BlockBeats News, January 21st, "BTC OG Whale Insider" agent Garrett Jin posted a long article on social media stating, Wintermute's report stated that the encryption "traditional bull market cycle" has ended, but some media misunderstood it as "the end of this encryption bull market," which is very unprofessional.
Garrett Jin stated that historical data from Chinese A-shares and US stocks clearly confirmed this: A retail-dominated market exhibited extremely high volatility and pump-and-dump behavior. As institutions entered the market on a large scale, the market became more structured, more stable, and more trend-driven.
For mainstream cryptographic assets, the phase of "retail-driven, high volatility, meme-dominated" has ended. We are witnessing a transfer of dominance:
From speculation to allocation, from retail emotion to institutional positioning, from extreme volatility to institutional-level volatility. Mixing this transformation with "the end of the bull market" is not analysis but a misunderstanding of the market's mature way.
