"1011 Insider Whale" Agent: Wintermute's View Misinterpreted, Institutional Participation Driving Market Shift from Speculation to Allocation

Odaily reported that Garrett Jin, the agent for the "1011 Insider Whale," posted on platform X, stating that Wintermute's view has been misinterpreted as "the traditional bull market cycle for cryptocurrencies has ended." He considers such an interpretation quite unprofessional, arguing that institutions have not ended the bull market but rather changed it. As institutional assets under management increase, asset prices tend to rise while volatility decreases. BTC and ETH are undergoing a transition from a speculative mechanism to an allocation mechanism. Wintermute's actual viewpoint is that with deepening institutional participation, top crypto assets led by BTC and ETH are evolving from speculative tools into allocatable assets. The current market changes do not signify the end of a bull market but rather a structural shift from a "retail-driven, high-volatility, Meme-dominated" phase to a "configuration-driven, institutionally positioned, institution-grade volatility" mechanism.