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Wintermute founder: BTC and ETH will still rise, but a comprehensive bull market may not occur. The market will focus on protocols with sustainable economic models

Wintermute founder: BTC and ETH will still rise, but a comprehensive bull market may not occur. The market will focus on protocols with sustainable economic models

Bitget2025/02/19 08:01
BTC+0.84%ETH+0.39%TRUMP+0.44%

Odaily Planet Daily reports that Wintermute founder and CEO Evgeny Gaevoy stated today at Consensus Hong Kong 2025 that for Bitcoin, market liquidity may have already recovered to the level before the FTX crash. However, for other tokens, liquidity is still insufficient. The market is still dominated by the price of Bitcoin, which affects the liquidity of other tokens. In addition, the launch of new tokens will draw liquidity from existing ones. For example, when TRUMP was launched, a large amount of funds flowed out from other tokens causing a significant market drop. This phenomenon occurs every time a new token is launched.

Evgeny Gaevoy also said that regarding improvements in regulatory environment, it has not been fully priced into the market yet despite many positive regulatory developments; thus leaving markets in a wait-and-see state. Finally he expressed his belief that prices for Bitcoin and Ethereum would continue to rise even though there might not be an overall bull market but some fluctuations are expected in this scenario. Investors will pay more attention to protocols with real practical uses and sustainable economic models.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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