Wintermute: liquidity exists — just not in crypto.
By Maxime Laurent · 2025-11-07 08:03
Wintermute: liquidity exists — just not in crypto.
The market’s running on recycled capital ♻️💸
According to Wintermute, the crypto market has entered a phase of self-financing — money’s still moving, but it’s all the same money. Fresh inflows from stablecoins, ETFs, and DATs (digital treasuries) have practically frozen, even though their total supply has grown from $180B to $560B since the start of the year.
Big investors, meanwhile, are parking funds in U.S. Treasuries, earning over 5% with zero risk — and that steady yield is beating the thrill of crypto right now. So liquidity never really reaches the market; it just circulates internally — $BTC → $ETH → alts → back again.
Volatility’s rising, but without new cash, it’s all motion without progress. The next real cycle, they say, will begin only when stablecoin issuance, ETF inflows, and tokenized funds start expanding again.
Until then — it’s a closed loop, mes amis. Same capital, different bagholders.
#BTC #ETH #crypto #Wintermute #liquidity #marketcycle #stablecoins #ETF
The market’s running on recycled capital ♻️💸
According to Wintermute, the crypto market has entered a phase of self-financing — money’s still moving, but it’s all the same money. Fresh inflows from stablecoins, ETFs, and DATs (digital treasuries) have practically frozen, even though their total supply has grown from $180B to $560B since the start of the year.
Big investors, meanwhile, are parking funds in U.S. Treasuries, earning over 5% with zero risk — and that steady yield is beating the thrill of crypto right now. So liquidity never really reaches the market; it just circulates internally — $BTC → $ETH → alts → back again.
Volatility’s rising, but without new cash, it’s all motion without progress. The next real cycle, they say, will begin only when stablecoin issuance, ETF inflows, and tokenized funds start expanding again.
Until then — it’s a closed loop, mes amis. Same capital, different bagholders.
#BTC #ETH #crypto #Wintermute #liquidity #marketcycle #stablecoins #ETF
Disclaimer: This content is for informational purposes only and not financial advice.