‘Coldest Crypto Winter Ever’: Bloomberg’s Weisenthal Lists 12 Reasons
Joe Weisenthal argues crypto is in the “coldest crypto winter ever” because its weakness is happening while speculative assets elsewhere are surging. His updated 12-point case says the pain is no longer just about falling prices or bad sentiment: other trades, especially non-profitable tech and quantum computing stocks, are booming, making crypto look left behind and increasing the feeling that investors are missing the market’s main action. He says several old crypto narratives have faded: fears about the dollar no longer support a big crypto rally, the “it’s still early” story no longer fits, institutional adoption is largely done, and regulation is already relatively favorable. He also says AI is crowding out crypto by absorbing attention, capital, and electricity demand. Additional concerns include reputational baggage, quantum computing risks to Bitcoin, and the reversal of corporate Bitcoin accumulation, with some treasury firms now selling rather than buying. The bigger issue, he says, is relevance: crypto is being excluded from a broader FOMO-driven rally.
