Hartmann Capital founder: Indicators such as continued negative funding rates indicate that the market may be close to bottoming out

2025-02-09 02:45

Odaily News Felix Hartmann, founder of Hartmann Capital, said in a post on X: “I may be premature, but it feels like we are close to the bottom of the market:
• Funding rates have been negative for some time. A few weeks ago, the futures premium turned negative;
• AI Token fell 80-99%. High-quality altcoins retraced to long-term trend lines, erasing the overshoot in Q4 last year;
•A complete social-emotional breakdown is usually the best sign.
Stablecoins are not going away, they require on-chain infrastructure. AI agents are inevitable, they require non-KYC financial rails.
The BTC wealth effect once drove altcoins, but the ETF era has changed that. Fink expects the SOL ETF to appear soon, and unlike BTC/ETH, there will be no excess of gray matter. This will be a pure inflow of funds. ETFs may become the Coinbase/Binance listing effect of this cycle.
Crypto has a cultural problem: too much extraction, too little creation. But the next 4 years will bring real momentum to stablecoins and AI. The desperation right now is as irrational as the euphoria in Q4 of last year.”
He added that while the cryptocurrency market may continue to be “volatile,” this could also be the “end of the tunnel,” as most unlocked VC token allocations have already been “sold off over the past two quarters.”