‘1011 Insider Whale’ Representative: Wintermute's Perspective Misinterpreted, Institutional Participation Driving Market Shift from Speculation to Allocation

Odaily Planet Daily reports that Garrett Jin, the representative of ‘1011 Insider Whale,’ posted on the X platform stating that Wintermute's perspective has been misinterpreted as ‘the traditional bull market cycle of cryptocurrency has ended.’ Such a view is overly simplistic. Institutions have not ended the bull market but have transformed it. As institutional asset management scales increase, asset prices tend to rise while volatility decreases. BTC and ETH are undergoing a transition from speculative mechanisms to allocation mechanisms. Wintermute's actual perspective is that, with deeper institutional participation, top-tier crypto assets led by BTC and ETH are evolving from speculative tools to allocatable assets. The current market changes do not signify the end of the bull market but rather a shift in the market mechanism from a ‘retail-driven, high-volatility, meme-dominated’ phase to a ‘allocation-driven, institutionally positioned, institutional-grade volatility’ phase.