The crypto market isn’t just in a state of fear right now, it’s descended into full-blown panic.
Bitcoin briefly dipped below $90,000 on Tuesday — and despite an extraordinary 2025, it’s now nursing a year-to-date loss. Meanwhile, the total market capitalization of all digital assets is in real danger of falling under $3 trillion.
All of this points to a bigger question: is a crypto winter coming? Has the next bear market already arrived? Should investors sit tight or sell up? Cryptonews has asked five experts for their perspective.
Bitwise research analyst Danny Nelson shrugged off fears that a crypto winter is upon us — and argues the outlook remains bullish. He said:
“Crypto has institutional tailwinds and growing regulatory clarity. Its path forward is stronger now than at any point before. The recent downtrend is a function of macro uncertainty. Wherever investors get jittery about economic indicators, asset classes perceived as risky feel the pain first. We see the current prices as a setup for a strong 2026.”
HashKey’s senior researcher Tim Sun agrees. While he conceded that Bitcoin and the entire altcoin space have technically entered a bear market, he argues that we’re far off a crypto winter — and a systemic collapse “is still uncertain.”
“Compared with previous bear markets, the industry has gone through severe deleveraging and liquidations, but it has not experienced an FTX-like seismic crisis. At the same time, we are seeing continued progress in asset tokenization, stablecoins, and regulation — all moving in a direction that is broadly favorable for the industry.”
Unchained’s director of market research Timot Lamarre said the timing of this particular dip is concerning based on historical cycles — but there are key differences worth bearing in mind.
“First, all prior bear markets were preceded by a euphoric blow off top. We have not seen that in this cycle. It is also important to remember that Bitcoin is a global thermometer for liquidity in the market. Since Bitcoin’s last all-time high, liquidity in the market has significantly dried up, especially with the US government shutdown. As the US government continues to cycle liquidity back into the market, it should be expected Bitcoin’s price will benefit.”
Lamarre believes BTC could fall further if the Federal Reserve fails to boost liquidity in the market — but added that investors who take advantage of dips often “find themselves with more Bitcoin for future bull runs that may be around the corner.”
Two Prime’s CEO Alexander Blume thinks regulatory, fiscal, and monetary developments all indicate that Bitcoin will continue on its upward trajectory, but this “just doesn’t happen in a straight line.” He told Cryptonews:
“In reality, the market is well positioned for Bitcoin to continue upwards. First, 25% to 30% price declines are common corrections for the asset, and several have occurred even during the run-up over the last 18 months. This deleveraging and rotation of capital is healthy and places Bitcoin in the hands of high-conviction holders looking to hold.”
Exodus chief financial officer James Gernetske admitted that it’s difficult to predict when a crypto winter will set in — as debate rages on over whether four-year cycles still apply, or have been rendered irrelevant based on global macroeconomic trends.
“Having been in crypto for numerous bear and bull markets, I generally think that people should focus on a longer-term horizon and avoid excess leverage unless they are gambling rather than investing. Crypto industry fundamentals are still the best I have seen in five plus years, so I would expect positive outcomes for the industry long term regardless.”
Most of our analysts said it’s crucial to keep an eye on the Federal Reserve, and whether it will proceed to cut interest rates next month. According to the CME FedWatch tool, another reduction is far from certain. At present, there’s a 53.4% chance that the cost of borrowing will stay the same, and a 44.6% chance of a small 25 basis point cut, which would take the target rate to 3.5% to 3.75%. HashKey’s Tim Sun added:
“If expectations of monetary tightening gradually ease in the coming weeks, the market may avoid developing into a deeper crisis. But if interest rates and the liquidity environment continue to deteriorate, risk assets may face an even more severe second shock — potentially leading to a true crypto winter. For investors, the current market is extremely fragile, with volatility higher than before. As high-risk assets, cryptocurrencies react more sharply than ever to changes in liquidity and expectations.”
The post Crypto Winter Ahead? Five Experts Say No — Here’s Why appeared first on Cryptonews.
