Wintermute Says Crypto Bull Cycle Has Just Begun

Wintermute, a prominent player in the cryptocurrency market, has stated that the current bull cycle is still in its early stages, with an expected continuation until at least October 2026. This assessment comes as Bitcoin (BTC) holds steady at $86,100, with short-term risks largely centered around U.S. Treasury yields.

The firm also noted that the sideways movement observed in NEAR (priced at $5.10) and XRP ($1.50) should not be interpreted as weakness but rather as a healthy consolidation phase. This perspective suggests confidence in the underlying strength of these assets despite their lack of immediate upward momentum.

Market participants are eagerly awaiting the U.S. midterm elections on November 3, hoping that the outcome will reduce uncertainty surrounding Treasury yields. This political event is seen as a key factor that could influence broader market stability and direction.