high growth themes such as the S&P 500 and AI, and the lagging performance of cryptocurrency compared to traditional stock markets in 2025 may further weaken its attractiveness.