The “bottleneck” effect is impacting the cryptocurrency market, according to Wintermute., 2026/02/10 18:01:29

The cryptocurrency market has entered an unstable phase, where major cryptocurrencies are likely to experience sharp and unpredictable price fluctuations, according to analysts from the crypto trading firm Wintermute.

A significant portion of investors has shifted their focus to services for artificial intelligence operators, resulting in a capital outflow from cryptocurrencies, the experts explained. This rotation has intensified price instability and limited growth opportunities for digital assets, the analysts noted.

With low spot trading volumes, price fluctuations are expected to remain constrained, and a sustainable recovery in the valuations of major assets will require a resurgence in demand from both retail and institutional investors—currently, this demand is insufficient, the specialists at Wintermute assert.

They indicated that the market is heavily impacted by a high concentration of coins among a limited number of large holders. This creates a “bottleneck” effect: even moderate sell-offs can trigger sharp fluctuations, exacerbating volatility. Uncertainty in global financial markets diminishes the willingness of new investors to enter crypto assets, according to trading analysts. Under the current circumstances, the recovery of demand has slowed, leaving digital coins highly vulnerable to any external shocks, the Wintermute experts believe.

Previously, Bitwise advisor Jeff Park stated that risk management mechanisms among large corporate investors played a crucial role in the collapse of the cryptocurrency market.