Pantera Capital is warning that 2025 could be a tough year for crypto, especially for tokens outside of Bitcoin. The fund says many altcoins are struggling due to weak value capture, slowing on-chain activity, and fading retail interest. Pantera describes the year as a “whipsaw” period, where volatility and capitulation dominate sentiment.
That said, the outlook isn’t all bearish. Pantera expects 2026 to mark the start of a recovery, setting the stage for a healthier and more sustainable crypto market ahead.
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