Wintermute: The current macroeconomic landscape does not resemble a long-term Bear Market.

Golden Finance reported that on November 18, the crypto market maker Wintermute stated that the recent selling in the crypto market resembles a macro-driven sell-off rather than a structural breakdown. Positions have been cleared, the pressure led by the US is basically clear, and the cyclical dynamics surrounding Whales and year-end capital flow explain much of the reasons for this market movement. Overall, global easing policies continue, US quantitative tightening will end next month, stimulating channels remain active, and liquidity is expected to improve in the first quarter, with the overall environment still positive. This macro pattern does not resemble a long-term Bear Market. As macroeconomic factors drive the market, the next catalyst is more likely to come from policy and Interest Rate expectations rather than capital flows in the crypto assets space. Once the major currency pairs regain momentum, the market is expected to achieve a broader recovery.