The industry’s largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), are enduring one of their most difficult openings to a year on record, with both digital assets trading sharply below their previous peaks. Bitcoin is currently down roughly 46% from its all-time high, while Ethereum has fallen about 60% from its record level. The steep declines mark what the publication describes as historically poor year-to-date performances for the assets. The disconnect between cryptocurrencies and broader market gains has prompted some industry observers to declare the arrival of another Crypto Winter.
“We’re certainly in a Crypto Winter,” said Danny Nelson, a research analyst at crypto asset manager Bitwise. In a recent interview, Lee suggested the market may be nearing a turning point, stating, “We’re really close to the end.” At the time of writing, Bitcoin is trading at $67,595, which is a slight 1% increase compared to Thursday’s prices. Ethereum is trading at around $1,968, with similar gains over the past 24 hours.
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