Crypto Market Shows Signs of Nearing Bear Cycle End, Wintermute Analysts Say

Wintermute analysts believe the crypto market is showing signs that the bearish phase is coming to an end. In their weekly review, they noted that leading crypto assets weathered last week's harsh macroeconomic events relatively well.

Last week was marked by negative factors such as unchanged US Federal Reserve interest rates and yields on 30-year US Treasuries hitting nearly two decades high. Despite these challenges, Bitcoin and Ethereum lost less than 4% over the week, indicating a gradual exhaustion of selling pressure.

The analysts do not expect a rapid start to a new uptrend, but instead predict a short-term rise amid low summer liquidity. They also caution that excessive optimism is leaving the stock market first, while cryptocurrencies are showing greater resilience.