COINOTAG News reported on December 10 that Bitwise CEO Hunter Horsley contends the traditional four-year crypto cycle is dead, arguing the market has matured beyond old rhythms. He says the sector now shows resilience grounded in secular adoption, evolving liquidity dynamics, and diversified product structures, signaling a structural shift rather than a recurring pattern.

He notes that 2025 has carried a subtle bear market bias since February, but this has been masked by ongoing demand from digital asset treasuries and Bitcoin reserve companies. While he does not guarantee a rebound, Horsley argues that improving liquidity and credible institutional participation could set the stage for a potential 2026 market rally.