This one hits hard.

Bitwise CIO Matt Hougan just revealed that the crypto winter quietly began in January 2025 — but was hidden behind ETF inflows and DAT liquidity 🧠

Translation?

The market looked strong… while structure was already weakening underneath.

His key line:

ā€œWe’re closer to the end than the beginning.ā€

That’s not bearish.

That’s late-cycle survival guidance.

šŸ“‰ 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 isn’t panic territory — this is positioning territory.

⚔ Jungle Wisdom:

Real winters don’t announce themselves… they arrive quietly.

šŸ“Š QUICK POLL — WHERE ARE WE NOW?

A) Final shakeout before next bull šŸš€

B) Deeper winter ahead ā„ļø

C) Choppy accumulation zone šŸ”„

D) Just watching šŸ‘€

$OG

OG
OGUSDT
3.989
-0.69%

$SYN

SYN
SYNUSDT
0.0775
-10.96%

#CryptoWinter #SmartMoneyMoves #MarketCycles #BitcoinAnalysis #LiquidityWatch

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