Crypto Underperforms Despite Global Liquidity Boost and Rate Cuts: Wintermute Report

Wednesday, Nov 5, 2025 7:43 am ET1min read

Crypto markets remain underperforming despite global liquidity expansion and rate cuts, according to Wintermute. Liquidity is flowing into equities, AI, and prediction markets, not crypto. The four-year Bitcoin halving cycle no longer explains price movements, and recovery depends on renewed ETF inflows and institutional activity in DAT markets. Bitcoin and Ethereum have been range-bound, and the broader market suffered heavy losses last week.

Crypto Underperforms Despite Global Liquidity Boost and Rate Cuts: Wintermute Report