 
 
CoinMarketCap (CMC) Research Head Alice Liu projects that the next major crypto bull cycle will kick off in Q1 2026, adding a striking contrast to the sentiment surrounding today’s price action.
Bitcoin’s recent volatility has kept the market on edge. After briefly reclaiming the $90,000 region earlier in the week, the asset remains almost 30% below its October record high.
CNBC host Dan Murphy discussed the turbulence, noting that nearly $20 billion in leveraged positions were flushed out during the latest downturn. At the same time, perpetual funding rates slid into negative territory as traders shifted toward stablecoins.
CMC data shows the total crypto market added 1.1% over 72 hours, driven by improved risk appetite and institutional flows into Ethereum. BlackRock’s ETHA ETF brought in $53 million, offsetting Bitcoin ETF outflows. In comparison, BNB Chain’s market cap rebounded by $8.3 billion amid ecosystem expansion.
Even so, leverage remains subdued, with open interest up only 1.14%, and macro-correlation signals remain mixed.
 
Meanwhile, altcoins continue to trail Bitcoin. The CMC Altcoin Season Index sits at 22/100, firmly in “Bitcoin Season,” while BTC dominance stands at 58.55% despite a slight daily pullback. Ethereum leads large-cap momentum with a 6.49% weekly gain, yet sector-wide altcoin performance continues to lag Bitcoin’s broader 30-day resilience.
Institutional speakers at the CNBC panel, however, offered a different long-term view. Binance CEO Richard Teng highlighted accelerating global regulatory clarity and continued institutional onboarding, describing long-term sentiment as “very bullish.”
Ripple CEO Brad Garlinghouse echoed the optimism, pointing to expanding ETF adoption and regulatory shifts in the U.S., which he says remain dramatically under-priced by markets.
Meanwhile, Solana Foundation President Lily Liu added that cyclical corrections are a natural feature of crypto’s exponential trajectory, emphasizing that volatility does not undermine structural adoption.
While ETF outflows have spurred debate, Liu noted that the Solana ETF has posted daily inflows since launch, signaling selective institutional conviction.