"1011 Insider Whale" Agent: Wintermute's view has been misinterpreted; institutional participation is driving the market from speculation to allocation

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Odaily Planet Daily reports that Garrett Jin, the agent of "1011 Insider Whale," posted on the X platform that Wintermute's view is interpreted as "the traditional bull market cycle in cryptocurrency has ended." This perspective is quite biased; institutions have not ended the bull market but have changed it. As institutional asset management scales up, asset prices tend to rise, while volatility decreases. BTC and ETH are experiencing a transition from speculative mechanisms to allocation mechanisms. Wintermute's actual view is that, with deeper institutional participation, top cryptocurrencies like BTC and ETH are evolving from speculative tools into configurable assets. The current market changes are not the end of a bull market but a shift from a "retail-driven, high-volatility, meme-dominated" phase to a "allocation-driven, institutional positioning, institutional-level volatility" mechanism.
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