If that unique passion cannot be reclaimed, this winter may prove exceptionally long.
Author: The Economist
Translation & Editing: TechFlow
TechFlow Intro: Although Bitcoin’s price remains above $70,000, the cryptocurrency market is enduring an unprecedented “lonely winter.” This article delves into what makes the current downturn distinct from previous ones: the cascading effect of leveraged liquidations; exchange-traded funds (ETFs)—once hailed as a lifeline—now acting as downward pressure points; and, most critically, the loss of “vibe.”
As cryptocurrencies shift from countercultural cool to a mundane asset embraced by elites yet still not genuinely accepted by mainstream finance, their premium is rapidly evaporating.
The…
