The crisis of venture capital (VC) funds. The market has faced a serious crisis of trust. Venture funds, which used to drive the market, are now struggling to attract new capital. Investors are disappointed in Web3 games, NFTs, and metaverses, as there has yet to be real demand. Major players like Paradigm are leaving the sector, while Mechanism and Tangent funds are completely exiting the crypto industry, shifting focus to AI and robotics. This creates immense pressure, as they are forced to realize losses and sell off assets to return money to investors.
· Change of priorities. The money that does come in is directed not to "hyped" tokens, but to boring infrastructure: stablecoins, tokenization of real assets (RWA), and payment solutions. This means that old altcoins, which were heavily invested in during the last cycle, remain unfunded.
· ETFs and liquidity. Paradoxically, even the exit of institutions through ETFs, which was supposed to stabilize the market, has played a cruel joke. Now Bitcoin is tightly linked to traditional markets. As soon as tech stocks fall (and the AI bubble deflates), funds sell off Bitcoin as the most liquid asset to cover losses.
· Change of priorities. The money that does come in is directed not to "hyped" tokens, but to boring infrastructure: stablecoins, tokenization of real assets (RWA), and payment solutions. This means that old altcoins, which were heavily invested in during the last cycle, remain unfunded.
· ETFs and liquidity. Paradoxically, even the exit of institutions through ETFs, which was supposed to stabilize the market, has played a cruel joke. Now Bitcoin is tightly linked to traditional markets. As soon as tech stocks fall (and the AI bubble deflates), funds sell off Bitcoin as the most liquid asset to cover losses.