Crypto Market Sees Third Straight Quarter of Negative Returns
The crypto market recorded its third consecutive quarter of negative returns, the longest such streak since 2022. Bitwise's index fell 15.4%, while spot Bitcoin ETFs posted their worst quarterly outflows ever.
According to Bitwise, the crypto market has posted negative returns for three consecutive quarters, the longest losing streak since 2022. The Bitwise 10 Large Cap Crypto Index dropped 15.4% over the past three months, with eight of the ten constituents declining.
Spot Bitcoin ETFs experienced their worst quarter for outflows on record during the same period.
Despite the downturn, analysts point to positive developments in the Ethereum ecosystem, including rising activity, increased total value locked (TVL) in DeFi, and growing stablecoin adoption. Bitwise noted, "This foundation won't stop winter, but it will determine what blooms in spring."
Source: ForkLog