This one hits hard.
Bitwise CIO Matt Hougan just revealed that the crypto winter quietly began in January 2025 ā but was hidden behind ETF inflows and DAT liquidity š§
Translation?
The market looked strong⦠while structure was already weakening underneath.
His key line:
āWeāre closer to the end than the beginning.ā
Thatās not bearish.
Thatās late-cycle survival guidance.
š What masked the pain:
⢠ETF demand propping prices
⢠DAT flows injecting artificial strength
⢠Retail chasing headlines
⢠Smart money rotating silently
Now liquidity is thinning.
Momentum is selective.
Only strong narratives survive.
This isnāt panic territory ā this is positioning territory.
ā” Jungle Wisdom:
Real winters donāt announce themselves⦠they arrive quietly.
š QUICK POLL ā WHERE ARE WE NOW?
A) Final shakeout before next bull š
B) Deeper winter ahead āļø
C) Choppy accumulation zone š
D) Just watching š


#CryptoWinter #SmartMoneyMoves #MarketCycles #BitcoinAnalysis #LiquidityWatch

Follow RJCryptoX for real-time alerts.