Crypto Winter or Just the Calm Before a Breakout?

[AIcash]

Some analysts believe crypto’s downturn isn’t temporary — it’s structural. 10x Research CEO Markus Thielen argues Bitcoin entered a bear market in late October, driven by slowing economic signals and weak retail participation.

Others disagree, pointing to historic progress behind the scenes. Regulatory clarity, growing stablecoin supply, real-world asset tokenization, and institutional adoption continue to strengthen crypto’s foundation. While prices lag expectations, industry leaders say 2025 may be remembered not for gains — but for building the groundwork for the next long-term expansion.